Job Responsibilities
Monitoring movements in market rates in G10 countries (most of
day, 6 days a week -- Tokyo trading day is Sunday night on East
coast)
Creating Excel spreadsheets to monitor the risk and profit-loss
of positions. This can be quite involved and requires use of
VBA programming.
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Job Requirements
We require a quantitative MBA or a MA/PhD in Math Finance,
Statistics, etc.
Ideal candidate would have considerable experience in interest
rate swap and options trading and structuring.
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Uppers
You have considerable autonomy since your trading decisions determine the
profitability of the firm.
You are considered a client by all the investment banks and hence treated well.
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Downers
You have to like markets and monitoring nearly 24 hours, all the
events that can affect interest rates.
You are accountable for decisions. You have no one else to
blame when your trades go against you. For some this may be a
plus (It is for me).
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Lifestyle
Dress code is business casual. No tie required.
Our hedge fund is at 100 million in assets and employs only 8 people. So not
too many social events.
Typically, workdays are 8am-6pm.
You have to be self-sufficient and be able to wear a lot of hats when joining a
smaller hedge fund.
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Compensation
My base salary is $100K and guaranteed bonus for this year is
$40K. Going forward, bonuses will depend on profitability of
the fund and my contribution to those profits
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Advice to Jobseekers
If you are looking to get into fixed income arbitrage/relative
value hedge funds, you must have absolutely rock-solid knowledge
of bond math (forward rates, discount factors, option pricing,
etc).
Since I also operate as the recruiting contact here, I know that
the principals who have had 3-5 years experience in an interest
rate OTC derivatives (swaps, swaptions, mortgages) trading
environment. Just having had exposure to interest rate futures
(eurodollars and treasury futures0 or just to the cash bond
market is NOT sufficient.
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