Evaluates, recommends, and implements trades. Supports portfolio managers for trading decisions by reviewing offerings, assisting in relative value analysis, flawless execution and minimizing transactions costs.
The International Rates team is part of Vanguard's Global Rates Active Fixed Income franchise. The team is responsible for the management of global aggregate, governments, and FX strategies. Based in London, the desk invests in global opportunities across fixed income, derivatives, and currencies.
As the team continues to expand, we are looking for a driven individual with keen interest in global markets and current geopolitical developments. The role would suit someone with significant experience in day-to-day management of fixed income portfolios and trading experience in sovereigns, SSAs, and derivatives.
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The Fixed Income Trader evaluates, recommends, and implements trades. Supports portfolio managers for trading decisions by reviewing offerings, assisting in relative value analysis, flawless execution and minimizing transactions costs.
Core Responsibilities
- Negotiates and executes fixed income securities trades for the assigned portfolios and sectors. Independently makes tactical trade decisions. Identifies, defines, analyzes and resolves issues related to improving the investment process and enhancing investment returns. Works closely with investment analysts for recommendations in trade implementation. Assists and backs up other portfolio managers as needed.
- Handles negotiated trades and high-risk situations. Viewed as price setter for trading.
- Maintains portfolio compliance with overall investment guidelines and policies. Identifies and corrects deviations in partnership with the portfolio manager.
- Develops, evaluates, and acquires models for analyzing investment strategies. Generates complex performance attribution reports, identifies and resolves issues to produce accurate analyses.
- Develops and maintains strategic relationships with security dealers, and leverages relationships to improve the operational efficiency and trading execution. Acts as an analyst peer and is recognized as a sector expert providing actionable trade ideas.
- Participates in special projects and performs other duties as assigned.
Qualifications
- Eight years related work experience, including five years investment management experience. Five years Fixed Income experience preferred.
- Undergraduate degree in finance or economics or equivalent combination of training and experience required. Graduate degree preferred.
- Python/ VBA programming skills preferred.
- CFA preferred.
Special Factors
- European Designations: Certified, MIFID and T&C.
- Vanguard is not offering sponsorship for this position
Please provide answers to the following questions in your application:
- What do you find fascinating about markets today?
- Which trades do you currently favour and why?
- Please highlight how your experience matches the job criteria.
About Vanguard
At Vanguard, our core purpose is to take a stand for all investors, to treat them fairly, and to give them the best chance for investment success. Every decision we make to best serve our clients, crew, and communities is guided by one simple statement: "Do the right thing." We believe that a critical aspect of doing the right thing requires building diverse, inclusive, and highly effective teams of individuals who are as unique as the clients they serve. We empower our crew (that's what we call our staff) to contribute their distinct strengths to achieving Vanguard's core purpose through our values.
Inclusion Statement
Vanguard's continued commitment to diversity and inclusion is firmly rooted in our culture. Every decision we make to best serve our clients, crew (internally employees are referred to as crew), and communities is guided by one simple statement: "Do the right thing."
We believe that a critical aspect of doing the right thing requires building diverse, inclusive, and highly effective teams of individuals who are as unique as the clients they serve. We empower our crew to contribute their distinct strengths to achieving Vanguard's core purpose through our values.
When all crew members feel valued and included, our ability to collaborate and innovate is amplified, and we are united in delivering on Vanguard's core purpose: to take a stand for all investors, to treat them fairly, and to give them the best chance for investment success.
How We Work
Vanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.