This position serves as the firm’s primary point of contact for Broker Relationships within Western Asset’s Investment Support function.
This position is responsible for managing Broker relationships, resolving complex problems between the firm, brokers, and/or clients, evaluating service levels, and developing recommendations for new services and/or providers covering all of the following products: corporate, government, derivatives, mortgages, foreign exchange, municipal, liquidity, etc.
Responsibilities/Duties:
Meet periodically with major brokers
Provide metrics and measurement through report card
Communicate issues from brokers on Western feedback to relevant areas
Request and obtain metrics for Western Asset and make recommendations for changes to increase efficiency
Reverse survey on Western
Peer Group analysis
Document brokers updates regarding industry solutions they are utilizing or moving towards – Omgeo CTM, etc.
Compare WA fails volume vs. market
Mortgages
Corporate Bonds
Treasuries
Swaps confirms o/s in the market vs. WA volume
Work with brokers to ensure adoption of automated interfaces
Alert
ETC adoption and utilization of fix interfaces
Attend broker “round tables” and disseminate information to Securities Operations Management Team
Identify training opportunities at the brokers – attend and document the content, usefulness and attendees. Give feedback to brokers
Utilize FMS database globally to identify trends and areas for analysis with specific brokers
Monitor all interest claims paid by Western
Complete full and detailed analysis of issue and reason for payment
Identify changes required for workflow/systems and document recommended changes to technology/business processes
Participate in all industry related discussions
Become actively involved and document all meetings identifying where Western is in line with the market and also where efficiencies can be gained
Manage Z Yen survey
Carry out detailed analysis on results and make recommendations for Western’s business based on the survey
Elevate issues to senior management and trading desk when appropriate
Communicate broker status to the trading desk periodically
Build and maintain the Securities Operations Global Settlement Guide based on information from the market on settlement processes in foreign countries
Publish monthly newsletter on market conditions and interesting facts
Competencies:
Five or more years of operations and/or related management experience
Advanced knowledge of many operations functions within the industry
Comprehensive understanding of investment products and securities operations specific to the fixed income industry
