SECURITIES MARKET TRADER 2
Career Family: SECURITIES MARKET TRADER
Securities Market Trader 2 is a New Jersey state civil service title.
It lists a bachelor's degree as the baseline, with an experience-based path open to those who do not hold the degree. State payroll lists a single employee in the title, at Treasury.
How to get hired
- Hiring for Securities Market Trader 2 follows standard NJ Civil Service procedures. Check the official specification and the NJ CSC jobs portal for the current process.
Read the official specification at NJ Civil Service Commission.
Who employs this title
State payroll records show 1 person working under this title. The median actual salary is $116,402. The agencies employing the most are:
- Treasury (1)
Counts from NJ YourMoney agency payroll. See statewide workforce analytics.
Official job specification
The text below is the official specification published by the New Jersey Civil Service Commission. The plain-language summary and analysis above are derived from it by NJ Civil Service Navigator.
Definition
Under the limited supervision of the Supervising Securities Market Trader, or other supervisory official in the Division of Investments, Department of the Treasury, takes the lead in the purchase and sale of certificates of deposit, commercial paper, short-term, and long-term obligations of the United States Government Agencies, and other government corporate securities and the negotiation of repurchase agreements in a manner most advantageous to the State. Determines the appropriate timing, size and price for securities transactions, selects the appropriate broker, and negotiates the commission for transaction. Maintains records of transactions and commissions, as required; does other related duties as required.
Examples of work
Individually or as a member of a trading team: Under general direction, places orders for the purchase of securities, and arranges the sale of securities, including but not limited to equities, certificates of deposit, commercial paper, and United States government/government agency securities; and executes repurchase agreements in a manner most advantageous to the state. Plans the trading strategy for the purchase or sale of assigned securities, including the timing of transaction, size of offering, price of security and choice of broker. Analyzes national economic trends and trends occurring in United States financial markets and advises senior trading section staff regarding the probable market action of securities both over the short- term and intermediate term. Assesses and makes recommendations on alternative securities transaction options and strategies and confers with senior trading section staff. Executes portfolio changes designed to maintain the quality of the investment portfolios and improve the rates of return under changing market conditions, both short term and intermediate term. Assists in developing plans for the implementation of investment policies established by the State Investment Council. Assists in carrying out special investment programs, including, but not limited to, the small capitalization program, the roll program, and the international investment program. Develops and maintains external communication with brokers, dealers and other representatives of the financial community, as sources of information on conditions in United States financial markets. Evaluates and assesses the relative attractiveness of alternative investment options. Monitors and evaluates the market performance of securities and changes in market conditions, both short term, and intermediate term to identify profitable trading opportunities. Assists in developing swaps or strategies to take advantage of financial market inefficiencies. Negotiates securities transaction commissions with brokers and dealers. Analyzes and evaluates the reliability of sources of information in the course of executing securities transactions. Monitors and makes on-the-spot evaluations and interpretations of the short-term market performance of individual securities in the course of making trading decisions. Assists in executing international securities transactions. Communicates consequential market information to the director and to senior staff members. As required, coordinates securities transactions with senior trading section staff. As directed, maintains up-to-date data on common stocks on the approved list of the State Investment Council and on general stocks market trends. Maintains files of schedules of new issues. As required, prepares for the Division's use summaries of group accounts participating in equity issues to be offered. Prepares detailed equity reports for use by the Equity Committee. Prepares and distributes official legal documents and records of securities transactions. Prepares detailed correspondence to corporate officers regarding securities representing current or potential investments by state investment funds. Prepares updates the schedule of securities transaction commissions, for use by the Director, Deputy Director and the State Investment Council. As directed, obtains the Deputy Attorney General's approval of legal papers covering the purchase of securities. Prepares detailed correspondence in the course of official duties. Maintains extensive daily records of securities transactions, and other essential correspondence, records, and files. Will be required to learn to utilize various types of electronic and/or manual recording and information systems used by the agency, office, or related units.
