Analyst, Fixed Income Middle Office - MBS Allocations

Scotiabank • New York, NY

43d • $69,400 - $129,000

About The Position

The Analyst contributes to the overall success of Scotiabank’s Fixed Income Middle Office in New York and globally, supporting the team’s business strategies and objectives while ensuring activities comply with governing regulations, internal policies, and procedures. The role handles Agency MBS allocations and related trade processing, supports fixed-income trade capture and settlement, and coordinates with front-office teams and external clients to resolve discrepancies and promote timely settlement.

Requirements

• Bachelor’s degree.
• At least 2 years of MBS TBA allocations and specified-pool experience; the posting states a 2–3 year minimum.
• Excellent communication and interpersonal skills, including strong written skills.
• FINRA NASD S99 license or ability to obtain it.
• Proficiency in MBSE (MBS Expert) and Broadridge Impact.

Responsibilities

• Allocate Agency MBS trades across GNMA, FNMA, and FHLMC 15-year and 30-year coupons.
• Allocate stripped TBAs and ensure pools meet good delivery guidelines.
• Process pool changes and high-volume EPN notifications on 48-hour days.
• Process Class A, B, and C netting and pool allocation cycles.
• Handle Hybrid ARM TBA exposure.
• Process Assignments of Trades (AOTs) and TBA pair-offs.
• Process new-issue RMBS and CMBS trades and secondary-trading client sub-account allocations.
• Facilitate RTTM trade matching and netting, and report to FINRA TRACE.
• Assist the Fixed Income Middle Office team with trade input and capture for Rates, Repo, Corporates, Lat-Am, DCM New Issue Syndicate, CLO, and ABS securities.
• Submit Treasury bids to the Federal Reserve TAAPS system according to Trading Desk instructions and communicate results.
• Distribute fail reports, notify front-office sales and trading teams of fail positions, and follow up on aged items to promote settlement.
• Coordinate with external clients to retrieve allocations for block transactions and submit allocated trades into front-end risk-capture systems.
• Perform front-office-to-back-office system (FOBO) reconciliations to ensure trades flow to the back-office system.
• Facilitate timely trade settlement by resolving allocation, trade-detail, and instruction discrepancies with clients.

Benefits

• Flexible benefit programs supporting family, financial, physical, mental, and social health needs.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level