Global Credit Trade Management Associate # 130410

Job description

The Global Credit Products department creates and sells products across the Fixed Income spectrum. The available opportunity is designed to work with the US Credit Repo desk to minimize fails cost across all Credit Products by identifying and validating borrow needs and improving processes on box management, cross regional flows and 144A/REGS conversions. This role should lead to PnL opportunities for the US Credit Repo desk as traders spend less time on reconciling positions and administrative issues and more time optimizing profitability. Also, this role should centralize much of the fails management performed by the individual cash traders and COOs across GCP. The newly created opportunity will not only benefit GCP as a department, but also alleviate pressure on downstream teams including Settlements who are already consumed with high trade volumes from the repo space (20,000 trades per month on average) and substantial daily email requests.

Role Description:

· Design processes to identify borrow needs by settlement location and date to be streamlined with the repo desk's current process
· Centralize all flows of information from Front Office, Prime Services and Back Office to validate requests, rectify bookings if needed, or realign positions where possible. Rather than receive information from various business lines directly, the new role can create a centralized approach streamlining the feed of information creating process efficiencies
· Objective is to ensure all deliveries on Corporate/EM Bonds settle on a timely basis by either facilitating bookings and flows or working with repo desk to borrow bonds when economically feasible. In addition to BAU short sale coverage, reasons to borrow bonds may include:
· Fails to receive
· Timing gaps due to booking errors or counterparty errors
· Delay in re-alignments
· Delay in 144a/REGs conversions
· Client deficits or pilfering
· Repo Desk is developing a framework with Product Control to journal FTR Credits to the US Credit Repo desk to offset borrowing costs. This should be PnL accretive to GCP
· Oversee REGS/144A Conversions process to improve flows and identify settlement flaws
· Oversee all external fails claims. Ensure we are claiming FTD due to counterparty errors. Validate all FTR claims. Track daily accruals and provisions
· Ad hoc requests by the business as needed and this can be developed over time as the role evolves
· Additional responsibilities to be determined once the role is formalized allowing for heightened exposure to the business

Credit Suisse maintains a Working Flexibility Policy, subject to the terms as set forth in the Credit Suisse United States Employment Handbook.

Desired profile

Qualifications :

·  Undergraduate degree in Business, Economics, Finance or Accounting is an advantage
·  1-2 years of experience in a similar role within Financial Services
·  Middle Office experience and or series 7 & 63 a plus but not necessary
·  Knowledge of Fixed Income a plus
·  Good to Advanced Excel skills
·  Customer Service attitude within regulatory and control limitations
·  Great Time Management skills
·  Ability to work independently
·  Ability to recognize and prioritize
·  Good communication skills with all levels of the organization
·  Ability and Confidence to recognize and advance efficiency opportunities