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Trader Associate

Deutsche Bank
Frankfurt am Main, Germany
Closing date
Mar 1, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Job Description:

The Deutsche Bank Collateral Optimisation Group (COG) sits within Core Rates Trading which is part of the Investment Bank (IB). The COG trading desk is responsible for the determination and delivery of the eligible assets to post against outstanding derivatives exposure, to mitigate and protect the bank from Counterparty Credit risk. The COG desk is responsible for ensuring the efficient posting of Collateral for all OTC Bilateral and Cleared derivatives traded by all derivatives trading desks across the IB with the mandate to optimise the Trading Profit and Loss, Balance Sheet and Infrastructure costs.

The desk liaises with the margin managers to ensure efficient allocation and substitution of collateral, as well as engaging with Sales and Trading to look at new client transactions where the eligible collateral is a key factor in the possible structure.

Key responsibilities:
  • Day to day management of the Collateral posted both to the Bank's bilateral counterparts and Central Counterparty Clearing Houses (CCPs)
  • Understand the balance between cheapest to deliver and balance sheet impact in order to ensure that Collateral received from third parties is used efficiently, and at the same time ensure that Collateral posted to third parties (including CCPs) is the cheapest to deliver
  • Evaluating assets that are posted/received, along with evaluating the options available and choosing the path that creates the right mix of cost/balance sheet efficiency for the Bank
  • Taking ownership of P&L and balance sheet to constantly endeavour to minimise cost
  • Help evolve the Collateral function to face incoming regulation and market structure changes
  • Responsible for managing the balance between algorithm driven optimisation and client expectations
  • Making a positive impact on the Bank's PnL and balance sheet by working with Trading, Sales, Strats, Operations and Information Technology to improve delivery of a more efficient Collateral solution for the Bank
You will have:
  • Knowledge of products such as OTC across Rates, Credit and Equities
  • Understanding of yields and cheapest to deliver to optimise securities pledged/received
  • Knowledge of asset classes/market conventions for Collateral types
  • An understanding of Repo/Reverse Repo and Money Markets (Loan/Deposits) trading
  • Ability to work strategically to solve problems in a complex Global environment
  • Relevant education such as a Bachelor of Science (BSc)/Master of Science (MSc) or the equivalent work experience or qualifications
You will be:
  • Highly motivated
  • Proficient in the use of Microsoft Excel, PowerPoint and other relevant analytics tools
  • Able to work in a team environment as well as independently
  • Able to take ownership and work to deadlines
  • A creative problem solver
  • An excellent communicator in both written and verbal forms
Our values define the working environment we strive to create - diverse, supportive and welcoming of different views. We embrace a culture reflecting a variety of perspectives, insights and backgrounds to drive innovation. We build talented and diverse teams to drive business results and encourage our people to develop to their full potential. Talk to us about flexible work arrangements and other initiatives we offer.

We promote good working relationships and encourage high standards of conduct and work performance. We welcome applications from talented people from all cultures, countries, races, genders, sexual orientations, disabilities, beliefs and generations and are committed to providing a working environment free from harassment, discrimination and retaliation.

Visit Inside Deutsche Bank to discover more about the culture of Deutsche Bank including Diversity, Equity & Inclusion, Leadership, Learning, Future of Work and more besides.

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