Foreign Exchange Trader Job Description
Foreign exchange trader
provides leadership for all aspects of day-to-day FX operations from execution to settlement, including use of multi-bank trading platform.
Foreign Exchange Trader Duties & Responsibilities
To write an effective foreign exchange trader job description, begin by listing detailed duties, responsibilities and expectations. We have included foreign exchange trader job description templates that you can modify and use.
Sample responsibilities for this position include:
Actively ensure compliance with all US Bancorp policies and procedures such as Code of Ethics and all Anti-Money Laundering, Bank Secrecy Act, information security and suspicious activity reporting requirements
Quantitative and qualitative analysis on markets and trade ideas (generally via excel)
The person for this particular role should also have strong options experience and knowledge of options theory
Fluent English and Russian are required, knowledge of German is a plus
Assist GCM Texas Market and senior corporate traders in the sales and trading of all customer related Foreign Exchange (FX) or IRD products along with structuring risk management strategies/programs to assist clients in mitigating their companies FX or IRD risks, FX Forwards, FX Options, IRD swaps
Candidate would have a strong commodities background (ideally actual trading and/or sales experience in commodities)
In addition, our ideal candidate would have some background in Latin American markets and speak Spanish and/or Portuguese
Understanding of market risks from a pricing and execution perspective
Advise clients of the private bank on FX, Commodity and Interest Rates markets
Price and execute FX, Commodity and Interest Rates trades (Spot, Forward, Derivatives, and Structured Products) for clients of the private bank
Foreign Exchange Trader Qualifications
Qualifications for a job description may include education, certification, and experience.
Education for Foreign Exchange Trader
Typically a job would require a certain level of education.
Employers hiring for the foreign exchange trader job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Finance, Economics, Business, Education, Doctor of Philosophy, Science, Statistics, Mathematics, Trades, Engineering
Skills for Foreign Exchange Trader
Desired skills for foreign exchange trader include:
Options theory
Aspects of equity trading/compliance
Excel
Financial derivatives and options theory
Outlook
PowerPoint
With an ability to work with the team to structure customized OTC structures and solutions
Word
Bank Security and other regulations that apply to your position
Practices and documentation
Desired experience for foreign exchange trader includes:
Must be eligible to work in USA - New York
Options background - work and/or academic - required
Develop and present on investment ideas based on analysis of Macro markets
Partner with global trading teams in Baltimore and London to access liquidity and support the trading/investment process
Execute trades across Asia Pacific fixed income sectors
Execute spot, forward and options strategy trades
Foreign Exchange Trader Examples
1
Foreign Exchange Trader Job Description
Job Description Example
Our company is growing rapidly and is hiring for a foreign exchange trader. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for foreign exchange trader
- Work with international offices on fixed income and foreign exchange process
- Develop and implement innovative Relative Value strategies in order to help leveraging the franchise core business via both more efficient hedging and greater added customer value trade ideas
- Help the firm build out our presence in the Russian Federation and Eastern Europe supporting the local sales
- A University degree within a mathematical field
- Track record of having worked with the Russian market
- An extraordinary track record, with a proven ability to generate revenues from smart focused taking around core franchise activity
- Consistent and proven Profit & Loss generation
- Highly motivated and result-oriented individual
- At ease in a formal mathematical setting and proficient in main programming languages such as C/C++, Java, VBA
- Advise clients of the private bank on FX, Commodity and FI derivatives markets
Qualifications for foreign exchange trader
- Bachelor’s degree and a minimum of 5 years’ relevant trading experience in Asian credit and/or rates market
- MBA, MS or CFA (or in progress) preferred
- FX experience preferred
- Ability to work as part of a team of portfolio manager, analysts, and traders
- Conduct prudent risk-management of the portfolio, including identification of short- and long-term risks, dynamically hedging various underlying exposures, and remaining within the prescribed risk-limits
- Support the desk head with project management assignments
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Foreign Exchange Trader Job Description
Job Description Example
Our company is looking for a foreign exchange trader. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for foreign exchange trader
- This position directly quotes prices, sells and markets Foreign Exchange or Interest rate derivative (IRD) products and commits the bank to off-balance sheet risks to a wide variety of bank clients following the Global Capital Markets (GCM) Discretion Operating Standards Policy
- Actively manage a defined and prospective base of clients to generate new business and to maximize non-interest income (NII) commensurate with bank risk appetite
- Knowledge to cross sell FX products to assist other GCM corporate sales staff in the business development efforts
- Maintain risk control of customer IRD and FX positions and all trade offset management
- Develop expertise in all trading room systems, operations and accounting system updates
