Executive Director - Structured Credit Trader

Selby Jennings; Paris; Sur place; EUR 100 000 - 125 000; Plein temps

Résumé du poste

A leading financial services company is seeking an experienced Structured Credit Trader to lead risk-taking and market-making for Credit-Linked Notes and tranches. The role will involve collaborating with various teams to deliver client-centric solutions while ensuring regulatory compliance. The ideal candidate should possess over 10 years in structured credit trading and a strong quantitative skill set, including proficiency in Python and VBA. Competitive compensation and leadership opportunities are offered.

Prestations

Competitive base salary

Discretionary bonus

Health coverage

Pension

Relocation assistance if applicable

Qualifications

• 10+ years of front-office experience in structured credit trading.
• Deep product knowledge of CDS, index tranches, and repack SPVs.
• Advanced quantitative skills including credit curve construction and stochastic modelling.

Responsabilités

• Lead risk-taking, pricing, and market-making across structured credit products.
• Drive revenues through proactive engagement with financial institutions.
• Ensure compliance with regulatory requirements and best execution standards.

Connaissances

Commercial instinct & client orientation

Risk-first mindset

Execution excellence

Communication

Team leadership

Languages (English and French)

Formation

Bachelor's / Master's in Finance, Mathematics, Engineering or related field

Outils

Python

VBA

Description du poste

Executive Director - Structured Credit Trader (CLNs, Repacks & Tranches)

Location: Paris, France

Department: Global Markets - Credit Trading / Structured Credit

Role Summary

We are seeking an experienced Structured Credit Trader to lead risk-taking, pricing, and market-making across Credit-Linked Notes (CLNs), repacks, and tranches within our European platform. The role sits on the front office trading desk in Paris and will cover flow and bespoke transactions across investment-grade and high-yield corporates, financials, sovereigns, and indices (including iTraxx), working closely with Structuring, Sales, Syndicate, Risk, Legal, and Operations to deliver client-centric solutions with disciplined risk management and strong commercial outcomes.

Key Responsibilities

Trading & Risk Management

• Run the risk on CLNs, repacks, tranche books (single-name and index tranches), managing delta, credit spread, correlation, basis, convexity, optionalities, and XVA (CVA / DVA / FVA / MVA) impacts.
• Execute primary and secondary trading; provide two-way markets, axes, and inventory management in line with risk appetite and limits.
• Own daily P&L attribution; monitor VaR, SVaR, sensitivities (CS01, vega / vol-of-vol for options embedded in structures), stress scenarios, and tail-risk exposures.
• Optimize funding & liquidity (including repo, collateral, haircuts), manage hedging (CDS, indices, options, TRS, bonds), and drive capital efficiency (RWAs / Leverage).

Pricing, Origination & Execution

• Price bespoke CLNs (single-name, baskets, first-to-default, recovery locks), repack notes (structured / funded solutions), and index / single-name tranches (including equity, mezzanine, and senior tranches).
• Partner with Structuring to design client solutions (yield enhancement, capital relief, risk transfer, ESG overlays, callable features).
• Lead end-to-end execution: term sheet negotiation, documentation (incl. repack SPV mechanics), hedging, booking, and post-trade lifecycle.

Client Coverage & Commercials

• Drive revenues through proactive engagement with private banks, insurers, asset managers, pension funds, banks / treasury, and hedge funds.
• Provide market colour, trade ideas, and thematic strategies (carry trades, dislocation trades, correlation views, basis opportunities).
• Collaborate with Sales to grow wallet share, deliver RFQ responsiveness and pricing consistency, and manage key accounts.

Governance, Controls & Regulatory

• Ensure compliance with MiFID II, EMIR (including clearing obligations and margining for OTC derivatives), PRIIPs KID requirements, SFDR (where applicable), MAR (market abuse), Basel III / CRR capital and liquidity rules, and AMF / EU local regulatory expectations.
• Maintain robust model governance, price testing, IPV, Fair Value controls, and documentation standards.
• Champion conduct risk and best execution; adhere to trade capture integrity and post-trade controls.

Leadership & Collaboration

• Mentor junior traders / analysts; contribute to desk strategy, risk frameworks, and technology / tooling enhancements.
• Work closely with Quant, Risk, Legal, Compliance, Operations, Treasury, and Syndicate to deliver scalable, well-controlled growth.

Required Qualifications & Experience

• 10+ years of front-office experience in structured credit trading with direct P&L responsibility across CLNs, repacks, and tranches (sell-side experience strongly preferred).
• Deep product knowledge of CDS, index tranches (iTraxx / CMBX / CDX), basket structures, repack SPVs, and embedded options (calls / puts / caps / floors).
• Proven track record in pricing, hedging, and risk-managing complex credit structures, including correlation modelling, default / recovery dynamics, and basis risks (bond-CDS, TRS-bond, tranche-index).
• Strong familiarity with XVA, CVA hedging, and capital optimization; comfort with VaR / ES, stress testing, and scenario analysis.
• Advanced quantitative skills: credit curve construction, copula / correlation frameworks, stochastic modelling, and Python / VBA or similar tooling for pricing / analytics (front-office utility level).
• Bachelor's / Master's in Finance, Mathematics, Engineering, or related field; CFA / FRM an advantage.

Skills & Competencies

• Commercial instinct & client orientation: ability to originate and close trades with risk discipline.
• Risk-first mindset: clear articulation of risk drivers, hedging strategies, and P&L attribution.
• Execution excellence: speed, accuracy, and control across complex structures and multi-leg hedges.
• Communication: concise, credible with clients and internal stakeholders; strong term sheet / documentation fluency.
• Team leadership: coach and upskill junior talent; collaborate across functions.
• Languages: English and French (professional proficiency). Additional European languages are a plus.

Compensation & Benefits

• Competitive base salary + discretionary bonus linked to desk and individual performance.
• Benefits include health coverage, pension, and relocation assistance (if applicable).
• Executive Director title with scope for leadership and platform-wide impact.