VP Trader

MUFG Securities EMEA plc; London; On-site; GBP 125,000 - 150,000; Full time

Job summary

A global financial institution in London is seeking a qualified candidate for the Structured Trading Group. The role involves accountability for structured derivatives, managing risks, and ensuring compliance with regulatory standards. The ideal candidate possesses at least 3 years of experience in a major financial institution and a strong understanding of financial markets. This is a great opportunity to contribute to innovative solutions in a collaborative environment.

Qualifications

• At least 3 years of working experience at major financial institutions.
• Experience in managing significant risks in non-linear derivatives.
• Experience in pricing complex derivatives in Rates or Hybrid products.

Responsibilities

• Accountable for planning, executing and aligning departmental strategy.
• Responsible for managing risks and ensuring compliance with regulatory requirements.
• Maintaining good working relationships with stakeholders globally.

Skills

Knowledge of financial market and instruments including derivatives

Strong numerical skill

Diligent and disciplined in risk management

Education

University Degree or equivalent work experience

Master Degree

Job description

Do you want your voice heard and your actions to count?

Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups. Across the globe, we’re 120,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.

Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

MUFG (Mitsubishi UFJ Financial Group) is one of the world's leading financial groups. Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with around 2,300 offices in over 50 countries including the Americas, Europe, the Middle East and Africa, Asia and Oceania, and East Asia. The group has over 150,000 employees, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.

As one of the top financial groups globally with a vision to be the world's most trusted, we want to attract, nurture and retain the most talented individuals in the market. The size and range of MUFG's global business creates opportunities for our employees to stretch themselves and reap the rewards, whilst our common values, to behave with integrity and responsibility, and to build a culture which is fair, transparent, and honest, underpin everything that we do. We aim to be the financial partner of choice for our clients, whatever their requirements, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

MUFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges. The group’s operating companies include, but are not limited to, MUFG Bank, Mitsubishi UFJ Trust and Banking (Japan's leading trust bank), Mitsubishi UFJ Securities Holdings (one of Japan's largest securities firms), and MUFG Americas Holdings.

Structured Trading Group (STG) is the main hub for Structured Products at MUFG. The desk is responsible for the structuring, trading and management of Structured Derivatives in Interest Rates, FX and Hybrid products. STG services the clients of MUFG and its affiliates by leveraging their best in class infrastructure, product expertise and sophisticated risk management capabilities to deliver bespoke products and solutions consistently across the regions.

NUMBER OF DIRECT REPORTS

N/A

MAIN PURPOSE OF THE ROLE

Specifically, you have accountability for the Structured Trading Group.

Being highly reliable and accountable for the risk and the controls in place.

Demonstrating ownership in minimising any operational and financial risks. Excellent communication skills with the team.

Adding value to the team from previous experience/roles in structured notes / exotic rates and/or credit is a plus.

Gaining autonomy in risk management the book under the supervision of more senior traders.

Proactivity in improving the current framework/ client offering/ pricing and risk management

KEY RESPONSIBILITIES

Specifically, you will be accountable and responsible for taking appropriate action with respect to the Company and Structured Trading Group department, including:

1) Planning, Strategy Development and Execution [Trader]

You will be responsible for contributing to the successful execution of departmental strategy - in line with the regional business objectives, international business objectives and entity requirements. Specifically this will include the following:

• responsible and accountable for ensuring that your day-to-day activities (including, where applicable, those of your direct reports) are aligned to the overall departmental business strategy for your product / domain – this includes meeting/exceeding the official minimum financial and non-financial targets
• responsible and accountable for adhering to your departmental mandates
• responsible(Where applicable) responsible for leading, directing and managing staff within your team to ensure that they (i) understand their responsibilities and duties applicable to their roles, (ii) comply with the Firm’s policies and procedures and (iii) conduct themselves in a way which is commensurate with the Firm’s values;
• responsible and accountable for managing and monitoring your applicable books risks and associated controls to control the Firm’s exposure within predefined limits prescribed by Risk Management and established by the Firm’s Risk Management Committee;
• responsible and accountable for adhering to the Trader Charter
• responsible and accountable for conducting business in line with internal policies and procedures as well as regulatory requirements
• responsible for maintaining and enhancing good working relationships between Structured Trading Group and stakeholders, including business and control / infrastructure teams globally;
• responsible for contributing to the effective management of direct budget expenditures where required
• responsible for working in partnership with broader GM, GCIB and JCIB teams to develop the business globally
• responsible for pricing, trading with clients and managing risks for structured products
• responsible for achieving assigned profit and loss target
• responsible for enhancing relationship with Mitsubishi UFJ Morgan Stanley Securities on structured trading business

