Prime Brokerage Associate Prime Brokerage Associate …

PIMCO
in Austin, TX, United States
Permanent, Full time
Last application, 29 Nov 21
Competitive
PIMCO
in Austin, TX, United States
Permanent, Full time
Last application, 29 Nov 21
Competitive
Prime Brokerage Associate
About Us:

We are PIMCO, a leading global asset management firm. We manage investments and develop solutions across the full spectrum of asset classes, strategies and vehicles: fixed income, equities, commodities, asset allocation, ETFs, hedge funds and private equity. PIMCO is one of the largest investment managers, actively managing more than $2.22 trillion in assets for clients around the world. PIMCO has over 3,000 employees in 20 offices globally. PIMCO is recognized as an innovator, industry thought leader and trusted advisor to our clients.

PIMCO is one of the world's premier fixed income investment managers with thousands of professionals around the world united in a single purpose: creating opportunities for our clients in every environment. Since 1971, we have brought innovation and expertise to our partnership with the institutions, financial advisors and millions of individual investors who entrust us with their assets. We aspire to cultivate performance and leadership through empowering our people, diversity of thought, and a commitment to an inclusive culture that engages in our global communities.

Position Description:

This position is part of our Trade Support group focusing on prime brokerage oversight and collateral management and represents an opportunity to learn and contribute to PIMCO's operational infrastructure. As a Prime Brokerage Associate, you will be primarily responsible for the day-to-day operational interactions with PIMCO's prime brokers as well as oversight of the portfolio activity and services in which they facilitate. This position requires assertiveness, acute attention to detail, and an aptitude for managing multiple competing priorities with minimal oversight or direction. Additionally, this position requires agility in a challenging and fast-paced environment. Prime brokerage is an area of increasing focus at PIMCO, of which you will be an integral part. This function will require daily verbal and written interaction with Portfolio Managers, Trade Assistants, Risk Management, Legal & Compliance, PIMCO counterparties, and State Street IMS.



Location : Austin, TX

Key responsibilities include, but are not limited to:

  • Assist in development of firm-wide Prime Brokerage program including onboarding of new prime brokerage relationships
  • Support processes for daily margin call validation and reconciliation
  • Facilitate sourcing of appropriate collateral and funding of margin calls using proprietary algorithms and 3 rd party applications
  • Assist in onboarding of 3 rd party vendor for prime brokerage oversight
  • Work with 3 rd party vendor to replicate prime brokerage house models with high degree of accuracy
  • Oversight of portfolio expense reconciliations and proactive break resolution
  • Instruct asset transfers to facilitate portfolio optimization to reduce margin requirements
  • Development of metric reporting to monitor prime brokerage counterparty exposure and pinpoint areas of risk
  • Conduct scenarios analyses and "what if" trade simulations for PM team through use of a 3 rd party application
  • Pro-actively seeking and driving opportunities to improve collateral optimization and increase efficiency
  • Actively participating in Industry and Regulatory initiatives and developments
  • Assist in development and maintenance of broker relationship oversight program
  • Supporting and/or managing projects and directly contributing to the advancement of workflows, processes and prime brokerage oversight objectives


Position Requirements:

  • Excellent communication (verbal and written), facilitation, and interpersonal skills, including the ability to face off across all levels of an organization
  • Strong team player; ability to partner effectively with multiple teams
  • Strong organizational and program management skills, including the ability to multi-task and manage a large number of ongoing initiatives
  • Strong analytical, problem solving, and troubleshooting skills
  • Strong attention to detail
  • Demonstrated ability to deliver on assigned responsibilities through commitment to quality, impeccable attention to detail, and use of effective interpersonal and communication skills
  • Inquisitive self-starter, ability to flourish within the firm's demanding, fast-paced, and highly focused environment with shifts in priorities as business needs dictate
  • Strong ability to acknowledge and adapt to diverse styles, and cultures
  • Quick learner and adaptable to learn new processes, concepts, and skills
  • Demonstrated ability to navigate unstructured processes and simultaneously manage responsibilities of multiple-concurrent work streams and competing demands


Professional Skills Requirements:
  • Minimum of a Bachelor's Degree
  • 3-5 years of Investment Operations experience, preferably with a focus on prime brokerage
  • Prior exposure to equity derivatives highly desirable
  • Basic to intermediate understanding of OTC derivatives, exchange traded derivatives, repurchase agreements, and equity products are recommended.
  • Familiarity with ISDA and Prime Brokerage documentation
  • Practical experience using prime brokerage services, preferably at a top tier investment bank or buy-side institution
  • Experience with issue resolution and escalation of trade breaks, disputes, and confirmation issues
  • Desire to participate in and lead projects and initiatives that overlap with other operational functions
  • Strong Excel skills and database knowledge
  • Ability to effectively communicate across an organization, including: Counterparties, Portfolio Managers, Risk Management and Legal Departments
  • Must have experience in managing processes, and prioritizing multiple tasks within a high paced, high pressure environment, and possess an acute attention to detail
  • Prior experience implementing relevant industry initiatives and developments to ensure the team remains on the cutting edge of legal requirements and best practices


Benefits:

PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and well-being of you and your family. Benefits vary by location but may include:
  • Medical, dental, and vision coverage
  • Life insurance and travel coverage
  • 401(k) (defined contribution) retirement savings, retirement plan, pension contribution from your first day of employment
  • Work/life programs such as flexible work arrangements, parental leave and support, employee assistance plan, commuter benefits, health club discounts, and educational/CFA certification reimbursement programs
  • Community involvement opportunities with The PIMCO Foundation in each PIMCO office


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