Debt Syndicate Operations, Analyst/Associate - SMBC
New York, NY 10172
About the Job
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.
In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.
The anticipated salary range for this role is between $78,000.00 and $125,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
Role Description
This role will provide operational support for the debt syndicate desk in execution of primary market offerings of fixed income securities as well supporting settlement, trade support, and internal as well as regulatory reporting. The position requires an in-depth understanding of the new issue execution process, and will require extensive liaising with the front desks internally and externally, as well as the Accounting, Risk Management and IT teams.
Role Objectives
- Responsibilities include but are not limited to following functions: Creating new offerings in various front office systems, support during orderbook building process in the form of identifying duplicate orders among other tasks, facilitating hedges, booking/matching trade tickets, booking P&L, reporting to various parties including compliance, risk, legal, etc, resolve trade discrepancies as well as settlement issues, liaise with various groups internally and externally on final deal settlement.
- Support execution via setup of new issues in orderbook building system, monitioring and tying out orderbook with other broker-dealers throughout bookbuilding process
- Manage/facilitate hedging process associated with new corporate deal execution
- Book corporate trades and related hedges, resolve trade mismatches/disputes in coordination with middle office, sales and other bookrunners
- Responsible for final settlement process, including aggregating a summary of fees/expenses across underwriters and preparation of settlement letters
- Monitor P&L, desk position and manage distribution of fee and sales credit splits across various regions
- Obtain New Issue cusips as well as applying for DTC approval via DTCC system and performing closing calls
- Work with Operations, Middle and Back Office to ensure coordination across settlement and compliance with all FINRA and REG M regulatory filing requirements associated with Debt New Issues
- Primary contact person on new issues for all various departments within the firm, including liaise between IT and eternal vendors on system issues, testing and upgrades
Qualifications and Skills
- Deep Product/Process knowledge of fixed income new issue execution middle office operations. Strong understanding of the transaction lifecycle
- Strong analytical skills, the ability to pick complex issues, articulate the problem set and present recommendations are critical. Excellent problem solving skills in order to identify, understand and address operational and technical issues
- Cross functional reach – liaise across functions (Front Office, Operations as well as IT) , the ability to navigate through vertical and horizontal layers of the organization is essential
- Strong knowledge of related trading/middle back systems
- Ability to quickly grasp new industry practices and create/document new processes. Identifies opportunities to increase efficiency
- Highly detail orientated, multi-task and strong sense of control
- Minimum 1-3 years of specialized experience in Financial Services
- BA / BS (or equivalent experience); Finance or Technology related degreee preferred
- (Required) MS Office, Bloomberg, CTM/Omegeo/Oasys
- (Preferred) Fidessa, VBA, Broadridge(GLOSS/IMPACT)
Additional Requirements
SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.
We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.
