Mortgage-Backed Securities (MBS) Allocations provides comprehensive support and value-added services to Agency Pass-Through Trading Desk. The group performs these functions through judicious allocation of TBA trades. This support requires strong multi-faceted individuals, who possess the ability to learn in a fast-paced and stressful environment. It is critical that the individual has the aptitude necessary to understand the economics and behaviour of mortgage products traded.
The individual will be required to establish close working relationships with the Trading Desk, Sales Desk, Clearance, Technology, Credit, Legal & Compliance and Trade Accounting.
This individual should possess the following characteristics:
¨ motivated, and hard working
¨ highly organized
¨ adept in time management
¨ ability to prioritize well
¨ excellent communication skills
¨ detail oriented with high degree of accuracy in all duties
¨ self starter
¨ strong follow through skills
¨ ability to handle multiple transactions simultaneously
¨ must respond well to short notice and deadlines
¨ strong team player
strong management skills
¨ Manage team of Allocation Analysts; primary duties include the recruitment, setting and adjustment of compensation, hiring, training, development, setting and evaluation of performance objectives, discipline and retention of subordinate Allocation Analysts.
¨ Manage, supervise and exercise complete oversight authority over the performance and strategic decisions of the Allocation Analysts.
¨ Manage all aspects of information retention that relates to allocation process.
¨ Manage all aspects of the MBS allocation process, including critical 48 hour cycle.
¨ Strategize with trading personnel to maintain trading positions.
¨ Investigate and resolve position outs and fails.
¨ Assist in allocation and settlement of Remics, Giants, Megas, and Platinums.
¨ Manage maintenance and reconciliation of MBSCC trade activity.
¨ Manage identification and distribution of necessary information to Trading Desk, Sales Desk, customers, and Operations to resolve settlement discrepancies.
¨ Monitor and advise regarding position management.
¨ Manage subordinates’ compilation of management reporting information regarding trade activity.
¨ Interaction with Trading Desk and Sales Desk to assure proper implementation of allocation process.
¨ Interaction with Allocations, Reconciliation, and Trade Support teams to assure proper implementation of allocation process.
¨ Identify improvements to processes and procedures that promote efficiencies and reduce cost.
¨ Identify system weaknesses, partner with IT to design and implement technology solutions.
¨ Establish external relationships and participate in industry initiatives.
Validate CPR claims and oversee restitution process.
The candidate must possess excellent communication, presentation, and management skills.
- Bachelor’s degree required (Finance or Business) preferred.
- Prior management experience in MBS operations required.
- Strong knowledge of and extensive experience with mortgage backed securities required.
- Strong knowledge of and extensive experience with FICC and operational procedures required.
- Proficiency with Microsoft Office applications required.
- The candidate must be a detail oriented self-starter with strong organizational and communication skills, the candidate must also be able to work on multiple transactions and respond well to a deadline oriented environment.
"It is the policy of The Royal Bank of Scotland, PLC to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity or expression, disability, genetic information, pregnancy, veteran or military status, marital or domestic partner status, or any other factor protected by federal, state, and/or local laws."
“Employer immigration sponsorship not available for this role.”
RBS - 20 months ago