Junior Advisory Fixed Income Trader

RBC•Minneapolis, MN

5d•$55,000 - $95,000

About The Position

The Advisory Fixed Income Trader is a professional who seeks best execution in the trading of Fixed Income products for Financial Advisors who transact in fee-based accounts. This trader would join a proactive team who, through education and idea generation, drive productivity and deliver excellence in pricing, product and service to our FA’s with focus on their clients’ best interest.

Requirements

Bachelor's Degree, or the ability to demonstrate experience or academic achievement in related fields such as Economics, Finance, or Mathematics, or equivalent work experience
Demonstrated knowledge of fixed income markets, economics, marketing strategies, and other fixed income instruments or willingness to learn
Proficient with Bloomberg and other investment software packages
Series 7 & 63 licenses or acquire within 90 days
Ability to work in the U.S. without sponsorship

Nice To Haves

1-2 years in Fixed Income environment and exposure to trading activity
Prior experience in trading processes and procedures
Proficiency with the Tradeweb platform

Responsibilities

Trading and execution: Execute fixed income trades with focus on best execution on every trade, making every dollar count.
Facilitate trades in an agency capacity in a timely manner.
Provide price guidance and point out security specific issues that FA should be aware of before executing (i.e. de minimis, calls/puts/sinkers, etc.)
Develop and maintain intimate awareness of market and relative value in sectors in order to assess appropriateness of pricing.
Create and build relationships in the street in order to source quality product at attractive prices, secure appropriate bid levels, and provide an active market for all fixed income products.
Idea Generation: Identify replacement ideas if pricing is off market or bonds trade away.
Proactively provide FAs with sector specific offerings, ladders, swaps, and other actionable ideas.
Respond quickly and precisely to inquiry from individual FAs with specific offerings or broader portfolio reviews.
Build relationships with the retail network by maintaining a high level of service.
At all times be fully conversant and knowledgeable of market conditions both general and sector specific.
Nimbly keep abreast of industry changes.
Regulatory: Remain aware of changing compliance standards.
Retain appropriate records and adhere to all compliance reviews and requirements.
Collaboration: Work closely with fellow traders to cover sector and communicate ideas to our retail network.
Share ideas and work collaboratively with Strategies, Business Development, and position trading desks to assure cohesiveness of message and keep all desks on the same page.
Leverage street contacts to maximize opportunity and identify value.
Primary focus of the merchandising effort will be directed toward meeting the various product demands of the fee based retail distribution network.

Benefits

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper.
We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
Leaders who support your development through coaching and managing opportunities
Ability to make a difference and lasting impact
Work in a dynamic, collaborative, progressive, and high-performing team
Flexible work/life balance options
Opportunities to do challenging work
Opportunities to take on progressively greater accountabilities
Access to a variety of job opportunities across business
The expected salary range for this particular position is $55,000-$95,000 , depending on your experience, skills, and registration status, market conditions and business needs.
You have the potential to earn more through RBC’s discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.
RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that: Drives RBC’s high-performance culture Enables collective achievement of our strategic goals Generates sustainable shareholder returns and above market shareholder value