Municipal Fixed Income Trader

Location
San Francisco, California
Salary
Salary, incentive and benefits
Posted
Mar 31, 2021
Closes
Apr 30, 2021
Ref
5570264
Industry Sector
Asset Management
Employment Type
Full Time
Education
Bachelors

At Wells Fargo, we have one goal: to satisfy our customers’ financial needs and help them achieve their dreams. We’re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you’ll feel valued and inspired to contribute your unique skills and experience.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Wealth & Investment Management, or WIM, is one of the United States’ leading providers of financial and investment services. WIM provides a full range of personalized wealth management, investment, and retirement products and services to meet clients’ unique needs and help them achieve financial goals. Our mission is to help clients pursue their financial goals with confidence. We accomplish this by:

 

 

  • Building enduring client relationships through sound, thoughtful, and objective advice
  • Developing individualized plans for clients to help meet their financial objectives
  • Helping clients build, manage, preserve, and transition their financial resources and wealth
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    WIM serves clients through the following businesses:

     

     

     

  • Wells Fargo Private Bank serves high-net-worth individuals and families.
  • Abbot Downing serves ultra-high-net-worth individuals and families.
  • Wells Fargo Advisors provides investment advice and guidance to clients through more than 13,200 full-service financial advisors and referrals from more than 5,450 licensed bankers.
  • Wells Fargo Asset Management brings together a strategic balance of investment capabilities to serve the investment needs of institutions, financial advisors, and individuals worldwide.
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    Through Wells Fargo Private Bank and Abbot Downing, WIM is also a leading provider of trust, investment, and fiduciary services, including personal trust services and a number of specialized wealth services designed to meet the diverse needs of high-net-worth clients.

    At Wells Fargo Asset Management, we put the client at the center of everything we do. Our commitment: Help clients achieve what matters most to them on their path to financial well-being. We do this by channeling the collective wisdom of our specialized investment teams (backed by over 500 investment professionals) into solutions designed to help meet clients’ goals.

    We place a relentless focus on pursuing consistent and positive risk-adjusted returns, with the support of our independent risk management teams. Together, we strive to help our clients build portfolios aimed at generating successful outcomes and defending them against uncertainty.

    With more than $603 billion in assets under management and offices around the world, Wells Fargo Asset Management has the resources and reach to help clients across the globe—be it institutions or intermediaries whose focus on the client is akin to our own.

    *Wells Fargo recently announced the sale of Wells Fargo Asset Management to GTCR LLC and Reverence Capital Partners, L.P.  The sale is expected to close in the second half of 2021.  We are continuing to recruit for open positions supporting Asset Management, but want to ensure you are aware that when the sale closes this position will be transferred to the new company.  If you begin working at Wells Fargo, you should expect to transfer with the sale to the new company, with similar employment terms and conditions following your Wells Fargo start date.

    Wells Fargo Asset Management (WFAM) is seeking a Municipal Fixed Income Trader to join the successful and growing Municipal Fixed Income Team.  This position will be part of a team of municipal bond portfolio managers, credit analysts, and traders overseeing $39 billion in assets under management.  The role will involve working with portfolio managers and credit analysts to implement and trade investment recommendations. Primary trading responsibilities will be focused on executing trades for municipal bond separately managed account (SMA) strategies powered by Remi, WFAM’s SMA platform. Additional responsibilities also include contributions to the Municipal Fixed Income team’s broad array of municipal bond strategies including mutual funds and institutional separate accounts.

    Specific duties include but are not limited to:

    • Trading and analysis of municipal fixed income securities with primary focus on SMA strategies
    • Executing trades and contributing to the formulation of product trading strategies
    • Under the direction of management, providing relative value trade ideas, making alpha generating relative value decisions, and developing and maintaining relationships with the dealer counterparties
    • Working alongside portfolio managers in communicating and executing investment strategies
    • Providing timely and efficient fixed trade execution on behalf of portfolio managers
    • Working directly with settlements, operations, and compliance to ensure proper order flow post execution, monitor risk parameters set by clients, and improve overall communication
    • Generating reports and tracking various trading and portfolio related information on a daily basis
    • Demonstrating sound decision making and strategic thinking which reflects an understanding of our businesses and their priorities
    • Filtering and directing important market and trading related information coming into the Trading Desk from various sources
    • Managing multiple tasks at one time, while remaining focused in fast paced environment

    Required Qualifications

    • 3+ years of trading experience

    Desired Qualifications

    • Derivatives, convertible bonds, and credit markets experience
    • Extensive knowledge and understanding of derivative markets across equity, fixed income, and currencies
    • Extensive knowledge and understanding of credit evaluation and pricing
    • Basic knowledge and understanding of basic system development and the infrastructure design around trade execution and risk management systems for portfolios
    • A BS/BA degree or higher

    Other Desired Qualifications

    • Significant knowledge and understanding of basic system development and the infrastructure design around trade execution and risk management systems for portfolios
    • Extensive knowledge and understanding of credit evaluation and pricing, particularly related to municipal bonds
    • Extensive knowledge and understanding of derivative markets across equity, fixed income, and currencies

    All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.

    Relevant military experience is considered for veterans and transitioning service men and women.

    Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation