Friday, April 24, 2009

Head Trader

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Description

The State of Wisconsin Investment Board (SWIB) is seeking a new Head Trader to lead its three-member trading team, due to the incumbent’s retirement. SWIB is undertaking an ambitious plan to transition its public equity investments to global portfolios. This shift will result in a significant increase in international trading, with an increased exposure to and need to manage foreign currencies. SWIB is also significantly increasing its use of various derivative instruments, including futures and options. The new Head Trader will play critical roles both in managing the trading team, and in developing the team’s capabilities to trade these instruments.

Responsibilities will include:

• Managing the trading team to ensure advanced strategy development, best execution, appropriate workflow and trading room coverage, and staff training and development.
• Researching and implementing procedures to capture alpha in all markets by utilizing past transaction information as a predictor of future trade implementation strategies. Research will include heavy quantitative analysis requiring strong mathematical, statistical, and economic training.
• Consulting with and advising portfolio managers and senior analysts to ensure timely and optimal execution of all trades, and to identify unplanned securities purchase and sale opportunities.
• Providing leadership as a subject matter expert in trade execution for foreign currencies and for various derivatives, including futures and options; and developing the rest of the trading team’s trade execution capabilities for these instruments.
• Monitoring and researching all current and upcoming trading and information systems to maintain maximum efficiency of trading tools.
• Managing broker relationships aggressively by reducing commissions and implementing broker feedback loops.
• Establishing a foreign exchange workflow leveraging technology to access liquidity and reduce execution costs.
• Monitoring and analyzing the trades, trading systems and policies of SWIB’s external investment managers.

This is a Full-Time, Direct-Hire opportunity. If you would like to apply, email your resume to [Click Here to Email Your Resumé] for consideration. All questions should be directed to QTI Professional Staffing at 608-232-2650.

Requirements

Ideal candidates will have:

• A Bachelor’s in business, finance, economics or similar degree required. Master’s degree with an investment or financial focus preferred.
• CFA certification preferred.
• Significant trading experience with multiple asset classes and instruments including equities, derivatives, and foreign exchange.
• Strong international trading experience in multiple markets including Europe, the Pacific Rim, and the Americas.
• A track record of success in management, mentoring, training and development of trading staff.
• Strong, honest and direct communication skills, with the ability to clearly and quickly communicate ideas and recommendations verbally and in writing to all levels of staff, management and board members.
• Comfort taking initiative, being resourceful, managing and performing within a team environment.
• Proficiency with electronic tools: order management systems, Bloomberg, and other industry software as needed. Strong information technology skills are desirable.
• Ability to challenge the status quo in a non-threatening manner to discover innovative methods for accomplishing work, and to receive and deliver productive criticism to continuously improve the business.
• Maturity, judgment and poise.
• Superb work ethic, attention to detail, team orientation, and commitment to excellence.
• Ability to multitask and thrive in a fast-paced environment.
• Strong intellectual curiosity.

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