At First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued here.
Incredible teams doing exceptional work, every day
First Republic Private Wealth Management is comprised of investment management, brokerage, trust, financial planning and insurance professionals. We offer customized wealth management solutions for our clients from a wide array of services including comprehensive investment management, financial planning, estate planning, trust services, endowment management and more. Our goal is to understand our clients’ unique needs and support them throughout a lifetime of financial goals.
Common goals, uncommon potential
The primary role of the Vice President, Trader is to control risk and support a team of Wealth Managers and Advisors with the execution of the equities, options, mutual funds and exchange-traded funds.
The Vice President, Trader will be responsible for the trading desk’s timely and accurate execution of trades throughout the day as submitted by Wealth Managers for our managed account platform and to liaison between external 3rd party investment managers and the middle and back office support groups in San Francisco, New York, and other principal locations. This position will work very closely with our firm’s research department to properly transition new portfolios, provide trading guidance where necessary, and be able to work efficiently with increased autonomy.
The Vice President, Trader will be proactive within the entire investment community, and will be a reliable source of information for a number of wealth professionals.
We are looking for someone with a strong work ethic, high integrity with a deep knowledge of buy side trading; this includes regulations, requirements, an analytical and meticulous mindset, and an ability to lead, inspire and thrive in a collaborative work environment.
What you’ll do as a Vice President, Trader:
- Lead a team of traders and work closely with the operations team which includes leadership, mentoring, and evaluation.
- Unified Managed Account platform execution and maintenance: Investing new assets, tax transitions, rebalancing and liquidating accounts. Understand how to properly manage external and internal equity model portfolios, along with the changes that accompany proper maintenance.
- Recommend, design, implement, educate and maintain standard methodologies in trade architecture and execution from pre-trade through post trade analysis.
- Enhance and provide oversight for the periodic monitoring and interpretation of drift reports.
- Keep up-to-date with and ensure team awareness of industry regulation changes as well as any internal compliance updates.
- Oversight of process procedures and protocols to mitigate firm risk.
- Responsible for the review and dissemination of quarterly Best Execution data.
- Scheduled portfolio and trade validation: confirming accuracy of trades and allocations in client accounts, both pre and post trade.
- Manage executions among a diverse number of custodians and counterparties.
- Continuously improve the trading process and procedures to gain efficiencies and improve trade execution, including:
- Assisting with the implementation of the latest technological tools to improve the trading process.
- Prepare trade performance measurement reports for review of trade execution.
- Provide leadership to other members of the group in this and other areas of development.
- Participate in user acceptance testing on technology enhancement to firm proprietary and vendor distributed applications (order management systems, trade capture and enrichment).
- Perform other duties, as required to satisfy executive management, compliance, audit and regulatory requests.
Responsibilities include the following: 1) adhering to and complying with all applicable, federal and state laws, regulations and guidance, including those related to Anti-Money Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.), 2) adhering to Bank policies and procedures, 3) completing required training, 4) identifying and reporting potential suspicious activity to the BSA/AML Officer, and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank.
What skills you will use:
- Individual must have a bachelor’s degree in finance or a related field plus 7-10 years of related experience.
- Strong knowledge of capital markets, pricing, and trading strategies and familiarity with a variety of the field’s concepts, practices and procedures.
- Strong understanding of trading procedures and broader regulatory and financial concepts.
- Team is seeking a detail-oriented individual who has the ability to multi-task in a fast paced environment.
- Recommended Series 7 and 66 or 7, 63 and 65.
- Proven ability to exercise good judgment, great telephone and organizational skills, time management.
- Team player focused on providing extraordinary service to both internal and external clients.
- Furthers the First Republic Bank culture and values PC Skills should include, but not limited to, Microsoft Office (Word, PowerPoint, Outlook and “extremely” proficient in Excel).