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Director, Residential Warehouse Trader

New York, New York

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New York, NY

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Date live: Jun. 27, 2024

Business Area: Barclays International

Area of Expertise: Trading

Reference Code: 90376800

Contract: Permanent

Salary / Rate USD 220000 to 300000

Barclays Overview

Barclays is a British universal bank. We are diversified by business, by different types of customers and clients, and by geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.

We are an equal opportunity employer and we are opposed to discrimination on any grounds.

It is the policy of Barclays to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, veteran status, genetic information, or any other basis protected by law.

Working Flexibly

We’re committed to providing a supportive and inclusive culture and environment for you to work in. This environment recognises and supports ways to balance your personal needs, alongside the professional needs of our business. Providing the opportunity for all our employees, globally to work flexibly empowers each of us to work in a way that suits our lives as well as enabling us to better service our customers’ and clients’ needs. Whether you have family commitments or you’re a carer, or whether you need study time or wish to pursue personal interests, our approach to working flexibly is designed to help you balance your life. If you would like some flexibility, then please discuss this with the hiring manager.

About Securitized Products

Barclays Securitized Products team delivers integrated & innovative strategies to help meet the unique capital and investment needs of our clients across the securitization spectrum including financial institutions, sponsors, state-owned institutions, insurers, asset managers, funds and corporates. Securitized Products is a client focused market making business, dealing in Asset Backed Securities (ABS), Commercial Mortgage Backed Securities (CMBS), Agency and Non Agency Residential Mortgage Backed Securities (RMBS), Commercial Mortgage Back Securities Index (CMBX) and Collateralized Loan Obligations (CLO) Secondary Trading. Securitized Products also has a significant financing footprint, with desks which is focused on providing clients with longer term financing solutions across arange of assets and jurisdictions (including loan portfolios and securitizations, bridge loans, warehouse loans and repo facilities).

About Securitized Products Financing
The Securitized Products Financing desk provides long-term lending solutions to a broad range of financial institutions(e.g. warehouse or asset financing, securities financing) on a variable/fixed term or on revolving basis across a wider range of assets including ABS, RMBS, CMBS, CLO, Consumer and whole loans.

Mortgage originators look to manage their cash flow, pipeline, and interest rate risk by sourcing a short-term revolving credit line with Barclays before the loans are eventually sold to investors, either directly or through a securitization. The desk generates revenue through commitment/origination fees, earning a spread, and applies a haircut/has access to collateral in event of default on the counterparty’s side.

Overall Purpose of Role

US Resi Financing desk is looking to hire a Director that would be acting in the capacity of a trader within the business, managing elements of structuring, pricing and execution, client engagement and post trade follow ups as appropriate.

Key Accountabilities

The core role for this hire includes managing the residential loan portfolio that the business lends against which requires assessing market value of the portfolio, setting trade level haircut and spread for each product that the business is mandated to lend against, working with the internal risk partners to monitor and formulate risk parameters, providing guidance for the business platform governance and development and maintain/enhance client relationships in close partnership with the internal resi origination/banking team.

·To oversee the development of a robust financing platform including acting as the subject matter expert across the trading desk with deal lifecycle activities related to US Residential warehouse financing from client engagement in tandem with origination teams, trade structuring, pricing & execution and post trade life cycle management

·Responsible for review and signoff on daily P&L, risk exposures, hedges and various other market driven metrics

·Work on materials related to present to capital committees and credit risk for respective transaction approvals

·Work alongside infrastructure partners from middle office, credit risk to product control in supporting activities related to trade booking and settlement issues through to stress loss simulations

·Work with technology on enhancement of internal infrastructure, architecture and automation to ensure scale and sustainability

·Work with Business Control Officer (BCO)and compliance partners to maintain a strong control environment

Stakeholder Management and Leadership

The role requires a direct communication with the internal risk partners for everything related to risk governance of the business. In addition, the role requires a close communication with senior resi origination team to manage the client relationship together. The business’s existing platinum client relationships must be maintained and the candidate will be required to maintain senior relationship and direct communication with senior stakeholders at the clients.

Decision-making and Problem Solving

·Strong analytical skills

·Influencing and adaptive skills

Risk and Control Objective

Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards

Person Specification

·Strong interpersonal skills with the ability to communicate well

·Team player with great upside potential

Essential Skills/Basic Qualifications:

·Bachelor’s Degree

·Some experience in a financial services firm or institution

·Proficient with Microsoft Office (Word, Excel, PowerPoint, Outlook)

Desirable skills/Preferred Qualifications:

·Ability to work in a dynamic, fast-paced and high pressure environment

·Good verbal and written communication skills to drive franchise business

·Knowledge of trading infrastructure and systems is a plus

Regulated Role

This role is regulated by FINRA

Purpose, Values and Mindset

We deploy finance responsibly to support people and businesses, acting with empathy and integrity, championing innovation and sustainability, for the common good and the long term.

