Is this type of role a stepping stone to becoming a Junior Trader?
Hey all thanks for taking the time to give me some advice. I originally considered going into ibanking, but instead found myself leaning more towards a trading role at a broker/dealer. I'm a recent college graduate and received an offer for what seems like a combination of a risk/credit/operations role. Unlike banking however, the path to becoming a trader seems at least to me more confusing and nonlinear. Is this a good type of role to start out in? What do most traders do before they become traders, as they don't seem to be like ibanking and take waves of newly minted graduates at least for fully fledged trading positions. I've included the delegated responsibility for the position below. Furthermore, please forgive any incorrect assumptions about how the career path for a trader begins I'm just going off what my best guesses are as this world only came to my attention pretty recently.
Initiating and responding to the Repo Trading desk margin call activity Calculating collateral amounts to ensure they meet the client’s thresholds Investigating and resolving margin call disputes Assisting the Securities Lending desk in mark to market processing Monitor and maintain approved client margin collateral securities Input collateral trade information into the lending system Update rates on securities out on loan Monitor trade settlements daily Solicit indications from counterparts based on client requests Create and monitor daily trade logs and related reports Perform other duties as required and participating in special projects as deemed necessary and appropriate by the Supervisor, Head Trader, and/or Department Head**
Just to preface I'm interested in becoming a junior trader at a broker/dealer or a low/mid tier bank.
Bump
This is a MO position as there are no product-specific analytical work responsibilities. There are many pathways to becoming a trader, but usually all involve some kind of analytical work such as assisting Sales w/ client pitches or assisting traders w/ building pricers/models.
Going from MO to FO in trading is tough but not unheard of.
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