As a member of the Structured Trading Group, you will be responsible for identifying, monitoring and taking and taking actions (incl. escalations where applicable) further to your delegated authority in respect of, the risk being run across your product / domain. You will be:

• responsible for pricing accurately all new transactions and all risk positions; including through the use and continued development of market-leading pricing and hedging methodologies
• responsible for the management of all relevant risks (including, but not limited to, market, credit, operational, conduct and xVA risks applicable to your product/domain) within the Firm’s risk appetite; including through the use and continued development of market-leading risk management models and monitoring tools. Specifically you will be accountable and responsible for ensuring compliance within approved risk limits for your Structured Trading Group,
• responsible for ensuring that you conduct business in line with regulatory requirements (including but not limited to Volcker, EMIR and MIFID).
• responsible and accountable for the escalation of issues identified in the ordinary course of your business. This includes, but is not limited to issues relating to risk management, regulatory risk compliance and operational risks
• responsible for protecting and enhancing the Firm’s, and the Group’s, reputation in all activities

3) Franchise Development (where applicable)

• responsible for delivering and growing a sustainable, client-focussed, flow-oriented, business
• responsible for maximising profitability from leveraging and enhancing the Group’s customer franchise.
• responsible for working in partnership with Sales, Trading and Research in MUS International to deliver products that meet the needs of our clients.
• Responsible for working in partnership with other parts of the Group to deliver franchise and business growth

4) Controls and Compliance

You are responsible for ensuring the Company’s compliance with internal risk and compliance requirements, controls and procedures, including but not limited to:

• personally, following all relevant policies and procedures, and ensuring those in your teams also follow policy and procedures.
• (Where applicable) responsible for leading, directing and managing the staff within your team to ensure that they (i) understand their responsibilities and duties applicable to their roles, (ii) comply with the Firm’s policies and procedures and (iii) conduct themselves in a way which is commensurate with the Firm’s values;

5) People (If applicable)

You will manage and/or contribute to the following matters, appropriate for above departments, in conjunction with your unit head:

• authority for building (via recruitment, restructuring and internal development) a team of high-quality professionals that will achieve the objectives of your product/domain, the business unit, international platform and the broader MUFG Group to leverage the strategic advantages;
• accountable for ensuring that all staff in your remit are fully trained and understand what is required of them in order to do their jobs effectively, including ensuring that job descriptions, objectives/personal development and performance reviews are provided for all staff at least once a year in accordance with Human Resources requirements, continually monitoring their competency in order to meet the requirements of the relevant regulator’s training and competency regime, handling appropriately any grievance or disciplinary issues; and
• accountable for ensuring that any responsibilities that you have delegated to other staff, including those in respect of regulatory obligations (where applicable), are appropriately apportioned and controlled and documented. Ensure that the staff in question have a clear understanding of these duties so as to ensure that the business and affairs of the] function can be adequately monitored and controlled

6) Relationship with other functions and stakeholders

• Maintain and enhance good working relationships with stakeholders, across the region and globally to share best practices, provide support and develop effective local policies and procedures appropriate to the Company, and working in support of the One MUFG and overall Group strategy.

WORK EXPERIENCE

• At least 3 years of working experience at major financial institutions
• Experience in managing significant risks in non-linear derivatives
• Experience in pricing complex derivatives in Rates or Hybrid products

Preferred:

• Track record of revenue

SKILLS AND EXPERIENCE

Functional / Technical Competencies:

• Knowledge of financial market and instruments including derivatives
• Strong numerical skill
• Diligent and disciplined in risk management

Preferred:

• Ability to code

Education / Qualifications:

• University Degree or equivalent work experience

Preferred:

• Master Degree

PERSONAL REQUIREMENTS

• Results driven, with a strong sense of accountability
• A proactive, motivated approach.
• The ability to operate with urgency and prioritise work accordingly
• A creative and innovative approach to work
• Excellent attention to detail and accuracy
• A calm approach, with the ability to perform well in a pressurised environment
• Strong numerical skills

We are open to considering flexible working requests in line with organisational requirements.

MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.

We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.

About US

At MUFG, our colleagues are our greatest assets. Our Culture Principles provide a roadmap for how each of our colleagues must think and act to become more client-obsessed, inclusive and innovative. They reflect who we are, who we want to be and what we expect from one another. We are excited to see you take the next step in exploring a career with us and encourage you to spend more time reviewing them!