Trader II (Sun - Thu 2:00pm-11:00pm PST)
Remote
Job Description
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The Trader is responsible for pricing, execution, confirmation, and market risk management in support of Silvergate’s Trading activities.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
General:
Execute FX trades with Silvergate’s clients and liquidity providers during the US and Asian banking hours and ensure the completeness and accuracy of the trade blotter.
Take responsibility for both automated and manual pricing of FX trades originating from Online Banking, API, Chat, and Voice channels.
Analyze profit/loss reports of trading activity.
Proactively manage counterparty risk against credit limits and partner with Risk on ongoing maintenance and revision for both new and existing clients.
Assist in ensuring the FX business requirements are up to date and are supported by internal stakeholders.
Escalate any issues to management and work with Enterprise Risk to maintain a log of incidents that arise on the Trading Desk.
Support the documentation of business workflows and procedures for the Trading Desk, from both an operational and technical perspective.
Assist in the design and preparation of trading activity reporting to Risk, Management, Audit, and to external parties as may be applicable (e.g. regulators).
Work cross-functionally with internal teams in the initiation of new Trading product offerings
Maintain knowledge of the current market and industry developments as they relate to Silvergate and its clients.
Collaborate cross-functionally with Operations, Treasury, Risk, Finance, Compliance, Sales, and Business Development in daily duties.
Perform other duties and responsibilities as needed.
Maintain current knowledge of all U.S. federal and state laws and regulations, along with the Bank’s policies and procedures.
Must adhere to the company’s core values of Challenge Convention, Do What’s Right, Take Ownership, Empower People, Exceed Expectations, and Cultivate Awesome all while keeping our “Why?” front of mind. Our Why? Silvergate is the banking platform for innovators, and we believe in the power of entrepreneurs to create prosperity for our communities.
Not to harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice.
Decision Making:
Supervision is generally provided to establish and review broad objectives relative to basic job duties.
Independent judgment is required to study previously established, often partially relevant, guidelines, plan various interrelated activities and coordinate such activities while completing a project.
Problem-solving involves the identification and analysis of diverse problems, answers are usually found by reviewing complex regulatory reference materials, Bank procedures and applying them to Bank practices. Guidance is usually provided on specific sources to review and solutions/recommendations are reviewed prior to report finalization.
Job Dimensions:
Responsibility for meeting deadlines and completing projects within established timeframes.
Job Requirements
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Qualifications:
Bachelor’s degree (B.A.), or equivalent, from a four-year college or university.
Minimum 3 years experience in FX at a Bank, Financial Services company, or Corporation, with an evidential understanding of the FX markets and the tools and systems that support that market.
Experience with banking Risk Management policies and procedures.
Familiarity with industry-standard FX trading and execution systems.
Familiarity with a bank’s FX Operations and Payments activities and processes.
Ability to generate respect and trust, both internally and with bank customers.
Responsibility for meeting deadlines and completing projects within established timeframes.
Ability to think and react quickly (as needed) to market fluctuations with respect to positions.
Good understanding of Microsoft applications and online communication systems (such as Slack, Microsoft Teams, and Bloomberg).
Strong personal organizational skills.
Excellent communication skills.
Strong math skills.
Knowledge of payment systems infrastructures such as Fedwire Funds and SWIFT network preferred.
BANK SECRECY ACT REQUIREMENTS:
Responsible for adhering to the reporting and recordkeeping requirements of the Bank Secrecy Act and Anti-Money Laundering rules and regulations, observing economic sanctions by prohibiting transactions as specified by the Office of Foreign Asset Control (OFAC), following the Company’s customer identification program (CIP) rules, observing all Company policies and procedures relating to BSA, OFAC, CIP, and related acts, and participation in ongoing related training.
PHYSICAL DEMANDS:
While performing the duties of this job, the employee is:
Regularly required to talk or hear.
Required to communicate with customers and coworkers verbally and in writing.
Occasionally required to stand; walk.
Required to sit for long periods and reach with hands and arms.
Able to read documents, computer screens, reports, and other communications and have the ability to adjust focus and close vision.
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