Managing Director, Institutional Municipal Trading

About the role

The Managing Director, Institutional Municipal Trading is responsible for trading activity on the Fixed Income platform, including Municipal Trading. The Managing Director is responsible for developing and executing trading strategies, providing liquidity and market color to clients and internal partners, and driving revenue growth through disciplined risk-taking and strong execution. This individual combines deep market expertise, proven leadership, and the ability to translate market developments into actionable ideas while partnering closely with sales, syndicate, product, and internal coverage teams.

Responsibilities

• Lead trading strategy execution within specific Fixed Income asset classes
• Lead market coverage and contribute to team-wide revenue generation and profitability
• Direct market-facing communication, including pricing insight, market color, and execution updates
• Monitor positions, market developments, and liquidity conditions to inform strategy and risk decisions
• Serve as a senior market expert and coordinate with sales and syndicate partners
• Mentor and develop junior traders and desk staff while reinforcing execution discipline and market awareness
• Partner with internal stakeholders to deliver liquidity, support execution, and optimize profitability
• Contribute to trading strategy, compliance standards, and desk procedures
• Prepare management reporting on trading activity, market trends, inventory, and profitability
• Performs other duties as assigned

Basic Qualifications

• Bachelor’s Degree in Finance, Accounting, Economics, or related field
• 12+ years’ experience leading and executing traded products in Capital Markets; trading long-dated tax exempt and taxable municipal securities
• FINRA Series 7, 63

Preferred Qualifications

• Strong trading judgment and market-facing interpersonal skills with successful track record of generating revenue in municipal trading
• Proven experience leading and developing high-performing teams
• Deep understanding of industry trends, regulatory frameworks, and capital markets products with knowledge of structure, credit, and fundamentals in the municipal market
• Strong client-facing skills with the ability to build trusted relationships
• Exceptional communication and presentation skills across all organizational levels
• Ability to manage multiple priorities in a fast-paced, deadline-driven environment
• Demonstrated leadership, integrity, and sound risk awareness
• Adaptability to change and resourcefulness in navigating constraints to deliver results
• Proficient with Microsoft Office products, Bloomberg TOMS and Tradeweb, MarketAxess and ICE Bonds and financial modeling

Exempt Status

Yes (not eligible for overtime pay)

Workplace Type

Office

Compensation Range

$200,000 – $250,000 Annual Salary

The compensation range represents the anticipated low and high end of the base compensation range for this position. Actual compensation will vary based on various factors including but not limited to location, experience, and education. Colleagues in this position are also eligible to participate in an applicable incentive compensation plan.