Manager - Treasury, Capital Markets / Front Office

About the Company

About the Role

Responsibilities

• ● Execute interest rate swaps, cross-currency swaps and FX forwards across the bank's hedging programme.
• ● Price, negotiate and execute with dealers across the counterparty panel, and evidence best execution.
• ● Own the FX risk position - including the USD lending book and intragroup exposures - and produce the exposure and hedging analysis that supports ALCO and Board reporting.
• ● Monitor collateral and margin flows under CSA arrangements, including the liquidity consequences of adverse mark-to-market moves.
• ● Supports expansion and onboarding with additional counterparts.
• ● Work with Finance on hedge designation and supporting documentation.
• ● Execute the gilt and HQLA investment programme against Board-approved mandates, using asset-swap spread and relative-value analysis to inform selection.
• ● Maintain and extend the portfolio construction tooling, including duration, maturity-ladder and concentration constraints.
• ● Size and roll the Treasury bill programme against deposit deployment windows.
• ● Support oversight of the externally managed AAA CLO portfolio, including trend and spread analytics and preparation for quarterly manager review.
• ● Support expansion of the investment instruments to develop the liquidity portfolio.
• ● Support the origination and execution of capital instrument issuance - Tier 2 and AT1 - working alongside the Treasurer, CFO and external advisers.
• ● Build and maintain the analysis behind issuance decisions, including sizing, pricing benchmarks and comparable market levels.
• ● Contribute to the development of wholesale funding options as the balance sheet grows, potentially spanning senior unsecured and secured issuance and securitisation.
• ● Own USD liquidity end to end - determining how much liquidity is required in currency, and executing the cross-currency swaps that deliver it within Risk Appetite Limits.
• ● Set the sizing and collateral strategy for Bank of England repo facilities (ILTR and STR), instructing and reviewing rather than operating them.
• ● Steer the wider team on the analytical basis for funding and liquidity decisions, and review their output.
• ● Build, maintain and extend the desk's Python toolkit - pricing, sizing, limit monitoring and other analytics tasks.

Requirements

• ● Ability to build a working analytical tool using AI-assisted development and GitHub-controlled workflow.
• ● Ability to learn to build a working analytical tool quickly.