Fixed Income Repo Trader - VP
Fixed Income Repo Trading Mandate
Role Title: Vice President - Fixed Income Repo Tarder - Short-Term Bonds & Money Markets (Commercial Paper)
Location: London or Paris
Desk: Fixed Income Trading - Repo, Liquidity & Financing Solutions
Reporting To: Head of Fixed Income Financing
Mandate Summary
- Lead and expand short-term fixed income and securities financing activities across commercial paper, bank bonds, sovereign and emerging market debt, and repo instruments.
- Focus on liquidity management, collateral optimisation, and dynamic risk control.
- Operate at the intersection of trading, treasury, and asset management.
- Contribute to strategic desk direction, product innovation, and global collaboration.
Responsibilities
- Trade and manage liquidity across high-grade short-term instruments, including bank-issued commercial paper and short-dated bonds.
- Maintain and optimize the liquidity buffer on bank bonds in line with treasury and regulatory requirements.
- Monitor market conditions and funding spreads to identify relative value and arbitrage opportunities.
- Execute and structure repo transactions, stock lending, and Total Return Swaps (TRS).
- Develop forward-looking strategies to enhance yield and balance sheet efficiency.
- Engage with counterparties, clearing houses, and custodians to ensure smooth execution and settlement.
- Optimize collateral usage across jurisdictions, balancing cost, availability, and regulatory constraints.
- Collaborate with Asset Management teams to align liquidity and investment strategies.
- Partner with structuring, sales, and risk teams to deliver bespoke financing and hedging solutions.
- Support credit trading and sovereign bond desks with financing structures and liquidity management.
- Focus on European underlying, with selective exposure to US and Asian markets.
- Trade and manage risk across Sovereign and Emerging Market Bonds, including hard and local currency instruments.
- Monitor geopolitical and macroeconomic developments affecting global fixed income markets.
- Apply dynamic risk management techniques to monitor and mitigate market, credit, and liquidity risks.
- Develop and maintain pricing models and risk analytics for repo and financing instruments.
- Ensure compliance with internal risk limits and external regulatory frameworks (e.g., Basel III, LCR, NSFR).
- Contribute to trading strategy development, product innovation, and desk-level P&L growth.
Candidate Profile
- 5-7 years of experience in fixed income trading, repo markets, or short-term credit instruments.
- Expertise in securities financing, liquidity management, and collateral optimization.
- Strong understanding of credit markets, macro drivers, and regulatory capital frameworks.
- Proficiency in trading systems and analytics platforms (Bloomberg, Murex, Python, Excel/VBA).
- Excellent communication and interpersonal skills for cross-team collaboration.
- Entrepreneurial mindset with a proactive approach to identifying opportunities.
- Fluency in English required; French is a plus for Paris-based candidates.
- Degree in Finance, Economics, Engineering, or a quantitative discipline preferred.
What's on Offer
- Competitive base salary and performance-linked bonus structure
- Access to cutting-edge trading infrastructure and analytics tools
- Opportunity to lead and shape a high-performing financing desk
- Dynamic, inclusive, and intellectually stimulating work environment
- Career development support and global mobility opportunities
- Exposure to senior leadership and strategic decision-making
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