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.
- 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.
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.