Trader I

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Business Coral Gables, FL, US

6 days ago Requisition

JOB DESCRIPTION

TITLE

Trader I

COMPANY

INCUMBENT NAME

DEPARTMENT

JOB CODE

6500782

ULTIPRO TITLE

LOCATION

Coral Gables

FLSA

Exempt

DATE CREATED

10/15/2012

KEY / SENSITIVE

SURVEY COMPANY

Watson Wyatt

SURVEY CODE

Trader is responsible for all away from Pershing executions, sales-trading services to active customers, security structure and market analysis, and provision of recommendations

DIRECT REPORTS

POSITION TO WHICH SUPERVISOR REPORTS

Investment Services Manager

IMMEDIATE SUPERVISOR

Head Trader

Trader I

OTHER POSITIONS THAT REPORT TO IMMEDIATE SUPERVISOR: Junior Trader

ESSENTIALS OF THE JOB

Accountability

• Responsible for the firm’s execution function related to all non-Pershing trades, mainly fixed income. Other execution responsibilities may include structured products, hedge funds, mutual funds and non-Pershing foreign exchange
• Keep abreast of markets and security structures in order to provide analytical based recommendations
• Must follow detailed operational procedures while making sure Investment Consultants have also followed such procedures before accepting an order
• Must follow procedures related to best execution rules:
  Rule 2320(g) documenting all counter parties reviewed and prices offered

Must make any reasonable effort to report eligible trades so firm is in compliance with TRACE reporting rules (Rule 6230)

• Provides day-to-day market insights to Investment Consultants
• Actively participates in problem-solving with current counter parties
• Reviews pricing decisions to validate that mark-ups and commissions are within company guidelines. If a violation is detected, Trader must inform customer-facing role and Principal
• Provides market insight and execution (sales-trading role) to very active customers
• Ensure preventive measures are carried out to fully comply with current rules, regulations and internal policies relating to risks pertaining to BSA, USA Patriot Act, OFAC and other AML related issues
• To identify, evaluate, monitor and make any recommendation deemed necessary to their respective Risk Management Committee in order to assess, reduce, eliminate or control any current or prospective risks to earnings or capital arising from violations of, or nonconformance with, laws, rules regulations, prescribed practices, internal policies and procedures or ethical standards.
• Participate in ad hoc projects

MAGNITUDE:

Trader executes an average of 50 trades per day, valued at over $ 5 million

Revenue generation of over $600,000 per month

Execution errors are absorbed by company. Great accuracy is required to avoid costly errors

Operating Budget (Including Payroll & Benefits):

$

$

Number of Direct Reports:

Exempt:

Nonexempt:

Total Employees Responsible For:

Exempt:

Nonexempt:

$

Problem Solving

• Execute trades among different options with great accuracy
• Define ways to solve execution problems
• Maintain a continuous flow of information and develop strong ties with counter parties
• Workload subject to intense peaks, job requires maintaining high accuracy under pressure

Know How

Functional Skills & Knowledge Requirements:

Must be a team player, have the ability to work under pressure, have a professional image and be able to resolve problems and conflicts. Must be able to prioritize work and effectively manage time and have the ability to manage change. Must possess basic business communications skills such as advanced writing, listening and have basic office and mathematics skills, and customer service skills.

Possession of professional skills such as report writing, advanced statistics, effective presentation skills, creative skills, budgeting and conducting effective meetings and research assessment are required.

Minimum Education and/or Certifications Requirements:

Bachelors Degree in Finance, Administration or Business

Minimum Work Experience Requirements:

3 years of relevant experience (Treasury, Trading or Execution desk)

Technical and/or Other Essential Knowledge:

Previous experience with Lotus Notes,…