Position Overview
We are looking for a candidate to provide FX Derivatives counterparty service to internal/external clients, quoting clients and other desks requests and carrying out the necessary hedging from this activity. Be responsible for the pricing and risk hedging of the assets under his/ her responsibility, complying within the Traders Mandate. The position will be located in NY, inside the FX Trading Team.
The three main areas to cover:
- To manage FX Vol EM.
- To manage FX Vol G10.
- FX Structure Notes for US Clients.
About the Team
The FX Trading Team is inside Global Market, which belongs to Corporate and Investment Banking, serving clients worldwide offering financial services to Corporates and Institutional.
Global FX team is over 100 people team worldwide, within more than 15 different nationalities operating in round 10 different countries, where The Bank Values play a key role in all interactions beneath their members.
Major Job Duties
- Collaborate with the Top Management defining the desk strategy, focusing on meeting internal and external customer needs/demands and complying with the risk and regulatory requirements.
- Give counterparty service in FX derivatives to client’s requests submitted by the Sales team. Quote prices, focusing on increasing the flow of orders by promoting the excellence in the service offered to the clients. Manage the FX e-pricing (via e-Platforms), making sure that the published rates are competitive.
- Provide trading ideas to be used as a sales tool and as a P&L generator within the FX product line.
- Perform dynamic hedging of the risk of his/ her own market positions. Focus on breaking and covering the risks in coordination with other trading desks. Maintain the risks within the acceptable/ allowed risk limits
- Monitor the FX market continuously, being in permanent contact with other market participants/ counterparties. Focus on adjusting and updating the trading parameters of his/ her valuating models to the market risks and conditions
- Register all trades/ transactions in BBVA internal applications. Assist middle and back office in the transactions’ settlement, in order to minimize operational risk and/ or solve incidences. Verify the orders’ compliance and control in case of contingency, system failure and incidences
- Carry out the daily closing processes, verifying that the book risks are covered and the positions are correctly informed in the internal systems
- Liaise with other FX Trading desks to coordinate the hedging and share market and clients’ needs knowledge. Promote the generation of synergies in the in the global FX pricing and hedging strategy. Vol Books are Global Books, coordination with the rest of Derivatives Traders from Madrid, London, HK and Mexico is key for the success of the mandate.
- Collaborate with the FX E-Commerce team in order to improve BBVA FX platform capabilities. Support in the development and commercialization of new FX tools and platforms
- Collaborate with Quants and Structuring teams to develop valuation models and structured FX products.
- Comply with both internal and external operational policies, procedures and regulatory requirements
- Generate recurrent income complying with the budget and the hit/ miss target set for the products/ assets under his/ her responsibility, under the Mandates Risk Limits.
- Managing the FX Trading team in NY, reporting to FX Global Heads and local head of Macro on a periodic and ad-hoc basis about main trading indicators such as closed trades, P&L, positions, etc.
Experience
- Experience, at least 10 years in a Financial Markets role needed. Experience in managing Volatility products.
- University Degree, preference for Engineering or Economics, quantitative analysis preferable.
- High English & Spanish proficiency Level, due to the majority of our customer data base & Hubs languages.
Aptitude
We are looking for an Energy person, who might be able to generate a positive Teamwork environment. Tension, Analytics and Data Decision Driven are 3 adjectives that could define an FX Trading ecosystem, where the candidate might feel comfortable dealing with any of those. Focus in new technologies and analytic mind-set, both skills would be in the person benefit of successfully manage her/himself inside the Area.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
With respect to this position in our New York Office, the expected base salary ranges from $240,000 to $300,000. It is not typical for offers to be made at or near the top of the range. Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, certifications obtained. Market and organizational factors are also considered. In addition to salary and a generous employee benefits package, successful candidates are eligible to receive a discretionary bonus.
*Employment eligibility to work with BBVA in the U.S. is required as the company will not pursue visa sponsorship for these positions
