Position: Middle Office Associate

Title: Associate Director

Department: Enterprise Business Services

Location: New York, NY or Princeton, NJ (Hybrid)

Annual Salary Range: $120,000 - $150,000

Why Work at MacKay Shields

Central to MacKay Shields’ culture is the strong commitment to both our clients and employees. We believe a connection exists between satisfied clients and happy employees. We promote a high degree of autonomy and place accountability across investment teams and offices. We encourage collaboration, innovation, and professional development as anchors to our culture.

Why What We Do Works

Since 1938, MacKay Shields has partnered with clients to help meet their investment goals through high quality products and exceptional service. As active managers, we serve a prominent group of pension funds, government and financial institutions, family offices, high net worth individuals, endowments, and foundations from across the globe. We were acquired by the New York Life Insurance Company in 1984 as the foundation to its multi-boutique investment advisor model. The model—which was designed to combine the benefits of nimble and independent investment boutiques with the strength of a financially strong partner—has been key to MacKay Shields’ success. The firm currently manages assets for institutional investors and other financial service providers across the globe.

Role

MacKay’s Investments team (largely focused on Fixed Income) has been steady growing both in terms of assets under management and complexity. In order to maximize our ability to add value and partner in the growth of our business, the Middle office team is looking for a team leader to provide daily support of multiple products while also focusing on value add initiatives such as subject matter expertise, process improvement and documentation, project management and organization.

We are seeking an individual with a solid understanding of Buy Side middle office support across various products. Someone who will be able to apply these skills appropriately to an organization with the size and scale of Mackay Shields.

Responsibilities

• Organize, prioritize and lead team of four middle office staff
• Oversea a managed service team (offshore) responsible for providing middle office support
• Support trade life cycle events across many fixed income and international equity asset classes and general oversight for the department
• Experience and understanding daily counterparty exposure, collateral service agreements (CSA), (MSFTA) and variation margin and initial margin (FCM) requirements for Futures and OTC and tri-party collateral.
• Understanding workflows and concepts related to Bank Loans
• Provide escalation for middle office team across business lines and work with bank, brokers and internal groups to solve problems

• Analyze , document and improve current processes and controls
  

Requirements / Skills

• 8-10 years of recent experience in Asset Management (Buy Side) Middle Office team and several years of leadership experience
• Oversight and organizational skills
• Proactive Team Lead Mentality
• Understanding of post execution, confirmation, settlement and fail resolution of Fixed Income and Equity products like Municipal and Corporate Bonds, Treasury’s , Cash Equities (Domestic and Foreign) and Mortgages
• Knowledge of Omego’s suite of post execution applications
• Knowledge of various derivative products such as Futures, OTC, FOREX, Bank Loans
• Experience and comfort dealing directly with clients, investment teams, and other senior stakeholders
• Strong Communication and interpersonal skills. Able to work in team environment
• Highly organized, detail oriented, ability to multi task and problem solve
• Team lead mentality
• Advanced Microsoft Office Skills
• Relevant Applications: Bloomberg AIM, WSO, Clearpar, Tradeflow, Omgeo,
  

MacKay Shields LLC offers an excellent salary and benefits package.

At MacKay Shields, we commit to the equitable treatment of all. Differences in background, experience, characteristics, and abilities—whether readily visible or unseen—make each person unique and valuable. Attracting, developing, and retaining diverse talent is critical to our success. We promote a comprehensive approach to diversity and inclusion to serve our employees, our clients, and our community. Striving to make a positive impact and deliver results through performance with purpose is at the heart of our ethos.

MacKay Shields LLC is committed to creating a diverse employment environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status or any other characteristic protected pursuant to federal, state or local law.