Vice President, Rates Sales bei Lloyds Banking Group

Lloyds Overview:

Lloyds Bank Corporate Markets, plc (“LBCM”) forms an integral part of Lloyds Banking Group, a UK-focused retail and commercial bank with more than 30 million customers globally. We have been operating in North America for over 100 years, providing a client-focused approach for global businesses with strong links to the UK. Our New York operations provides a gateway between the UK and North America for financial institutions and large corporate clients, offering core banking products such as lending, trade finance and a range of debt capital and financial markets services through our US broker dealer, Lloyds Securities Inc.

Lloyds Bank is committed to attracting, retaining and developing the best talent in the industry and embracing the diversity of our people. We offer our colleagues ongoing training, development, mentoring and networking opportunities, as well as competitive benefits and vacation leave. We are dedicated to working with our community and offer a range of volunteering and fundraising activities throughout the year.

Diversity and inclusion are a part of who we are at Lloyds Bank. Lloyds North America strives to create a culture where every individual feels included, and empowered to be their best. Providing equal employment opportunities to all applicants and employees without regard to race, color, religion, creed, gender, gender identity or expression, age, national origin or ancestry, citizenship, disability, sexual orientation, marital status, pregnancy, veteran status, membership in the uniformed services, genetic information, or any other class protected by applicable law.

Lloyds values diversity in all backgrounds and experiences and wants their employees to bring their “whole self” to work!

Reasonable Accommodations for Qualified Individuals with Disabilities During the Application Process
Lloyds North America is committed to providing reasonable accommodations for qualified individuals with disabilities in our job application process. If you have a disability and require a reasonable accommodation in order to participate in the application process, please contact our Human Resources Dept at: [email protected].

Role Overview:

The USD Rates Sales VP will be part of a growing team focused on building a NY-based Rates Financial Institutions  business as an extension of our Financial Markets Global Rates platform. The ideal candidate has 5-10 years of experience, with an understanding of, and connectivity to, insurance and /or asset manager and pension client segments. Additionally, the ability to cover flows from other investor classes across Interest Rate Derivatives, Government Bonds, front-end rates products, and options will be required. Furthermore, the individual needs to have strong awareness of the rules of engagement with respect to selling these products to these various client segments. A proven track record and active portfolio of clients is mandatory to help build the sales function from the ground up.

In addition, significant coding and/or analytical skills would be necessary to improve systems and processes as well as analysing the markets for sales opportunities. The individual should have a working knowledge of all products and a level of technical expertise to effectively interact with the Rates Trading team while building the business.

Developing internal relationships across products and coverage is required to fulfil the needs of the North American platform. This role requires the ability to work closely, not only with colleagues within Financial Markets, but with the structuring teams, capital markets teams, risk, credit and control functions globally.

Having a deep understanding of the global macro environment and Financial Markets, strong communication skills, and a detailed understanding of Rates markets and products in particular is essential to the role. You must also be able to demonstrate detailed knowledge of the regulatory and conduct agenda and model correct behaviours in order to achieve positive client outcomes and our objectives.

Expectations for the position include:

• Distribution and marketing of US Interest rate products including STIRT, SOFR swaps, Fed Funds swaps, cross currency swaps, US Treasuries, and options.
• Support the buildout framework for the Rates Sales function in NY, including the end-to-end processes necessary for smooth risk control and execution, as you grow your book of business.
• Liaise with Trading partners in pricing up transactions for customers, with the goal of growing a profitable, sustainable business.
• Represent Lloyds Banking Group in all respects to the highest industry standards.

• Support the client portfolio build, in conjunction with the Head of Rates Sales, across strategically important segments.
• Handle all related risks in accordance with the Bank’s policies, procedures and reporting requirements as well as any relevant regulatory and statutory requirements.
• Offer consistent and competitive pricing in concert with the Trading desk, best execution and risk management in support of the CB Markets Rates Strategy, according to standard methodologies and regulatory requirements.
• Ability to communicate sophisticated issues and procedures verbally and / or by producing detailed reports, adapting the style and content according to the target audience.
• Support our client franchise by optimizing end-to-end deliverables of Rates Products and Services in collaboration with business partners and support functions.
• Support the design and analysis of relevant internal metrics, client analysis and external business intelligence.
• Review and analyze key external trends and influences, ensuring a wide range of information is used to support the development of the business.
• Generate and facilitate dissemination of value-add trade ideas and market colour to positively differentiate Lloyds offering.
• Provide input to business strategies and direction taking into account commercial business requirements and related risks and controls.

Education and experience required: 

• Undergraduate degree or equivalent experience.
• 5-10 years of proven relevant experience.

Key skills and knowledge required:

• Proven ability to distribute and execute U.S. interest rate products including OIS Swaps, Fed Funds Swaps, cross-currency swaps.US Treasuries, and options.
• A strong numerical background is required, in addition to an in-depth understanding of Fixed Income and Financial Markets.
• Solid understanding of RWA and RoE benchmarks as they pertain to valuation and pre-trade clearance.
• Adept at leveraging Bloomberg functionality.
• Familiarity with market standard technology, including AI tools.
• Ability to dynamically prioritize workflow and run multiple processes simultaneously in fast-paced environment.
• Ability to proactively handle tasks and issues as they arise.
• Organizational awareness.
• Regulatory Knowledge: Understanding of current market regulations (e.g., Dodd-Frank, MiFID II) and risk management practices.
• Strong work ethic, detail orientation, and team focus.
• Exemplary written and oral communication skills.
• Strong skills in various Office products (Excel, PowerPoint, etc.).
• Willingness to work across functions to support and facilitate business growth.
• Series 7, 63 & CISI Qualification required.

This role is subject to the terms of the Senior Managers, Senior Insurance Managers and Certification Regimes as required by UK financial industry regulators (FCA & PRA).

Salary Range: $185,000-235,000