Senior XVA Trader
Updated: 21 Oct 2021
As Senior XVA Trader, your main role is to monitor,quantify and hedge XVA positions, execute appropriate hedges in the market and maintain positions within the agreed risk appetite/limits. Main products include FX, FX derivatives, rates derivatives, credit derivatives both single name and indices. The XVA Trading team is mandated to execute Risk Mitigation trades on XVA exposures, either on a single name basis, or on a portfolio basis. Also, either pro-actively where ING's risk appetite is smaller than our commercial ask or retroactively, where on existing exposure ING's risk appetite has reduced.
- Monitor closely positions on XVA and carry out market hedging activity linked to BVA/FVApositions.
-estimate the relative volatility of underlying positions and market hedges with as much precision as possible
-keep re balancing and optimizing hedges
-capture as much theta as possible
-optimise positioning of the book anticipating market movements & its impact on positions
- Maintain exposure within the limits described in the LCS and agreed risk appetite.
- Efficiently execute hedges internally or externally with market counter parties.
- Improve hedging activity by measuring high order sensitivities, x-gamma; propose system improvements and drive system developments.
- Keep up to date with market developments and Macro events that can affect the business (FM or WB). Make relevant proposals and follow the CEM governance manual in order to pursue approval and implementation.
- Sign off P&L of in scope books.
- Substantiate P&L impact of underlying risk factors and be able to explain moves to management and other stakeholders.
- Role model behaviour which includes Orange Code, and adhering and enforcing the Bank's policies and procedures.
A colleague with a talent for taking it on and making it happen, enthusiasm for helping others to be successful and a knack for always being a step ahead. In other words, you strive to bring fresh ideas to life and embrace challenges in a fast changing and complex environment. You are a naturally collaborative person who listens and invests in others to achieve common goals. You love to challenge the status quo and are eager to propose creative solutions to problems.
As a Senior XVA Trader you will also need:
- At least 5 years' experience in similar role
- Strong educational results
- Market expertise in CVA, Credit, FX and Rates trading
- Fluent in spoken and written English
- Strong analytical background
- Internal network within and outside Financial Markets
- External network
- Multi-lingual - ideally fluent in Dutch or French and in English
- Effective team player with good interpersonal and communication skills
- Thinking out of the box
- Results-oriented and stress resistant
- Eye for detail and accurate in work
A clear purpose, a unique offer and a range of flexible compensation and other benefits:
- A 40-hour working week
- Job grade 12/13 (depending on experience)
- An informal, dynamic working environment with innovative colleagues supporting your endeavours (Dealing room based in Amsterdam)
- A progressive and agile way of working, where new ideas are valued ahead of convention
Furthermore, within the Financial Markets department, you can count on a range of opportunities to invest in your personal and professional growth with:
- Possibility to participate in courses and trainings
- Challenging projects & a steep learning curve
Our client is ING, Financial Markets (FM) is the Bank's gateway to the professional markets around the world. The primary function is to service the needs of ING's clients with products, services and guidance. FM aims to be a significant player in our market leader and challenger markets, with an additional presence in all the major international markets and specialist expertise in selected emerging markets and products.