FX Option Trader

General information

Job description

Business type

Types of Jobs - Corporate & Investment Banking

Expected start date

01/04/2024

Management position

No

Job summary

Summary
Responsible for market-making China local markets products. Local markets refer to any currencies derivative products approved by CBRC locally, GMT internally to be dealt onshore in China. The role has specific focus on market-making and risk management of FX option and non-linear products for onshore China markets. At the same time, the role will require to act as back up for linear FX trading desk for CFETS market-making activities. Key Responsibilities
1. Strategy and Business Planning
. Formulate trading strategies daily by analyzing the latest market data and establishing positions to take advantage of market moves.
. Execute transactions accurately and in accordance with established risk management procedures and risk parameters.
. Develop CA-CIB's profile and pricing capacity in FX Option and non-linear products in China markets.
. Be aware of all economic and financial data likely to affect the market and keep updated on market changes.
. Provide product pricing for both new products as well as specific client transactions. Pricing must ensure that the Bank is adequately compensated for the level of principal risk and the amount of balance sheet it dedicates to specific transactions.
. Input all executed trades directly into the Front Office System

2. Daily Trading & Administrative Responsibilities
. Price and execute all client transactions in the market sector for which responsible.
. Timely record and enter all transactions into front office trading systems in line with applicable trading procedures in effect.
. Provide best efforts in a timely fashion to resolve all trade breaks as reported by Back Office.

3. Management and Reporting
. Report to the Head of Trading on the progress of the business and specific issues.

4. Risk
. In conjunction with Line managers, establish overall risk parameters.
. Ensure adherence with regard to position and risk limits, market and counterparty risk.
. Adhering to given risk limits at all times
. Managing and hedging the overall risk of the credit portfolio on an intra and inter day basis 5. Counterparties and clients
. Develop and maintain relationships with peers in other organisations.
. Represent the firm with external organisations (e.g., industry or product committees, and regulatory or governing bodies). 6. Communication . Attend regular conference calls with the team in Asia to review market strategy, exchange ideas and inform of any important administrative matters.
. Maintain contact with the Sales desks regarding shared business.
. At any time, communicate to the management and concerned functions in case of problems.
. Work closely with back office and middle office to ensure accurate and efficient processing of trades.

Supplementary Information

Key Internal Contacts
-Chief Operating Officer (Global Business Manager)

-Team members - discuss position-taking and exchange ideas

-Market Activity Monitoring (MAM) / Market Risk - provision of P&L and risk reports

-Sales desk - quote pricing to clients

-Back office/ Middle office - to process trades and pick up errors

Key External Contacts
-CEFTS, PBOC, CBRC and NAFMII

-Counterparties

-Clients where so request by sales desk

-Brokers

Systems Used

-Internal: Outlook, Office, Intranet, Summit, Concerto

-External: Bloomberg, Reuters

Legal and Regulatory Responsibilities

-Comply with all applicable legal, regulatory and internal Compliance requirements, including, but not limited to, the China Compliance manual and Compliance policies and procedures as issued from time to time Financial Security requirements, including, but not limited to, the prevention of Financial Crime and Fraud including reporting obligations to the Money Laundering Reporting Officer.

-Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training as required to attain and maintain competence.

Position location

Geographical area

Asia, China

Candidate criteria

Minimal education level

Postgraduate degree - MA/MSc/PhD/Doctorate or equivalent

Academic qualification / Speciality

-Degree or equivalent experience, preferably in a Mathematical/ Scientific area

Computer literate.

Experience

-Experience in financial products, derivatives or related trading/ risk management activities.

-Experience in trading and risk managing a trading book.

Required skills

-Strong initiative

-Team oriented

-Excellent communication skills

-The ability to think quickly, make decisions using good judgement and prioritise in busy trading situations

-Ability to remain calm under pressure.

Technical skills required

-An in-depth knowledge of the overall market.

-IT literate

-Thorough knowledge of financial derivatives including market liquidity (ability to enter or exit a position) and volatility (magnitude / speed of price change), pricing and trading/hedging strategies

-Strong numeracy, analysis and spreadsheet skills.

Languages

Mandarin (Native speaker)