License
Appointees will be required to possess a driver's license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
Knowledge, skills and abilities
Knowledge of institutional trading practices and methods of negotiating securities prices and commissions. Knowledge of the brokerage firms engaged in the securities business, including those located in New York, Philadelphia, and New Jersey. Knowledge of the preparation, analysis, and interpretation of varied types of financial statements, including profit and loss and balance sheet statements. Knowledge of interest rates, comparative, and relative yields, maturities, spreads, bid, and ask price and current terminology peculiar to investment practices. Knowledge of diverse financial instruments, including, but not limited to stocks, bonds, options, futures, money market instruments, mortgages, international currency, hedging, and their interaction with each other. Knowledge of the various types of securities in the market place, including, where applicable; their seniority, redemption features, sinking funds, prepayment provisions, voting rights, preemptive rights, and tax status, together with the effect of these features on market prices. Knowledge of the current practices of investment banking and of the procedures, rules and regulations of the New York Stock Exchange, the NASD and SEC which affect trading activities. Knowledge of the current methods and procedures of underwriting syndicates and joint accounts in both primary and secondary markets. Knowledge of internal and external source of information on financial conditions. Knowledge of performance measurement and performance assessment methods, techniques, and requirements. Knowledge of national and international financial markets and the impact of changes in market conditions on short term and intermediate term investment activity. Knowledge of the terminology and processing requirements involved in foreign securities investment. Knowledge of the impact of global financial markets on United State trading activity. Ability to comprehend, interpret, and apply the laws of New Jersey and the policies of the State Investment Council relating to the purchase and sale of securities. Ability to review, analyze, and appraise securities of varied types and information concerning stock market transactions, including offerings, bids, and other data. Ability to establish and maintain cooperative working relationships with brokers, the representatives of banks and investments houses, and with those groups and individuals engaged in the security business and/or concerned with the work of the Division of Investments. Ability to recognize market trading opportunities and recommend market trading options and strategies. Ability to identify sources of information and compile data on the market performance of particular securities. Ability to monitor and evaluate the short term market performance of particular securities. Ability to place orders for and to arrange for sale of securities. Ability to identify source of information and compile data on the market performance of particular securities. Ability to monitor the short term market performance of particular securities. Ability to assess the impact of global financial activity on United States markets. Ability to analyze and evaluate the reliability of sources of information in the course of executing securities transactions. Ability to evaluate the impact of changing market conditions on trading strategy. Ability to place orders for and to arrange for the sale of United States and international securities. Ability to negotiate securities transaction commissions with brokers and dealers. Ability to compare the relative attractiveness of various types of securities as alternative investments. Ability to maintain accurate records of securities transactions, including the names of vendors, prices paid, the particular accounts involved, yields obtained, and all other attendant detail. Ability to prepare detailed and technical correspondence. Ability to establish and maintain essential records and files. Ability to utilize various types of electronic and/or manual recording and information systems used by the agency, office, or related units. Ability to read, write, speak, understand, and communicate in English sufficiently to perform the duties of this position. American Sign Language or Braille may also be considered as acceptable forms of communication. Persons with mental or physical disabilities are eligible as long as they can perform essential functions of the job with or without reasonable accommodation. If the accommodation cannot be made because it would cause the employer undue hardship, such persons may not be eligible.
Note
The examples of work for this title are for illustrative purposes only. A particular position using this title may not perform all duties listed in this job specification. Conversely, all duties performed on the job may not be listed. Applicants must meet one of the following or a combination of both experience and education. Thirty (30) semester hour credits are equal to one (1) year of relevant experience. Seven (7) years of professional experience with a public or private organization engaged in institutional activity as a practicing securities market trader involving and negotiating transactions of financial instruments, which shall have been within the past eight (8) year period, including or supplemented by eighteen (18) credit hours of the following subjects: Accounting, six (6) credit hours; plus twelve (12) additional credit hours of any combination of additional courses in Finance; Money, Credit, and Banking, Statistics, Economics, or Investments. OR Possession of a bachelor's degree from an accredited college or university, including or supplemented by eighteen (18) credit hours of the following subjects: Accounting, six (6) credit hours; plus twelve (12) additional credit hours of any combination of additional courses in Finance; Money, Credit, and Banking, Statistics, Economics, or Investments; and three (3) years of the above-mentioned professional experience. Experience as a registered representative for an individual is not acceptable for this position. Experience involving Retail Investment and Retail Trading will not be acceptable. "Professional experience" refers to work that is creative, analytical, evaluative, and interpretive; requires a range and depth of specialized knowledge of the profession's principles, concepts, theories, and practices; and is performed with the authority to act according to one's own judgment and make accurate and informed decisions.