Director, Sr. Derivatives Analyst & Trader - Hybrid

Symetra Financial Corporation; Farmington (CT); Hybrid; USD 189,000 - 255,000; Full time

Job summary

Symetra Financial Corporation is seeking a Director, Sr. Derivatives Analyst & Trader to join their investment management team in Farmington, CT. The role involves executing derivative trades, conducting detailed analyses, and developing reporting systems. Ideal candidates will have extensive trading experience within an insurance or asset management context and be proficient in quantitative analysis and coding.

Benefits

401(k) plan with company match

Self-Managed Time Away

Community involvement programs

Qualifications

• 8+ years hands-on experience in derivatives trading and analysis.
• Ability to handle multiple trade requests in a fast-paced environment.
• Strong coding skills in Python, VBA, SQL.

Responsibilities

• Manage execution of derivative trades and perform thorough analysis.
• Conduct regular reporting and maintain derivative analytic systems.
• Coordinate with various stakeholders and manage liability processes.

Skills

Quantitative analysis

Risk management

Analytical skills

Attention to detail

Education

Degree in computer science, mathematics, engineering or operations research

Tools

Python

VBA Macros

SQL

PowerBI

Job description

Symetra has an exciting opportunity to join our team as a Director, Sr. Derivatives Analyst & Trader!

About the Role

The successful candidate will have responsibilities across various trading, analytical, and quantitative analysis functions within the derivatives front office of the investment management department. This includes the identification, execution and daily management of derivative trades in accordance with approved programs, analytical work on the underlying portfolio of assets as well as liabilities, ad-hoc and daily risk and P/L attribution, and coding in support of trading/risk analysis, trading tools/utilities development, process automation and reporting.

Company Overview

Symetra Investment Management (“SIM”) is a SEC-registered investment advisory firm with approximately $75 billion in assets under management as of December 31, 2023. Symetra Financial Corporation (“SFC”), a diversified financial services company with $59 billion in assets as of December 31, 2022, headquartered in Bellevue, Washington is the sole shareholder of SIM. SFC is also the holding company of Symetra Life Insurance Company (“Symetra Life”), which was founded in 1957, and has insurer financial strength ratings of ‘A’ by A.M. Best and Standard & Poor’s and ‘A1’ by Moody’s. Symetra Life is among the top 40 largest life insurance companies in the United States (based on statutory admitted assets as of December 31, 2022) and has approximately 1.7 million customers and over 2,200 employees nationwide. SFC is a wholly owned subsidiary of Sumitomo Life Insurance Company, a mutual life insurance company with head offices in Osaka and Tokyo, Japan. Founded in 1907, Sumitomo is one of the largest life insurance companies in Japan with $319 billion of assets as of March 31, 2023. SIM has recently begun marketing its investment management services to third-party institutional investors.

What you will do

• Execution of derivative trades in accordance with the Company's approved derivatives programs. Execution in both cleared and bilateral derivatives markets using both exchange-listed and over-the-counter instruments with expert knowledge of the economics, risks and market conventions of such derivatives. Positions will be taken in equity, rates, credit, commodity, and FX derivatives. Review and execution of trade confirmations and interfacing with Operations team on all aspects of the trade lifecycle including collateral management, trade booking, reconciliation and settlements. Expertise on liability processes and coordination with insurance company stakeholders on resolving liability related data issues and new product onboarding into trading and reporting systems.

• Analytical work on derivative assets and insurance liabilities in support of the management of the derivatives portfolio including derivatives pricing, modeling prototypes, comprehensive analysis of Greeks / risk exposures, analysis of new insurance product features, coordination with insurance lines of business, and various investment sector desks by providing accurate and timely responses to their queries. Coding in Python, VBA Macros, SQL and financial and statistical software packages in support of trading/risk/P&L analysis, trading tool/utility development and process automation

• Responsible for regular and on-demand reporting including providing comprehensive and insightful commentary and actionable recommendations. Using reporting as a feedback tool to inform hedge execution. Hands-on experience with PowerBI to modernize reporting. Develop processes, systems and tools to support P/L reporting and attribution, risk reporting, scenario analysis and transaction cost analysis. This work will include writing and maintaining SQL queries, building database and reporting functionality, market and trade data retrieval, and other elements common to the functionality and maintenance of derivatives analytic systems

What we offer you

We don’t take a “one-size-fits-all” approach when it comes to our employees. Our programs are designed to make your life better both at work and at home.

• Plan for your future with our 401(k) plan and take advantage of immediate vesting and company matching up to 6%
• Self-Managed Time Away along with paid holidays
• Give back to your community and double your impact through our company matching
• Want more details? Check out Symetra Benefits Overview

Who you are

• Highly quantitative educational credentials in a quantitative discipline such as computer science, mathematics, engineering, or operations research.

• 8+ years of experience in a hands-on derivatives trading and analysis role focused directly on hedging and/or the derivatives markets in an insurance company or asset management firm.

• Ability to handle trade requests from multiple sources simultaneously and multi-task in a fast-paced environment.

• Well organized, independent, entrepreneurial and self-motivated with the ability to maintain composure while working under pressure.

• A roll-up the sleeves, “get it done” work ethic that supports the completion of tasks within specified timeframes, understanding that the work requirements of the position will sometimes embed inflexible deadlines.

• Accurate, best practice trade execution with attention to detail and the ability to efficiently balance both project work and trading responsibilities.

• Advanced spreadsheet and coding skills, including an emphasis on efficient automation and day-to-day maintenance of quantitative desktop trading and portfolio management tools in an independent manner.

• Must have a sound understanding of derivatives-oriented technology platforms. A demonstrable understanding of derivatives pricing and hedging, including risk-neutral valuation and option pricing techniques.

• Direct familiarity with index-linked insurance products, including indexed and/or variable annuity hedging programs, knowledge of equity index options, knowledge of NumeriX, knowledge of derivative collateralization regimes and requirements is preferred.

We empower inclusion

At Symetra, we aspire to be the most inclusive insurance company in the country. We’re building a place where every employee feels valued, respected, and has opportunities to contribute. Inclusion is about recognizing our assumptions, considering multiple perspectives, and removing barriers.

We accept and celebrate diverse experiences, identities, and perspectives, because lifting each other up fuels thought and builds a stronger, more innovative company. We invite you to learn more about our efforts Here.

Creating a world where more people have access to financial freedom

Symetra is a national financial services company dedicated to helping people achieve their financial goals and feel confident about the future. In our daily work, we’re guided by the principles of Value, Transparency and Sustainability. This means we provide products and services people need at a competitive price, we communicate clearly and openly so people understand what they’re buying, and we design products—and operate our company—to stand the test of time. We’re committed to showing up for our communities, lifting up our employees, and standing up for diversity, equity and inclusion (DEI). Join our team and help us create a world where more people have access to financial freedom.

For more information about our careers visit: https://symetra.eightfold.ai/careers

Compensation

Salary Range: Min $189,000 – Max $255,000 plus eligibility for annual bonus program and long-term incentives.

Work Authorization

Employer work visa sponsorship and support are not provided for this role. Applicants must be currently authorized to work in the United States at hire and must maintain authorization to work in the United States throughout their employment with our company.

This is a hybrid work role based in Farmington Connecticut

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