Fixed Income Financing Trading – Associate

JPMorgan Chase & Co. • New York, NY

12h • $150,000 - $200,000

About The Position

The Associate will join the North American Specials Trading team within Fixed Income Financing, which sits within Rates Trading. The business quotes repo pricing across investment-grade and high-yield credit markets and provides liquidity to strategic partners in the North American fixed-income credit market. It serves hedge funds, asset managers, central banks, other dealers, and internal cash desks, as part of a global financing offering that includes Sovereign, Credit, and Emerging Markets financing desks.

This is a fast-moving trading role in the credit repo market. The trader will manage positions and risk driven by internal and external client demand, facilitating trading strategies by sourcing liquidity from bondholders and lending it onward to clients and internal trading desks. The role involves contributing ideas across short-term interest-rate and credit markets, using a variety of products to mitigate trading risks, collaborating with multiple teams, providing market commentary and analysis, and managing daily flow activity and risk in the combined trading book. The Associate may help advance e-trading and automation and may occasionally assist the Sovereign repo desk.

Requirements

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

Responsibilities

• Make markets in US corporate bonds in repo.
• Manage trading risk and hedge positions in USD short-term interest-rate curves.
• Maintain compliance with regulatory and legal requirements.
• Work closely with sales to facilitate client trading strategies.
• Engage directly with counterparties and interdealer brokers to build business through meetings, calls, dinners, and events.
• Write trader commentary on intraday market activity by investigating flow trends and macro news and leveraging internal research.
• Streamline desk processes where needed and help advance the desk's automation and e-trading agenda.
• Support post-trade processes by ensuring booking accuracy and adherence to internal controls.
• Manage day-to-day flow activity and risk in the combined trading book.
• Provide commentary and market analysis and contribute ideas in short-term interest-rate and credit markets.
• Occasionally assist the Sovereign repo desk.

Benefits

• Competitive total rewards package, including base salary and, for eligible roles, commission-based pay and/or discretionary incentive compensation in cash and/or forfeitable equity.
• Comprehensive health care coverage.
• On-site health and wellness centers.
• Retirement savings plan.
• Backup childcare.
• Tuition reimbursement.
• Mental health support.
• Financial coaching.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed