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Head of Trading

Employer
State of Wisconsin Investment Board
Location
Madison, Wisconsin
Salary
Market Competitive
Closing date
May 9, 2024

View more

Job Function
Trading
Industry Sector
Asset Management
Employment Type
Full Time

Job Details

Our Agency

Making a Difference

The State of Wisconsin Investment Board (SWIB), founded in 1951, is a premier global investment organization responsible for managing the more than $145 billion of assets of the Wisconsin Retirement System (WRS), the State Investment Fund and other funds. Through SWIB’s effective and innovative investment management, WRS remains one of the only fully funded US public pensions. We are the 9th largest public pension fund in the U.S. and the 25th largest public or private pension fund in the world. SWIB is recognized by the investment industry for our teamwork and innovation. SWIB pursues sophisticated global investment strategies across the asset and risk allocation spectrum. Providers across the investment ecosystem seek to partner with SWIB.

Serving more than 663,000 teachers, public safety, and other pension participants, SWIB is a mission-driven organization. For public employees and the 1,500 Wisconsin employers who contribute on their behalf, we are a trusted partner. Our team innovates continuously to meet the challenges of an evolving investment landscape while growing and protecting the assets of the WRS.

SWIB provides a strong, steady economic pillar for the state of Wisconsin by growing the trust funds under its management, managing risk, and optimizing costs of the long term. We are a mission-driven organization and the participants we serve are our mission. By bringing a disciplined, prudent, and innovative approach to market opportunities, SWIB has been successful in generating required returns and maintaining the trust of the beneficiaries and stakeholders of the funds we oversee.

 

Home To Top Talent
Our high-performing staff is key to what makes us a premier investment manager. SWIB is committed to investing in talented professionals to implement our robust, sophisticated investment strategies and to keep the organization at the forefront of the investment industry. We encourage innovation and offer professional development opportunities to help staff sharpen and expand their skills. Approximately 61 percent of SWIB’s investment professionals are Chartered Financial Analyst (CFA) charterholders.

 

Position Overview

SWIB is seeking an individual to join the agency as the Head of Trading. The individual will work closely with the firm’s public equity teams, multi-asset teams, and fixed income teams to execute trades with multiple partners across the globe.  

 

Essential activities:

  • Develop and execute a strategic vision for the operation of SWIB’s trading desk
  • Provide direct management and oversight to a team of three additional traders
  • Execute global equity, foreign currency, futures, options, and other derivatives trades using a variety of methods, technologies, and electronic platforms
  • Proactively maintain strong relationships and collaborate with our investment teams across the investment process with respect to news, order instructions, changing market conditions, and transparent data analytics
  • Manage and ensure efficient/best execution of SWIB’s trades with a focus on minimizing execution costs, market impact, and information leakage
  • Oversee transaction cost analysis leveraging our internal API to synthesize data to provide more relevant insights on how the desk and investment teams can improve overall execution over time
  • Work collaboratively with SWIB’s investment and IT leadership team to ensure the desk has the infrastructure and trading architecture necessary to fully leverage all trading opportunities
  • Implement a variety of trading strategies and techniques that help achieve our strategic goals, including the use of algorithmic trading, dark pools, buyside-to-buyside crossing networks, and venue analysis
  • Develop clearly articulated controls to mitigate operating risk on the trading desk
  • Work effectively with the Investment leadership team, Operations, IT, and Compliance to oversee the trading desk and implement necessary changes

 

The ideal candidate:

  • Understanding of market structure (Europe, Asia, and U.S.), algorithmic trading, and trading securities of varying capitalizations and liquidities
  • Experience trading global equities, currencies, options, futures, swaps, and other derivatives
  • At least 10 years of experience working on a trading desk (buy-side preferred)
  • Proven track record of delivering both management of equity trading operations and delivering change in this space
  • Strength in shaping a technology strategy to drive innovation
  • Excellent interpersonal skills with the ability to engage and influence successfully a broad range of individuals
  • Proficiency in at least one programming language, such as MATLAB, R, Python, or C++
  • Proficiency with data platforms such as Snowflake
  • Proficiency with reporting tools such as Snowsight, PowerBI, and/or Tableau
  • Experience working in a global organization and implementing change with sensitivity to existing structures
  • Self-starter with the ability to think creatively and laterally
  • Ability to navigate a complex internal infrastructure that involves numerous groups and individuals to get things done
  • High service orientation with a collaborative, cooperative attitude
  • Ability to self-motivate, multi-task and work both independently as well as part of a team
  • Attention to detail and accuracy in work combined with a strong work ethic
  • Exceptional logical reasoning and analytical skills
  • Soft project skills and the ability to lead change initiatives managing deadlines, task lists, and coordinating activities across areas
  • Open-minded, logical, confident, highly ethical, creative, and intellectually curious
  • Demonstration of an appreciation for a diverse and inclusive workforce
  • Strong presentation and communication skills both written and verbal, with a data-driven focus

 

SWIB Offers:

  • Competitive total cash compensation including eligibility for long-term incentive compensation, based on AON (formerly McLagan) industry benchmarks
  • Comprehensive benefits package
  • Educational and training opportunities
  • Tuition reimbursement
  • Challenging work in a professional environment
  • Hybrid work environment          

 

The position requires U.S. work authorization.

Pursuant to our Hybrid Remote Work Policy, all staff have the flexibility to work remotely, but are required to have a weekly presence in our offices, the frequency of which is dependent on their distance from office. Staff are not required to reside locally; however, we offer relocation reimbursement to the Dane County area per our policy.

All SWIB employees are subject to SWIB’s Ethics Policy and Personal Trade Approvals Policy. These policies include restrictions on outside business activities and employment and have limits on personal trading.  You may request copies of these policies from SWIB’s talent acquisition team and any questions can be answered by SWIB’s compliance team.

Company

With approximately $117 billion in assets under management, the State of Wisconsin Investment Board (SWIB) is among the world’s largest institutional investors. Using a range of investment strategies across a spectrum of fixed income, equity, and private market asset classes, SWIB’s Core Fund has commonly beaten its benchmarks in the one, five, and ten year time horizons with a combination of internal portfolio management and allocation of assets to external managers. SWIB has an “analyst-centric” organizational structure and culture with an attractive career path for analysts. Analysts work on small, collaborative portfolio teams, and make significant individual contributions to their team’s investment decision process. SWIB’s incentive compensation plan rewards analysts based largely on the investment performance of their portfolio team.

Company info
Website
Telephone
608.266.2381
Location
4703 Madison Yards Way Suite 700
P.O. BOX 7842
Wisconsin
Madison
Wisconsin
53705
US

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