Senior Interest Rate Volatility Trader

Absa Group; Sandton; On-site; ZAR 80 000 - 150 000; Full time

Job summary

An established industry player is seeking an experienced trader to manage and optimize their Interest Rate Options portfolio. In this role, you will execute both vanilla and exotic derivative transactions, ensuring compliance with regulatory requirements while generating innovative trading strategies. The ideal candidate will possess a strong analytical background and a Bachelor's degree in a quantitative field, with a minimum of 7 years in fixed income derivatives. Join a dynamic team that values collaboration and continuous learning, and make a significant impact on the financial landscape of Africa.

Qualifications

• Minimum of 7 years of experience in fixed income derivatives trading.
• Strong analytical and technical skills required.

Responsibilities

• Manage Interest Rate Options portfolio and execute derivative transactions.
• Conduct ongoing market research to identify trends and inform strategies.

Skills

Fixed Income Derivatives Trading

Analytical Skills

Financial Markets Analysis

Risk Management

Mathematics

Statistics

Economics

Finance

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

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and a strong position as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future, and shape our destiny as a proudly African group.

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. The ideal candidate is an experienced trader with a Bachelor's degree (preferably post-graduate) in Mathematics, Statistics, Economics, Finance, or a related quantitative field. A CFA Charter is advantageous. A minimum of 7 years of experience in fixed income derivatives trading or structuring, with strong analytical and technical skills, including financial markets analysis, is required.

Job Description

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.
• Execute vanilla and exotic derivative transactions related to financial derivative instruments.
• Build financial models to optimize hedging strategies, including managing the portfolio's duration, convexity, and volatility exposure.
• Generate trade ideas and collaborate with stakeholders to develop profitable trading strategies.
• Execute derivative and securities trades with internal and external counterparties.
• Ensure transactions comply with policies, procedures, and regulatory requirements, including risk management.
• Stay informed about developments in derivative instruments, legislation, and statutory requirements.
• Identify market opportunities and anticipate market developments for superior risk-adjusted returns.

Research

• Conduct ongoing market research on local and international peers to identify trends and inform product development opportunities.
• Research product-market fit, competition, and future trends to ensure profitability and competitive advantage.
• Participate in industry conferences and networking activities to stay updated on industry changes and incorporate them into strategies.
• Develop and influence product strategies based on research, exploring new distribution strategies.

Stakeholder Engagement

• Confirm trades with relevant parties, liaise with brokers and fund managers, and supervise less experienced traders.
• Contribute professionally to product-related activities within the group and assess opportunities for new products.
• Communicate developments effectively to internal and external stakeholders.
• Build and maintain relationships with business partners, including delivery channels, marketing, communications, and product providers.
• Ensure timely provision of management information to all partners.

Education

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups to promote demographic diversity. The bank reserves the right not to fill the position.