Description
As an Associate or Associate Director within the Fixed Income Financing desk in the Global Securities Finance (GSF) team at National Bank of Canada (NBC) you will support and progressively take ownership of secured financing transactions, with direct exposure to pricing, risk decisions, and balance sheet optimization. This role is well suited for intellectually curious, analytically driven candidates who enjoy solving complex problems under time pressure in live markets.
Over time, the role will involve increasing responsibility for risk-taking, trade structuring, and independent idea generation.
Your Job
- Execute and manage secured funding transactions alongside senior traders, including:
- Repo and reverse repo
- Securities lending
- Bond forwards, total return swaps, and structured financing trades
- Contribute to the structuring, analysis, and pricing of complex credit repo trades, including collateral modeling, correlation analysis, haircut calibration, and stress scenario evaluation
- Perform data-driven analysis to support pricing decisions, risk assessment, and balance sheet optimization
- Maintain and enhance trading, risk management, and P&L attribution tools; partner with quantitative development teams to design and improve electronic trading and analytics infrastructure
- Develop familiarity with legal documentation (GMRA, GMSLA, ISDA) and trade mechanics
- Track market developments, funding levels, specials, and collateral dynamics to generate trade ideas and identify business opportunities
- Build and maintain strong relationships with counterparties through daily market interaction
- Collaborate closely with Treasury, Risk, Legal, Operations, and Middle Office to ensure seamless trade execution and lifecycle management
- Develop a strong understanding of balance sheet constraints, liquidity metrics, and capital usage, contributing ideas to optimize the Bank’s financial resources
- Ensure strict adherence to regulatory requirements, internal risk controls, and governance standards
Your Team
The Fixed Income Financing desk within GSF at NBC is responsible for the Bank’s collateralized trading and client financing activities across repo, securities lending, and funding derivatives.
The fast-evolving desk trades both government and credit collateral, transacting with a diverse global client base including banks, broker-dealers, asset managers, central banks, and institutional investors. GSF operates on an integrated platform spanning fixed income and equity financing, delta-one products, and structured financing, working closely with NBC Treasury to optimize funding, liquidity, and balance sheet usage.
This role offers hands-on front-office exposure to repo trading, electronic execution, collateral optimization, and quantitative analysis within a growing global franchise, with teams located in Toronto, Montreal, New York, London, and Hong Kong.
Basic Requirements
- Bachelor’s degree in Finance, Economics, Mathematics, Engineering, or a related quantitative discipline
- 2-4 years of relevant experience in capital markets, trading, risk management, treasury, or securities finance (flexible depending on candidate profile)
- Strong analytical and quantitative skills, with comfort working with data and pricing concepts
- Ability to learn quickly and adapt to evolving market conditions
- High attention to detail with a strong risk management mindset
- Ability to multitask, work under tight deadlines, and make sound decisions under pressure
- Experience with Python, VBA, SQL, or similar analytical/programming tools (asset)
- Exposure to repo, securities finance, structured credit, or balance-sheet-driven trading (asset)
- Strong interest in market microstructure, funding dynamics, and quantitative finance (asset)
- Fluency in French and English (international markets environment) (asset)
Your benefits In addition to competitive compensation, upon hiring you’ll be eligible for a wide range of flexible benefits to help promote your wellbeing and that of your family. * Health and wellness program, including many options * Flexible group insurance * Generous pension plan * Employee Share Ownership Plan * Employee and Family Assistance Program * Preferential banking services * Opportunities to get involved in community initiatives * Telemedicine service * Virtual sleep clinic These are a few of the benefits available to you. We have an offer that keeps up with trends as well as your needs and those of your family. Our dynamic work environments and cutting-edge collaboration tools foster a positive employee experience. We actively listen to employees’ ideas. Whether through our surveys or programs, regular feedback and ongoing communication is encouraged. We're putting people first We're a bank on a human scale that stands out for its courage, entrepreneurial culture, and passion for people. Our mission is to have a positive impact on peoples' lives. Our core values of partnership, agility, and empowerment inspire us, and inclusivity is central to our commitments. We offer a barrier-free workplace that is accessible to all employees. We want our recruitment process to be fully accessible. If you require accommodation, feel free to let us know during your first conversations with us. We welcome all candidates! What can you bring to our team? Come live your ambitions with us!
