Junior Fixed Income Dealer

Employer
M&G plc.
Location
Singapore, Singapore
Salary
Competitive
Posted
01 Oct 2022
Closes
31 Oct 2022
Ref
16673271
Job Function
Other
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
What you can expect from us:

We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:
  • Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work
  • Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed
  • Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognise the important contribution you make
  • Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best

The Role:

The successful candidate will be responsible for achieving best & timely execution for fixed income securities / products both in USD and Asian local currencies for the M&G funds as part of the Asian Fixed Income Dealing team. The candidate will ensure that all trades are executed in a timely and orderly manner, that best execution is achieved, and that allocations are fair, that dealing errors and breaches are minimised. The candidate will be maintaining relationships with internal and external stakeholders including Counterparties and ensuring that Counterparty risk limits are not breached. Being part of the Asian Fixed Income Dealing team, the candidate will be measured by the dealing performance which is born out in overall fund performance. The candidate will ensure that the Desk controls, internal guidelines and MAS regulations are adhered to.

Key Work Level Accountabilities: Experienced Colleague:
  • Accountable for providing a quality service or product to customers and stakeholders, using skills/experience built through significant practical experience or training
  • For team leaders, accountable for ensuring the team the role supports is delivering a quality service or product
  • Works within established frameworks and procedures, with the freedom to interpret them to solve a range of problems
  • Delivers outputs that are clearly defined, using discretion over how to achieve them
  • Makes suggestions for improvements to the work of the team, based on previous experience and knowledge of similar situations

Key Responsibilities for this role:

Dealing Responsibilities:
  • Ensuring that all trades are executed in a timely and orderly manner, that best execution is achieved, and that allocations are fair.
  • Understanding of local TCA activities utilizing BTCA & BestX reporting.
  • Maintaining relationships with internal and external stakeholders including Counterparties and ensuring that Counterparty risk limits are not breached.
  • Ensuring that all trades are entered correctly into the trading system or paper tickets, all errors are reported and trade data around best execution is recorded.
  • Ensuring the escalation of all operational concerns to senior management (incl., but not exclusively relating to: Conflicts, TCF, suspicious trading activities etc.
  • Ensuring internal guidelines and MAS regulations are adhered to.
  • Ensuring that actions are in accordance with M&G's Business Principles and with the Regulators principles on good conduct and market integrity.
  • Ensure that our customers are treated fairly.
  • Ensure dealing errors and breaches are minimised.
  • Ensure key risks and operational concerns are escalated to the management team.
  • Assist Head of FI Dealing with trade enquiries and help prioritise dealing desk responses.
  • Undertake periodic / ad hoc tasks as and when required (e.g. Review of execution rates with the dealers annually, complete any counterparty breach forms, confirmation of novation process, and external stakeholder management / dealing relationships)
  • Ensure controls in respect of COB's monitoring are carried out as required with a good understanding of relevant Risk Control and Management across the Front Office teams.
  • Close liaison with Stakeholders and Risk, particularly around ongoing analysis and MI provision.
  • Work with management to improve processes, customer outcomes, ensuring risks are understood and controls are appropriately applied.
  • Liaise, support TCA reporting and represent the Fixed Income / Equity teams with other departments, including Information Systems, Data Management and Investment Operations.

General Responsibilities:
  • Having a good understanding of the key measurements and key risk and controls of the Dealing function.
  • Provide input into the TERF meetings and contribute to the Hit Ratio% analysis etc.
  • Regular reporting such as Quote Exceptions and Timely Execution Exceptions.
  • Having a good understanding and adhere to the Desk controls.
  • Provide inputs to regular report & statistics production for the Trade Execution Review Forums and Dealing Management Committee.
  • Work with management to improve processes, customer outcomes, ensuring risks are understood and controls are appropriately applied.
  • Support the Head of Dealing with ongoing implementation monitoring via Monthly, Quarterly TERF's and interactions / usage also of our Independent TCA vendors analysis, (including peer groups).
  • Support for monthly summary MI, TERF and related submissions to the Dealing Management Committee, while supporting periodic thematic Compliance reviews or Audit / AAF / ICF / OMF requests.
  • Generation of Hit Ratio%'s / Counterparty Review Reporting both for quarterly / bi-annual counterparty meetings.
  • Work with the Fixed Income Dealing teams and business risk partners to improve TCA / TERF data.
  • Support / lead local broker onboarding activities.

Key Knowledge, Skills & Experience:

The successful candidate should be a self-starter who has the ability to use their own initiative and work with individuals across different teams in the organisation.

Required:
  • Demonstrable track record and experience on Fixed Income dealing
  • Fulfil regulatory requirements
  • Good communication skills, both written and verbal, and able to liaise effectively with personnel at all levels.
  • A understanding of Fixed Income investment products and the asset management industry.
  • High level of accuracy and attention to detail.
  • Bright, enthusiastic and proactive. Due to the nature of the role, a self-starter is essential.
  • P.C. literate and able to work effectively under pressure and to tight deadlines.
  • Demonstrable experience on developing and maintaining relationships with key internal and external contacts.
  • Good team player with flexibility and ability to prioritise and organise multiple concurrent activities.

Desired:
  • Understanding of risk and control within the asset management industry.
  • Experience of maintaining procedural documentation.
  • Knowledge of asset classes (Fixed Income, Equities, FX and Derivatives)
  • Professional qualifications, such as IMC or CFA etc
  • Previous knowledge / use of Aladdin.
  • Experience of managing complicated processes with a focus on risk reduction, standardisation and automation.

We live by four behaviours at M&G and we ask all our employees to:
  • Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed
  • Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
  • Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
  • Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things

At M&G Diversity and Inclusion is a strategic objective. We know that an inclusive environment makes us more accessible and ensures we attract, engage, promote and retain exceptional people. We welcome applications from all individuals regardless of age, gender/gender identity, sexual orientation, ethnicity/nationally or disability.

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