Head of UK Equity Derivatives Sales

A well-known Investment Bank is seeking a Head of UK Equity Derivatives Sales Specialist to join their team in London.

Overall Purpose of the Role:

Responsible for managing the UK Equity Derivatives Sales team.

Main Responsibilities:

Business development and execution

1. Manage, develop and diversify the ED Solutions Sales activity I revenue in UK.
2. Plan and organise client visits and meetings, establishing high level contacts with clients.
3. Develop the Bank's client base (Asset Managers, Pension Funds, Hedge Funds, Insurance Companies, Private Banks, Distributors, Family Office etc.). Develop knowledge of clients and their needs. Position the Bank to match our capabilities with client needs. Originate new transactions. Liaise with Financial Engineers, Trading and Product Specialist to contribute to the design of new products offered to the Bank's clients. Relay clients feedback to the trading team.
4. Co-ordinate the Bank's efforts to service client organisations: communicate and co-ordinate flows and orders with trading and sales teams. Ensure transaction execution meets client and the Bank's requirements, notably with regards to providing timely and professional pricing and ethical execution of customer flows.
5. Network with contacts to identify cross selling business opportunities. Strategy & Business Planning

Strategy & Business Planning

1. Maintain awareness of all economic and financial data and any other important factors (e.g. fiscal changes) likely to affect the client base and products being marketed.
2. Formulate marketing strategies; create business plans, relating these to marketing opportunities; draw up forecasts; report on variances.

Financial Performance

1. Aim to maximise long term revenues and control costs within the context of the Equity Derivatives business line strategy.

Reporting and Communication

1. Ensure that information on client needs, potential business opportunities and important changes affecting clients flows freely to management, to relevant structuring teams, to other sales teams and to relationship managers covering the client base.
2. Report to line manager on the progress of the business and specific issues (e.g. excess on limits, compliance problems, disagreement with client, reputational risk...).

Control

1. Ensure clients are suitably classified (under FCA rules) and are dealt with appropriately.
2. Ensure clients are cleared by Credit, Legal, Compliance and Operations before trading.
3. Ensure that new products are approved by the NPC before being offered to clients

Risk

1. Adhere to and understand risks to the bank and the client resulting from marketing initiatives or successful conclusion of transactions.
2. Consult the credit portal and adhere to counterparty risk limits prior to executing transactions.
3. Act as Operational Risk Correspondent as defined in the bank's procedures

Legal & Regulatory Responsibilities

1. Comply with all applicable legal, regulatory and internal Compliance requirements as issued from time to time, including, but not limited to: the London Compliance manual; Compliance policies and procedures; Security policies & procedures; Financial Security requirements, including but not limited to the prevention of Financial Crime and Fraud including reporting obligations to the Money Laundering Reporting Officer.
2. Maintain and develop product knowledge to ensure ability to undertake the role. Complete all mandatory training as required to attain and maintain competence.

Key Internal Contacts

1. Financial Engineers
2. Account Managers and Relationship Managers
3. Traders
4. Heads of EQD business line (Sales, Trading)

Key External Contacts

1. Clients

Systems Used

1. External Systems include Market Data (Reuters/ Bloomberg)

Management

1. Demonstrate the highest level of professional ethics and integrity.
2. Strive for excellence: Demonstrate high standards for yourself & team; showleadership by taking responsibility for achieving your own goals and those of the company.
3. Develop the team's skills: Set targets and assess performance in an objective and individualised way; identify, encourage and develop necessary key skills; understand how best to motivate members of team and provide feedback on performance; hold annual formal staff appraisals and monitor implementation of agreed actions.
4. Facilitate change: Encourage & involve team members
5. Focus on developing a client-centric culture: Be proactive to provide the best service to external and internal clients; facilitate cross selling.
6. Promote co-operation across departments/ entities and support & develop the Bank's strategy: Show team spirit; communicate important issues to line management; inform the team about the Bank's policies and procedures. Set an example in their application.
7. Facilitate participation, teamwork and co-operation; delegate effectively, setting clear, realistic but ambitious plans and goals for team members; be open to and address employee concerns; ensure fluid, regular communication operates within the team.

Responsible for Producing:

1. Marketing strategy, business plans, budgets, forecasts and follow up reports
2. Reports on marketing opportunities
3. Pitches to clients
4. New and recurring customer business
5. Periodic KYC and, if applicable, client suitability assessments
6. Client and call reports
7. Staff job descriptions, performance targets and appraisals

Responsible for Reviewing:

1. Timescales on sales
2. Economic and financial data likely to affect the client base and products
3. Client contributions data on transactions undertaken
4. Monthly management information reports for business line and London management

Job Requirements:

1. Extensive experience in sales and trading within the ED sales environment
2. Good understanding of relevant products, markets and trading
3. Good knowledge of market competition
4. Good man-management and leadership skills
5. Good relationship building skills, diplomacy
6. Organised
7. Team Orientated
8. Client centric
9. Strong negotiator and excellent communicator
10. Self-motivated and able to motivate others
11. Integrity and Trustworthiness
12. Able to work effectively under pressure