Junior Advisory Fixed Income Trader

Royal Bank of Canada • Edina, MN

11d • Onsite

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

• 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.
• 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.
• Remain aware of changing compliance standards.
• Retain appropriate records and adhere to all compliance reviews and requirements.
• 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

• 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

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level