- Develop expertise in all related GCM back office and middle office operational
- Take a strong interest in being a self-starter when it comes to training and education for future professional development through industry and bank learning education
- Responsibility for direct IRD NII generation along with individual NII sales targets
- Direct collaboration with RM's within your coverage area for training and new business development for FX
- Maintain a high level of accuracy for all trades to limit bank's exposure due to input error
Qualifications for foreign exchange trader
- Ability to function in a typical office environment, engaging in activities such as writing, typing, walking, standing, speaking, listening, lifting (up to 25 pounds), carrying, reaching, kneeling
- Help leading the Quantitative and IT development efforts
- Develop and implement innovative RV strategies in order to help leveraging the franchise core business via both more efficient hedging and greater added value trade ideas
- Help the growth of the firm’s E-Commerce options business, both from the strategic and the technological side
- Operate with the highest ethical standards and practice responsible finance
- Ensure compliance with trading limits and controls as set by the business
3
Foreign Exchange Trader Job Description
Job Description Example
Our innovative and growing company is looking for a foreign exchange trader. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for foreign exchange trader
- Consistently adhere to the banks know your Customer (KYC) and Anti money Laundering (AML) goals and policies per bank Risk Discretion policies
- Maintain and report Risk Control, credit controls, error resolution
- General administrative duties as needed
- You will do market making on currency options during the North American time zone mainly in CAD
- Manage the risks of the option book
- Develop new types of options to address client`s requirements
- Promote synergies within the bank by sharing ideas and knowledge with colleagues and management to further promote the Group
- Be a professional and have a positive attitude
- Maintain risk control of customer and FX positions and all trade offset management
- Maintain and report Risk Control, credit controls, error resolution, General administrative duties as needed
Qualifications for foreign exchange trader
- Consistent and proven P&L generation capabilities
- IT literate and proficiency in main financial software packages
- Bachelor's degree from an accredited university in Finance, Economics or related business
- 3 years of experience in marketing and/or sales and client experience in Foreign Exchange or Capital Markets
- 1 year of experience in Market Risk management
- 3 years of experience in corporate macroeconomic systems analysis
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Foreign Exchange Trader Job Description
Job Description Example
Our growing company is hiring for a foreign exchange trader. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for foreign exchange trader
- Oversee the local forward Euro and GBP forward books
- Quote the European customer base spot and forward FX managing the resulting risk
- Manually manage any orders not viable for entering into the eFX Platform worked orders, stop loss orders
- Interact with the eFX platform and direct flow into the system where possible
- Manage client Spot S/L and T/P orders in the order management system
- Be a key part of the client optimization process, reviewing analytics data with the Quantitative team and Sales to make client tiering decisions to optimize revenues
- Take intraday and overnight risk if appropriate
- Communicate customer interest with traders in other centers
- Work closely with local Sales to deepen further client relationships
- Monitor and adhere to local trading limits
Qualifications for foreign exchange trader
- Minimum 5 years trading experience mainly in FX options combined with a very strong quantitative background
- Algorithm trading knowledge (a plus)
- Proven track record of returns and stress management
- 5 years of experience in trading and client experience in Foreign Exchange or Capital Markets
- 5 years of experience in a senior sales role with direct experience working with high level management
- 2 years of sales and/or trading in Foreign Exchange or Commodities
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Foreign Exchange Trader Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of foreign exchange trader. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for foreign exchange trader
- Helping to manage the risk and operating the eFX trading platforms in real-time
- Completing trades to balance the banks internal trading counterparty positions and working with clients on quoting and the execution of forward contracts
- Responsible for updating the DTCC website to ensure Dodd-Frank requirements are implemented
- Process various monthly reports and update/create other reports as necessary
- Release all outgoing wires before the end of day
- Provide customer service to clients via phone or email
- Manage Foreign Exchange payments and hedging contracts
- Monitor and trade currency position during trading hours with authority limits
- Book and verify trades on SwapsTech system
- Monitoring trading positions during trading hours, Online banking, eFX, Booking (or verifying) each trade in the FX system, and expertise of SWIFT
Qualifications for foreign exchange trader
- 2 years of experience in a Capital Markets related role
- 2 years of experience utilizing Microsoft Office Products
- Strong team player, determined to optimize the overall spot and forward revenues for the bank
- Comfortable with change, being curious and open minded
- Successfully completed Bachelor’s and/or Master’s degree or comparable education
- Experience in data analysis via Qlik and coding in FX options desirable