Trader I

About the role

The Trader I is responsible for all away from Pershing executions, sales-trading services to active customers, security structure and market analysis, and provision of recommendations.

Responsibilities

• Keep abreast of markets and security structures in order to provide analytical based recommendations
• Follow detailed operational procedures while making sure Investment Consultants have also followed such procedures before accepting an order
• Follow procedures related to best execution rules: Rule 2320(g) documenting all counterparties reviewed and prices offered
• Makes any reasonable effort to report eligible trades so firm is in compliance with TRACE reporting rules (Rule 6230)
• Provides day-to-day market insights to Investment Consultants
• Participates in problem-solving with current counterparties
• Reviews pricing decisions to validate that mark-ups and commissions are within company guidelines. If a violation is detected, Trader must inform customer-facing role and Principal
• Provides market insight and execution (sales-trading role) to very active customers
• Ensures preventive measures are carried out to fully comply with current rules, regulations and internal policies relating to risks pertaining to BSA, USA Patriot Act, OFAC and other AML related issues
• Identify, evaluate, monitor and make any recommendation deemed necessary to their respective Risk Management Committee in order to assess, reduce, eliminate or control any current or prospective risks to earnings or capital arising from violations of, or nonconformance with, laws, rules regulations, prescribed practices, internal policies and procedures or ethical standards
• Participate in ad hoc projects

Qualifications

• Accountability: Responsible for the firm’s execution function related to all non-Pershing trades, mainly fixed income. Other execution responsibilities may include structured products, hedge funds, mutual funds and non-Pershing foreign exchange
• Problem Solving: Execute trades among different options with great accuracy, Define ways to solve execution problems, Maintain a continuous flow of information and develop strong ties with counterparties, Maintain low execution error statistics, Workload subject to intense peaks, job requires maintaining high accuracy under pressure

Skills

• Team Player: Have the ability to work under pressure, have a professional image and be able to resolve problems and conflicts
• Time Management: Prioritize work and effectively manage time and have the ability to manage change
• Business Communications: Basic business communications skills such as advanced writing, listening and have basic office and mathematics skills, and customer service skills
• Professional Skills: Report writing, advanced statistics, effective presentation skills, creative skills, budgeting and conducting effective meetings and research assessment

Benefits

Great accuracy is required to avoid costly errors

Pay

Revenue generation of over $600,000 per month

Schedule

Core hours are typically 9:00 AM - 5:00 PM, Monday through Friday, but may vary depending on workload and project demands.