18 Jul 2026
London, LND, GB, EC2M 2AT
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Who we are
United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.
Role Summary
Is the next step in your career at SMBC Group EMEA? We’re looking for a Derivatives Trade Execution Support (Associate) for our Macro Rates Department to join our team.
The role holder is responsible for pricing and executing customer derivative transactions, actively managing market and portfolio risk, and contributing to the profitable growth of the derivatives franchise. The position requires close collaboration with Sales/Marketing teams to deliver high-quality pricing, market insights, and client solutions.
Essentials of the role are:
Leadership, communication, and influence: Strong leader with proven ability to mentor others, build trust with stakeholders, negotiate effectively, and communicate clearly and credibly at all levels.
Analytical, commercial, and decision-making strength: Excellent numerical and analytical skills combined with strong commercial judgement, enabling interpretation of complex data and sound, timely decisions under pressure.
Execution, adaptability, and professionalism: Highly organised with strong attention to detail, able to prioritise in fast-paced environments, adapt to change, uphold high ethical standards, and work flexibly to meet global market demands.
Requierments of the role are:
Regulatory compliance and conduct: Adhere to all regulatory requirements, internal policies, and PRA/FCA Conduct Rules, maintaining high standards of fitness, propriety, and professional behaviour.
Ongoing competence and development: Complete required attestations, competency assessments, and CPD to ensure continued capability in role.
Governance, escalation, and support: Promptly escalate any conduct or compliance issues and support training and development requirements related to Certification Functions.
Business Area
The Derivative Products Group operates globally across London, New York, and Hong Kong, trading on a 24-hour basis. The primary focus is the origination and trading of interest rate and currency derivatives.
Core Products:
Interest Rate Swaps
Cross-Currency Swaps
Caps, Floors, FRAs
Interest Rate Options
FX Forwards and FX Options
Hedging and Ancillary Products:
Government bonds (e.g. USTs, Gilts, Bunds)
Repos / Reverse Repos
Exchange-traded futures and options
Spot FX
The London desk primarily covers the UK, Europe, the Middle East, and Africa but operates without restriction on currency or product where appropriate.
Key Stakeholders:
Clients and market counterparties
Brokers and electronic trading platforms
Exchanges and market data providers
Internal Capital Markets teams across SMBC group entities
SMBC branch network
Position Description
Accountable for managing a dedicated derivatives trading book (by currency and/or product)
Typically responsible for approximately 25% of the London trading budget, subject to annual planning
Full ownership of risk, P&L performance, and hedging strategy within approved limits
Develop and execute a growth strategy for assigned currency/product areas, leveraging market expertise and client relationships
Price trades, provide market indications, and support client execution activity
Actively manage and hedge portfolio risk, ensuring adherence to approved risk limits
Maintain accurate discount curves, volatility surfaces, and market assumptions
Monitor dynamic risk exposures and market conditions on a continuous basis
Work collaboratively with other traders through the shared book allocation framework
Build and maintain effective relationships with brokers and market counterparties
Provide observable market pricing and technical support to Sales and Marketing desks, including modelling and hedging guidance
Supervise and guide Analysts in the development of analytical tools, models, and market research
Support other traders in pricing and execution as required
Represent the firm professionally in the market and with clients
Act as an authorised trader on behalf of SMBC Derivative Products Limited
Provide clients with information on SMFG products and services, including investment solutions
Competencies
Customer Focus
Driving Change
Driving Results
Embraces Diversity
Enterprise Leadership
Judgement and Decision Making
Risk Management
Strategic and Visionary
Trust and Integrity
What we offer
For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.
As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you:
Hybrid and flexible working
Competitive paid leave days
Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance
Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services
Access a wide range of learning and development opportunities and career progression opportunities
Ambitious remuneration package
So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!!
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About SMBC
A trusted partner for the long term
United by a sense of purpose towards our customers - to be a trusted partner for the long-term - and our universal banking platform in EMEA, we deliver a full suite of corporate finance products and solutions to our customers, including corporate, structured and trade finance, leveraged finance, loan market and treasury products. We can also provide investment banking and advisory services and a range of innovative solutions in global capital markets.
about what we do and who we are at https://www.smbcgroup.com/emea/careers
