Head of XVA Trading - Executive Director
London, LND, GB, EC2M 2AT
SMBC: A trusted partner for the long term
Here at SMBC Group, we want to help you find the next step in your career so read on to discover if this opportunity is the one for you. We like to recognise potential in our people, so we welcome your application even when your experience doesn’t perfectly align with the job description. Whilst we’ll always strive to be better, we’re proud of our inclusive culture, and encourage our applicants and colleagues to be their authentic, unique selves.
Who we are
United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.
Role Summary
Is the next step in your career at SMBC Group EMEA? We’re looking for a Head of XVA Trading team (Executive Director) for our Macro Rates Group, Sales & Trading to join our team.
Lead the XVA Trading function for SMBC-CM in London as the front-office subject matter expert for portfolio- and trade-level xVA, including CVA, DVA, FVA, MVA and KVA. The role owns desk strategy, risk, pricing and P&L delivery, while driving model and infrastructure enhancements and coordinating with global XVA teams to optimise risk-adjusted returns within strong control and regulatory standards.
ESSENTIALS OF THE ROLE
(1) define and execute XVA desk strategy, risk appetite and product focus aligned to Macro Rates Group and firm-wide objectives;
(2) own daily management of XVA risks, sensitivities, basis risk and right-/wrong-way risk within approved limits and governance;
(3) lead London XVA desk and work with global XVA desks, Derivative Trading, Marketing, Risk, Model Validation, Treasury/ALM, Product Control, Legal, Compliance, Operations and Technology.
REQUIREMENTS
(1) extensive hands-on xVA pricing and hedging experience across rates, FX and credit markets;
(2) proven execution in instruments used to hedge xVA, including IRS, CCS, options, CDS/indices, futures, repos and FX;
(3) strong quantitative, analytical and leadership capability, with practical ISDA/CSA knowledge, senior stakeholder influence and experience driving change across modelling, systems and governance.
Business Area
Macro Rates Group. The XVA Trading desk operates within a global 24-hour model across London, New York and Hong Kong, with the London desk primarily pricing and managing xVA risks and positions for the CM Ltd entity. Product coverage for pricing, hedging and risk includes interest rate swaps, inflation swaps, cross-currency swaps, caps/floors, FRAs, interest rate options, forwards/FX options and, primarily for hedging, government securities, repos/reverse repos, listed futures/options and spot FX. The role interacts closely with Global XVA Trading, Derivative Trading and Marketing teams, Risk Management, Model Validation, Product Control, Treasury/ALM, Legal (ISDA/CSA), Operations, Compliance and Technology.
Position Description
Head of XVA Trading team, under Macro Rates Group in Sales & Trading
Competencies
What we offer
For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.
As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you:
- Hybrid and flexible working
- Competitive paid leave days
- Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance
- Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services
- Access a wide range of learning and development opportunities and career progression opportunities
- Ambitious remuneration package
So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!!
We recognise our role as a bank to support social change and welcome all applications, including those from groups often under-represented in financial services. We value the uniqueness of professional and personal, backgrounds and perspectives as they play a vital role in continuing the sustainable growth of our organisation. We’ll ensure reasonable adjustments to our recruitment process are offered due to a disability or long-term condition whenever requested.
We are committed to transparent and equitable pay practices. Compensation is determined using objective criteria, including skills, experience, and role responsibilities, and applied consistently throughout our recruitment processes. We do not request candidates' pay history and are committed to preventing unjustified pay disparities.