Job Title: Mortgage Back Securities (MBS) Operations and Allocations Lead
Corporate Title: Vice President
Location: New York, NY
The MBS Allocation team will be supporting the Firm's propriety MBS Pass-Through business which includes: TBAs allocation, EPN processing, Position Management, MBSD FICC-RTTM, Fails Management, TBA (To Be Announced) and Pool Netting, Daily Reporting, TBA Pair off, Trade Assignment processing, and Trade Support services for the desks. The Allocator team is required to manage risk, avoid fails, and sift for valuable bonds to maximize profits, "If the rules of allocation are properly and carefully administered, P&L can be realized over and above the original TBA trade P&L". The Allocator role includes ad-hoc trading desk requests, allocation deadlines, and position management between the trade flow systems. The ability to multi-task and prioritize in a fast paced, highly stressful environment is a must. The Allocators are expected to navigate and utilize various tools to address customer inquiries, as well as having a good understanding of SIFMA industry guidelines pertaining to MBS allocations and settlements.
What We Offer You:
We offer competitive health and wellness benefits, empowering you to value life in and out of the office
Retirement savings plans, parental leave, and other family-friendly programs
An environment that encourages networking and collaboration across functions and businesses
Active engagement with the local community through Deutsche Bank's specialized employee groups
Return to Office:
At this time, all individuals present in the location must be fully vaccinated for Covid-19
It is the Bank's expectation that employees hired into this role will work in the New York office in accordance with the Bank's hybrid working model
Deutsche Bank provides reasonable accommodations to candidates and employees with a substantiated need based on disability and/or religion
Hear from our people and look inside our office: DB@The Muse
Your Key Responsibilities:
Manage and allocating TBA product and coupon trade flow and pool inventory on 48-hour days; processing TBA and MBS Pool Netting transactions
Sort for valuable bonds to maximize Trading Desk profits and reconcile positions with the RMBS Trading Desk
Ensuring that all trades are booked and confirmed as intended by checking the Trading system verses internal systems, liaising with Trading, Sales, Brokers, or the Counterparty directly; investigate and resolve trade exceptions
Manage fails by communicating with the street for prompt settlement
Supporting tasks relating to departmental daily, weekly, and monthly MIS reporting; participating, supporting, and testing relating to new business initiatives, as well as ongoing internal and industry business testing
Partnering closely with the Trading and Sales to provide the first level of control (1LOD) and escalation
Your Skills and Experience:
Job knowledge of the Firm's markets, products, business, and regulations; good understanding of trade processing and settlement procedures; MBS Allocation/trade support experience, clearance experience, and Fixed Income Clearing Corp (FICC) knowledge for MBS products
Excellent communication skills and interacts well with others appropriately
Experience in mortgage-backed securities
Solid understanding of SIFMA's TBA Market Governance and Uniform Practices Manual
Advanced Excel Skills (macros, pivot tables, VLOOKUP's, etc.)
How You'll Lead:
Ability to handle stressful situations and strict time deadlines
Excellent organizational skills
Performance-driven, proactive, with proven ability to take on challenges, set, and execute agenda
Our values define the working environment we strive to create - diverse, supportive and welcoming of different views. We embrace a culture reflecting a variety of perspectives, insights and backgrounds to drive innovation. We build talented and diverse teams to drive business results and encourage our people to develop to their full potential. Talk to us about flexible work arrangements and other initiatives we offer.
We promote good working relationships and encourage high standards of conduct and work performance. We welcome applications from talented people from all cultures, countries, races, genders, sexual orientations, disabilities, beliefs and generations and are committed to providing a working environment free from harassment, discrimination and retaliation.
Click here to find out more about our diversity and inclusion policy and initiatives.
We are an Equal Opportunity Employer - Veterans/Disabled and other protected categories. Click these links to view the following notices: EEO is the Law poster and supplement; Employee Rights and Responsibilities under the Family and Medical Leave Act; Employee Polygraph Protection Act and Pay Transparency Nondiscrimination Provision.