GMD Non-Flow Credit Repo Trader, Associate
Crédit Agricole SA, New York, NY, United States
Job Summary
The Global Repo and Indexing business line, within the Global Markets Division, is looking for a junior level candidate to join its Credit Repo and Secured Lending team in New York. The role would involve assisting senior traders with daily tasks such as P&L calculations and risk monitoring, pricing and execution of structured transactions, and risk analysis of transactions and collateral obligations. The ideal candidate would have a post‑graduate degree in an analytical field. Experience as a corporate credit analyst at a rating agency or equivalent is a strong plus. Understanding of securitization structures, techniques and documentation is helpful. Strong problem‑solving and critical thinking skills are a pre‑requisite. A native or fluent level of English is expected to be spoken.
Key Responsibilities
Transactions
Analyze, understand and price transaction risk and use of scarce resources to optimize risk/return
Execute transactions in accordance with established risk management procedures and risk parameters
Identify market opportunities and formulate trading strategy to optimize risk/return
Input all executed trades directly into the Front Office Systems in a timely manner
Monitor and manage position risk
Partner with Structuring and Sales in providing client solutions
Partner with and inform risk functions including obtaining risk approvals as necessary
Keep abreast of the markets and risk by staying informed of economic, regulatory and technological changes
Management and Reporting
Report Daily pnl, risk and key market movements to management and partners as required
Escalate issues requiring management attention
Mandate
Ensure strict compliance with the mandate attributed to the desk
Sign the mandate in the MRL tool according to the procedure currently in place with the Bank
Ensure that processes are in place for appropriate identification, escalation, review and response to any actual or potential violation of the regulations
Risk
Establish relationships with key risk functions
Contribute to the evolution of overall risk parameters and processes
Assist with managing and hedging the overall risk of the Repo & Secured Funding portfolio on an intra and inter day basis
Ensure adherence with regard to position and risk limits
Ensure adherence to the overall risk limits, including both credit and market risk, as set for Repo & Secured Funding
Ensure adequate systems and information flow to allow monitoring and management of these risks
Counterparties and clients
Develop and maintain relationships with peers in other organisations as applicable.
Represent the firm with external organizations (e.g., industry or product committees, and regulatory or governing bodies) if requested.
Notify Trading management and Back Office immediately of any and all trading disputes with counterparties.
Ensure adherence to KYC procedures and policies.
Communication
Contribute to discussions with the other members of Repo & Secured Funding Trading teams as requested and as appropriate to review market strategy and exchange ideas and any other pertinent information.
Attend regular meetings or conference calls with the other members of Repo & Secured Funding Trading group as requested and as appropriate to review market strategy and exchange ideas and any other pertinent information.
Legal and Regulatory Responsibilities
Comply with all applicable legal, regulatory and internal Compliance requirements, including, but not limited to, the London Compliance manual and the Financial Crime Policy. Complete any mandatory training in line with legal, regulatory and internal Compliance requirements.
Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training as required to attain and maintain competence.
Refrain from taking any steps which could lead to the removal of certification of fitness and propriety to perform the role.
Undertake all necessary steps to satisfy the annual certification process.
Comply with all applicable conduct rules as prescribed by the relevant regulator.
Required Skills
Team oriented.
Excellent communication skills and able to coordinate effectively with other Senior Managers, Sales, Structurers and Quants.
Ability to think quickly, make decisions using good judgement and prioritise in busy trading situations.
Ability to remain calm under pressure.
Technical Skills Required
IT literate.
Credit analysis skills.
Strong numerical, analytical and spreadsheet skills.
Systems Used Internal: Outlook, Office, Intranet; Apex, Orchestrade.
External: Bloomberg; Reuters.
Location New York, United States of America.
Education
Bachelor's degree, preferably in an analytical area, followed by appropriate market relevant working experience.
Experience in trading and risk managing a trading book, where applicable.
Experience as a credit analyst.
Experience 3-5 years.
Key Internal Contacts
GRI team
Chief Operating Officer (Global Business Manager) team
Sales
Counterparty Risk
Market Activity Monitoring (MAM)
Back office/Middle office (trade processing and settlements)
Control
Ensure any warning signals of emerging issues in the business are followed up; ensure appropriate investigation and any appropriate remedial action.
Address, in the suggested timeframe, any points or recommendations made by internal or external auditors or regulators.
General Information About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB). Crédit Agricole CIB is the corporate and investment bank of the Crédit Agricole group, the 10th largest banking group in the world. We support major companies and financial institutions in their development and the financing of their projects. As pioneers in responsible finance, social and environmental commitments are at the heart of our activities. Joining our teams means working in a multicultural environment, both dynamic and stimulating, where you will contribute to developing a sustainable economy. We support employees throughout their journey: you will develop your skills and access various mobility opportunities among the diversity of our businesses in more than 30 international locations. Our culture is built on collaboration, innovation and openness, where everyone is valued and empowered. By working every day in the interest of society, Crédit Agricole CIB aligns with the Group values committed to diversity and inclusion and placing people at the heart of all its transformations. All our jobs are open to people with disabilities. We welcome applications from candidates of all backgrounds and experiences.
