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I had a lovely job in London, but I'm suffering in Sydney: REVIEW MY RESUME

"I'm not challenged in my current job, particularly in comparison with the role I had in the UK. I am now looking for a similar dealer-type position to my London one, but I realise that the repo and stock-loan market is small in Sydney. I was paid well in London and worked in a fast-paced, challenging, high counterparty-contact environment. My current role achieves none of these."

Can this candidate find his dream job, but still live in Sydney? Read his resume and leave your comments in the box below.

Employment History

A university in Melbourne (2000 - 2003)

· Bachelor of Economics

Financial Services Authority (FSA)

· Controlled Function Approved person

CFA Lvl I

· Completed June 2010

CFA Lvl II

· Candidate June 2011

Systems Experience

· Bloomberg

· Front Arena

· Tradar

· Imagine / Quantum

· Various Broker DMA platforms

Current Employer

Major US investment bank, Sydney (Nov 2009 - current)

Executive, Structured Products

Managing a team of three people responsible for:

· Multiple Fund Threshold Management

· Hedging Operations

· Futures & Options trade monitoring

· Risk Reporting

· New product analysis

Employment History

US-headquartered buy-side firm (Aug 2004 - Sept 2009)

Repo Financing Dealer / Equity Finance Trader / Macro Book Trading Assistant (Oct 06 - Sept 09)

Based in London

· Macro Book Trading Assistant -- STIR (Short-Term Interest Rate) Futures trade execution. Voice dealing and platform trade execution with various Futures broker-dealers. Contracts included Euribor, Eurodollar, Short-Sterling, Bunds, Schatz, Bobl, US 10yr, 5yr & 2yr futures, various Equity Indexes.

· Traded Euribor calendar spreads & Equity Index Futures

· Evaluated overnight market action and daily research releases to assist futures traders prior to market open

· Met with senior bank economists and summarised their positions to senior traders

· Evaluated various DMA platforms and assisted in selection for use by the firm

· Repo Finance Trader - maintaining liquidity of firm's various funds, securing financing via repo trading.

· Securing finance using Government Bonds, ABS/MBS, Corporate Bonds & Convertible Bonds as collateral, from High Grade to High Yield. Rolling of up to USD 6b per month.

· Providing daily financing market updates to senior management & traders, particularly post-Lehman to ensure the financing mix was as low and as safe possible

· Providing information internally on bonds trading special in the repo market, and adding any pertinent information gathered from speaking with repo desks.

· Liaising with liquidity providers in sourcing suitable collateral in order to create portfolios eligible for financing

· Equity Finance - Stock Loan Coverage of all shorts across all markets, dividend enhancement and WHT reduction.

· Execution of OTC / Swap trades

· Execution of FX Trades

· Developing and maintaining external relationships with financial intermediaries on both the Equity and Fixed income sides of the business.

· Management of margin on a daily basis. Requiring full knowledge of the firm's capital position at all times.

· Management of cash flows

· Traded currencies, commodity futures, index futures & options for personal account

Singapore Trade Support (Nov 04 - Oct 06)

· Covering all short positions and recalls on all Asian markets

· Responsibility for Asian settlements and stock loan

· Reconciling Synthetic Long and Short Positions

· Reviewing all over-borrowed positions and return where necessary to reduce borrowing costs

· Reconciling Stock Loan Positions and Activity

· Reconcile and book Resets of Swap positions

· Booking of Corporate Actions

· Allocating costs of borrows to ensure correct internal trading desks are charged.

· Dealing with Prime Brokerage request/queries and liaising with Prime Brokerage Reps.

· Daily contact with brokers, operations and other trading areas.

· Ensuring stocks are balanced for dividend purposes.

Middle Office (Aug 04 - Oct 06)

· Reconciling cash, securities and stock loan

· Monitoring market discrepancies, monitoring/prioritising failing trades

· Liaising with Prime Brokers for settlement of trades

· Calculation of OTC products including CFDs / Total Return Swaps and Portfolio Swaps

· Daily contact with agents and counterparts to identify and resolve settlement issues.

· Close interaction with trade support and traders.

· Setup of new securities in firm's systems

· Maintenance of Futures and Options accounts including execution of relevant underlying or settlement of cash

· Development of in-house reconciliation system, designing, testing and delivering

Major European bank, Sydney (May 2003 - June 2004)

FX / International Operations

· Executing foreign exchange transactions and completion of settlement documentation

· Processing and maintaining records of all PPG and Consulting Group managed funds products and documentation

· Covered Currency Options

· Liaising with Financial Consultants & clients regarding margin calls and overdue funds.

· Distribution of daily trade confirmations

· Performing other duties as assigned by Management

· Participating in department cross-training as required

· Cover for other staff within the Operations team

You too can have your resume reviewed by eFC readers, but only if you:

1) Are currently based in Australia;

2) Already work in the financial services sector; and

3) Can submit a paragraph telling us why you want to move roles, and what type of job you want to secure.

So if you are based in Australia (no CVs from the UK, US, India or anywhere else please) and meet the other two criteria, submit your CV to us by emailing apac.editor@efinancialcareers.com.

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AUTHOReFinancialCareers Australia Insider Comment
  • MA
    MATNV
    12 January 2011

    I'm not sure any company in Australia can offer what you're looking for but I presume you didn't return for career reasons and that you knew the market, pace and positions available here are no comparison to London. I must admit it does feel 'small' and very domestic focused with an ever prominent focus on the work-life balance but that shouldn't be a surprise really and is not a bad thing either. Perhaps you're just in a transition phase adjusting to the difference. May also need a change in mindset - switch from a high pressure, high reward environment and mentality to a more relaxed life where the hours and pressures are less but pay is still pretty good. Failing that, as the others suggest move back overseas. Let us know how you get on!

  • Ca
    Carol
    12 December 2010

    Once you've worked in Asia, London etc it is difficult to come back to Sydney. In the banks in particular there is a disproportionate number of mediocre managers who go out of their way to make sure staff produce dumbed-down and dull garbage. Best to do things at a slow pace too as anything other tends to threaten them. Sorry but this is not a one-off experience but has happened to me time after time.

    Cut your losses. Most of the good Australian managers have left. In so many places the idea that someone should get promoted on merit has disappeared. I really think that the Australian workplace is in bad shape at present. In the end it may have been better that they had a recession here to get rid of this dead wood.

  • we
    webbml
    10 December 2010

    Pack your bags and go while you still can. Your quals & experience are good but too good for here.

  • AO
    AOG
    10 December 2010

    If you're keen to stay in Oz, try the Future Fund or Telstra Super in Melbourne (or some of the other large super funds). They are increasingly building internal investment capabilities, in particular Cap Mkts functions.

  • On
    Only Siziba
    9 December 2010

    Your experience in Asia would be an asset in the United States.

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