PERM - Global Markets - Derivatives - Portfolio Analyst - AVP

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

Portfolio Analysis works alongside the Derivatives Trading Team to provide insight and understanding of portfolio dynamics, risk and valuation, adding global coverage and enhancing the operating profile of the business line.

The Team works across the full trade lifecycle, covering market data, price validation, trade lifecycle events, trading risk and scenario generation. The team is expected to own the validation and update of inputs to the SMBC pricing and revaluation systems (such inputs will include exchange prices, swap rates, spreads, vol and non-linear parameters - a technical understanding of these will, therefore, be required.)

The team will be responsible for daily review, validation and reporting of trade valuation, P&L, and risk. Input and amendment of trades into the SMBC systems may also be required on an ad hoc basis.

Involvement in other tasks related to the management of P&L and risk of the derivatives portfolio as the business expands, likely to include analytics libraries and methods, system upgrades and scenario modelling.

Business Area

The Derivative Products Group operates in London, New York, Frankfurt, & Hong Kong and trades 24 hours each business day.  The main activity of the Derivative Products Group is originating & trading interest rate & currency swaps and their related options. The London Group covers: the UK, Europe, the Middle East & Africa.  
SMBC-CM is a derivative products dealer whose primary market focus is fixed income and currency derivatives. 
SMBC-CM's current product line includes: 

• Interest rate swaps.
• Cross currency swaps.
• Caps and floors.
• FRA's.
• Interest rate options.
• Forward foreign exchange and FX options.

SMBC-CM also trades the following products (primarily for hedge purposes): 

• Government securities (such as US Treasuries, Gilts, Bunds etc.).
• Repos and Reverse Repos.
• Financial futures and options on exchange.
• Spot foreign exchange.

This role sits within the Derivatives front-office at SMBC Capital Markets Ltd and reports to the Head of London Portfolio Execution. Due to growth in business activities, there is increased requirement for effective controls on BAU resulting in the need for a London based Portfolio Analysis team.

Position Description

Accountabilities & Responsibilities

Run the Bank

• Daily input of market parameters: swap rates, spreads, cap/floor and swaption vols, prices of exchange traded securities of more than 25 currencies required for the daily valuation of the derivatives portfolio.              
• Provide analytical input to help explain the portfolio dynamics and P&L attribution.
• Daily input of new trades into the SMBC system as required for revaluation of the derivatives portfolio.  
• Ensure that all the market input parameters used for revaluation are maintained in the databases.           
• Ensure trades and their full life cycle are recorded and posted correctly in the trading system.                     
• Preparation of various month-end reports for internal and external reporting                                                      
• Participate in projects on process and operational risk improvements.

Change the Bank

• Valuation & risk representation for the trading desk(s) at appropriate forums to drive business and technology projects and programmes.
• Build and extend appropriate methodologies, desk tools and analysis frameworks.

Knowledge, Skills, Experience & Qualifications

• Ability to work effectively as part of a global team with consensus-driven decision making.

• Experience working with derivatives and other financial instruments.                                                  

• Understanding of valuation methodologies, P&L attribution and pricing models.

• Proficiency in Python, Excel and VBA. Software engineering mindset a strong plus.                                                         

• Project management, process mapping & documentation skills.

• Bloomberg and Refinitiv exposure a benefit but not essential.

• Prior experience of IPV/valuation/ market risk would be a benefit but not essential.

• A degree of flexibility is expected in working the hours that the business demands.

• The confidence to work under their own initiative, challenge status quo and innovate towards business goals.

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!!