Execution, Financing and Clearing: Agency Lending - Trading Corporate Action and ADR Trading Specialist, Vice President Boston, Massachusetts
We are seeking an experienced Vice President to serve as a Corporate Action and American Depositary Receipt (ADR) Trading Specialist within Agency Lending. The successful candidate will combine strong securities lending judgment with deep knowledge of corporate action event mechanics and depositary receipt markets. This person will identify event-driven revenue opportunities, translate complex elections and market conventions into clear trading strategies, and manage execution risk across clients, borrowers, custodians, depositaries, operations teams, and local markets.
- Demonstrates deep knowledge of mandatory and voluntary corporate actions, including mergers, tender and exchange offers, rights offerings, spin-offs, conversions, distributions, redemptions, and proxy-related events
- Understands ADR and global depositary receipt structures, including issuance and cancellation mechanics, local-to-ADR conversion economics, foreign exchange impacts, market cutoffs, settlement considerations, fees, taxes, and liquidity constraints
- Applies disciplined commercial judgment to event-driven pricing, borrower demand, expected value, and risk-reward decisions
- Communicates complex event terms clearly to clients, counterparties, traders, operations teams, and senior stakeholders
- Demonstrates leadership, sound escalation judgment, attention to detail, and a continuous-improvement mindset
What You'll Be Doing Key responsibilities include:
- Lead the identification, analysis, pricing, and execution of corporate action and ADR-related securities lending opportunities across relevant global markets
- Interpret transaction documents, election terms, key dates, proration mechanics, settlement conditions, market restrictions, and economic outcomes to develop clear trading strategies
- Manage event-driven positions throughout the full lifecycle, including pre-event positioning, recalls, elections, settlement, post-event reconciliation, and issue resolution
- Evaluate ADR-versus-local market economics by incorporating conversion ratios, depositary fees, foreign exchange, taxes, settlement timing, liquidity, borrowing costs, and market-specific constraints
- Partner with regional trading desks to coordinate inventory, borrower demand, pricing, and execution where corporate actions or depositary receipt flows cross markets and time zones
- Meet revenue targets and optimize client returns while operating within approved counterparty, market, operational, liquidity, and position risk limits
- Provide timely market intelligence and actionable event summaries to clients, trading leadership, relationship management teams, and other stakeholders
- Maintain and enhance relationships with borrowers, depositary banks, custodians, market agents, and internal subject matter experts
- Collaborate with operations, asset servicing, legal, compliance, tax, technology, and risk teams to support accurate elections, settlement, controls, and escalation management
- Develop repeatable analytics, dashboards, and controls that improve event capture, scenario analysis, pricing consistency, deadline management, and post-trade transparency
- Mentor junior traders and help strengthen corporate action and ADR knowledge across the broader trading organization
- Comply with all global trading procedures, conduct standards, regulatory requirements, and internal risk and control frameworks
You will be part of the broader Execution, Financing, and Clearing ecosystem, which includes Agency Lending (AL), Prime Services (PS), Secured Financing (SF), High-touch and Electronic Trading, Partnered Trading, Currency Management and Cleared Repo. The role offers significant exposure to global trading desks, product partners, control functions, clients, and senior leadership within a collaborative and talent-focused environment.
Qualifications - 8 to10 years of experience in securities finance, equity finance, corporate action trading, ADR trading, event-driven trading, or a closely related market-facing role
- Demonstrated experience evaluating and executing trades linked to complex corporate actions and depositary receipt activity
- Strong understanding of securities lending economics, recalls, settlement cycles, market liquidity, collateral, counterparty risk, and trade lifecycle management
- Working knowledge of depositary receipt agents, global custody and asset servicing processes, foreign exchange, withholding tax, and cross-border settlement conventions
- Ability to analyze transaction terms, model alternative outcomes, identify operational dependencies, and make timely decisions under tight deadlines
- Exceptional written and verbal communication skills, with the ability to explain complex events in concise commercial terms
- Proven ability to lead, mentor, influence across functions, and manage multiple high-priority events in a dynamic environment
- Strong organizational skills, attention to detail, control awareness, and escalation judgment
- Proficiency in QlikView, Bloomberg, Excel/VBA, SQL, Python (Pandas/NumPy), or comparable trading and analytics tools
- Bachelor's degree in business, finance, economics, STEM, or a related discipline
What We Offer - Competitive salary and opportunity for discretionary bonus
- Paid day off for birthday on us
- Numerous benefits including 401(k), healthcare, dental plan, legal and identity theft coverage
- Wellbeing and health programs
- Personal development opportunities and an extensive web-based training catalogue
- Global inclusion, global outreach, and corporate citizenship programs, including volunteering
- Dynamic and diverse international and multicultural working environment
Salary Range: $195,000 - $198,750 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
