This investment bank and asset manager, whose core business is the global trading of fixed income products and structured debt is looking to hire a Fixed Income Trade Director. This role can be based at one of their main European branches in Luxembourg, Geneva or London.
The bank is focused on the trading of fixed income, structured debt and commercial paper using their own private exchange. This exchange essentially acts as the middle man between the two counter-parties who wish to trade their instruments. The exchange fully integrates with the clients own banks and their systems (Euroclear, Clearstream, SWIFT etc etc) and allows the seamless and secure trading of varied assets and instruments. It removes the issues around asset identification, potential for fraud and allows counter-parties to trade securely in the knowledge there is no risk.
It has also proved to be of interest to a growing channel of partners from other financial institutions as it allows secure, yet for the parties to remain anonymous should they wish. The bank has currently in excess of two thousand channel partners (banks, hedge funds, asset managers and asset owners) set up on the exchange, which is remarkable in its self as it has not advertised and not offered this exchange to individual investors as yet.
The Fixed Income Trade Director lies at the heart of this trading activity. Essentially they run the show, in concert with the banks compliance and due diligence team. The role can be broken down into a few main areas of responsibility, which are:
1. Identifying and proving the asset / instrument / product that a counter-party wants to trade is what it is claimed it is. Here the Fixed Income Trade Director works to establish the trade-able asset is real, the actual ownership of the asset and works closely and directly with the client own bank (and their bank officer) to answer a series of essential questions.
2. Match and arrange the trades. The exchange will flag potential trade matches between assets held and trading requirements. It is down to the Fixed Income Trade Director to arrange the trade. This takes the initial form of agreeing fees, negotiating commission for introducer's, collating the trading data and organizing it with the counter-parties bank officers / authorized representatives. Once that is complete the Fixed Income Trade Director manages the actual swap.
3. Lastly the Fixed Income Trade Director remains the central point of contact for the trading counter-parties, their authorized partners and external regulators for the trades they have conducted.
As you have no doubt gathered these are complex trades, which take time to arrange and an in-depth knowledge of banking, banking compliance, fixed income trading and require the in put of a knowledgeable and skilled fixed income banking expert. Due to complex nature and the need for consistent, quality direct contact with the counter-parties bank officers and senior treasury / portfolio directors it will only suit a senior banker. The importance of the Fixed Income Trade Director can be seen by the fact up to know this role has been undertaken by the founder of the bank and two of his fellow board members. Growth in trading volumes necessitates the appointment of additional resource here. To be considered you should be:
1. An expert in fixed income / structured debt deals. At least five years at another bank managing, supervising and / or recommending trades involving debt, commercial paper, structured products or commodities such as metals or minerals.
2. Have a solid knowledge of how banks handle these kinds of assets and how they are traded and why.
3. A firm understanding of banking compliance, due diligence and asset identification issues.
4. Comfortable handling complex documentation and negotiating / building relationships at director level in other banks and with influential asset owners.
In return you can expect a remuneration package over and above what you are currently paid at your existing bank. The chance to join a bank with for a once, and not just words or claims, a genuinely innovative and in demand service. The bank has three main European hubs and you can be based there, alternatively if they do not suit the bank is a keen believer in using the latest technology and you could be based from home, where ever that may be.
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