Structured Credit Trading
Role Overview
A leading international financial institution is seeking a senior Structured Credit Trader to join and help build out its Structured Credit trading platform in Europe. This is a growth hire for one of the firm's core European offices (Paris or Frankfurt), with a broad mandate spanning flow financing and highly complex structured credit transactions.
The role requires a non‑siloed risk‑taker with strong commercial instincts, capable of managing and pricing complex credit risk while also engaging directly with clients. Candidates from structured credit trading or structuring backgrounds will be considered, provided they demonstrate a genuine understanding of how risk behaves in real market conditions.
Key Responsibilities
Trading & Risk Management
- Trade and manage risk across a wide structured credit remit, including:
- CDS (including complex / 4th‑trigger structures)
- Exotic and bespoke credit derivatives
- Structured credit products and portfolios
- Lending and financing‑linked transactions
- Actively manage trading‑book risk, including pricing, hedging, stress testing, and scenario analysis.
- Demonstrate a deep understanding of credit risk dynamics, including correlation, optionality, liquidity, and tail‑risk behaviour.
- Optimise risk usage across balance sheet, capital, and funding constraints.
Flow & Complex Trading
- Execute flow financing and liquid credit trades alongside highly structured, bespoke transactions.
- Operate across vanilla and complex products without reliance on a single asset‑class or product silo.
- Identify relative‑value, structuring, and dislocation opportunities across credit markets.
Client Interaction & Commercial Focus
- Sit directly in front of clients alongside sales, contributing to trade design, pricing discussions, and execution strategy.
- Provide market colour, trade ideas, and structuring insight to institutional clients.
- Act as a commercially minded trading partner, supporting origination while maintaining disciplined risk management.
Platform Build‑Out
- Play a key role in the growth and development of the Structured Credit trading franchise in Europe.
- Contribute to product expansion, new trade types, and broader platform strategy.
- Work closely with sales, structuring, and senior management to scale the business sustainably.
Required Experience & Skills
Professional Background
- 7-12+ years' experience in structured credit trading, credit derivatives trading, structured finance, or structuring within a global markets environment.
- Exposure to both flow financing and complex structured credit trades is essential.
- Experience across CDS, structured credit, exotics, and lending‑linked structures strongly preferred.
Risk & Technical Expertise
- Strong, practical understanding of how risk actually behaves, beyond theoretical models.
- Ability to price, hedge, and manage complex structures through market cycles.
- Comfortable taking ownership of risk and P&L.
Commercial & Personal Attributes
- Commercially minded with strong client awareness.
- Comfortable engaging directly with clients and supporting sales‑driven activity.
- Not siloed; able to think holistically across products and structures.
- Entrepreneurial mindset with appetite to help build and grow a trading platform.
- Calm, disciplined risk manager with strong judgement under pressure.
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