Director - Commodity Options Trading

Organization Unit Purpose

The Trading desk within Global Markets & Treasury supports internal business areas and clients of the franchise by providing expert knowledge of their asset class and access to global markets.

Asset classes traded within the Trading Desk are, FX, Commodities, Credit, and Interest Rates.

Job Purpose

The Commodity Options Trader will be responsible for pricing, execution, risk management, and strategic development of commodity options and structured commodity derivative products across global commodity markets. The role requires deep expertise in commodity volatility markets, options pricing, volatility surface analysis, structured solutions, and portfolio risk management.

The individual will actively manage non-linear risk exposures, provide pricing and hedging solutions to corporate and institutional clients, support the structuring and sales teams in originating commodity-linked transactions, and contribute to the growth of the bank's commodity derivatives franchise.

This is a senior role for candidates with a demonstrable track record of trading multi-commodity option books.

Primary expectation of the role is revenue generation from proprietary risk-taking and customer facilitation activities.

Job Content

Key Deliverables

• Trading profit to meet annual target given risk constraints
• Maintaining accurate volatility surfaces for all in-scope markets and ensuring best-in-class pricing of options.
• Support the Sales and Structuring Desks using appropriate communication skills. This support will range from market commentary, pricing, and structuring of products subject to client needs.
• Monitoring the overall non-linear exposures of the business including risk management and rebalancing.
• Lead the front office implementation of exotic products in risk management systems.
• Train junior members as appropriate.

Education

• Undergraduate degree in STEM discipline or economics/finance.
• Post graduate degree preferred.
• Financial / Quantitative certifications preferred.

Job Knowledge

• Ability to price non-linear products & manage the risk internally.
• Full scale system implementation skills for non-linear products including model validation, back-testing and attribution analysis.

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• Strong understanding of: Black-76, Local volatility models, Stochastic volatility frameworks, Monte Carlo pricing methods, and Greeks and risk sensitivities

Skills

• Advanced commodity options pricing expertise.
• Volatility surface construction and interpretation.
• Strong quantitative and statistical skills.
• Python, VBA, SQL, or similar analytical programming experience.
• Bloomberg, Reuters and institutional trading platforms experience.
• Familiarity with Calypso, Murex, Endur, or equivalent trading systems.

Behavioral Competencies

• Demonstrated profitability managing commodity options books
• Ability to perform independently. Display an ability to work under pressure.
• Well organized and able to manage a small team or lead ad hoc projects as needed.
• Strong interpersonal and communication skills.
• Flexibility in working hours to accommodate EU/US working day.