The 10 Wall Street jobs that banks can’t seem to fill
While the job market on Wall Street is generally improving, there are still many more heads than there are seats, particularly when you’re talking about experienced professionals in New York. Applying for newly-listed positions makes sense but it has one main drawback: you’re likely to face plenty of competition. An alternative strategy could be to focus on older roles – ones that banks can’t seem to fill for whatever reason. Though you admittedly may end up applying to a position that isn’t a top priority, you’re also bound to run into more niche vacancies that have frustrated hiring managers dying for fresh resumes.
After scouring career sites of big banks, we’ve compiled a list of 10 active postings based in New York that have remained open for at least three months, though a few have been vacant for five. Some are rather obscure; others likely remain open because the bank needs more than one body to fill the gap.
Citi eyeing startup-minded fintech managers
Faced with stiff competition from tech startups, several big banks like Citi and J.P. Morgan have launched in-house fintech incubators where engineers work on building disruptive new products. Launched in 2015 with the help of employees poached from PayPal and Amazon, Citi Fintech has more of a startup feel – foosball table included. The fintech group has been looking for an engineering manager and a principal software engineer since March 13th.
Morgan Stanley is searching for a FICC quant
Morgan Stanley’s fixed income trading unit has done that well this year. The absence of a fixed income currencies and commodities (FICC) quant is unlikely to have been a deciding factor, but still. The division’s corporate credit group is looking for a VP-level “desk strategist” to build models and generate trading ideas. You’ll likely need a focused master’s degree and experience coding with Python, HTML5 and Q/KDB. They’ve been looking to fill the role since February 16th.
J.P. Morgan needs machine learning engineers
JPM is looking for several machine learning engineers to develop new products involving speech recognition, natural language processing and time series predictions. You’ll need extensive experience with machine learning APIs and at least a master’s degree in a quantitative discipline. They’re looking for an associate, a VP and an executive director – which may account for the holdup. That niche managerial role was posted on March 19.
Credit Suisse looking for a market liquidity researcher
Credit Suisse is seemingly struggling to fill an associate-level position within one of its quant funds. They’re in need of a researcher that can help develop new market liquidity signals focused on shorter-term equity and equity index futures strategies. Finding “new sources of alpha” would be helpful, as if it was that easy.
Deutsche Bank requires help with its corporate governance
Deutsche Bank has just begun its latest revamp that has resulted in thousands of job cuts, with a particular focus on the U.S. That said, anyone whose work touches risk and controls is likely safe – the bank failed its June stress test and has been taking heat from U.S. regulators ever since. Deutsche Bank is looking for someone to perform quant modeling and data analysis of market and liquidity risk and macro-economic variables for stress testing, according to a posting listed on May 21.
Bank of America eyeing credit officers
The three oldest job postings at Bank of America in New York share some similarities. BAML is looking for a senior credit products officer within its real estate banking division; a structured credit salesman with a Series 7 and 63 credential; and a senior leasing credit officer with experience in energy financing.
UBS wants a GIG banker
With a larger pool of candidates, traditional investment banking roles tend not to sit on the shelf as long as more specialized positions. However, UBS seems to be struggling to find an investment banker to work within its Global Industrials Group in New York. The posting doesn’t mention the level of seniority, but the responsibilities include managing junior bankers so they’re likely looking for a VP or possibly an MD.
Morgan Stanley searching for a VP in risk management
Morgan Stanley has been looking to hire a senior complex risk officer since the end of April. You’ll need an active Series 3, 7, 8 (or 9 and 10), and 63, 65 (or 66) to go along with several years of experience working in risk, compliance or legal.
BAML needs mortgage bankers
The financial crisis wiped out thousands of mortgage brokers, yet Bank of America is still searching for some new blood. In late March, the bank posted several roles for residential mortgage lending officers that remain vacant.
UBS needs help catering to big-wigs
Some of the longest-standing job postings at UBS in New York are for client service roles within the firm’s huge wealth management unit. The main responsibilities include providing operational and administrative support for financial advisors, though it seems they’re looking for more than administrative assistants. Series 7 and 66 licenses are preferred. The most-dated posting is rather niche: a client service advisor fluent in spoken and written Cantonese and Mandarin. Morgan Stanley is also looking to fill similar positions they refer to as regional administrators.
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