Director, Head of FX Strategy and Trading
Employment Type: Full-Time
The Director, Head of Foreign Currency Strategy and Trading, will report to the Head of General Account Hedging. He or she will manage all aspects of Foreign Currency Spot, Forward, and Options trading platform. The selected candidate will work closely with Treasury, Accounting, Risk, IT and Legal and, will also have the opportunity to work with risk management, ALM, finance, among others and gain broad exposure across the organization. Working closely with the Variable Annuity hedging team, the Director will manage FX exposures and coordinate with the GA hedging team members to manage swapped bond programs and other initiatives. He or she will work closely within the larger Derivatives Unit and with constituents throughout the firm to develop strategy, execute and manage FX programs. The selected candidate will advise and assist on hedge program development and market our services to internal and external clients. This leader will develop and publish strategy pieces to be distributed internally and externally. He or she will participate in committees to develop and oversee FX policies and exposures across the firm. The successful candidate will possess a superior understanding of FX markets, the derivative instruments used to manage FX risk, and the accounting and regulatory environments in insurance and asset management. He or she will work well both independently and within a group to drive new programs and maintain existing initiatives, including developing, writing, and presenting strategic views on FX that lead to actionable hedging or trading opportunities. The FX Trading and Strategy area share a resource with the Short Term Trading unit and a team of six analysts who support the full Derivatives and Liquid Markets area. Key Responsibilities: FX Strategy Develop hedging strategies and solutions, including pre-trade analysis and modeling; measure hedge program performance Develop FX strategy pieces and publish position papers on a regular basis FX Trading Manage and execute hedges for all FX hedging programs, seeking to minimize execution costs and maximize alpha generation opportunities Manage FX execution platform vendor and work with the vendor to continue to enhance the platform Perform pre-trade analysis and modeling Monitor, analyze, and report on risk positions and P&L Prepare position reporting and ad-hoc risk analysis Report hedge program performance to management Leadership Develop and grow junior talent Provide project leadership for some of the Unit’s strategic initiatives, as needed Partnerships Develop and grow internal and external partnerships with key stakeholders, including: Assist in 3rd party asset management marketing efforts as needed Develop relationships with sell-side traders and salespeople Work cross-functionally with diverse teams, including Investments IT, Treasury, Risk Management, ALM, Middle Office, Accounting and Portfolio Management Attend and present at trader meetings Key Relationships: Reports to: VP, General Account Rates and Currency Hedging Direct Reports: Indirectly manage a team of 2 (a shared resource with Short Term Trading Desk) Other Key Stakeholders: International and Domestic Treasury & Finance, Portfolio Management, FX Committee Members, MIM Sales and Business Development, Mergers and Acquisitions, Regional CIOs and Regional Business Leaders; Investments IT, Risk Management, ALM, Middle Office, Accounting Candidate Qualifications: Essential Business Experience and Technical Skills: Minimum 8+ years of FX trading experience required Significant FX strategy experience required Options trading experience required Experience developing hedging solutions a plus Undergraduate degree required, MBA or equivalent preferred Strong quantitative and analytical skills required Strong interpersonal skills required. Excellent communication skills; ability to express complicated methodologies to the business stakeholders. Strong verbal and written communication skills required Must be detail-oriented with strong time management and prioritization skills; ability to work independently is essential Leadership Competencies: Creates Partnerships - Authentically builds trusted relationships and collaborates across global, diverse and multi-functional teams to successfully drive business objectives. Seizes Opportunity - Seeks new opportunities and ways to create balanced business growth while improving operational capabilities. Grows Talent - Inclusively and pro-actively develops talent, empowers individuals and manages diverse teams to drive engagement and performance. Models our Values - Creates a culture that promotes the company’s values and standards through role modeling, accountability, and ownership of decisions. Thinks Strategically – Sets direction aligned to the company’s strategy, applying an external and global perspective to meet local and global needs. Must be a creative and innovative thinker who can bring thoughts to actions Motivates People – Gains people commitment to achieve business objectives through clear communication of the company’s vision and flexing leadership styles to inspire high performance. Focuses on Customers – Promotes customer centricity and ensures focus on creating great customer experiences to achieve competitive advantage. Drives Results – Sets aggressive goals and is accountable for continuously driving improved performance, leading change and ensuring high standards. Consistently strives for continuous improvement. Analytical approach to problem-solving.
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