Portfolio Manager - Index Vol

JR United Kingdom; London; On-site; GBP 80,000 - 120,000; Full time

Job summary

A leading hedge fund is seeking an experienced Portfolio Manager to manage an Index Volatility Relative Value book. The ideal candidate will have extensive experience in trading index volatility strategies and a strong track record of generating consistent returns. This role involves independent management of a specialized portfolio, focusing on global index options while ensuring compliance with risk management standards.

Qualifications

• 7+ years of experience trading index volatility strategies.
• 3+ years of track record in volatility RV context.
• Deep expertise in index options markets.

Responsibilities

• Run and manage a capitalized volatility RV portfolio.
• Identify and exploit relative value dislocations.
• Monitor and optimize portfolio performance in real-time.

Skills

Quantitative skills

Risk management

Independent work

Tools

Python

R

MATLAB

Job description

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A $26bn hedge fund is seeking an experienced Portfolio Manager to run an Index Volatility Relative Value book. The ideal candidate will have a strong track record of generating uncorrelated returns and managing risk within a defined mandate.

Key Responsibilities

• Independently run and manage a capitalized volatility RV portfolio, focusing on global index options (e.g., SPX, EuroStoxx, Nikkei).
• Identify and exploit relative value dislocations in implied vs realized vol, cross-index dispersion, calendar spreads, skew, and convexity.
• Apply discretionary, quantitative, or hybrid techniques to develop high-conviction, risk-balanced trade ideas.
• Monitor, evaluate, and optimize portfolio performance, drawdowns, and exposure metrics in real-time.
• Collaborate with internal risk, execution, and data teams to maximize strategy efficiency and scalability.
• Ensure full compliance with internal limits, regulatory requirements, and best practices in risk management.

Ideal Candidate Profile

• 7+ years of experience trading index volatility strategies at a leading hedge fund, proprietary trading firm, or investment bank.
• Demonstrated 3+ year track record of consistent, risk-adjusted returns in a volatility RV context.
• Deep expertise in index options markets, including volatility surfaces, term structure, and relative value modeling.
• Strong quantitative skills; Python, R, or MATLAB proficiency preferred.
• Familiarity with electronic execution, volatility analytics, and cross-asset hedging techniques.
• Proven ability to work independently, manage risk responsibly, and contribute positively in a collaborative environment.