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Analyst/Associate – Equities Index Rebalance Trading Strategist

New York, New York

Job Description:

Analyst/Associate – Equities Index Rebalance Trading Strategist

The Bank of America US Portfolio Risk Trading desk trades index rebalance events to provide liquidity to passive indexer clients.

The AUM passively benched to indexes has grown rapidly over the last few decades. As passive assets have grown, index composition changes have had increasingly large trading impacts. Index related trades can be triggered by corporate actions such as M&A transactions, equity offerings and stock splits or by quarterly rebalances which have become outsized liquidity event dates with the potential for price dislocations in thousands of securities. Our team follows and trades these index events by predicting index composition changes prior to announcements, trading throughout the entire cycle of the rebalance, following and trading ongoing corporate actions, providing liquidity to Portfolio Trading clients and offering expertise on over 600 indexes globally to internal and external clients. This role touches all aspects of Sales & Trading and is an opportunity to develop an expertise in a growing industry.

The team is looking for a junior index strategist to be based in New York, NY.

Role & Responsibilities

  • Work primarily with Global Portfolio Risk and Agency Trading teams and their clients as their go-to index expert
  • Maintain knowledge of methodologies and monitor ongoing index events for major AMRS indexes including CRSP, Nasdaq, Russell, S&P, FTSE, MSCI, TSX, etc.
  • Run predictions using Excel and Python for index rebalances and monitor the rebalance trade from start to finish (prediction phase through reversion)
  • Follow corporate actions and conduct forward looking analysis to estimate index impact and resulting trade sizes
  • Send client friendly content including daily index monitors, quarterly rebalance recaps and price performance analyses
  • Trade index rebalances after receiving necessary licenses
  • Follow markets and contribute ideas for trading and hedging strategies
  • Despite primary affiliation with Portfolio Trading desk, interact with every desk on the Equity trading floor and their clients

Recommended Skills

  • The desire to work with the index landscape and interest in markets and trading strategy
  • Comfortable with Excel
  • Python experience is a plus; willingness to learn Python is required
  • Analytical skills; Not afraid of data sets and digging into numbers
  • Communication skills; Ability to speak with various audiences
  • Bachelor’s Degree required
  • Series 7 and 63 licenses; individuals who are not yet licensed will need to obtain licenses within 3 months of their start date
  • Must be adaptable with the ability to thrive in a fast paced trading floor environment

Job Band:

H6

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Analyst/Associate – Equities Index Rebalance Trading Strategist

The Bank of America US Portfolio Risk Trading desk trades index rebalance events to provide liquidity to passive indexer clients.

The AUM passively benched to indexes has grown rapidly over the last few decades. As passive assets have grown, index composition changes have had increasingly large trading impacts. Index related trades can be triggered by corporate actions such as M&A transactions, equity offerings and stock splits or by quarterly rebalances which have become outsized liquidity event dates with the potential for price dislocations in thousands of securities. Our team follows and trades these index events by predicting index composition changes prior to announcements, trading throughout the entire cycle of the rebalance, following and trading ongoing corporate actions, providing liquidity to Portfolio Trading clients and offering expertise on over 600 indexes globally to internal and external clients. This role touches all aspects of Sales & Trading and is an opportunity to develop an expertise in a growing industry.

The team is looking for a junior index strategist to be based in New York, NY.

Role & Responsibilities

  • Work primarily with Global Portfolio Risk and Agency Trading teams and their clients as their go-to index expert
  • Maintain knowledge of methodologies and monitor ongoing index events for major AMRS indexes including CRSP, Nasdaq, Russell, S&P, FTSE, MSCI, TSX, etc.
  • Run predictions using Excel and Python for index rebalances and monitor the rebalance trade from start to finish (prediction phase through reversion)
  • Follow corporate actions and conduct forward looking analysis to estimate index impact and resulting trade sizes
  • Send client friendly content including daily index monitors, quarterly rebalance recaps and price performance analyses
  • Trade index rebalances after receiving necessary licenses
  • Follow markets and contribute ideas for trading and hedging strategies
  • Despite primary affiliation with Portfolio Trading desk, interact with every desk on the Equity trading floor and their clients

Recommended Skills

  • The desire to work with the index landscape and interest in markets and trading strategy
  • Comfortable with Excel
  • Python experience is a plus; willingness to learn Python is required
  • Analytical skills; Not afraid of data sets and digging into numbers
  • Communication skills; Ability to speak with various audiences
  • Bachelor’s Degree required
  • Series 7 and 63 licenses; individuals who are not yet licensed will need to obtain licenses within 3 months of their start date
  • Must be adaptable with the ability to thrive in a fast paced trading floor environment

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22000989

Band: H6

Manages People: No

Travel: Yes, 5% of the time

Manager:

Talent Acquisition Contact:

Christina Rodgers

Referral Bonus:

0

Street Address

Primary Location:
ONE BRYANT PARK, NY, New York, 10036