ETF Capital Markets Manager, Vanguard Canada
Vanguard, one of the world's largest investment management companies seeks an ETF Capital Markets Manager to lead the Exchange Traded Funds (ETF) Capital Markets Team in Canada. The Head of ETF Capital Markets should be capable of being a significant contributor to Vanguard's image as an investment thought leader. Participates in highly visible internal and external discussion forums regarding ETF trading and liquidity topics, and serves as the primary relationship manager for the Canadian capital markets community.
Your primary duties and responsibilities:
- Administers the Capital Markets portion of all ETF product launches and manages any project designed to improve the operational or trading aspects of the ETF lineup.
- Manages efforts surrounding ETF spreads, execution quality, and premium/discount analysis. Demonstrates initiative, creativity and expertise in independently identifying opportunities and solutions for areas of improvement within the ETF operational process. Ensures team provides standard reports around ETF trading and spreads.
- Develops and maintains a broad knowledge and awareness of trading industry developments, competitors, and exchange rules that impact the trading community. Partners with interested parties to provide recommendations to the regulators and professional bodies, and the stock exchanges with regards to market structure and proposed rules.
- Serves as expert on market and trading characteristics related to various exchanges. Understands ETF trading from the point of view of a market maker/trading desk. Educates block trading desks on ETF product structure, ways to price and trade ETFs, and appropriate developments across the industry.
- Manages the Designated Broker and Dealer agreement process. Audits and maintains authorized persons for all market making firms. Develops and maintains relationships with Vanguard ETF custody bank representatives in order to effectively manage the DB and Dealer agreement process.
- Identifies trading opportunities for Vanguard ETFs that align with the complex trading strategies of trading firms. Positions and sells Vanguard ETFs with the various types of trading desks. Works daily with front office and the external ETF service provider to facilitate the creation and redemption process for various client situations. Leverages those relationships to facilitate ETF block trading between clients and institutional sales desks.
- Assists in the sales process for strategic and/or complex transactions with prospect and existing clients to ensure a great client experience. Provides in-depth product information around the various aspects of portfolio construction, implementation and trading.
- Maintains knowledge of portfolio optimization and risk to ensure ETF baskets are liquid and competitive in the market place.
- Drafts and assists in the creation of training profiles and participates in ETF trading education efforts across the firm. Provides technical ETF trading training to Sales and clients.
- Manages relationships with outside vendors including exchanges, specialist firms, market makers, and index providers. Travels with Sales Executives to meet with key clients or prospects to discuss trading of Vanguard ETFs. Speaks at industry conferences or Vanguard symposiums as required.
- Ensures ongoing communications and collaboration with Vanguard global ETF Capital Markets teams. Contributes to gathering and execution of global best practices related to trading and liquidity of Vanguard ETFs.
- Manages staff. Provides guidance, training and motivation as necessary to develop staff. Hires, evaluates and counsels personnel. Follows corporate disciplinary procedures per established Vanguard standards as required. Sets performance standards, reviews performance, provides feedback, and recommends wage increases in accordance with all applicable Human Resources policies and procedures. This position will eventually manage staff of 1-3 capital markets specialists over next few years.
The ideal candidate should possess:
- Undergraduate degree or an equivalent combination of education and experience. MBA or CFA preferred.
- Minimum eight years business experience including a minimum of five years ETF experience and/or equity/program/derivatives trading experience.
- Experience in trading techniques, capital markets and market liquidity.
- Expertise with Bloomberg strongly preferred.
- Solid organizational skills and ability to work across multiple functions.
- Excellent interpersonal, negotiation and conflict resolution skills.
- Proven ability to lead teams.
- Demonstrated self-starting initiative.
- This position requires 10-20% travel.
- Vanguard is not offering visa sponsorship for this position.
- Vanguard welcomes and encourages applications from people with disabilities. Accommodations are available on request for candidates taking part in all aspects of the selection process.
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