Senior Interest Rate Volatility Trader

Empowering Africa’s tomorrow, together one story at a time.
- With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

Responsible for effecting vanilla and exotic derivative transactions related to financial derivative instruments, e.g. forward rate agreements, caps, floors, interest rate swaps, cross currency swaps/options, bond options and currency derivatives. Experienced Trader with Bachelor's (preferably post-graduate) degree in Mathematics, Statistics, Economics, Finance or other quantitative field ,CFA Charter holder advantageous. Minimum of 7 years experience in fixed income derivatives trading or structuring with strong analytical ability or technical concentration including analysis of financial markets.

Job Description

Trading

Manage Interest Rate Options portfolio for Non Linear Derivatives desk, including client market-making, risk management and reconciling profit and loss on day to day basis.
- Responsible for effecting vanilla and exotic derivative transactions related to financial derivative instruments, e.g. forward rate agreements, interest rate swaps, cross currency swaps/options, bond options and currency derivatives.
- Build financial models to optimize hedging strategy, including hedging the duration of the portfolio, convexity and volatility exposure.
- Originate trade ideas and work with various stakeholders to generate profitable trading strategies.
- Execute derivative and securities trades with internal and external counterparties.
- Ensure that financial transactions, policies and procedures meet corporate objectives and regulatory requirements inclusive of related risk and exposure.
- Keep abreast of developments in derivative instruments, legislation and statutory requirements.
- Anticipate market developments and identify trade opportunities with risk-adjusted superior returns.

Research
- Investigate and embark on a continuous market scanning of Local and International peers to identify and stay abreast of market trends and activities to inform opportunities for new or enhanced products and services.
- Initiate market research relating to the product alignment to client needs, competitors and future trends to ensure sustained profitability for Absa and competitive advantage.
- Engage in networking activities, e.g. attending relevant industry conferences, to stay abreast of changes in the industry, aligning portfolio specific processes, product offering and procedures to absorb the impact of change.
- Formulate and influence product strategies based on research findings i.e. Investigate other appropriate distribution strategies which could form part of the distribution strategy.

Stakeholder engagement
- Confirms trades with relevant parties. Liaises with brokers and fund managers and supervise less experienced dealers/traders.
- Contribute effectively, efficiently and professionally on all product related activities with all stakeholders within Absa Group while assessing opportunities to develop new products.
- Effectively communicate developments within areas of activity to all relevant internal and external stakeholders.
- Develop and maintain good working relationships with internal and external business partners, including but not limited to all delivery channels used, Group Marketing, Group Communications, other product providers etc.
- Liaise with all business partners to ensure all management information they require is provided to them timeously

Education
- Absa Bank Limited reserves the right not to make an appointment to the post as advertised_