What are the responsibilities and job description for the Underwriter/Associate Broker position at Crews & Associates?
Brief Description
Generally, The Underwriting Associate Broker helps the Underwriters as they act as the "bridge" between Public Finance and Sales when Crews is pricing a new negotiated bond issue with the goal of providing efficient pricing and structure for our borrowing clients and investors. Furthermore, the Underwriting Associate Broker helps the Underwriter as they pursue and develop Crews' Competitive underwriting business by buying competitively bid bond issues that our customers need, and at prices they are willing to pay, while managing the risk to Crews.
Requirements
Required License:
SIE, 52, Series 7
Candidate must be licensed or be willing to study and pass examine with in 6 months.
Summary
Primary Role - Competitive Underwriting
Daily Support
Support Negotiated Underwriting/Private Placements
Generally, The Underwriting Associate Broker helps the Underwriters as they act as the "bridge" between Public Finance and Sales when Crews is pricing a new negotiated bond issue with the goal of providing efficient pricing and structure for our borrowing clients and investors. Furthermore, the Underwriting Associate Broker helps the Underwriter as they pursue and develop Crews' Competitive underwriting business by buying competitively bid bond issues that our customers need, and at prices they are willing to pay, while managing the risk to Crews.
Requirements
Required License:
SIE, 52, Series 7
Candidate must be licensed or be willing to study and pass examine with in 6 months.
Summary
Primary Role - Competitive Underwriting
Daily Support
- Update open syndicate balances first thing in the morning and throughout the day * Look at each scale to find value for traders/salesman
- Disseminate preliminary/final pricing scales to the sales floor
- Monitor orders from the sales floor on competitive issues in IPREO
- Write tickets on allocations from competitive deals
- Process DTC, Bloomberg and IPREO on any deals where Crews is Senior Manager
- Compile files for any competitive deals where Crews is Senior Manager
- Answer phone for Underwriting Department
- Compile competitive calendar for the following week
- Process Profit/Loss for competitive deals
- Assist in preparing deals that Crews is Senior Manager for the following week
- Help calculate expense for competitive deals
- Help analysis NOS
- Help write competitive scales by finding comparable scales
- Help write credit notes
- Finish processing files created for the week
- Create weekly stats reports to distribute
Support Negotiated Underwriting/Private Placements
- Distribute documents and deal information to the appropriate parties (Sales Floor, Bloomberg, IPREO)
- Responsible for all the attachments, structure, price talk, updated prelims, final prelims, debt service schedule, Cusips.
- Order Period - Monitor in IPREO
- Allotments -- Support the allotment process and communicate results to the floor
- Make sure all tickets are written correctly
- Distribute the MSRB wire
- Compare Group Net Money with Banker/Analyst numbers
- Send Group net & Management fee wires
- Closeout -- make sure all money is in and allocated properly
- Receive the MSRB wire
- Verify & Distribute concession and Group Net Money