ETF Capital Markets, Fixed Income Senior Specialist

The Vanguard Group • Malvern, PA

156d • Hybrid

About The Position

At Vanguard, we don't just have a mission—we're on a mission. To work for the long-term financial wellbeing of our clients. To lead through product and services that transform our clients' lives. To learn and develop our skills as individuals and as a team. From Malvern to Melbourne, our mission drives us forward and inspires us to be our best. Vanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience. Vanguard, one of the world's largest investment management companies, serves individual investors, institutions, employer-sponsored retirement plans, and financial professionals. We have a diverse and talented crew with a culture that promotes teamwork, along with an unwavering focus on serving our clients' best interests.

Requirements

• Eight years related work experience, including five years investment management experience.
• Five years Capital Markets and/or Fixed Income experience preferred.
• Undergraduate degree in finance or economics or equivalent combination of training and experience required.
• Graduate degree preferred.
• CFA preferred.
• For US crew, this job requires a regulatory license and/or registration (e.g. FINRA, state, SFC). These will be determined by Compliance based on role-specific duties.

Responsibilities

• Manages strategic relationships with senior contacts at investment banks, exchanges, market makers, index providers, and vendors.
• Focuses on enhancing fixed income ETF liquidity and execution by cultivating partnerships with key fixed income trading counterparties and authorized participants.
• Acts as a subject matter expert on fixed income ETF trading and market structure, with a focus on ETF pricing, liquidity sourcing, and execution strategies.
• Advises on regulatory and market structure developments.
• Collaborates with regulators, exchanges, and industry groups to advocate for improvements in fixed income ETF transparency, basket flexibility, and pricing efficiency.
• Represents Vanguard at industry events and symposiums.
• Partners with Sales and Product teams to support client engagement and education.
• Develops technical content and training focused on fixed income ETF characteristics, including duration, credit risk, and liquidity.
• Supports sales campaigns and client implementation discussions.
• Monitors macroeconomic, regulatory, and market trends to inform ETF strategy.
• Analyzes how interest rate movements, credit conditions, and market volatility impact fixed income ETF flows, spreads, and performance.
• Provides insights to guide product development and trading enhancements.
• Leads the fixed income ETF basket creation process.
• Oversees the design and optimization of standard and custom baskets, balancing liquidity, tracking error, and transaction costs.
• Coordinates with portfolio managers and market makers to ensure efficient execution.
• Drives cross-functional initiatives to improve ETF infrastructure and operations.
• Participates in projects focused on automating fixed income ETF workflows, enhancing data analytics, and improving trading and operational efficiency.
• Participates in special projects and performs other duties as assigned.

What This Job Offers

• Industry: Securities, Commodity Contracts, and Other Financial Investments and Related Activities