By funding/liquidity desk I mean the desk that manages the funding strategy for the dealer’s balance sheet through unsecured funding, securitized and alternative financing solutions. Trading of liquidity portfolio based on global macro and funding needs, G10 STIR trading, collateral optimization, CP / CD / BDN / deposits, xccy arbitrage, enterprise cash management.
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Bump. Was curious as well. Should be the repo desk right?
I’m interested in repo as well which is a funding desk. I was thinking more of a STIR/money market and liquidity desk i.e. the dealer’s treasury team/desk which might also trade repos.
Repo / funding are basically operations roles, bonus structure typically reflects that.
I thought repo was exempt from Volcker so they have more opportunity to prop trade? I’m assuming STIR also has more discretion as they can express shorter term macro views and also optimize the balance sheet at their discretion?
lol no it’s not. Repo desks at both sell side and buy side can have decent bonus. Obviously not like a derivative desk.. but can be a six figure bonus.
Bump
usually these teams sit outside of "markets" and in some operations silo. the traders I know there are sharp but comp is lower and stress is much, much lower. you will see some ex-s&t guys in their 40s coasting in these roles. you'll see them described as "treasury" (not to be confused with treasuries) or ALM and they trade with the bank's own market making desk as well as other banks. I wouldn't recommend doing this role in NY but if you happened upon something in a smaller city for a large bank it could be compelling given that the lower comp is offset by lower cost of living and the lifestyle seems decent with some decent intellectual stimulation as well.
I know at my bank their base is the same as other corporate finance roles but I was curious if you had an idea on what their bonus is like? I’ve heard it’s like a 50% target but I wasn’t sure how accurate that is.
Dream life
Seeing cirucci's comment makes me want to quit IB and do treasury. That's the dream life.
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