Scotiabank
Associate, Repo Trader
Scotiabank, New York, New York, us, 10261
Associate, Repo Trader
Requisition ID: 213945
Salary Range: 145,000.00 - 175,000.00
Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Title: Associate, Repo Trader
Global Banking and Markets
Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world.
Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.
Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future!
Purpose
Based in New York and reporting to Desk Head of Repo desk, the candidate will be responsible for trading the UST repo book across Specials and GC. The candidate will be expected to manage interest rate risk, pricing client activity, providing commentary and managing internal collateral. To succeed in this role, the candidate requires an in-depth knowledge of UST repo markets, short end US bond markets and global central bank policies.
What You’ll Do:
Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
Responsible for shaping and delivering the quantitative equity trading strategy for the Americas, collaborating with technology, analysts and senior leaders.
Works closely with traders to develop data-driven solutions such as algorithmic strategies, trading signals, risk models, portfolio optimization, flow categorization and clustering. Ultimately combines these strategies into an automated trading process that leverages our ETF market making business.
Uses highly complex quant models to identify the equity desk’s net exposure, makes systematic trades to hedge against the risk and develops optimization models to unwind inventory positions.
Works in all aspects of equity portfolio management: data management, research, factor construction, portfolio construction, portfolio monitoring, alpha generation, etc. with an opportunity to work on new datasets and modeling techniques.
Conducts research on large order and execution datasets. Builds a back-test trading environment to apply in-depth data analysis, builds/ improves existing quantitative factors, statistical inference and estimation techniques and research ideas for performance enhancements.
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Actively pursues effective and efficient operations of his/her respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
Champions a high-performance environment and contributes to an inclusive work environment.
Data Analysis in Python/Q developing flow-based alpha signals and strategies.
Develop model to consistently predict price movement using statistical and machine learning.
Improve daily P&L metrics.
Create a back-testing framework in Python to enhance design, implementation and analysis of trade-out strategies.
Transaction costs modeling for high-touch trading, increasing model fitness.
Developing, implementing and deploying algorithms to improve automation of derisk trading.
Classify order flow by developing feed handlers to collect, normalize, and process raw data from various sources. Reduce trade-out costs.
Implement & manage factor models to systematically decompose real-time risk and improve trade-out and/or hedging.
Streamline regression tests to reduce release-times.
What You’ll Bring
Ideal candidate will possess a relevant bachelor’s degree (Commerce, Economics, Mathematics or related discipline) or equivalent qualification.
Min 2 years of experience of working in a relevant role
Strong understanding of USD short term rates environment
Ability to work well under pressure and tight deadlines, have the aptitude to synthesize large amounts of information and develop innovative solutions.
Strong quantitative and analytical skills.
Strong financial and computer literacy skills.
Strong oral and written communication skills. Ability to communicate effectively to various groups including back-office, mid-office, and sales.
Series 7 & 63 required, Series 24 an asset.
Interested?
At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture.
What's in it for you?
Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs.
Location(s): United States : New York : New York City
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, pleaseclick here (https://www.scotiabank.com/careers/en/careers/technical-support-for-applicants.html) . Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.
Requisition ID: 213945
Salary Range: 145,000.00 - 175,000.00
Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Title: Associate, Repo Trader
Global Banking and Markets
Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world.
Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.
Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future!
Purpose
Based in New York and reporting to Desk Head of Repo desk, the candidate will be responsible for trading the UST repo book across Specials and GC. The candidate will be expected to manage interest rate risk, pricing client activity, providing commentary and managing internal collateral. To succeed in this role, the candidate requires an in-depth knowledge of UST repo markets, short end US bond markets and global central bank policies.
What You’ll Do:
Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
Responsible for shaping and delivering the quantitative equity trading strategy for the Americas, collaborating with technology, analysts and senior leaders.
Works closely with traders to develop data-driven solutions such as algorithmic strategies, trading signals, risk models, portfolio optimization, flow categorization and clustering. Ultimately combines these strategies into an automated trading process that leverages our ETF market making business.
Uses highly complex quant models to identify the equity desk’s net exposure, makes systematic trades to hedge against the risk and develops optimization models to unwind inventory positions.
Works in all aspects of equity portfolio management: data management, research, factor construction, portfolio construction, portfolio monitoring, alpha generation, etc. with an opportunity to work on new datasets and modeling techniques.
Conducts research on large order and execution datasets. Builds a back-test trading environment to apply in-depth data analysis, builds/ improves existing quantitative factors, statistical inference and estimation techniques and research ideas for performance enhancements.
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Actively pursues effective and efficient operations of his/her respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
Champions a high-performance environment and contributes to an inclusive work environment.
Data Analysis in Python/Q developing flow-based alpha signals and strategies.
Develop model to consistently predict price movement using statistical and machine learning.
Improve daily P&L metrics.
Create a back-testing framework in Python to enhance design, implementation and analysis of trade-out strategies.
Transaction costs modeling for high-touch trading, increasing model fitness.
Developing, implementing and deploying algorithms to improve automation of derisk trading.
Classify order flow by developing feed handlers to collect, normalize, and process raw data from various sources. Reduce trade-out costs.
Implement & manage factor models to systematically decompose real-time risk and improve trade-out and/or hedging.
Streamline regression tests to reduce release-times.
What You’ll Bring
Ideal candidate will possess a relevant bachelor’s degree (Commerce, Economics, Mathematics or related discipline) or equivalent qualification.
Min 2 years of experience of working in a relevant role
Strong understanding of USD short term rates environment
Ability to work well under pressure and tight deadlines, have the aptitude to synthesize large amounts of information and develop innovative solutions.
Strong quantitative and analytical skills.
Strong financial and computer literacy skills.
Strong oral and written communication skills. Ability to communicate effectively to various groups including back-office, mid-office, and sales.
Series 7 & 63 required, Series 24 an asset.
Interested?
At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture.
What's in it for you?
Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs.
Location(s): United States : New York : New York City
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, pleaseclick here (https://www.scotiabank.com/careers/en/careers/technical-support-for-applicants.html) . Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.