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Municipal Syndicate Operations Analyst

Job Description Summary

The Municipal Syndicate Operations Analyst supports the end-to-end operational execution of municipal bond new issues, including both competitive and negotiated underwritings. This role partners closely with underwriters, investment bankers, sales, trading, operations, bond counsel, municipal advisors, and syndicate members to ensure transactions are executed accurately, efficiently, and in compliance with regulatory requirements.

The ideal candidate has strong municipal underwriting or fixed income operations experience, excellent attention to detail, and the ability to manage multiple time-sensitive transactions. The role provides exposure to municipal capital markets, syndicate workflows, MSRB regulations, new issue processing, settlement, and transaction controls.

Key Responsibilities

• Support the day-to-day operations of the institutional municipal underwriting desk and manage transactions throughout the new issue lifecycle.
• Set up and maintain accurate deal information in Ipreo Municipal BookBuild, Bloomberg, Deals Database, and other underwriting systems.
• Support order periods, book building, allocations, pricing, and syndicate workflows for competitive and negotiated offerings.
• Order CUSIPs and ensure accuracy of deal terms, trade tickets, and new issue data.
• Coordinate good faith and closing wires and communicate required pre-sale notifications to internal stakeholders.
• Process MSRB G-11 syndicate settlements and private placement settlements.
• Monitor and complete required MSRB EMMA and Form G-32 filings within established deadlines.
• Reconcile transaction revenue, expenses, settlements, and other financial activity to ensure accurate deal closeout.
• Review and maintain deal documentation, including official statements, bond purchase agreements, issue price certificates, closing memos, and transaction checklists.
• Conduct continuing disclosure lookbacks for municipal issuers.
• Investigate and resolve trade, settlement, and deal-data discrepancies, escalating operational or regulatory issues when appropriate.
• Distribute offering materials for competitive and negotiated offerings.
• Partner with sales, trading, investment banking, and operations teams to ensure smooth transaction execution.
• Support risk, audit, and regulatory requests and maintain adherence to firm policies and procedures.
• Participate in special projects and process improvement initiatives as needed.

Required Qualifications

• 5+ years of experience in municipal underwriting operations, fixed income operations, broker-dealer operations, or a similar capital markets environment.
• Strong understanding of municipal securities and new issue workflows.
• Experience supporting transactions through pricing, allocation, settlement, and closeout.
• Strong attention to detail and ability to manage multiple transactions and deadlines in a fast-paced environment.
• Excellent analytical, problem-solving, organizational, and communication skills.
• Proficiency with Microsoft Excel and Microsoft Office.

Preferred Qualifications

• FINRA Series 52 or ability to obtain within 6 months of employment.
• Experience with municipal bonds, including tax-exempt and taxable securities.
• Knowledge of competitive and negotiated offerings, private placements, and syndicated transactions.
• Hands-on experience with Bloomberg TOMs, Ipreo Municipal BookBuild, EMMA, and other municipal underwriting or settlement platforms.
• Experience managing new issues across multiple fixed income asset classes, with a focus on municipal securities.
• Familiarity with MSRB regulations, including G-11 and G-32 requirements.
• Strong ability to build effective relationships with internal and external business partners.
• Demonstrated ability to adapt to changing priorities and work effectively under time-sensitive issuance deadlines.

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