Managing Director - Head of Municipal Sales & Trading

Position: Managing Director - Head of Municipal Sales & Trading
Location: Chicago, IL (Onsite) OR New York, NY (Onsite)
The Managing Director, Head of Municipal Sales & Trading (MD) has a critical role in ensuring the efficiency, operational effectiveness and the profitability of the municipal desk on a daily basis. The MD provides strategic direction and is responsible for leading and motivating the sales team to ensure profitability of the department thereby achieving and surpassing its established revenue goals.
Responsibilities  include buying and selling of municipal securities on behalf of the firm with the intent to distribute them to our customers, the dealer community and electronic platforms in the most profitable manner; Managing the  risk of any long positions by virtue of establishing a hedge (when appropriate); Supervising the sales team by adhering to the company corporate and departmental policies, internal compliance/controls and external regulatory rules governed by FINRA, SEC and MSRB.  The MD will objectively determine customer account assignments with the intent of maximizing secondary and primary market revenues.
Managing and overseeing the productivity and profitability of the Municipal Sales and Trading desks locally and remotely
Develops, implements and executes short-term and long-term sales and trading business plans to increase revenue and reduce expenses
Create, in conjunction with all team members, specific individual goals to support the business plan
Pro-actively develops, motivates and leads the team by creating strategies and techniques to improve the breadth and level of services to the customers
Buying and selling municipal securities within the capital limits of the firm
Establishing and monitoring a hedge (when appropriate)
Reviewing all municipal bond transactions
Maintaining a business model and the willingness to adjust as needed to maintain a profitable revenue stream
Creating and updating marketing material when needed
Travel to establish and/or strengthen relationships with customers
Conducts regular departmental meetings providing updates, reviewing sales activities and forecasting revenues ensuring while focusing on target goals
Monitoring of municipal bond team’s PTO and adherence to company policy
Assist Public Finance Department with market intelligence as needed
Maintain, expand network of industry connections for the benefit of the firm in the areas of trading strategies, recruitment and industry trends
Facilitating business by creating trade ideas in both the RISK and RISKLESS book
All other duties as assigned
Requirements
Bachelor’s degree, Finance major preferred
Minimum of ten (10) years of related industry experience
Minimum of ten (10) years directly managing a team of employees locally and remotely
SIE, Series 7, Series 52, Series 53, Series 63, Series 24
Possess thorough knowledge and understanding of all functions of the municipal bond market and risks associated with trading, including both credit and interest rate risk
Basic EXCEL, Bloomberg and Power Point skills
Possess the highest level of integrity, strong analytical skills, critical thinking skills and be able to work under minimal supervision
A team player and be able to work cohesively with management, colleagues and staff
Possess the desire to learn and implement new trading strategies, techniques and technologies
Strong interpersonal and communication skills to effectively communicate internally and externally
The ability to teach new/junior hires the municipal bond market
Capable of motivating, inspiring and driving a diverse team to reach and/or exceed established individual and departmental revenue goals
A proven record of profitable trading in the muni bond market
Pro-actively address performance issues directly and honestly and provide an action plan when needed
Competently trouble-shoot issues and problems and make a sound decision promptly in a fast paced environment
Able to travel to see customers, attend company related meetings and/or industry gatherings during work hours, after work hours and/or weekends
Self-motivated, disciplined, assertive and works well under pressure
Management Requirements:
Quarterly updates of the business with the executive committee
Provide updates to the President. as necessary, when RISK EVENTS are present in the market place
Motivates and leads the team to reach and exceed established revenue goals
Make real time decisions weighing complex circumstances under considerable time pressures
Fosters a driven, goal‐oriented and team environment
Conduct annual performance reviews of the municipal bond sales team, including both work effort and work results
Analyze and evaluate account performance, with discretion to reassign underperforming accounts
Pro-actively monitor and enforce company policy and provide actionable/reasonable consequences when violations occur
Evaluate outside talent as possible recruits
Hire and terminate employees as directed by the executive committee
Benefits
Employee Profit Sharing Plan
401K Retirement Plan with Company Match
Medical, Dental & Vision Insurance Plans
Group Whole Life and Term Life Insurance Plans
Short Term & Long Term Disability
Pre-Tax Plans (Dependent Care, FSA, HSA, Transit & Parking)
Critical Illness & Accident Plans
Employee Assistance Program