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Associate / Director, Equity Derivatives
Canadian Imperial Bank of Commerce
New York, NY, United States
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Description
POSITION OVERVIEW
The candidate would need to have a Series 7 & 63.
KEY ACCOUNTABILITIES
• Participate in daily trading activities for US Delta One product suite with institutional clients and Sales Desk
• Develop and maintain relationships while working to optimize returns & resource usage for the trading book
• Liaise with middle and back office with respect to the execution and settlement of the transactions, proactively working to resolve any issues
• Strong understanding of creation/redemption process for ETF’s and their relationship with the derivative products
• Interact on a daily basis with other internal teams such as support, technology, documentation, finance.
• Help develop ideas and solutions to clients financing / market access needs using delta-one product suite.
• flow color and other market commentary for Sales and client use.
• Executing hedges to delta one derivative trades in the cash and futures markets
• Assist the senior trades on the desk with daily interface with Compliance, Tax, Legal, Credit and Risk to address any open items
• Release daily P&L for the desk and end of day risk reports
• Daily management together with senior traders of resource deployment for the desk
• Collaborate daily with Stock Loan trading desk for short coverage and any potential opportunities that might arise from lending ETF’s and equities
CROSS-FUNCTIONAL RELATIONSHIPS
• Partners with trading, sales and all support groups
• This job must effectively foster client relationships.
COMPLIANCE REQUIREMENTS/RESPONSIBILITIES
• As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.
JOB DIMENSIONS
• Enterprise-wide accountability
• Responsibility within US Delta 1 desk
KNOWLEDGE AND SKILLS
• Series 7 & 63 Required
• Comprehensive knowledge of financial markets, specifically Delta One functions and products.
• A strong academic background in Finance/Economics.
• 3-5 years of relevant financial industry experience in a similar position (Delta One, GC swap, Index trading )
• Basic knowledge and experience in Equity Derivative and Securities Finance products
• Ability to work as part of a team with other traders and salespeople.
• The ability to make quick decisions under pressure.
• Strong quantitative skills.
• Some programming and application skills preferred: C++, VBA, Shell scripts, Excel, Access.
• Strong analytic and problem solving skills
• Strong interpersonal skills, results oriented and a team player
• Strong written and oral communication skills
• Ability to work well in a fast-paced environment with changing priorities
• Creativity skills sufficient to resolve problems and/or identify innovative alternatives or opportunities.
• Comprehensive understanding of elements of profitability, risk and cost control.
• Knowledge of business/finance typically acquired through University business degree or equivalent combination of education and industry experience and relevant post-graduate education as specified by US-FIC.
• Unquestioned professionalism, ethics and reputation and proven ability to exercise strong independent judgment when making business decisions and/or representing CIBC World Markets.
• Strategic thinking capability with ability to identify and exploit trends and opportunities.
WORKING CONDITIONS
• This role operates within high-energy trading floor environment.