• Arbitrage Rebate Analyst

    Job Locations US-TX-Dallas
    Req #
    Arbitrage Rebate
    Location Name
    (HTS) Dallas, TX - Renaissance Tower
    Company Name
  • Job Summary

    Arbitrage Rebate Background

    Arbitrage is the profit from buying in one market and selling in another.  Issuers of tax-exempt debt are required to rebate any profits to the Internal Revenue Service (“IRS”) when they borrow in the tax-exempt market and invest their unspent tax-exempt proceeds in taxable investments.  There are many exceptions that issuers can legitimately use to their advantage to keep some or all of these profits.  The purpose of Hilltop Securities Arbitrage Rebate Group is to calculate a tax-exempt debt issuer’s profit, minimize it by using these exceptions, and ensure that any resulting liability is paid to the U. S. Treasury on a timely basis.


    Position Summary


    The Rebate Analyst classification is an entry level position within Hilltop Securities Arbitrage Rebate Group.  Since the Arbitrage Rebate rules are a very unique and complex area of the tax law, Hilltop Securities will fully train successful candidates.


    Rebate Analysts will be responsible for the full preparation of lower risk calculations.  To challenge and train Rebate Analysts, they will work with more senior group members on higher risk calculations. 


    Rebate Analysts will be responsible for identifying and working to resolve methodology and approach issues that are identified in their preparation process under the guidance of more senior group members.


    Essential Functions

    Typical client assignments would include:

    • Performing Refunding Analysis and updating Final Maturities.
    • Preparing Data Requests.
    • Checking in Data. Compiling Additional Information Requirements.
    • Calculating Arbitrage Bond Yields.
    • Compiling Sources and Uses of Funds.
    • Assembling Data, Compiling and Analyzing Investment Cash Flows.
    • Performing Allocations and Un-Commingling Commingled Funds.
    • Coordinating with other Client Engagement Team members on Client Questions.
    • Performing a Self-Review on calculations prepared by the Rebate Analyst.
    • Building and Documenting the Issue Calculation File and Compiling a Review Copy of the Calculation.
    • Completing a Review Checklist and Compiling a Prelim Rebate Summary, Next Year’s Data Request and an Invoice.

    The Rebate Analyst will be assigned a list of clients.  Client calculation information will be updated based upon a predetermined interim deadline schedule.  The Rebate Analyst will be responsible for determining their own work schedule and providing status updates on their progress to more senior members of the Engagement Team. 

    Job Requirements

    Education and Experience Required


    The position requires a Bachelor in Business Administration with a minimum of 12 hours in accounting.  An accounting degree is a plus.  The position requires strong attention to detail and an inquisitive mind.  


    Rebate Analysts will need to possess a high degree of proficiency in Microsoft Word and Excel.  A working knowledge of Visual Basic macros and manipulation of ASC text files is a plus. 


    Additional relevant experience would include familiarity with bank reconciliations, general ledger transactions, or trustee accounting.

    About the Company

    At HilltopSecurities, we believe in building noble and collaborative relationships that enrich the financial future of individuals, businesses and communities. With an extensive portfolio of products, we deliver a broad range of investment banking and related financial services that help our clients achieve their definition of success.


    As a subsidiary of HilltopHoldings, which also encompasses PlainsCapital Bank, PrimeLending and National Lloyds Corporation, we have the financial strength and stability that has withstood the test of time. Our nationwide presence in 400 locations across 44 states provides our associates with extensive opportunities to grow their careers in a diverse organization that truly values relationship capital above all else.


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