USD Interest Rate Swaps Trading

U.S. Bank; New York (NY); On-site; USD 134,000 - 164,000; Full time

Benefits offered by this job

Healthcare (medical, dental, vision)

Life insurance

Disability insurance

Parental leave

401(k)

Paid vacation

Paid holidays

Adoption assistance

Sick leave

Job summary

U.S. Bank in New York seeks a USD Interest Rate Swaps Trader to lead client execution, market-making, and risk management across USD IRS, while modernizing pricing and analytics.

The role emphasizes revenue generation, disciplined trading, and collaboration with Sales, Risk, Tech, and Treasury to service institutional clients.

Candidates should have 5+ years of derivatives trading experience and appropriate FINRA/NFA credentials; the bank offers a comprehensive benefits package.

Qualifications

• FINRA Series 7 & 63 and NFA Associated Persons designation required.
• Bachelor’s degree in Finance, Economics, Mathematics, Engineering or related quant field.
• 5+ years trading USD Interest Rate Swaps or related derivatives.
• Deep expertise in macro cash products, linear derivatives, and financing instruments.
• Proven risk management and adherence to trading limits.
• Experience partnering with Sales, Risk, Technology, and Treasury.
• Ability to articulate strategy and risk to senior stakeholders.

Responsibilities

• Execute and monetize client transactions across voice and electronic markets.
• Implement pricing tools and analytics to improve monetization.
• Partner with Sales to deepen client engagement and present capabilities.
• Ensure adherence to risk limits and regulatory requirements.
• Collaborate with risk teams on stress tests and controls.

Skills

FINRA Series 7 & 63

NFA Associated Persons

Macro cash products

Risk management

Stakeholder collaboration

Education

Finance/Econ/Math degree

Tools

Pricing analytics tools

Job description

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

The USD Interest Rate Swaps Trader, is responsible for client execution, market‑making, and risk management activities across different instruments within USD Interest Rate Swaps market, while modernizing the firm’s pricing and risk analytics infrastructure. This role will drive client‑focused revenue generation and ensure a resilient and scalable USD Interest Rate Swaps trading platform that operates with discipline, integrity, and sound risk management.

Key Responsibilities

Revenue Growth & Market‑Making

• Execute and monetize client transactions in alignment with market structure (both voice and electronic) and macroeconomic outlook.

• Implement pricing tools, analytics, and automation to increase pricing efficiency and enhance monetization of client flows.

• Partner closely with Sales to deepen client engagement and showcase the firm’s trading and execution capabilities at key client events

Risk Management & Infrastructure

• Ensure strict adherence to established risk limits, governance frameworks, and regulatory requirements.

• Partner with risk management teams to ensure compliance with trading limits, stress testing requirements, and control frameworks.

Basic Qualifications

• FINRA Series 7 and 63, and NFA Associated Persons designation (required).

• Bachelor’s degree in Finance, Economics, Mathematics, Engineering, or related quantitative field.

• Extensive experience (5+ years) trading USD Interest Rate Swaps or related derivatives in a global markets environment.

• Deep expertise in Macro cash products, linear derivatives, and financing instruments, including modeling and risk management.

• Proven record of effective risk management, limit adherence, and regulatory engagement across changing market environments.

• Demonstrated success partnering with internal stakeholders such as Sales, Middle Office, Risk, Technology, Corporate Treasury, and Investment Portfolio.

• Ability to articulate strategy, market views, and risk considerations to senior stakeholders and external partners.

Preferred Skills & Experience

• Advanced quantitative or technical degree preferred.

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That’s why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

• Healthcare (medical, dental, vision)

• Basic term and optional term life insurance

• Short-term and long-term disability

• Pregnancy disability and parental leave

• 401(k) and employer-funded retirement plan

• Paid vacation (from two to five weeks depending on salary grade and tenure)

• Up to 11 paid holiday opportunities

• Adoption assistance

• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $134,280.00 - 164,120.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

Posting may be closed earlier due to high volume of applicants.