Senior Interest Rate Volatility Trader

Absa Group; Johannesburg; On-site; ZAR 900 000 - 1 200 000; Full time

Job summary

A leading financial institution in South Africa is seeking a Senior Interest Rate Volatility Trader. The role involves managing derivative transactions, developing trading strategies, and conducting market research. Ideal candidates will possess strong analytical skills and a relevant degree, with a minimum of 7 years of experience in fixed income derivatives trading.

Qualifications

• Minimum 7 years experience in fixed income derivatives trading or structuring.

Responsibilities

• Manage the Interest Rate Options portfolio for the Non-Linear Derivatives desk.
• Build financial models to optimize hedging strategies.
• Originate trade ideas and collaborate with stakeholders.

Skills

Analytical Skills

Technical Skills

Education

Bachelor's degree in Mathematics

Bachelor's degree in Statistics

Bachelor's degree in Economics

Bachelor's degree in Finance

CFA Charter

Job description

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Job Summary

Responsible for executing vanilla and exotic derivative transactions related to financial derivative instruments such as forward rate agreements, caps, floors, interest rate swaps, cross currency swaps / options, bond options, and currency derivatives.

Qualifications

The ideal candidate will have a Bachelor's degree (preferably post-graduate) in Mathematics, Statistics, Economics, Finance, or a related quantitative field; CFA Charter is advantageous.

A minimum of 7 years experience in fixed income derivatives trading or structuring, with strong analytical and technical skills, is required.

Job Responsibilities

1. Trading
   • Manage the Interest Rate Options portfolio for the Non-Linear Derivatives desk, including client market-making, risk management, and daily profit and loss reconciliation.
   • Build financial models to optimize hedging strategies, including duration, convexity, and volatility exposure.
   • Originate trade ideas and collaborate with stakeholders to generate profitable trading strategies.
   • Execute derivative and securities trades with internal and external counterparties.
   • Ensure transactions comply with policies and regulatory requirements, including risk and exposure management.
   • Stay updated on developments in derivative instruments, legislation, and statutory requirements.
   • Anticipate market trends and identify trade opportunities with superior risk-adjusted returns.
2. Research
   • Conduct continuous market scans of local and international peers to identify trends and inform product development.
   • Research market needs, competitors, and future trends to maintain profitability and competitive advantage.
   • Attend industry conferences and networking events to stay informed and adapt strategies accordingly.
   • Develop and influence product strategies based on research findings, including distribution strategies.
3. Stakeholder Engagement
   • Confirm trades with relevant parties, liaise with brokers and fund managers, and oversee less experienced traders.
   • Contribute to product-related activities and develop relationships with internal and external partners.
   • Communicate developments effectively to all stakeholders.
   • Maintain good working relationships with all business partners and ensure timely provision of management information.

Additional Information

Absa Bank Limited is an equal opportunity employer. Preference will be given to candidates from designated groups to promote diversity and meet employment equity objectives. The bank reserves the right not to fill the position.

Job Details

Seniority level: Mid-Senior level

Employment type: Full-time

Job function: Finance and Sales

Industries: Banking and Financial Services