Junior Fixed Income Repo Sales-Trader
- London, England, United Kingdom
- Permanent, Full time
- Société Générale - UK
- 23 Jan 18 2018-01-23
Junior Fixed Income Repo Sales- Trader
People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours. It's personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation. Bringing words like “hard work” and “dedication” together with “community” and “respect” has enabled us to work collaboratively and build our future together. We call this Team Spirit and it's what makes us different. It's what makes you different.
Description of the Business Line or Department
The Global Markets functions is a trusted partner to external clients (Corporates, Financial institutions and Asset Managers) in market activities, offering a cross-expertise in Research, Investment and Risk Solutions, Execution and Prime Services.
Fixed Income and Currencies
A Solutions and Derivatives House
The Fixed Income department at Societe Generale aim at providing a full set of services to Institutional and Corporate clients that will support their investment or risk management targets.
Thanks to market-leading research, engineering, trading and e-commerce capabilities, our clients benefit from strategic insights, flow information, competitive pricing and seamless execution across rates, credit, FX, and emerging markets.
We design solutions for our clients, capitalising on the full spectrum of fixed income and currencies products and services.
Linking Borrowers to Investors from Origination to Distribution
We service our clients on the full credit spectrum from Investment Grade to High Yield and X-Over and on cash as well as indices, options and singe name CDS.
Global FX and Emerging Markets
European Market Leader with Emerging Market Focus
Our clients can tap our capacity to execute large FX deals. We also offer a global coverage on all major currencies, and the local access of our global emerging markets platform spanning CEE, Asia, Africa and Brazil.
Access to cash and Derivatives
Through packaged trade ideas or flawless execution, we offer our clients the best of our trading and structuring expertise. Our capabilities span from derivatives to government, agency & supranational securities to covered bonds, inflation-linked products and ETFs.
Summary of the Key Purposes of the Role
• To finance and cover the fixed-income positions of the Bank and manage the liquidity of the fixed-income books, essentially in the UK and European government debts, such as Germany, Netherland, Austria and Finland, but also in all others when required.
• To quote clients in all their securities financing queries regarding the same perimeter as described above, either directly within the sales-trader mandate or through a salesperson.
• To monitor all securities financing exposures and risk, ensuring they always remain within the limits defined.
Summary of Responsibilities
Client Coverage Responsibilities (Internal and External Clients including market participants)
• Develop our profile and reputation among clients as a reliable market maker
• Build, foster and cultivate client relationships in line with regulatory requirements
• Develop long term relationships with clients based on trust and professionalism
• Provide reliable backup and support as required for other colleagues within the team
• Develop the client franchise by having strong interaction with the sales and engineer teams. Work in partnership with sales team to communicate market flows, trade ideas and any relevant trading information to support revenue generation.
• Maintain and develop strong interactions for both internal stakeholders (e.g. sales, GLFI, Syndicate, Research, Compliance, Middle/back office, IT, Eng and Risq etc.) and our customers.
Product Scope Responsibilities
• Pricing and execution of relevant product transaction on behalf of SG Clients. Making sure that all the procedural guidelines e.g. KYC, Mifid, risk controls and product governance are observed
• Take orders and execute on behalf of clients in accordance with SG Sales and Trading handbooks, risk and credit limits, SG compliance policies and regulatory guidelines.
• Implement team business plan to develop SG business as directed
• Manage his/her book and hedge risk appropriately
• Support the development of IT tools and systems to enhance SG's trading efficiency (e.g. automation, pricing engines, development of analytical tools and new hedging as applicable)
• Using SG trading tools managing/ Monitoring the profit and loss of SG's account. Ensuring respect to relevant trading limits and risk management.
Knowledge Management Responsibilities
• Maintain up to date intelligence on market initiatives and products in the trading environment
• Develop understanding of financial markets, competitors and clients to develop own trading position.
Risk Management Responsibilities
• To further improve SG market share and reputation through professionalism, discipline and attention to risks e.g. compliance, market, credit, legal, reputation.
• Ensure full adherence to the SG Sales and Trading responsibilities including Sales and/or Trading handbook and regular training as applicable to the regulatory requirements. Ensuring compliance with all trading recording procedure and counterparty trades are within operating credit limits.
• Responsibility to adhere to internal Policies that relate to you, your business or other businesses for which you have any level of responsibility. It is your responsibility to ensure compliance with operational and conduct risk requirements (e.g data leakage, security policies and regulatory requirements).
• Adhere to individual and where applicable department conduct rules in accordance with the FCA and PRA Code of Conduct rules
• Responsibility for managing, controlling, preparing and escalating risk within the scope of your position and in line with existing policies.
• Responsibility to ensure that you take reasonable steps to be fully aware of, understand and comply with all regulatory requirements from all regulatory and statutory bodies, trading venues, etc that are applicable to your role and business line.
• To assist in the self identification of all conduct related issues. Ensure escalation to appropriate stakeholder or function whether internal or external.
• Adhere to business line mandates relevant to the role as directed by your manager
• This description is intended to outline the main responsibilities for the role and is not an exhaustive list, responsibilities may vary from time to time as directed by your manager
Please list all key external contacts
The trader is expected to be constantly in contact with many market participants: from peers of the interbank market, to intermediary brokers, to salespeople, to clients directly. There will also be a quasi-constant contact with the middle office and back office departments to ensure - primarily but not solely - the settlement of transactions executed, as well as the overall funding requirements. Given the evolving nature of the business, one would expect also to spend significant time with the Engineering team for more complex solutions offered to clients, but also with fixed income traders, other repo traders within the Group, risk, accounting, compliance and legal departments.
Participation to various Financial Market Infrastructures working groups (such as, but not limited to, electronic trading platforms) is also expected.
Level of Autonomy and Authority
While (sales) trading is expected to be conducted in an autonomous manner or in partnership with a colleague of the same desk, it is expected to constantly follow the code of conduct of SG, and to respect existing limits at all times.
• Some market knowledge and experience in Investment banking/ financial services industry
• Sound numerical and Literacy skills
• Good written and verbal communication skills
• Team player, proactively shares information and collaborates with others
• Highly motivated, proactive and entrepreneurial
• Reliable professional conduct
• Ability to work autonomously and be responsible for following matters through to completion
• Strong analytical skills and an aptitude for numbers with excellent attention to detail
• SG Leadership Model competence as defined for individual contributors
• Ability to develop relationships based on trust and professionalism
• Language requirements if applicable are as defined to support the role purpose and coverage areas. (English is the business language for SG).
If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Societe Generale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender reassignment.