Salary Range $130k-$160k
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Key Responsibilities
Transactions
Analyze, understand and price transaction risk and use of scarce resources to optimize risk/return
Execute transactions in accordance with established risk management procedures and risk parameters
Identify market opportunities and formulate trading strategy to optimize risk/return
Input all executed trades directly into the Front Office Systems in a timely manner
Monitor and manage position risk
Partner with Structuring and Sales in providing client solutions
Partner with and inform risk functions including obtaining risk approvals as necessary
Keep abreast of the markets and risk by staying informed of economic, regulatory and technological changes
Management and Reporting
Report Daily pnl, risk and key market movements to management and partners as required
Escalate issues requiring management attention
Mandate
Ensure strict compliance with the mandate attributed to the desk
Sign the mandate in the MRL tool according to the procedure currently in place with the Bank
Ensure that processes are in place for appropriate identification, escalation, review and response to any actual or potential violation of the regulations
Risk
Establish relationships with key risk functions
Contribute to the evolution of overall risk parameters and processes
Assist with managing and hedging the overall risk of the Repo & Secured Funding portfolio on an intra and inter day basis
Ensure adherence with regard to position and risk limits
Ensure adherence to the overall risk limits, including both credit and market risk, as set for Repo & Secured Funding
Ensure adequate systems and information flow to allow monitoring and management of these risks
Counterparties and clients
Develop and maintain relationships with peers in other organisations as applicable.
Represent the firm with external organizations (e.g., industry or product committees, and regulatory or governing bodies) if requested.
Notify Trading management and Back Office immediately of any and all trading disputes with counterparties.
Ensure adherence to KYC procedures and policies.
Communication
Contribute to discussions with the other members of Repo & Secured Funding Trading teams as requested and as appropriate to review market strategy and exchange ideas and any other pertinent information.
Attend regular meetings or conference calls with the other members of Repo & Secured Funding Trading group as requested and as appropriate to review market strategy and exchange ideas and any other pertinent information.
Legal and Regulatory Responsibilities
Comply with all applicable legal, regulatory and internal Compliance requirements, including, but not limited to, the London Compliance manual and the Financial Crime Policy. Complete any mandatory training in line with legal, regulatory and internal Compliance requirements.
Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training as required to attain and maintain competence.
Refrain from taking any steps which could lead to the removal of certification of fitness and propriety to perform the role.
Undertake all necessary steps to satisfy the annual certification process.
Comply with all applicable conduct rules as prescribed by the relevant regulator.
Required Skills
Team oriented.
Excellent communication skills and able to coordinate effectively with other Senior Managers, Sales, Structurers and Quants.
Ability to think quickly, make decisions using good judgement and prioritise in busy trading situations.
Ability to remain calm under pressure.
Technical Skills Required
IT literate.
Credit analysis skills.
Strong numerical, analytical and spreadsheet skills.
Systems Used Internal: Outlook, Office, Intranet; Apex, Orchestrade.
External: Bloomberg; Reuters.
Location New York, United States of America.
Education
Bachelor's degree, preferably in an analytical area, followed by appropriate market relevant working experience.
Experience in trading and risk managing a trading book, where applicable.
Experience as a credit analyst.
Experience 3-5 years.
Key Internal Contacts
GRI team
Chief Operating Officer (Global Business Manager) team
Sales
Counterparty Risk
Market Activity Monitoring (MAM)
Back office/Middle office (trade processing and settlements)
Control
Ensure any warning signals of emerging issues in the business are followed up; ensure appropriate investigation and any appropriate remedial action.
Address, in the suggested timeframe, any points or recommendations made by internal or external auditors or regulators.
General Information About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB). Crédit Agricole CIB is the corporate and investment bank of the Crédit Agricole group, the 10th largest banking group in the world. We support major companies and financial institutions in their development and the financing of their projects. As pioneers in responsible finance, social and environmental commitments are at the heart of our activities. Joining our teams means working in a multicultural environment, both dynamic and stimulating, where you will contribute to developing a sustainable economy. We support employees throughout their journey: you will develop your skills and access various mobility opportunities among the diversity of our businesses in more than 30 international locations. Our culture is built on collaboration, innovation and openness, where everyone is valued and empowered. By working every day in the interest of society, Crédit Agricole CIB aligns with the Group values committed to diversity and inclusion and placing people at the heart of all its transformations. All our jobs are open to people with disabilities. We welcome applications from candidates of all backgrounds and experiences.
Salary Range $130k-$160k
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