Associate, Repo Trader

Banque Scotia (Bank of Nova Scotia) • New York City, NY

366d • $145,000 - $175,000

About The Position

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. The Associate, Repo Trader position is based in New York and reports to the Desk Head of the Repo desk. The candidate will be responsible for trading the UST repo book across Specials and GC, managing interest rate risk, pricing client activity, providing commentary, and managing internal collateral. Success in this role requires an in-depth knowledge of UST repo markets, short end US bond markets, and global central bank policies.

Requirements

• Relevant bachelor's degree (Commerce, Economics, Mathematics or related discipline) or equivalent qualification.
• Min 2 years of experience in a relevant role.
• Strong understanding of USD short term rates environment.
• Ability to work well under pressure and tight deadlines.
• Strong quantitative and analytical skills.
• Strong financial and computer literacy skills.
• Strong oral and written communication skills.
• Series 7 & 63 required, Series 24 an asset.

Responsibilities

• 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.
• 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.
• Conducts research on large order and execution datasets and builds a back-test trading environment.
• Understands 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 in accordance with Scotiabank's Values, Code of Conduct and Global Sales Principles.
• 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.
• 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.
• Implement & manage factor models to systematically decompose real-time risk.
• Streamline regression tests to reduce release-times.

Benefits

• Flexible benefit programs designed to support unique family, financial, physical, mental, and social health needs.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees