Synthetic Equity Analyst - Trading Business

Job Title: ETF

Business Overview:

The Synthetic Equity desk provides equity solutions to clients, delivering pure alpha, efficient beta and global market access in tailored wrappers (portfolio swaps, index swaps, ETFs and certificates). The products offer leveraged off-balance sheet trading capability and provide clients synthetic exposure to a vast array of underlying indices. The desk's clients include leading asset managers, pension funds, endowments, hedge funds, insurers, sovereign wealth funds, as well as private banks.

The ETF team provides investors exposure to equity indices via ETFs which are fully funded delta one instruments. The team in Mumbai manages the entire flow for all the tradable ETFs including NAVs, order management and collateral trading. The 2 member ETF team at DB Centre, Mumbai functions as an extension of the trading desk in London.

Key responsibilities

- Be part of the team providing exposure to Synthetically replicated company's Xtracker ETFs - with EUR 9bn equity exposure across Asia, Europe and the Americas.

- Performing Swap valuation & calculation of Net Asset Value for Xtracker ETFs(NAV for the DB Tracker Funds). Agreeing the same with AWM and MARKIT

- Will be responsible for the ETF trading related flows of Creation/redemptions & associated index hedge flows, including levered products.

- Managing the Inventory trading books by daily analysis and suggesting trades, monitoring and actioning on dividends and expiries across swaps.

- Managing the entire process for Non PSA swap creations.

- Managing a 9 billion book of fund collateralization. Done across 52 baskets with UCITS rules and in liquidity checks as required by fund PMs. This exercise is done with a focus on ensuring no corpacts hit the collateral books.

- Regular interaction with Sales and AWM - Computing AWM fills based on agreed costs, hedging flows B2B to nullify the equity/FX exposures on DB's books.

- Actively monitor fund tracking and ensure periodic resets are done to finish tracking discrepancy. End to end management - delta computation, requesting hedges, and communication to all stakeholders.

- Work with Risk and PnL teams to ensure all cash flows match. Various checks on price return indices tracking their div flows, Tax adjustments for certain regions. Simplifying and automating new flows. Troubleshooting risk and P&L issues for DBX books, and some aspects of ETF books.

- Liaise with FRM & SL to manage inefficiency, computing costs of DBX pledge collateral, SL algo cost optimization.

- Recently picked up the collateral management for Comstage in addition to Ossiam as a swap counterparty.

- Analyze monthly market trends and client flows to help the MM desk with facilitation orders.

Key Requirements:

- Strong analytical skill and ability to think laterally

- Highly motivated individual who is able to work to strict deadlines

- Team player; Driven / dedicated; A strong desire to learn, take on additional responsibilities and willingness to take initiative

- Strong interpersonal communication skills

- Outgoing, confident candidate who is able to deal with senior management, cross division and cross cultural teams

- 1-2 years of work experience preferred