FOREIGN EXCHANGE TRADER

Company: Western Alliance Bank
Location: Boston
Posted on: September 28, 2024

Job Description:

Job Title: Foreign Exchange Trader Location: Boston What you'll do: This is an exciting opportunity for an FX professional to join Western Alliance Bank's growing foreign exchange team. The role will initially involve trade execution, position, and risk management, but there will be ample opportunities to move into other roles over time, based on your interests and performance. You will be responsible for opening our system for client trades at 8 am Eastern Time and provide pricing, execution, and support for our client-facing FX spot, forward and options business during east coast hours. Over the next year or two, we expect to expand our coverage from our current 10 hours per day to a continuous 24/5 capability.
You should be interested in and knowledgeable about financial markets in general, with demonstrated proficiency in FX across all major and emerging market currencies. Familiarity with market standard risk management, multi-dealer, and aggregation platforms, as well as information and pricing sources, including but not limited to Bloomberg and Refinitiv, would be a strong plus.
Western Alliance is one of the best performing banks in the country and we are expanding rapidly into new market segments and geographies; as a result, we see tremendous upside in FX and other fee income products. We have offices across the U.S. and have some flexibility around location for the ideal candidate but do view this as primarily an in-office role.
Finally, we are looking for a well-rounded individual; personable, strong work ethic, great verbal and written communication skills, the ability to work independently and think creatively when needed. If you feel you are a good fit, we would love to hear from you. What we are looking for:

• East Coast coverage and hours: 8 am Eastern start time (5 am Pacific).
• Launch our client-facing platform for trading at 8 am Eastern.
• Monitor, price, and execute trades (spot, forward, swaps, NDFs, options), cover risk.
• Assist with client-related matters as needed: Calls, advice, indicative pricing, market color and commentary.
• Produce internal reports and analysis, conduct research, back up other team members as and when needed.
• Build and maintain strong relationships with internal teams, clients, and other key stakeholders.
• Comply with regulatory, risk and compliance guidelines and adhere to best market practices, by being ethical and transparent in your interaction with all counterparties. Qualifications:
  • Bachelor's Degree from a four-year college or university and three (3) or more years of related experience and/or training; or a combination of experience and education.
  • At least 2 years in a trading or trading-adjacent role, with focus on foreign exchange, fixed income, structured products, equities, and/or derivatives.
  • An understanding of foreign exchange derivatives (forwards, time options/windows, swaps, NDFs, options); should ideally include pricing/valuation and an understanding of the mechanics and use case for each product.
  • Understanding of foreign exchange markets and concepts, including quoting and trading conventions, market structure (or lack thereof), nuances of specific currency pairs, major price and market drivers, etc.
  • Ideally a strong technical background, including an understanding of interest rate parity, forward curve construction, cross-currency basis, etc.
  • Familiarity with Bloomberg, Refinitiv's Eikon, or other market/business data platforms.
  • Some familiarity with execution/order management platforms such as Triton, Newport, EMSX/TSOX, REDI, CRD, SmartTrade or others would be desirable, even if they relate to asset classes other than FX.
  • Preferably some experience with FX-specific systems such as FXGO, FXall, 360T, as well as aggregation platforms such as Aphelion or Integral.
  • Understanding of execution tactics and tools, and the nuances of each: RFQ/RFS/ESP, algos, DMA, liquidity streams/pools and others. Compensation: Hourly range for new hires is generally $84,000.00 - $100,000.00 for San Francisco, CA. Salary amount is determined by specific job location. In addition, the role may be eligible for annual bonus/incentives earned. Benefits you'll love:
    We offer all the important things you'd want - like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you'll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career! About the company: Western Alliance Bank is a wholly owned subsidiary of Western Alliance Bancorporation. Alliance Bank of Arizona, Alliance Association Bank, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank are divisions of Western Alliance Bank; Member FDIC. AmeriHome Mortgage is a Western Alliance Bank company. Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email HR@westernalliancebank.com or call 602-386-2488. When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process. Western Alliance Bancorporation

Keywords: Western Alliance Bank, Boston , FOREIGN EXCHANGE TRADER, Accounting, Auditing , Boston, Massachusetts