Trading Assistant Job Description

Trading Assistant’s work with hedge funds or trading groups to trade stocks and increase the value of their assigned stock portfolios. They often work in a team with Portfolio Managers, Researchers, operations staff and Legal groups to ensure their clients’ portfolios continue to grow in value.

The largest firms compete on a global scale, requiring some employees to work night shift (if managing trades in Asia, for example), while others work day or swing shifts, depending on the regions in which their global trades focus. Demand for Trading Assistants is expected to rise by 4 percent through 2022, the Bureau of Labor and Statistics reports, creating 1,840 new positions annually during that period.

 

Trading Assistant Duties and Responsibilities 

Trading Assistants support the efforts of the firm’s more experienced stock brokers. This might require clerical services, financial assessments, answering telephone calls and recording financial transactions. Here are additional duties and responsibilities of Trading Assistants, pulled from several job postings.

Coordinate Between Customers and Coworkers

Trading Assistants often take calls from customers, answering questions and referring more complicated issues to the more experienced staff members. The may include reviewing the transactions on a customer’s account to ensure financial accuracy.

Assist with Trade Executions

Trading Assistants sometimes step in when account executives are absent from their office, to oversee a portion of the days stock trades and transactions. This will vary depending on each firm’s policy. Gaining experience in this capacity can also qualify a Trading Assistant for a promotion and additional responsibilities.

Monitor the Market

Trading Assistants also keep an eye on the market as a whole, in order to keep the rest of the firm informed should something in the market suddenly shift. This includes coordinating transactions with portfolio managers and investment teams with regards to their trade ideas, information flow and data requests.

Clerical Services

Trading Assistants support the efforts of the more experienced staff members. This could include distributing mail to the staff, filing records or documents into the system, preparing documents for contracts or legal records, and preparing research or technical reports.

Compute Total Holdings

Trading Assistants are often charged with adding up the interest, dividends, brokerage fees, transfer taxes or commissions and sending the correct payments to customers. This includes summarizing the daily transactions and earnings into reports for each client’s account.

 

Trading Assistant Skills

The Trading Assistant’s clerical services require attention to detail and the ability to manage office issues in a fast-paced environment. They also maintain top interpersonal skills, enabling them to meet the needs of their clients and co-workers. On top of these general skills and personality traits, employers are looking for Trading Assistants with the follow skills.

Core skills: Based on job listings we looked at, employers want Trading Assistant with these core skills. If you want to work as a Trading Assistant, focus on the following.

  • Extensive experience with advanced spreadsheet programs such as Advanced Excel, VBA and SQL
  • Understanding of economics and accounting, with a working knowledge of economic and accounting principles and practices, banking, financial markets and working with financial information
  • Strong mathematical skills, including familiarity with algebra, arithmetic, geometry, statistics, calculous and how to apply them to financial markets
  • Customer service skills, including meeting customer needs, working with standard office machinery, offering quality standards of service and evaluating customer satisfaction in a timely and professional manner, despite the fast-paced environment.

Advanced skills: While most employers did not require the following skills, multiple job listings included them as preferred. Add these to your Trading Assistant toolbox and broaden your career options.

  • Previous experience in bank, credit or global trade or brokerage focused hedge funds
  • Previous academic excellence in the fields of mathematics, economics, the physical sciences or engineering
  • Experienced with global capital markets and credit derivatives

 

Trading Assistant Resources

After searching the web, we comprised this list of various resources for anyone pursuing a career as a Trading Assistant. Whether you’re looking for an experienced professional to interview, additional stock trading information to learn from or additional industry groups to join, check the list below.

On the Web

MergersAndInquisitions.com – This website offers a variety of services to people looking to start their careers in finance related positions. This includes information from actual professionals working in every aspect of finance, opportunities to improve your resume, network with potential employers and get one-on-one help to break into the market. Whatever your specific interests, make sure to swing by this site for an overview of your intended career path.

Careers In Business – This website is another valuable resource for the student of finance, trying to decide on what portion of this massive system they wish to specialize. This includes free information on positions in finance, marketing, accounting and business.

Forbes – This is one of the leading magazines in business and finance. Forbes includes articles, interviews and videos designed to inform, educate and empower people working in finance or looking to increase their own understanding of business, trade and financial systems.

On LinkedIn

Traders Log – This group focuses on stock market, futures and forex trading. It’s designed to give professional traders and market analysts the chance to network among themselves, while also opening similar opportunities to anyone looking to learn about financial markets.

Stock Brokers Forum – This site is specifically designed to help brokers and professionals who manage financial projects. They form a community to hear each other’s views, experiences and general observations. This is a clear opportunity to gain advice and perspective from someone already working in the stock and trading markets.

Top Brokers – This site forms a worldwide group of top brokers. Their focuses range from hedge funds to mortgage brokers, banking, real estate, stocks, investments and business. Any one of these professionals can provide valuable information and advice toward building a career in finance.

Industry Groups

SFIG – The Structured Finance Industry Group is a business website dedicated to educating people about securitization, structured finance and related markets. They also advocate for the regulatory, legal and political matters affecting the industry. They also have a directory for job openings, a library for independent research and the option to become a member of their site for specific services.

EliteTrader – An information hub for all things related to finance and business. Includes an open forum, member services, and a detailed list of social networks, websites and reports for anyone focused in trading, business journals, stocks, taxes, accounting, risk management, options, ETFs, economics and Wall Street news.

Interactive Brokers – This site empowers students of finance with a variety of educational and trading options, such as webinars, short videos, a Traders’ Glossary and more. They even offer a Mobile Trading Assistant app for your phone or tablet, to automatically notify you when the market shifts your way.

Books

Stock Trading for Beginners – This book has a complete overview of the stock market, and how a beginning trader and bulk up his or her skills by using the proper platform, analyzing data to your benefit, knowing how to trade stocks effectively, and how to best utilize the tools already provided by the market at large.

How to Get a Job and Succeed as a Stock Broker – This book takes beginners, with a basic understanding of stock trading, and focuses on how to go about getting experience in the field. They employ a 12-step process to improving the specific skills potential employers are looking for.

The Winner’s Circle – This book collects the stories of ten of America’s most successful stock brokers. They discuss selling strategies, investment tactics, personal ethics and prospecting approaches. Hone your stock marketing skills and take your career in finance to the next level.

 

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