Derivatives Trader

Date Posted: 06/12/2024

Location: London

Job Type: Full time

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Who are Just?

We’re a FTSE 250 Financial Services company who specialise in retirement solutions and right now, our world is moving pretty quickly. With the defined benefit buy in / buy out space growing each year, Just continues to annually grow its business by over £4bn of assets.

We are a purpose driven company with compelling and credible goals. Quite simply, we help people achieve a better later life. We achieve this by providing competitive and innovative products, services, financial advice and guidance to help our customers achieve security, certainty and provide them with peace of mind in retirement.

That’s who we are. We’re a company on a mission: to become a beacon for the entire retirement industry. Because we believe everyone deserves a fair, secure, and fulfilling retirement.

Purpose

To provide day-to-day trading & structuring in all types of derivatives (rates, inflation, FX, credit) as well as FX transactions, government bonds, repurchase agreements and collateral trades.

To provide analytical and quantitative support in the trading and risk management process.

Job Role Accountabilities

Trading and Risk Management processes – Monitoring and improvement (creation of new and maintenance of existing reports, administration of booking & reporting processes, research & development of new or alternative processes).
Eligible Collateral Availability (Initial and Variable Margin) – monitoring and improvement of existing processes.
Support the analytical process of market stresses for derivatives portfolios.
Help and assist in the negotiation and administration of existing and new legal trade agreements for bilateral and cleared derivatives/cash trades (Cash CSAs, Bond CSAs, GMRAs, etc).
Middle and Back Office support – key person for a seamless communication and reporting of new and existing trades.
Modelling – learn and support new modelling approaches (pricing, risk, stresses, counterparty exposure).
Career growth – learn about new market developments and gain experience in executing new trades, interaction with the ALM team and the Investments team.

Examples of Key Activities

Trading support - Booking & reporting of new trades
Trade pricing - Live and back-up pricing
Modelling – Pricing, stresses, scenario analysis
Internal support – Responding to day-to-day inquiries from key internal partners
Middle and Back Office support – For new and existing trades and inquiries

Qualifications

Numerical skills – Ideally a degree in mathematics, science, engineering or finance/economics.

Experience

Previous experience in a front office or a middle office in a financial company (e.g. bank, insurance, pension fund, asset manager).
Diligent & high attention to details.
Good verbal and written communication skills.
Interpersonal skills to engage with internal and external parties.
Interest in financial markets (macro drivers, derivatives, trends & developments).
Programming experience (e.g. VBA, Python, Julia, C++, C#).
Proficient user of MS Office applications (Excel, Word, PowerPoint, Outlook).
Problem solving & analytical skills.
Understanding of processes and governance of a regulated insurance company would be beneficial but not essential.
Embrace cultural and personal differences in an open-plan office working with many different teams.
General curiosity how different teams and departments are connected and how they interact.

Why Just?

We are committed to building a more sustainable business and have publicly committed to reduce our scope 3 emissions to Net Zero by 2050 and our scope 1 and 2 emissions to Net Zero by 2025. We’ve made good progress so far and encourage our people to make small and meaningful changes in their everyday lives, so that we can protect our planet for future generations.

Diversity, Equity and inclusion (DE&I) is a key priority for Just as part of our overall strategy and ensuring all of our people feel proud to work at Just. We have joined a number of initiatives including the Race at Work Charter, designed to improve outcomes for employees from underrepresented backgrounds. We also run a Reciprocal Mentoring scheme for employees from a BAME background, those with a disability and those who identify as LGBTQ+. There are multiple employee network groups, which champion issues including race, gender, social mobility and neurodiversity.

What’s clear about working at Just is that we care. We care about our customers, our purpose, our environment, inclusivity, wellbeing and most importantly - each other.

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