Fixed Income Financing Trading – Analyst

JPMorgan Chase & Co. • New York, NY

11h

About The Position

Specials Trading in North America is a part of the Fixed Income Financing
business which sits within Rates Trading. The Specials business interfaces with
a broad range of clients across hedge funds, asset managers, central banks,
other dealers and internal cash desks. It is a multi-asset business quoting repo
pricing across both investment grade and high yield credit markets. Specials
Trading delivers liquidity to the firm’s key strategic partners that operate in
the North American Fixed Income Credit space via a team of dedicated repo
traders and repo sales.

The desk belongs to the global FIF offering which includes Sovereign, Credit and
Emerging Markets financing desks.

Opportunity
To work in a fast moving trading role in the heart of the Credit Repo market.
The main objective is to manage positions and risk arising from demands of both
internal and external clients by facilitating their trading strategies. This is
done by sourcing liquidity from bond holders to match up and lend onwards to a
diverse client base and internal trading desks. These flows are quoted by a
dedicated repo sales team, as well as via direct interactions between trading
and relevant counterparties.

The candidate would contribute ideas and operate in both short term interest
rate markets and credit markets, using a variety of products to mitigate risks
arising from trading positions. The hired trader would work closely with
multiple teams and provide commentary and market analysis, as well as managing
the day to day flow activity and risk in our combined trading book. The last few
years has seen significant progress in the development of e-trading and
electronification in our business, and there is opportunity to assist with
further progress of the business in this direction. The candidate would also
occasionally be expected to assist the Sovereign repo desk.

Requirements

• Previous relevant experience gained within a similar Banking Markets role.
• An interest and a desire to learn more about global financing markets, rates and credit products.
• Attention to detail and the ability to manage multiple time sensitive processes in a pressured environment.
• Analytical mind and proactive attitude to problem solving.
• Ability to work as part of a close team with a strong focus on counterparty relationship management.

Responsibilities

• Market making in US corporate bonds in repo.
• Managing trading risk and hedging positions in USD short term interest rate curves.
• Maintaining strict compliance with regulatory and legal requirements.
• Working closely with sales to facilitate client trading strategies.
• Engaging directly with multiple counterparties and interdealer-brokers to build business through meetings, calls, dinners and events.
• Writing trader commentaries on intra-day market analysis by investigating flow trends, macro news and leveraging internal research.
• Look to streamline desk process where required and help advance the desk automation and e-trading agenda.
• Assist with the post trade process by ensuring the accuracy of all bookings and to ensure internal controls are followed.

Benefits

• We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location.
• Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions.
• We also offer a range of benefits and programs to meet employee needs, based on eligibility.
• These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more.
• Additional details about total compensation and benefits will be provided during the hiring process.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: No Education Listed
• Number of Employees: 5,001-10,000 employees