Fixed Income Trader

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
The Fixed Income Trader will join the Bank of America Private Bank Trading Desk and work closely with Senior Fixed Income Traders responsible for the execution of both taxable and tax-exempt fixed income order flow.

This role provides an opportunity to develop broad fixed income trading and execution expertise while supporting Private Bank clients, Portfolio Managers, and investment professionals. The successful candidate will gain hands-on exposure to fixed income markets, institutional liquidity, market structure, execution strategy, and relationship management.

 

This job is responsible for monitoring risk and developing trading activities with limited direction. Key responsibilities include supporting buying and selling activities for fixed income securities. Job expectations include having subject-matter expertise and knowledge of risk management, hedging and trading strategies, and market characteristics.

Responsibilities:

• Works closely with Senior Fixed Income Traders to support the execution of taxable and tax-exempt fixed income transactions for Private Bank client and managed-account portfolios.
• Monitors fixed income markets, pricing, liquidity, and market developments to support timely and efficient trade execution.
• Develops expertise across fixed income products, including municipal securities, U.S. Treasuries, investment-grade corporate bonds, agencies, structured products, commercial paper, and other fixed income securities traded by the Private Bank Trading Desk.
• Assists Senior Traders with sourcing liquidity and executing security-specific orders through electronic trading venues and institutional broker/dealer relationships.
• Maintains and develops strong relationships with internal Fixed Income partners, including Portfolio Managers, investment professionals, and Chief Investment Office partners.
• Builds relationships with external institutional broker/dealer counterparties and develops an understanding of their liquidity, capabilities, and market expertise.
• Communicates relevant market color, pricing, liquidity, and trading activity to internal investment partners. The desk currently provides ongoing market information and trading perspectives to Private Bank and CIO professionals.
• Supports best-execution responsibilities through disciplined order handling, attention to execution quality, accurate documentation, and appropriate escalation.
• Assists with trading analysis, market data, reporting, and initiatives designed to enhance the effectiveness of the Private Bank Trading platform.
• Assists with execution of fixed income trading activities, while sharing knowledge of the current market environment
• Performs fixed income activities in compliance with federal regulations, industry standards, and other requirements and ensures trading orders are executed in an accurate and efficient manner
• Assists with the assignment of accounts to pre-defined trading models and administers trades based on product guidelines
• Supports the buying and selling of financial instruments in accordance with established trading strategies and risk parameters
• Analyzes market trends and economic indicators to develop and implement fixed income trading strategies that align to the Bank's financial objectives and risk tolerance
• This role does not require FINRA licensing and all FINRA licenses held will need to be absolved.

Required Qualifications:

• 2+ years of relevant professional experience, preferably in fixed income trading, capital markets, investment management, banking, or a related financial-markets role.
• Demonstrated interest in and understanding of fixed income markets and trading.
• Strong quantitative, analytical, and problem-solving skills.
• Excellent attention to detail and the ability to operate effectively in a fast-paced, market-driven environment.
• Strong written and verbal communication skills.
• Ability to establish effective working relationships with traders, investment professionals, internal partners, and external counterparties.
• Demonstrated ability to work collaboratively as part of a trading team while exercising sound judgment, accountability, and a strong control mindset.
• Intellectual curiosity and a desire to build expertise across both taxable and tax-exempt fixed income markets.

Desired Qualifications:

• Bachelor's degree 

Skills

• Business Acumen
• Trade Monitoring
• Trading
• Trading Strategy
• Trading and Investment Analysis
• Risk Management
• Data and Trend Analysis
• Oral Communications
• Policies, Procedures, and Guidelines
• Regulatory Compliance
• Risk Analytics

Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil ​liability.​  

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range

$135,000.00 - $167,800.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.