Area: CORPORATE & INVESTMENT BANKING Company: 001
What are we looking for?
We are offering a junior trader position in the XVA trading desk, located in Madrid. The position entails the valuation of complex derivatives and the management of an involved multi-asset portfolio.
Academic background and Knowledges:
- A highly committed individual, with a technical background (degree on Engineering, Physics or Mathematics). Economics graduates with a technical background will also be considered.
- No previous experience required, although knowledge on financial markets and derivatives valuation will be positively valued.
- Programming abilities will be positively valued.
- English: fluent
- Other languages will be a plus.
- Ability to perform in a demanding environment and work under pressure.
- Team player.
- Focus in results.
The XVA desk quantifies the cost of credit risk and funding of all derivatives’ transactions in order to adjust the final price of the product taking into consideration the CVA & FVA components. It focuses on reducing the XVA volatility and on controlling the GM credit risks and funding costs by pricing, monitoring and managing the CVA & FVA risk.
About the job
- Quote CVA/FVA risk for all Global Markets operations with non-collateralized clients, providing the CVA/FVA component to the Sales and Structuring teams to be incorporated into the final client price.
- Perform dynamic hedging of CVA market positions & passive FVA management to reducing derivatives funding costs. Focus on breaking and covering risks in coordination with other trading desks. Maintain the risks within the acceptable/ allowed risk limits.
- Analyse the CVA ́s appreciation/depreciation on a daily basis in order to adjust the trading book position and to comply with the current regulation. Coordinate with the Sales desks to balance the CVA risk/ charge with the clients, if required.
- Monitor the market continuously, being in permanent contact with other market participants/ counterparties. Focus on adjusting and updating the trading parameters of his/ her valuating models to the market conditions and events.
- Charge the FVA cost to the Sales desks and make the necessary deposits (transfer pricing) to the BBVA Finance Division. Focus on the CVA inventory of each desk/ operation.
- Collaborate with the Collaterals desk in analysing relevant transactions and determining its impact on the GM's liquidity position.
- Register all trades/ transactions in BBVA internal applications.Verify the orders’ compliance and control in case of contingency, system failure and incidences.
- Carry out the daily closing processes, explaining the results obtained and verifying that the positions are correctly informed in the internal systems.
- Update the CVA/FVA handbook, framework and pricing rules documentation used by the Sales desks in order for them to impute the CVA/FVA component to the product ́s price.
- Collaborate with Quants and Structuring teams to develop CVA/FVA valuation models and tools to calculate and report CVA/FVA risk.
- Comply with both internal and external operational policies, procedures and regulatory requirements.
- Report to the CVA & FVA Trading Desk Manager on a periodic and ad-hoc basis about main trading indicators such as: closed trade, positions, etc.
Working at BBVA
BBVA is a global company with over 160 years of history present in 25 countries with over 81 million customers. We are more than 110,000 professionals working in multidisciplinary and diverse teams.
At BBVA, we are ahead of the transformation that is taking place in the banking sector, challenging the status quo, to make life easier to our customers.
Being part of BBVA means developing your career in one of the most innovative companies in finance.
We're committed to responsible banking to help drive a more inclusive and sustainable society. The future of banking lies in financing the future.
We started out with the spirit of helping others make the best financial decisions. That spirit remains with us today and encourages us to keep moving forward, prioritizing innovation and digital transformation so that we can put the opportunities of this new era within everyone's reach.
At BBVA we believe having a diverse team makes us a better bank.
For this reason, we actively support diversity, inclusion and equal opportunities regardless race, sex, age, religion, sexual orientation, gender identity or expression. We cultivate a collaborative and inclusive work environment that allows every employee to do their best work.
Our values define our identity; they are what drives us to make our goals a reality and they guide all of our actions and the decisions we make.
Customer comes first
We think big
We are one team