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Vice President, FX Trading, Financial Markets - North America

Employer
Lloyds Banking Group
Location
New York, USA
Salary
Competitive
Closing date
Jul 12, 2024

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Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Overview

Lloyds Overview:

Lloyds Bank Corporate Markets, plc ("LBCM") forms an integral part of Lloyds Banking Group, a UK-focused retail and commercial bank with more than 30 million customers globally. We have been operating in North America for over 100 years, providing a client-focused approach for global businesses with strong links to the UK. Our New York operations provides a gateway between the UK and North America for financial institutions and large corporate clients, offering core banking products such as lending, trade finance and a range of debt capital and financial markets services through our US broker dealer, Lloyds Securities Inc.

Lloyds Bank is committed to attracting, retaining and developing the best talent in the industry and embracing the diversity of our people. We offer our colleagues ongoing training, development, mentoring and networking opportunities, as well as competitive benefits and vacation leave. We are dedicated to working with our community and offer a range of volunteering and fundraising activities throughout the year.

Diversity and inclusion are a part of who we are at Lloyds Bank. Lloyds North America strives to create a culture where every individual feels included, and empowered to be their best. Providing equal employment opportunities to all applicants and employees without regard to race, color, religion, creed, gender, gender identity or expression, age, national origin or ancestry, citizenship, disability, sexual orientation, marital status, pregnancy, veteran status, membership in the uniformed services, genetic information, or any other class protected by applicable law.

Lloyds values diversity in all backgrounds and experiences and wants their employees to bring their "whole self" to work!

Reasonable Accommodations for Qualified Individuals with Disabilities During the Application Process Lloyds North America is committed to providing reasonable accommodations for qualified individuals with disabilities in our job application process. If you have a disability and require a reasonable accommodation in order to participate in the application process, please contact our Human Resources Dept at: NRHR@lbusa.com.

Role Overview:

This role will support the Senior Trader in handling and increasing the FX and Rate derivative and cash product franchise. Job would include working with the sale force by providing pricing to clients, running trading portfolios and improving profitability within risk limits. A key contributor to the overall funding model of the LBCM.

Responsibilities

Key Tasks and Responsibilities of the role include, but are not limited to:
  • Handle Risk in a principled and optimized manner within the Firm risk limits
  • Support the Franchise by providing prices to clients in FX and Rate cash and derivative instruments
  • Provide market commentary to clients and internal partners
  • Flexibility in covering APAC sessions for a few weeks a year
  • Maintain liquidity ratios in accordance with local regulatory and LBCM internal policies
  • Support and maintain relationships with a wide range of key customers, suppliers and colleagues to acquire / exchange information
  • Lead, empower, develop and appraise own team so that their individual and collective performance is of the required standard and meets the current and future needs of the business
  • Respond, at the request of the Head Trader, to Head Office and local auditors as well as FRB and State examiners during on-site reviews to achieve strong ratings for Front Office Dealing Controls
  • Provide input to business strategies and direction taking into account commercial business requirements as well as related risks and controls
  • Line Managers ensure that BSA/AML and Sanctions elements are incorporated into role descriptions and the Balanced Scorecard of the appropriate colleague(s).
  • Responsible for knowing, understanding, and aligning with all Bank and governmental rules and regulations that apply to their job (details of such can be acquired from the employee's supervisor and/or Local Compliance Dept).

Qualifications

Education and experience required:
  • Undergraduate degree or equivalent experience
  • A thorough understanding of the financial services industry, regulatory changes and pertinent economic and political factors
  • Validated knowledge in trading emerging market NDF
  • Confirmed trading experience and management potential with the ability to empower others towards achieving common goals
  • Able to develop strong working relationships with internal and external customers
  • Able to communicate sophisticated issues and procedures verbally and / or by producing detailed reports, adapting the style and content according to the target audience
  • Strong analytical skills, able to connect with IT and Quant partners
  • Good understanding of macroeconomics
  • Prior experience in trading FX and Rate products required
  • US Series 7
  • Expectation to complete the UK certification as needed by role

Key skills and knowledge required:
  • Comprehensive knowledge and wide practical knowledge of the relevant procedures, products and services within Money Market, FX and Derivative markets including interpretation and application of standard processes and the ability to immediately recognise the full range of options when matching these to business / customer needs.
  • Consistent record of handling and executing basic foreign exchange spot, FX swaps, interest rate swaps and cross currency basis swaps
  • Knowledge of FX options and other structured products
  • Familiarity with market standard technology
  • Ability to dynamically prioritise workflow and run multiple processes simultaneously
  • Strong verbal and written communication skills
  • Ability to proactively handle tasks and issues
  • Organizational awareness
  • Strong work ethic, detail orientation and team player

This role is subject to the terms of the Senior Managers, Senior Insurance Managers and Certification Regimes as required by UK financial industry regulators (FCA & PRA).

Salary Range: $170,000 - $210,000

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