Associate Portfolio Manager - FX & Cross-Currency Basis

Onyx Alpha Partners; Greater London; On-site; GBP 190,000 - 250,000; Full time

Benefits offered by this job

International relocation support

Non-compete up to 9 months

Job summary

Onyx Alpha Partners is seeking a quant trader to join a hedge fund pod focused on FX forwards, cross-currency basis and funding dislocations. You will join a risk allocation seat with the PM and author Python tools to find, size and manage trades.

Ideal candidates have 3+ years in funds, hands-on FX experience (FX swaps, basis or STIR), and a proven ability to structure end-to-end trade ideas from thesis to risk and outcome. Relocation support is available in this London-based role.

Qualifications

• 3+ years in a fund environment with hands-on FX basis or STIR experience.
• Strong Python for analytics, backtesting and research.
• Ability to turn ideas into repeatable, scalable trading frameworks.

Responsibilities

• Run risk allocation alongside the PM and build Python tools for sizing and trade management.
• Develop a repeatable Python framework from data to sizing and risk.
• Scale ideas as size and capital grow and manage basis trades.

Skills

Python

Pandas

Numpy

SQL

Job description

The Mandate

Trade FX forwards and cross-currency basis inside an established multi-manager, multi-strategy hedge fund pod. You run a risk allocation alongside the PM and build the Python tools that find, size and manage the trades.

• This is a risk-taking seat with a defined allocation, not a support role.
• Not a directional FX seat. The edge is in basis and funding dislocations, not directional macro views.

The Hard Questions (What You Will Solve)

• What is driving the basis: balance sheet costs, quarter-end funding or hedging flows, and how do you tell which one is in play?
• How do you size and hold a basis trade when funding costs move against you before it converges?
• How do you turn a trade idea into a repeatable framework in Python, from data and signals to sizing and risk, that still works when the size grows?

The Structural Edge

• Pod capital with a clear path to a larger allocation as the book proves out.
• Existing data, execution and risk infrastructure, so you build signals, not plumbing.
• Direct mentorship from an experienced PM in the same seat.

Ideal Profile

Key Metrics

• 3+ years working in a fund, ideally a multi-manager or single manager hedge fund firm.
• Hands-on exposure to FX swaps, cross-currency basis or STIR.
• Strong analytical depth, shown through a robust framework with a proven record of scaling ideas as size and capital grew.
• Trade ideas you can walk through end to end: the thesis, the sizing, the risk and the outcome.

Technical skills

• Strong Python for analytics, backtesting and research (pandas, numpy).
• Comfortable working with large market datasets. SQL is a plus.

Compensation & Preferences

• Non-compete: Client is willing to consider candidates with up to 9 months non-compete, preference given to those available sooner.
• Compensation: £190k-250k plus discretionary and very competitive, set by experience and track record.
• Relocation: International relocation support is available.

This is not a guarantee of compensation or salary; a final offer amount may vary based on factors including but not limited to experience, domain expertise, and geographic location.