SUPERVISING SECURITIES MARKET TRADER
Career Family: SECURITIES MARKET TRADER
Supervising Securities Market Trader 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.
How to get hired
- Hiring for Supervising Securities Market Trader 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.
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 general direction of a supervisory official in the Department of the Treasury, supervises work programs including purchase and sale of stocks, bonds, and other government/corporate securities; directs trading strategy and supervises market trading decisions for the trading section; assist in development of overall investment policy; supervises development/ maintenance of appropriate information concerning trading activity; does other related duties as required. Supervises staff and work activities. Prepares and signs official performance evaluations for subordinate staff.
Examples of work
Supervises purchase/sale of diverse financial products including US and international securities in a manner most advantageous to the state. Develops and coordinates implementation of the trading strategy for the purchase or sale of securities including the timing of transaction, amount of offering, price of security, and selection of broker. Analyzes and evaluates market/economic trends occurring in the United States and international financial markets and advises senior investment staff about probable market action of securities both over the near term and intermediate term. Develops recommendations to maintain quality of investment portfolios and improve rate of return under changing market conditions, both near term and intermediate term. Coordinates implementation of portfolio changes within the framework of specific programs approved by the Director. Monitors and assesses short term market performance of securities and rapid changes in market conditions, and develops recommendations concerning alternative trading strategies. Develops and maintains external communication with brokers, dealers, and other representatives of the financial community as sources of information on conditions in financial markets. Negotiates securities transaction commissions with Brokers/dealers and is responsible for payment of transaction commissions. Analyzes and evaluates reliability of sources of information in the course of developing trading strategy. Confers with senior investment staff on unusual or extraordinary events occurring in financial markets. Supervises the implementation of special investment programs including but not limited to the small capitalization program, roll program, and international investment program. May assume duties of the trading officer as conditions warrant. Manages work operations and/or functional programs, and has responsibility for employee evaluations and for effectively recommending the hiring, firing, promoting, demoting, and/or disciplining of employees. Develops and directs administration of trading section Policies/procedures and develops recommendations on overall investment policy. Confers with the trading officer and assists in planning implementation of policies established by the State Investment Council. Evaluates and develops recommendations on alternative financial products as investment options. Recommends swaps or strategies to take advantage of financial market inefficiencies. Communicates consequential market information to the director and senior investment staff. Confers with senior investment staff on profitable trading opportunities brought about by changing market conditions and develops trading strategies. Evaluates and selects brokers to execute proposed securities transactions. Monitors and makes on-the-spot evaluations of market performance of individual securities in the course of making trading decisions. Supervises transactions involving international securities. Evaluates impact of changes in financial markets and economic trends on investment policy. Identifies and interprets subtleties in market conditions and evaluates their impact on trading activities. Supervises collection of up-to-date data on common stocks on the approved list of the State Investment Council and on general stock market trends. Prepares for internal use summaries of group accounts participating in equity issues to be offered. Prepares and supervises preparation of detailed equity reports for use by the Equity Committee, and other executive reports and summaries of trading activity. Prepares and supervises distribution of official legal documents and records of purchases/sales of securities. Obtains the Deputy Attorney General's approval of legal papers covering purchases of securities. Prepares and supervises preparation of detailed correspondence in the course of official duties. Maintains and supervises maintenance of daily records of securities transactions, commission negotiations, and other correspondence, records, and files. Supervises the work operations and/or functional programs and has responsibility for effectively recommending the hiring, firing, promoting, demoting and/or disciplining of employees. 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 national/international institutional trading practices and methods of negotiating securities prices and commissions. Knowledge of brokerage firms engaged in the securities business including those located in New York, Philadelphia, and New Jersey. Knowledge of 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 on each other. Knowledge of current practices of investment banking and of procedures, rules, and regulations of the New York Stock Exchange, NASD, and SEC which affect trading activities. Knowledge of current methods and procedures of underwriting syndicates and joint accounts in both primary and secondary markets. Knowledge of various types of securities trading in the market place including, where applicable, their seniority, redemption features, sinking funds, prepayment provision, voting rights, preemptive rights, and status, together with the effect of these features on market prices. Knowledge of methods and techniques for evaluating alternative financial products as investments. Knowledge of strategies employed in carrying out securities trades under changing conditions in the financial markets. Knowledge of national/international financial markets and the impact of changes in market conditions on near term and intermediate term trading activity. Knowledge of internal/external sources of information on conditions in financial markets. Knowledge of terminology and processing requirements of foreign securities investment. Knowledge of principles, methods, and techniques of finance, accounting, and economics including econometric forecasting. Ability to comprehend, interpret, and apply laws of New Jersey and policies of the State Investment Council relating to the Purchase/sales 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, representatives of banks and investment houses, and with those groups/individuals engaged in the security business and/or concerned with work of the department. Ability to recognize, evaluate, and interpret profitable market trading opportunities, develop market trading strategies, and understand the effect of corporate, economic, and public events on market prices. Ability to develop formal recommendations concerning advisability of purchase/sale of particular securities. Ability to evaluate impact of rapidly changing market conditions on trading strategy. Ability to place orders for and to arrange for sale of securities. Ability to select brokers and negotiate commissions on securities. Ability to assign and instruct employees and supervise the performance of their work. Ability to analyze and evaluate national/international economic trends and their impact on trading activity. Ability to coordinate securities trading strategy. Ability to evaluate reliability of information from brokers, dealers, and other sources in the course of making trading decisions. Ability to prepare detailed, technical correspondence. Ability to supervise establishment and maintenance of records and files. Ability to supervise assigned staff and plan, organize, and implement projects within the unit. 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 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. Ten (10) 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 six (6) 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.