FX Options Trader

Commonwealth-Bank-of-Australia-9607b3c; Singapore; On-site; SGD 140,000 - 230,000; Full time

Job summary

Commonwealth Bank of Australia in Singapore seeks a Senior Associate to join the Global FX Options Trading team. You will contribute to market-making, pricing, and risk management across G10 FX options, developing volatility surfaces and pricing strategies.

The role collaborates with Sales, Structuring, Market Risk and Technology to provide competitive client pricing, manage risk, and drive profitability while delivering robust controls and scalable pricing infrastructure.

Qualifications

• 5+ years of FX options trading in banking or institutional trading.
• Expertise in G10 FX options, volatility dynamics, and derivatives pricing.
• Strong risk management, P&L delivery, and experience with pricing engines.

Responsibilities

• Manage and grow the FX Options trading franchise across G10 currencies.
• Provide competitive pricing and liquidity to institutional clients.
• Execute trades across vanilla and structured FX options.
• Monitor risk within approved limits and implement hedging strategies.
• Collaborate with Sales, Structuring, Market Risk, and Technology.

Skills

Pricing models

Volatility surfaces

Greeks & risk

Hedging

Market-making

Quant & analytics

Tools

Murex

Bloomberg

Python

VBA

Job description

The Global FX Trading business is responsible fordelivering voice and electronic pricing across all major currency pairs to oursophisticated, professional clients including all retail channels, banks,proprietary traders, Hedge Funds, Institutional clients and other financialinstitutions. The Trading business intersects with all internal divisions and teams within CBA to deliver appropriate hedging strategies for the bank’sclient base.

The Global FX business trading group offersseamless liquidity solutions across all major pairs and is particularly activein AUD, AUD cross, NZD and NZD cross markets.

The role encompasses overall responsibility for being a Trader andMarket Maker in the Global FX business.

Role Summary:

We are seeking a Senior Associate in FX Options Trading, to join our Global Markets business. The successful candidate will join the team responsible for managing the bank's FX Options market-making and trading activities, with accountability for volatility surface construction, option pricing, portfolio risk management, and profitability of the FX Options franchise.

The role expertise in G10 FX Options markets, volatility dynamics, derivatives pricing, and risk management.

The Senior Associate will work closely with Sales, Structuring, Market Risk, Technology, Operations, and other stakeholders to help the team deliver competitive client pricing, manage trading risk, and contribute to the strategic development of the FX Options business.

Key Responsibilities:

Trading & Market Making

• Work as part of the team to help manage and grow the FX Options trading franchise across G10 currency markets.
• Provide competitive pricing and liquidity to CBA’s institutional, corporate, and Business Bank clients.
• Execute trades across vanilla and selected structured FX option products.
• Manage market risk within approved trading mandates and delegated limits.
• Monitor market developments, macroeconomic trends, and central bank activity to identify trading opportunities and risks.
• Deliver consistent risk-adjusted profitability while maintaining disciplined risk controls.

Volatility Curve & Surface Management

• Construct FX volatility curves and surfaces to enable pricing of FX Options CBAs customers.
• Monitor relative value opportunities across volatility markets.
• Ensure pricing models accurately reflect prevailing market conditions and liquidity.

Risk Management

• Actively manage the risks of the FX Options trading books across currency and interest rate markets.
• Implement hedging strategies to optimise risk-adjusted returns.
• Monitor portfolio sensitivity metrics and stress-testing results.
• Partner with Market Risk and Product Control teams to help ensure the FX Options trading desk adheres to all trading limits and reporting requirements
• Work closely with Quantitative Analytics and Technology teams on model enhancements and infrastructure improvements.
• Contribute to the automation of pricing, execution, and risk management processes.

Client & Sales Partnership

• Partner with FX Sales teams to deliver market-leading client solutions.
• Provide pricing support, trade ideas, and market insights to Sales teams and internal stakeholders.
• Assist in the development of client relationships across institutional, corporate, and financial institution segments.
• Contribute to franchise growth through innovation and market expertise.

Required Experience

• 5+ years' experience in FX Options trading within a bank, market maker, or institutional trading environment.
• Demonstrated expertise in G10 FX Options markets.
• Significant experience managing volatility books and option risk.
• Strong understanding of volatility modelling, volatility surfaces, and derivatives pricing methodologies.
• Proven track record managing trading risk and delivering sustainable P&L result
• Experience working with electronic trading systems, pricing engines, and risk platforms.

Technical Skills:

• Advanced knowledge of FX Options pricing models.
• Strong understanding of:
• Volatility surfaces
• Greeks and higher-order risk measures
• Dynamic hedging methodologies
• Market-making strategies
• Strong quantitative and analytical skills.
• Experience with Murex, Bloomberg, Python, VBA, or similar analytical tools preferred.