Associate Trader, Portfolio Mgmt, EMEA

Purpose of Job

The Associate, Portfolio Management EMEA is a junior financial markets person who is responsible under supervision and guidance of the Director or the Associate Director for assisting the development of the Bank’s local currency financing capacity and the management of financial risks in designated currencies. In the most developed markets, the role will mainly focus on the management of the Bank’s market and structural risk in FX and interest rates as well as the liquidity and funding exposures, within the constraints of managing a mark-to-market book with P&L targets.

Given the underdeveloped nature of most local currency markets in which the Bank operates, the role goes well beyond managing local currency financial and market risks. Under the guidance of the Director or the Associate Director, the role also involves helping:

• develop further both the internal and external framework to expand the Bank’s capacity to manage local currency market risks and offer local currency products meeting clients’ demand.
• provide specialised financial guidance on what loan and bond features the Bank can offer to its clients in each local currency.

The Associate, Portfolio Management EMEA is expected to perform the following duties under supervision and guidance from the Director and other team members:

• The management and provision of liquidity in support of the Bank’s local currency lending activities. Crucially this risk comprises both the market risks and the liquidity / cash management risks of the Bank. It is the function of the desk to manage these risks, and where relevant run its own risk in pursuit of its P&L targets.
• Defining, designing and improving local currency loan and bond features that can be offered to clients, ensuring they meet as closely as possible demand in each market.
• Developing further both the internal and external framework to expand the Bank’s capacity to manage local currency market risks and offer local currency products meeting clients’ demand. Developing the external framework requires policy dialogue with domestic authorities (mainly central banks) and stakeholders to develop new products or enhance domestic markets.
• Help to manage and analyse the risks for their currencies, and prepare any daily and ad‑hoc reports as required, particular focus is likely to be given to the risks associated with cash management so that the Associate can begin to understand the mechanics of their markets.
• Understand and learn about the investment strategies implemented on the desk.
• Help in the tracking of all relevant developments in their own market.
• Help expanding the framework necessary to manage the local currency funding and lending books. This will imply negotiating legal agreements and seeking necessary approvals so that EBRD can be in a position to access domestic markets.
• Manage and develop local currency financing capacity to support banking activity and meeting the P&L target set for a specific set of currencies and/or;
• Begin to develop their own relationships with both international and domestic market counter parties.
• Develop relationships internally with all relevant departments to facilitate and improve business.

• Prior financial markets experience ideally in a major financial institution
• An established knowledge of interest rate & FX markets, their dynamics and inter‑linkages, preferably gained via trading / execution or a Treasury role is desirable.
• A strong understanding of all relevant products is desirable: vanilla interest rate derivatives (IRS, OIS, FRAs, Futures, & options); FX spot, fwd & swaps; cross currency basis swaps, single currency basis swaps;
  Repos, MMKTs and the trade life cycle.
• Strong analytical skills and ability to interpret macro‑economic and financial information.
• Ability to help find and secure donor funding, and previous experience with managing TC projects and donor funding is a plus.
• Strong technical skills in the use of all relevant systems:
  Bloomberg, Excel (some VBA), Summit, Reuters dealing & Eikon, Powerpoint, Outlook, and other systems as relevant.
• Bachelor’s degree.…