Manager, Trading - CTP

About Working at Commerce

Building a career here is more than just steps on a ladder. It’s about helping people find financial safety and success, helping businesses thrive, and making sure people and their money are taken care of. And our commitment doesn’t stop there. Our culture is about our people, the ones in our communities and the ones that work with us.

Here, you’ll find opportunities to grow and learn, to connect with others, and build relationships with the people around you. You’ll have the space and resources to grow into the best version of yourself. Because our number one investment is you.

Creating an award-winning culture doesn't come easy. And after more than 155 years, we know Commerce Bank is only at its best when our people are. If this sounds interesting to you, keep reading and let’s talk.

Compensation Range

About This Job

The main purpose of this job is to provide oversight and risk management to fixed income trading personnel while maintaining at-risk inventory tailored to customers of Commercial Tradable Products (CTP).

Essential Functions

• Effectively manage risk while maintaining fixed income inventory to meet demands of customer base comprised of banks, corporations, public entities, registered investment advisors, and other middle market institutions

• Collaborate with trading and underwriting team to maximize trading desk revenue

• Perform periodic reviews to satisfy internal supervisory and regulatory requirements

• Align with solutions partners firm-wide to maximize efficiencies

• Assist in monitoring, interpreting, and implementing various regulatory & compliance rules into existing workflows and systems

• Assist various other Commerce Bank lines of business with regards to tax exempt & fixed income relative value

• Lead, mentor and motivate team members to implement the department strategy and manage department workflow with guidance on departmental projects/issues, and provide coaching and development opportunities appropriate to each direct report's individual needs

• Perform all necessary management functions, including hiring, evaluations, annual increase allocations and disciplinary action as required

• Communicate decisions, priorities and relevant information to team members effectively

• Support budget management, planning and expenditure

• Perform other duties as assigned

Knowledge, Skills & Abilities Required

• Strong knowledge of the fixed income industry, including knowledge of best practices

• Knowledge of MSRB and FINRA regulations, including TRACE and MSRB reporting

• Knowledge of economics, including behavior of interest rates relative to various market events

• Strong critical thinking skills with the ability to apply discretion and sound judgement to efficiently and effectively solve problems

• Ability to drive results and balance management of organizational risk and meeting goals of the business

• Strong leadership skills with ability to motivate team members and foster a positive team environment that gives way to collaboration and unified goals

• Outstanding interpersonal and relationship building skills with the ability to effectively communicate with all levels of the company, clearly expressing ideas and concepts both verbally and in writing

• Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values

• Intermediate level proficiency with Microsoft Word, Excel, Teams and Outlook

Education & Experience

• Bachelor’s degree or equivalent combination of education and experience required

• 10 years fixed income trading experience required

• 3 years leadership/supervisory experience required

• Series 7 and/or 52, 63, 53, and 24 licenses required

• Bloomberg and Bloomberg TOMS experience required

***For individuals applying, assigned and/or hired to work in areas with pay transparency requirements, Commerce is required by law to include a reasonable estimate of the compensation range for some roles. This compensation range is for the Manager, Trading - CTP job and contemplates a wide range of factors that are considered in making compensation decisions, including but not limited to location, skill sets, education, relevant experience and training, licensure and certifications, and other business and organizational needs. The disclosed range estimate has not been adjusted for any applicable differentials (geographic, bilingual, or shift) that could be associated with the position or where it is filled. At Commerce, it is not typical for an individual to be hired at or near the top of the range for their role, and compensation decisions are dependent on the facts and circumstances of each situation. A reasonable estimate of the current base pay is $151,500 to $180,500 annually. This position will be eligible for additional compensation through performance-based incentive plan(s) that will correspond to meeting performance goals. The candidate selected for this position may be eligible for the following employment benefits: employer sponsored health, dental, and vision insurance, 401(k), life insurance, paid vacation, and paid personal time. In addition, we offer career development, education assistance, and voluntary supplemental benefits. Click here to learn more.

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