Securities Finance: Agency Lending-Trader, Assistant Vice President

State Street Corporation
Boston, USA
17 Jun 2022
01 Jul 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Who we are looking for:

Our trading team generates revenue for clients by lending their securities to borrowers in return for fees which accrue over the duration of the loan. Each asset has its own intrinsic value and traders utilize a variety of sources to determine the loan fee for each security. This includes macro- and microeconomic factors, global, sector or company specific news, corporate events, as well as supply and demand dynamics. All data points enable us to maximize revenue through pricing and distribution of assets both at the point of execution and throughout the lifecycle of the trade.

State Street's award winning Agency Lending team is a market leader in Securities Finance and a marquee product within our Global Markets business.

We offer innovative financing solutions to clients in a $3.97 trillion industry providing liquidity to global financial markets. We generate over $1.2bn annualized revenue for over 225 active customers including many of the largest sovereign wealth funds, asset managers and pension funds who entrust State Street with over $5 trillion in lendable inventory.

We trade with over 150 banks, brokers and investment managers across 37 lending markets from trading desks in 6 global locations.

Why this role is important to us:

The team you will be joining is a part of State Street Global Markets (SSGM). When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to SSGM business unit. As our investment research and trading arm, SSGM's number one goal is to enhance and preserve our clients' portfolio values by applying technology, optimizing trading, and linking asset classes and markets across the world.

Join us if making your mark in the capital markets industry from day one is a challenge you are up for

Job Responsibilities

As Securities Finance: Agency Lending- Trader, Assistant Vice President , you will
  • Thrives in a fast paced, dynamic environment
  • Is a go-getter, with positive energy that throws themselves into new challenges
  • Isn't afraid to ask questions and challenge the status quo
  • Seeks to find ways to drive productivity and efficiencies
  • Has excellent verbal and written communication skills to build relationships with counterparties and clients
  • Is detail oriented, as small things can make all the difference
  • Is a note-taker and information sharer
  • Is a team player, but can also be trusted individually own problems until they are solved
  • Accepts feedback to continually develop and improve
  • Can jump from one task to the next, strategically prioritizing one task over another
  • Loves data and has quantitative skills to manipulate large datasets
  • Holds up their hand when they make a mistake as no-one's perfect
  • Loves to solve problems and want to be part of a winning team

What you'll be doing

Your role as an Agency Lending Trader sits on the US Equity Agency Lending Trading team in Boston. This group is responsible for maximizing the return to lendable for our clients US equity portfolios. This is done through effective distribution, and subsequent life cycle management of all trades on the book. In this capacity you will be responsible for the day to day trading of the book, and learning different strategies from more senior members of the team.
  • Evaluate lending opportunities on a daily basis (from 7 am - 5 pm) by assessing supply/demand dynamic for all lendable assets
  • Responsible for the distribution and pricing of all new and existing equity loans
  • Responsible for meeting revenue targets and achieving optimal return to lendable assets for clients while managing within appropriate risk limits
  • Maintain a strong knowledge of market trends and trading strategies that influence the lending market
  • Proactively engage with subject matter experts to glean business and market knowledge
  • Develop and maintain strong and diverse borrower relationships
  • Evaluate collateral options in terms of both value and risk, and provide cash liquidity where applicable
  • Innovate and explore ways to improve current systems and processes
  • Liaise with Business Development, Client Management, Technology, Operations, and Risk
  • Engage proactively with Business Risk Management team
  • Comply and adhere to all global trading procedures
  • You will be part of the broader Securities Finance ecosystem that is composed of three products - Agency Lending (AL), Enhanced Custody (EC) and Alternative Financing Solutions (AFS).

Securities Finance places a strong emphasis on collaboration and talent development and there will be many opportunities to work closely with our Business Development, Client Management, Algorithmic Trading, Technology, Operations and Risk teams. You will be required to build relationships across these teams to maximize successful outcomes.

What we Value

Personal development opportunities and extensive web-based training catalogue

Global inclusion, global outreach and corporate citizenship programs including volunteering

Dynamic and diverse international and multi-cultural working environment

Education & Preferred Qualifications
  • Bachelor's degree in business, finance, or related disciple
  • Minimum 2-5 years' experience in a relevant role, preferably Securities Finance
  • Outstanding communication (written and verbal) and interpersonal skills. Ability to interact professionally with business leaders and peers across multiple levels of the organization
  • Ability to work independently and as a member of team
  • First-class organisational skills and attention to detail
  • Strong problem solving, analytical and technical skills
  • Ability in Qlikview, VBA, Python (Pandas / Numpy etc) or equivalent programming language an advantage

About State Street

What we do

State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow

We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You'll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility

We truly believe our employees' diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

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