Head of Derivatives business, FICC

A leading Chinese investment bank is looking to hire an experienced and commercially driven Head of FICC Derivatives to lead and manage the derivatives business, especially the OTC derivatives. This role will be responsible for setting strategy, driving business growth, overseeing P&L, managing risk and controls, and leading a team of professionals of decent size.

The ideal candidate will have a comprehensive, front-to-back background across FICC derivatives, with the ability to coordinate across trading, structuring, sales, risk, legal, compliance, operations, finance, and technology. A background with a global bank or international financial institution is strongly preferred.

Key Responsibilities:

1. Lead the FICC OTC Derivatives business, including strategy, product development, client coverage, and overall commercial performance.
2. Take ownership of P&L, budgeting, resource allocation, and business planning for the function.
3. Oversee OTC derivatives across relevant FICC asset classes, such as rates, FX, credit, and commodities, where applicable.
4. Manage pricing, valuation, hedging, structuring, and risk management of OTC derivative products.
5. Ensure robust risk governance, internal controls, and compliance with applicable regulations and internal policies.
6. Build and maintain strong relationships with clients, counterparties, regulators, and senior internal stakeholders.
7. Coordinate with regional and global teams to align local strategy with broader FICC and Global Markets objectives.
8. Lead, mentor, and develop a team of approximately 15 staff, fostering a high-performance and collaborative culture.
9. Drive process improvements, system enhancements, and operational efficiency across the OTC derivatives lifecycle.
10. Represent the business in key internal committees and external industry engagements.

Candidate Requirements

1. Extensive experience in FICC OTC derivatives, including significant leadership and business management responsibility.
2. Strong preference for candidates with foreign bank or international financial institution background.
3. Comprehensive experience across trading, structuring, sales, risk, product control, and regulatory/compliance aspects of OTC derivatives.
4. Proven track record of P&L ownership, business growth, and team leadership.
5. Deep understanding of derivatives pricing, valuation models, hedging strategies, and risk management.
6. Familiarity with regulatory frameworks in China, Hong Kong, and/or other major Asian markets.
7. Excellent stakeholder management and communication skills, with the ability to operate at senior executive level.
8. Strategic thinker with a hands-on, commercial, and collaborative approach.
9. High level of integrity, judgment, and accountability.
10. Bachelor’s degree required; advanced degree, CFA, FRM, or equivalent professional qualification preferred.
11. Fluency in English required; Mandarin proficiency preferred.

Key Attributes

1. Comprehensive, cross-functional FICC OTC derivatives expertise.
2. Strong leadership and team-building capabilities.
3. Entrepreneurial mindset with the ability to balance growth, risk, and control.
4. Ability to navigate complex regulatory and internal governance environments.
5. Excellent communication and coordination skills across regions and functions.