Fixed Income Repo Sales Trader

Permanent contract|London|Corporate & Investment banking

Fixed Income Repo Sales Trader

London, United Kingdom Permanent contract Corporate & Investment banking

Responsibilities

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.

The London & Western European Repo Desk is one of the key trading desks within the Fixed Income division of Market Activities at Society Generale Corporate and Investment Banking. Its primary role is internally to ensure the financing and short-covering of all cash trader’s positions within the Division, but first and foremost to service a wide range of clients externally, from Central banks to Asset Managers to Hedge funds, in all their securities-financing requests.

Summary of the key purposes of the role

1 - To finance and cover the fixed-income positions of the Bank and manage the liquidity of the fixed-income books, essentially in the UK government debt, but also in all others when required, especially UST and non government debts.

2 - 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.

3 - 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. 

Conduct Responsibilities

  • 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

Other

  • 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.

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.

Profile required

Competencies

  • 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).

Why join us

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.

Business insight

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 Société Générale, 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.

We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents, regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, sexual or gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.

Reference: 21000R5M
Entity: SG CIB
Starting date: 2021/11/08
Publication date: 2021/09/09
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