Equity Swaps Trader – North America, Vice President, Onsite

Who we are looking for

State Street Prime Services is an alternative to prime brokerage and is a platform that allows clients to borrow securities and finance from a segregated custody account. This structure can reduce counterparty risk, offers additional transparency, and provides greater control over assets. The result is a more efficient and cost-effective way to manage alternative investment strategies. Prime Services has been in business for over fifteen years, has a global client base, continues to experience exponential growth, and is currently one of the fastest growing products within State Street. We are looking for a VP Equity Swaps Trader in Jersey City to help us build and manage our Prime Services Equity Swap offering.

Due to the role requirements, this job needs to be performed in the office.

Why this role is important to us

The team you will be joining is a part of State Street Markets (SSM). When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to the SSM business unit. As our investment research and trading arm, SSM’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. 

In order to meet client demand, Prime Services is expanding its product offering to include Equity Swaps: a market standard Portfolio Swap and a flexible Total Return Swap to suit client needs.

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

What you will be responsible for

As an VP Equity Swaps Trader – North America, you will:

• Act as a primary point of contact for equity swaps for top-tier global funds across various strategies in North America
• Serve as a lead swap trader and product owner in the US as we launch and build out our global swaps offering
• Play a key role in shaping the product roadmap by contributing ideas, challenging assumptions, and working through complex design decisions with cross-functional teams
• Actively monitor and manage financial risk within the swaps trading book
• Ensure swap and hedge bookings are being managed in compliance with market regulations and risk limits
• Ensure swap bookings align with client allocations, dividends and corporate actions are processed accurately, and resets performed correctly
• Reconcile daily PNL and delta exposures and ensure exceptions are explained, investigated, and addressed in a timely manner
• Collaborate across various stakeholders in the organization- including Risk, Compliance, Legal, Ops/Middle Office, and IT to continuously build, develop, and grow our product footprint
• Partner with Sales, Client Management, and Product Development to deliver an exceptional product experience for our clients
• Work closely with Treasury and Financial Resource Management teams to support and grow the business efficiently

What we value

These skills will help you succeed in this role

• Superior problem solving, analytical, and technical skills
• A proactive, opinionated mindset with a strong desire to influence product direction and decision-making
• Experience working in fast-paced, front-office financial markets environment; deeply engaged and comfortable with the markets and trading
• Outstanding communication (written and oral) and interpersonal skills; ability to interact professionally with business leaders and technical teams alike
• An extremely flexible, hands-on approach with a “do what it takes” mentality and a willingness to challenge current paradigms
• Strong team orientation with a collaborative mentality; thrives in cross-functional environments and values shared success.

Education & Preferred Qualifications

• 6+ years of securities markets/equity finance experience
• 6+ years US/Canada Delta One trading experience in the Synthetic Prime space is required
• Strong understanding and knowledge of equity market and equity swap mechanics
• Self-starter, motivated by making the entire team successful
• Proficiency in Bloomberg and Microsoft Office, specifically Excel

Additional requirements

May require travel up to 10 %

Salary Range:

$170,000 - $173,750 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.