National Bank of Canada Capital Markets - London, UK
Fixed Income Analyst
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Analyst FX Trading
Overview
National Bank of Canada Capital Markets (“NBCCM”) is an indirect wholly owned subsidiary of National Bank of Canada (“NBC”). The main strategic purpose of NBCCM is to enable the NBC Group (“NBC Group,” meaning National Bank of Canada and all its subsidiaries) to grow and diversify its presence in Europe, Asia & MENA while allowing for a natural development of its existing business relationships and the establishment of new ones in the global markets.
NBC has over 150 years of history and is currently the 6th largest Canadian bank. Through its branch and subsidiary network, NBC can service clients throughout North America, Europe, Asia & MENA. NBC’s strategy is to further develop NBCCM as its hub for trading and financial services in Europe.
What We’re Looking For
National Bank of Canada Capital Markets is seeking an Analyst FX Trading to join its London-based Global Markets team. This role is suited to candidates with prior experience or a strong interest in foreign exchange, interest rate products, macroeconomics, and financial markets.
As an FX Trading Analyst, you will play a key role in supporting the trading desk's market-making, risk management, and pricing activities across FX and interest rate products. You will gain significant exposure to global markets, client-driven trading activity, and risk management processes. Responsibilities will progressively increase, offering strong development opportunities within a dynamic trading environment.
Your Job
The general role is to price FX/STIR derivatives for our clients (mainly consist of Canadian corporates and institutions)
- Market making FX swaps, Cross-currency swaps, and OIS swaps with an emphasis in London for non-CAD G10 currencies.
- Actively manage risk from client trades and any risk inherited from the other global desks during our hours.
- Coordinate and develop strategy with the other global centers to identify macro-driven opportunities.
- Build and maintain the interest rate curves we use for pricing these products, ensuring that they are up to date and correctly reflect current market conditions.
- In London hours, we also run the Spot FX order book ensuring clients are filled at their required levels, monitoring execution, and controlling short-term risk of the portfolio until the handover with Montreal. Also starting and monitoring the eFX pricing/hedging algorithm that runs for small orders, confirming that it is running correctly.
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Basic Requirements
- At least 1 year of experience in financial markets, sales & trading, treasury, capital markets, investment banking, or another related field.
- Undergraduate or graduate degree in finance, economics, mathematics, engineering, physics, computer science, or a related discipline, with a track record of strong academic performance.
- Strong understanding of financial markets, macroeconomics, foreign exchange, and/or interest rate products.
- Demonstrated analytical and quantitative skillset with the ability to interpret market data and support pricing and risk management activities.
- Strong proficiency with Microsoft Excel and familiarity with data analysis tools.
- Experience with Bloomberg or other market data platforms would be considered an asset.
- Programming knowledge (Python, VBA, or similar) would be considered an asset.
- Strong attention to detail and ability to work effectively in a fast-paced trading environment.
- Demonstrated problem-solving mindset, collaborative approach, and great team spirit.
- Strong interpersonal skills with the ability to build trusted relationships.
- Excellent written and verbal communication skills.
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What NBCCM Has to Offer
This position provides a competitive compensation package, including performance-based bonuses, along with meaningful opportunities for professional development within NBCCM’s Mining & Metals Investment Banking platform.
NBCCM recognizes that the culture of an organization and the performance of its workforce are not mutually exclusive. Since our inception in 2013, NBCCM has worked tirelessly to ensure our cultural framework aligns not only with the Code of Conduct and Ethics of our parent company, NBC, but with our own environmental and local values. Promoting and supporting diversity in the workplace is an important aspect of good people management—it’s about valuing everyone in the organization as an individual. We at NBCCM have an effective diversity and inclusion approach concerning our employees. There are no silos in our teams and management strive to add value to our organization, by contributing to employee wellbeing and engagement. NBCCM takes pride in its diverse workforce, employing and cultivating professionals from all over the globe.
Working at NBCCM can take different forms and it is built around the relationship of trust between the employer and its employees.
We're putting people first.
We're a bank on a human scale that stands out for its courage, entrepreneurial culture, and passion for people. Our mission is to have a positive impact on people’s lives.
We want our recruitment process to be fully accessible. If you require accommodation, feel free to let us know during your first conversations with us.
All data received from applicants is subject to GDPR and Data Protection requirements.
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