Director - Commodity Options Trading

About the Role

The Trading desk at Global Markets & Treasury supports internal teams and clients by leveraging expertise in various asset classes such as FX, Commodities, Credit, and Interest Rates. This position focuses on commodity options and structured derivatives globally. Key responsibilities include pricing, executing, managing risk, and strategically developing commodity option products.

Key Responsibilities

• Generate trading profits aligned with annual targets while adhering to risk limitations.
• Maintain precise volatility surfaces for relevant markets to ensure top-tier option pricing.
• Collaborate with Sales and Structuring teams by providing market insights, pricing, and product structuring aligned with client needs.
• Oversee and adjust the non-linear risk exposure of the business regularly to ensure effective risk management.
• Lead implementation of complex exotic products within front office risk management systems.
• Mentor and train junior team members as necessary.

Educational Requirements

• Undergraduate degree in STEM fields or economics/finance is required.
• Postgraduate education is preferred.
• Financial or quantitative certifications are advantageous.

Technical Knowledge and Skills

• Expertise in pricing and managing non-linear commodity products.
• Comprehensive system implementation skills involving model validation, back-testing, and performance attribution.
• Strong proficiency with quantitative models including Black-76, local volatility, stochastic volatility, Monte Carlo methods, and sensitivity measures (Greeks).
• Advanced commodity options pricing skills.
• Ability to construct and interpret volatility surfaces.
• Solid quantitative and statistical analytical capabilities.
• Proficiency in programming languages like Python, VBA, SQL, or analogous analytical tools.
• Experience using Bloomberg, Reuters, and institutional trading platforms.
• Familiarity with trading systems such as Calypso, Murex, Endur, or equivalents.

Behavioral Competencies

• Proven track record of managing commodity options trading profitably.
• Capability to work autonomously and handle work pressure effectively.
• Organized with skills to manage a small team or lead project initiatives as needed.
• Strong communication and interpersonal skills.
• Flexibility in working hours to support European and US market timings.