Trader – G10 NonEuro Rates

Job Description

Trader – G10 Non-Euro RatesSalary: £90,000 - £100,000 plus bonusType: PermanentLocation: City of LondonOur client is one of the largest banking groups in Europe. Built on its strong cooperative and mutual roots, with more than 140,000 employees and a presence in 49 countries, they are a responsible and responsive bank serving 52 million customers globally. They are seeking a junior to mid-level Trader who will be responsible for trading within authorised trading limits on the G10 Non-Euro Rates Trading desk, i.e. the risk parameters and designated currency and product limits, in order to maximise revenues within pre-established limits and objectives.Trades are predominantly in AUD, CAD, CHF, DKK, GBP, JPY, NOK, NZD, SEK, and USD for trading (KRW for hedging purpose) but the trader will be expected to trade other books in support if required. Products will include Interest Rate Swaps, Cross Currency and Fx Swap for trading plus Government Bonds, FRA’s, Futures, Repo and MM products, FX markets for hedging purpose.Main Responsibilities:Strategy and Business Planning:• Markets make for customers in G10 Non-Euro Rates Trading.• Execute transactions in accordance with established risk management procedures and risk parameters.• Formulate trading strategy and relate these to market opportunities.• Be aware of all economic and financial data likely to affect the market and keep updated on market changes.• Take views on future market developments and advise sales accordingly.• Provide product pricing for both new products as well as specific client transactions. Pricing must ensure that the Bank is adequately compensated for the level of principal risk and the amount of balance sheet it dedicates to specific transactions.• Keep abreast of the markets by reading the financial press and available economic research.• Input all executed trades directly into the Front Office Systems in a timely manner Risk:• In conjunction with the Head of G10 Non-Euro Rates Trading London, establish overall risk parameters.• Manage and hedge the overall risk of the G10 Non-Euro Rates trading portfolio on an intra and inter day basis.• Ensure adherence with regard to position and risk limits.o Ensure adherence to the overall risk limits, including both credit and market risk, as set for G10 Non-Euro Rates Trading.o Ensure clear and where relevant documented delegation of these limits across the various trading books as appropriate.o Ensure adequate systems and information flow to allow monitoring and management of these risks.o Ensure that other categories of risk to which the Company is exposed (e.g. legal, operational, and reputational risk) are identified to the extent possible within the trading function. Such risks should then be delegated, documented and managed as appropriate within acceptable levels.• Risks manage the trading book for which responsible. Maintain such risks within the risk limits delegated by Market Risk together with any additional limits imposed by G10 Non-Euro Rates Trading.Systems Used:o Internal - Outlook, Office, Intranet, GCE, Calisto, Orchestrade, Jetstream, Markitwire…o External - Bloomberg, Reuters, TradeWeb…Key Requirements:• 2-5 years’ experience in financial products related trading/ risk management activities.• Experience of FX swap or cross currency trading.• Team oriented.• Excellent communication skills and able to coordinate effectively with Sales, Structurers and Quants.• Ability to think quickly, make decisions using good judgement and prioritise in busy trading situations.• Ability to remain calm under pressure.• IT literate.• Strong numerical, analytical and spreadsheet skills.Reed Specialist Recruitment Limited is an employment agency and employment business