FX & IR Hedging Trading Operations

Coda Search; New York (NY); On-site; USD 110,000 - 170,000; Full time

Job summary

Coda Search is seeking a Middle Office Operations professional to support its FX and interest rate hedging desk in New York. You will work with hedging traders across multiple funds and help run the full trade lifecycle from execution to settlement.

You will develop tools and dashboards in Python/SQL with Excel, Power BI, or Tableau, enabling real-time visibility into exposures, P&L, and hedge performance. A strong derivative‑operations background and cross‑functional communication are essential.

Qualifications

• 5–10 years of experience in middle office, trade support, or trade operations at an asset manager, alternative investment firm, hedge fund, bank, or broker‑dealer
• Strong working knowledge of FX and interest rate derivatives (forwards, swaps, options, cross‑currency swaps, caps) and their full trade lifecycle
• Experience with ISDA/CSA documentation, collateral management, and counterparty workflows
• Proven ability to build tools and dashboards; proficiency in Python and/or SQL and advanced Excel strongly preferred; experience with Power BI, Tableau, or similar a plus
• Experience with trading and execution platforms such as Bloomberg, FXGO, FXall, 360T, or similar
• Hands‑on experience with transaction cost analysis preferred
• Highly organized and detail‑oriented, able to handle a fast‑paced trading environment and competing priorities
• Strong communicator who’s comfortable partnering directly with traders and cross‑functional stakeholders

Responsibilities

• Trading Desk & Hedging Support: Act as the primary middle office partner to four FX and interest rate hedging traders, supporting hedging activity across the firm’s funds, vehicles, and investment platforms
• Trading Desk & Hedging Support: Support execution of FX forwards, swaps, and options, as well as interest rate swaps, caps, and cross‑currency swaps
• Trading Desk & Hedging Support: Help monitor hedge positions, maturities, rolls, and exposures, and keep the hedge book accurate and current
• Trading Desk & Hedging Support: Help put new hedge programs in place as the firm launches new funds, strategies, and investment vehicles
• Trade Operations: Own post‑trade processes, including trade capture, booking, affirmation, confirmation, and settlement
• Trade Operations: Reconcile trades, positions, and cash with counterparties, custodians, and fund administrators, and investigate and resolve breaks promptly
• Trade Operations: Support collateral and margin processes under ISDA/CSA agreements, including margin calls and disputes
• Trade Operations: Coordinate with Treasury, Fund Finance, Fund Accounting, Legal, and Compliance on counterparty onboarding, documentation, and trade‑related workflows
• Trade Operations: Design, build, and maintain tools and dashboards that give traders and senior stakeholders real‑time visibility into exposures, positions, P&L, and hedge performance
• Trade Operations: Automate manual processes and reporting to improve efficiency, accuracy, and scalability
• Transaction Cost Analysis: Produce transaction cost analysis (TCA) on hedge execution across counterparties and platforms
• Transaction Cost Analysis: Analyze execution quality, spreads, and counterparty performance, and share findings that inform trading strategy and counterparty selection
• Transaction Cost Analysis: Prepare regular reporting for the trading desk and senior management

Skills

Python

SQL

Excel

Power BI

Tableau

Communication

Derivatives knowledge

Education

Bachelor's degree in Finance, Economics, Mathematics, Computer Science, or related field

Tools

Bloomberg

FXGO

FXall

360T

Job description

Our client is a leading global alternative asset manager with approximately $950 billion in assets under management across Private Equity, Credit, Real Estate, Infrastructure, Insurance, and Multi-Asset Solutions. The firm is looking for a Middle Office Operations professional to support its FX and Interest Rate Hedging desk.

You’ll work directly with a team of FX and rates hedging traders and be a key partner across the full trade lifecycle. The job is a mix of hands‑on trade operations, hedge program support, and building tools and analytics. It suits someone who knows derivatives operations well, enjoys being close to the trading desk, and wants to make a platform run better and scale.

Key Responsibilities

Trading Desk & Hedging Support

• Act as the primary middle office partner to four FX and interest rate hedging traders, supporting hedging activity across the firm’s funds, vehicles, and investment platforms
• Support execution of FX forwards, swaps, and options, as well as interest rate swaps, caps, and cross‑currency swaps
• Help monitor hedge positions, maturities, rolls, and exposures, and keep the hedge book accurate and current
• Help put new hedge programs in place as the firm launches new funds, strategies, and investment vehicles

Trade Operations

• Own post‑trade processes, including trade capture, booking, affirmation, confirmation, and settlement
• Reconcile trades, positions, and cash with counterparties, custodians, and fund administrators, and investigate and resolve breaks promptly
• Support collateral and margin processes under ISDA/CSA agreements, including margin calls and disputes
• Coordinate with Treasury, Fund Finance, Fund Accounting, Legal, and Compliance on counterparty onboarding, documentation, and trade‑related workflows
• Design, build, and maintain tools and dashboards that give traders and senior stakeholders real‑time visibility into exposures, positions, P&L, and hedge performance
• Automate manual processes and reporting to improve efficiency, accuracy, and scalability
• Work with Technology to improve trading systems, data flows, and integrations

Transaction Cost Analysis

• Produce transaction cost analysis (TCA) on hedge execution across counterparties and platforms
• Analyze execution quality, spreads, and counterparty performance, and share findings that inform trading strategy and counterparty selection
• Prepare regular reporting for the trading desk and senior management

Qualifications

• 5–10 years of experience in middle office, trade support, or trade operations at an asset manager, alternative investment firm, hedge fund, bank, or broker‑dealer
• Strong working knowledge of FX and interest rate derivatives (forwards, swaps, options, cross‑currency swaps, caps) and their full trade lifecycle
• Experience with ISDA/CSA documentation, collateral management, and counterparty workflows
• Proven ability to build tools and dashboards; proficiency in Python and/or SQL and advanced Excel strongly preferred; experience with Power BI, Tableau, or similar a plus
• Experience with trading and execution platforms such as Bloomberg, FXGO, FXall, 360T, or similar
• Hands‑on experience with transaction cost analysis preferred
• Highly organized and detail‑oriented, able to handle a fast‑paced trading environment and competing priorities
• Strong communicator who’s comfortable partnering directly with traders and cross‑functional stakeholders
• Bachelor’s degree in Finance, Economics, Mathematics, Computer Science, or a related field