More than 30 years ago, E*TRADE pioneered the online brokerage industry by executing the first-ever electronic individual investor trade. While the landscape of our industry has changed dramatically, our culture of innovation and drive to make online trading accessible to everyone continues to drive us forward. We believe in challenging the status quo, fostering an environment of curiosity and learning, and, above all, putting our customers first.
The position is part of the fixed income trading desk. The team manages the interest rate risk of the entire balance sheet and runs the bond portfolio (roughly 45Bn).
The team and the role have high visibility to Senior Management and the CFO. The role provides an opportunity to get exposure to a wide range of areas - Treasury, Portfolio Management, Accounting, Regulatory Reporting, Interest Risk Management, Brokerage Business etc.
The role requires an individual who is very structured, analytically strong, has a strong sense of ownership, and is able to work collaboratively with different groups.
Director will have oversight around portfolio performance risk and work closely with asset managers, treasury and risk management team to manage the risk within the balance sheet. The job includes but not limited to:
- Analyze portfolio performance and risk. Develop and recommend portfolio strategies as appropriate as well as generating trading strategies. Monitor and structure effective hedges. Liaise with various asset product heads in working towards optimal hedge processes. Generate alpha by identifying and positioning out-of-model trade opportunities and market aberrations.
- Analyze the trade offs of accounting volatility versus economic risk - Identify areas of sub optimal hedging - Provide recommendation of hedging or not hedging. Create trading tools for interest rate hedging programs, position monitoring and trade execution.
- Trade multiple parts of the curve, multiple liquid products (swaps, options), volatility and other relative value strategies. Drive the execution performance for the rates strategies.
- Ensure Value-at-Risk analyses on derivatives are performed regularly. Lead efforts to drill down to sources/causes of potential volatility. Identify business causes of volatility sources, devise business/process changes that can mitigate volatility and work with cross-functional team members to implement corrective actions. Proactively analyze derivatives portfolio to identify and action ways to reduce potential volatility, economic risk and notional size. Lead projects to identify risks, manage those risks and share potential solutions. Ensure compliance with relevant procedures and policies for hedge accounting.
- Utilize statistical and mathematical skills to perform quantitative analysis of fixed income securities and global fixed income markets. Analyze data and information using stochastic calculus and numerical methods like finite difference and Monte-Carlo simulation; perform non-linear time series/statistics in interest rate analyses and macro economic models. Review strategy, activity, and market conditions. Assist in model validation, pricing, and structuring.
- Help train and develop junior traders. Partner with the Head of Fixed Income in implementing business MIS and productivity/effectiveness analysis.
- Bachelor's degree in Finance, Accounting physics, math, engineering or business related field
- 8-10 years Financial Services experience leading portfolio performance and risk programs.
- In-depth understanding of investment products
- Experience in development of models based on Monte Carlo simulations
- Excellent understanding of investment and finance concepts and be able to creatively apply them in solving analytical problems in the business setting.
- Excellent presentation & communication skills
We offer a competitive and comprehensive benefits package. Please visit https://www.etradecareers.com/why-work-at-etrade/employee-benefits/ to learn more about the opportunities.
E*TRADE Financial is an Equal Opportunity Employer who encourages diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, national origin, religion, sex, age, disability, citizenship, marital status, sexual orientation, gender identity, military or protected veteran status, or any other characteristic protected by applicable law.