Job vacancy: ABS/MBS structurer, Tokyo
The editorial team of eFinancialCareers.com analyses a current job vacancy that looks significant, intriguing or otherwise of interest: Top-tier US bank seeks ABS/MBS structurer, vice president level, Tokyo.
Even in a downturn some positions can be tough to fill. Usually they are the ones that require esoteric knowledge - in this case, familiarity with the Japanese asset-backed securities and mortgage-backed securities markets.
Shaun Springer, of the headhunter Napier Scott, says the reluctance of many Japanese bankers to move job can make an assignment such as this a particular challenge.
The hiring bank, one of the big US players, will probably offer more money than local institutions. These do not tend to big payers. But local attitudes to work make a banker in Tokyo less likely to be enticed away than employees in London, New York or Hong Kong.
This caution means the position is quite likely to be filled by a non-Japanese, or a Japanese who has spent time abroad and has a more adventurous approach to his career. Since the post mainly involves selling Japanese securities to the Japanese market - banks, corporates and insurance companies - the successful applicant will also have to speak Japanese.
They will in addition have spent several years structuring ABS/MBS products as well as related products, Napier Scott says in an advertisement for the job.
The ABS/MBS market is not exactly sizzling in Tokyo. Foreign institutions have little appetite for local products and domestically the market is flat too; pay in the sector has fallen as a result, says Springer.
But for the right person, Napier Scott says the US bank is willing to offer a substantial amount - several hundred thousand pounds a year may not be unrealistic.
The job is a new position, reporting to the deputy head of Asian structured products, which means there is potential for involvement with other countries in the region as well as Japan.
For such roles, a regional language may not be essential. The bank is increasing its presence in structured products across Asia, Napier Scott says.
Job Vacancy looks at advertisements from both eFinancialCareers.com and other sources
