XVA Trader, Derivatives

Desjardins Group; Montreal (administrative region); On-site; CAD 150,000 - 230,000; Full time

Benefits offered by this job

Competitive salary and annual bonus

Defined benefit pension plan

Group insurance including telemedicine

Telework equipment reimbursement

4 weeks flexible vacation starting in

Job summary

Desjardins Group's Capital Markets division seeks a senior quantitative professional to lead XVA pricing and risk management for OTC derivatives based in Montréal or Toronto. The role involves pricing CVA, FVA, ColVA, and MVA, managing funding and capital impacts, and designing hedges to optimize risk-return.

You will collaborate with trading, risk, finance, and development teams, contribute to governance and validation, and stay ahead of regulatory changes.

Qualifications

• Master's degree in a quantitative field.
• 5–10 years of relevant experience in derivatives or XVA.
• Experience with the Murex platform.
• CFA, FRM, CQF, or equivalent certifications preferred.
• Strong French and English communication skills.
• Advanced knowledge of OTC derivatives valuation and XVA pricing (CVA, FVA, ColVA, MVA).
• Knowledge of SA-CCR and BA-CVA/SA-CVA regulatory frameworks.
• Proficiency in Python, NumPy, SciPy; SQL Server and Pandas.
• Ability to design hedging strategies and risk management solutions.
• Governance-focused approach to risk and capital management.

Responsibilities

• Price and analyze valuation adjustments for OTC derivatives (CVA, FVA, ColVA, MVA).
• Assess economic impact of new transactions considering risk and capital.
• Provide XVA pricing to sales and support structuring decisions.
• Design hedging strategies to reduce XVA volatility.
• Collaborate with trading, risk, finance, and development teams.
• Contribute to governance, validation, and regulatory compliance.

Skills

XVA pricing

CVA/FVA pricing

Risk management

Quantitative analysis

French & English communication

Education

Master's degree in Financial Engineering, Mathematics, Physics, Statistics, Economics, Computer Science

Tools

Murex

Python

NumPy

SciPy

Pandas

SQL Server

Job description

As part of the continued growth of its over-the-counter (OTC) derivatives business, Desjardins Capital Markets is seeking a highly motivated professional with a passion for financial markets, derivatives, risk management, and innovative quantitative solutions. Based in either Montréal or Toronto, you will contribute to the development and management of XVA activities related to interest rate, foreign exchange and equity derivatives portfolios. Depending on your experience and background, this position may be offered at either the Vice President or Director level. In this role, you will be responsible for the pricing and management of valuation adjustments associated with counterparty credit risk, funding, collateral, and regulatory capital for OTC derivatives transactions. You will also play a key role in designing and executing hedging strategies aimed at optimizing the risk-return profile of the XVA portfolio. You will work closely with trading, sales, risk management, finance, and quantitative development teams to support business growth while maintaining the highest standards of governance, risk management, and regulatory compliance. This role offers a unique opportunity to contribute to the evolution of a growing derivatives platform, influence strategic decisions related to risk, capital, and funding, and work at the intersection of financial markets, quantitative analytics, and technological innovation.

Pricing and Transaction Support

• Price and analyze valuation adjustments applicable to derivatives transactions, including CVA, FVA, ColVA, MVA, and capital-related adjustments.
• Assess the economic impact of new transactions, considering counterparty credit risk, funding costs, collateral, initial margin, liquidity, and regulatory capital requirements.
• Provide timely XVA pricing to sales teams and advise stakeholders on appropriate transaction structuring solutions.
• Participate in discussions with clients and counterparties when XVA expertise is required.

Risk Management and Portfolio Optimization

• Manage risks associated with XVA portfolios, including market and credit risks.
• Analyze sensitivities, trading results (P&L), and risk exposures to identify key performance drivers.
• Design and implement hedging strategies aimed at reducing the volatility of valuation adjustments.
• Contribute to the management of credit spread risk, jump-to-default risk, and wrong-way risk.

Capital, Funding, and Collateral Management

• Analyze the impact of derivatives portfolios on funding, liquidity, initial margin, and regulatory capital.
• Collaborate with Treasury, Finance, and Risk Management teams to optimize regulatory capital, funding costs, and collateral utilization.
• Contribute to portfolio optimization initiatives, including compression, novation, clearing, and collateralization strategies.
• Support the development of methodologies that appropriately incorporate funding, capital, and collateral costs into transaction pricing.

Models, Analytics, and Governance

• Participate in the development and enhancement of models, methodologies, and tools used for XVA pricing and risk management.
• Partner with quantitative and technology teams to improve pricing, simulation, hedging, and reporting capabilities.
• Contribute to governance, validation, and continuous improvement initiatives supporting the XVA desk.
• Stay current on regulatory developments, market best practices, and innovations related to valuation adjustments, counterparty risk, and regulatory capital.

What we offer

• Competitive salary and annual bonus
• 4 weeks of flexible vacation starting in the first year
• Defined benefit pension plan that provides predictable, stable income throughout retirement
• Group insurance including telemedicine
• Reimbursement of health and wellness expenses and telework equipment
• Benefits apply based on eligibility criteria.

What you bring to the table

• Master's degree in Financial Engineering, Mathematics, Physics, Statistics, Economics, Computer Science, or another relevant quantitative discipline
• A minimum of five to ten years of relevant experience
• Please note that other combinations of qualifications and relevant experience may be considered
• Experience with the Murex platform
• Professional certification such as CFA, FRM, PRM, CQF, or equivalent
• Strong communication skills in both French and English, both oral and written due to the nature of the duties or work tools or because the position involves interactions with english-speaking partners, members and/or clients
• Strong knowledge of OTC derivatives valuation and pricing
• Advanced knowledge of XVA pricing methodologies, including CVA, FVA, KVA, ColVA, and MVA
• Knowledge of regulatory capital frameworks, including SA-CCR and BA-CVA/SA-CVA
• Advanced knowledge of statistics, numerical methods, and simulation models
• Knowledge of artificial intelligence tools and the ability to use them effectively and responsibly to enhance data analysis, process automation, and productivity
• Proficiency in quantitative programming tools and libraries such as Python, NumPy, and SciPy
• Knowledge with data management and analytics tools, including SQL Server and Pandas
• Action oriented, Complexity, Customer Focus, Decision quality, Differences, Nimble learning, Resilient, Strategic mindset Equity, Diversity, Inclusion and Accessibility

Equity, Diversity, Inclusion and Accessibility At Desjardins, we believe in equity, diversity and inclusion. We're committed to welcoming, respecting and valuing people for who they are as individuals, learning from their differences, embracing their uniqueness, and providing a positive workplace for all. At Desjardins, we have zero tolerance for discrimination of any kind. We believe our teams should reflect the diversity of the members, clients and communities we serve. If there's something we can do to help make the recruitment process or the job you're applying for more accessible, let us know. We can provide accommodations at any stage in the recruitment process. Just ask!

Desjardins Group is the largest cooperative financial group in North America. We're the choice for over 52,000 employees and we're named one of Canada's top employers by Mediacorp and Forbes. We offer a full range of financial products and services and share our expertise in personal services, business services, wealth management, life and health insurance, and property and casualty insurance. Pursuing a career at Desjardins means being part of an organization that puts people first. The jobs you found aren't the right fit? Introduce yourself: we want to know you!