Commodities Middle Office – Pricing & Risk recruitment
Overview
This role would join the London analytics middle office team within commodities. The role involves developing a detailed understanding of the pricing models used by the commodities trading desk, and applying this knowledge in a variety of control functions around the exotics trading activities within commodities. The role also involves providing analytic support within product control, and working with exotics traders on analysis projects to aid new or existing business development.
Role details
- Providing due dilligence work to grant pre-trade approval to front office on new exotics business.
- Assisting more senior members of the team on development of new reserving techniques, or performing observability assessments on illiquid market data.
- Reviewing structured trades and OTC exotic transactions to ensure trade payoffs are correctly structured within exotic trade capture systems and that pricing models are appropriate.
- Assisting more senior members of the team on application of model controls and calibration.
- Providing expert systems knowledge to investigate and remediate issues with commodities EOD PV and risk batches, ensuring that accurate PV and risk was provided to both Trading and Product Control.
- Performing monthly pricetesting on exotic derivatives.
Candidate requirements
2:1 degree in a science or maths degree. Strong preference will be given to PhD graduates or candidates who have completed MSc’s in mathematical finance or CQF. Prior experience in commodities, or working with exotic derivatives would be an advantage but is not essential.
The successful candidate will need to demonstrate an ability to be highly proactive, with the excellent problem solving skills and execution focus needed to thrive in a fast moving front office facing role.
The role requires balancing the importance of facilitating trading activities with the necessity of maintaining a robust control environment. The successful candidate will be able to demonstrate the positive attitude and strong communication skills needed to provide this balance.
The successful candidate will demonstrate a keen interest in understanding complex pricing techniques for exotic derivatives. All candidates can expect to undergo a detailed technical interview where they will need to demonstrate understanding of stochastic calculus and its application in modern derivative pricing techniques.
- If the candidate has prior experience with exotic derivatives then they will need to demonstrate in interview a thorough understanding of the products they have worked with and the mathematics underpinning their pricing.
- If the candidate does not have prior experience they will be expected to perform pre-reading on the subject prior to interview and demonstrate a good understanding in interview.