Our values underpin everything we do: Respect, Integrity, Service, Excellence and Stewardship.

Respect

We harness the power of diversity and inclusion in our business, trust those we work with, and value everyone's contribution.

Integrity

We operate with honesty, transparency and fairness in all we do.

Service

We act with empathy and humility, putting the people and businesses we serve at the centre of what we do.

Excellence

We champion innovation, and use our energy, expertise and resources to make a positive difference.

Stewardship

We prize sustainability, and are passionate about leaving things better than we found them.

Our Mindset shapes how we take action, living by our Values, driven by our Purpose, always with our customers and clients at the heart of what we do; our Mindset is to Empower, Challenge and Drive.

Empower

Trust and support each other to deliver. Make decisions with those closest to the topic. Include diverse perspectives. Celebrate success and learn from failure.

Challenge

Question whether things can be done better. Use insights based on data to inform decisions. Be curious about how we can adapt and improve. Speak up and be open to alternative viewpoints.

Drive

Focus on outcomes. Deliver with pace. Be passionate and ambitious about what we do. Take personal responsibility. Actively build collaborative relationships to get things done.

Salary Rate / Minimum: $220,000

Salary Rate / Maximum: $300,000

The minimum and maximum salary/rate information above include only base salary or base hourly rate. It does not
include any another type of compensation or benefits that may be available.

More about working at Barclays

From New York to Nevada, our Barclays US offices are places where we’ve brought work and wellbeing together to create environments where our people can be at their very best. These are warm, welcoming and diverse communities where everyone’s contribution is recognised and celebrated.

At Barclays, we offer a hybrid working experience that blends the positives of working alongside colleagues at our onsite locations, together with working from home. We have a structured approach where colleagues work at an onsite location on fixed, ‘anchor’, days of the week, for a minimum of two days a week or more, as set by the business area (or nearest equivalent if working part-time hours). Please discuss the working pattern requirements for the role you are applying for with the hiring manager. Please note that as we continue to embed our hybrid working environment, we remain in a test and learn phase, which means that working arrangements may be subject to change on reasonable notice to ensure we meet the needs of our business.

Barclays welcomes applications from all candidates and is committed to ensuring reasonable adjustments (accommodations) are put in place to allow for a fair and inclusive recruitment process. For more information and how to request one, please review Adjustments to the recruitment process.

We’re committed to providing a supportive and inclusive culture and environment for you to work in. This environment recognises and supports ways to balance your personal needs, alongside the professional needs of our business.

Providing the opportunity for all our employees, globally to work flexibly empowers each of us to work in a way that suits our lives as well as enabling us to better service our customers’ and clients’ needs. Whether you have family commitments or you’re a Carer, or whether you need study time or wish to pursue personal interests, our approach to working flexibly is designed to help you balance your life. If you would like some flexibility then please discuss this with the hiring manager.

We're committed to providing a supportive and simplified experience for our candidates throughout the application and assessment process. Here, you will find information about what to expect and some guidance around your assessment and interview.

While the application process depends on the role, there are some constant steps, which are;

Step 1 - Your application
Step 2 - Your assessment
Step 3 - Your interview
Step 4 - Next steps

We aim to create an inclusive work environment where everyone can reach their full potential. If you require any adjustments to our recruitment process, please click here to learn more.

Find out more information here.

Barclays offers a diverse, inclusive and engaged culture. A place where people can bring their whole selves to work and be respected for who they are, valued for what they do and celebrated for their contribution to our business and our community.
We are an equal opportunity employer and opposed to discrimination on any grounds. It is the policy of Barclays to ensure equal employment opportunity without discrimination or harassment on the basis of race, colour, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, veteran status, genetic information, or any other basis protected by law.

The Barclays Way

This is the spirit of Barclays. It’s why we exist, what we believe and how we behave. But most importantly, it’s how we make decisions, take action and get things done.

Learn more

Purpose

Working together for a better financial future.

Values

We believe great talent RISES. It acts with Respect, Integrity, Service, Excellence and Stewardship.

Mindset

We discover our full potential through our desire to Empower, Challenge and Drive each other.

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