Head of FX Derivatives Trading

Ballinger EU Limited is looking for a candidate with 10+ years experience in Banking, Foreign Exchange. The Head of FX Derivatives Trading will lead the build-out and management of the firm's FX derivatives trading activities within a matched principal framework. The role requires a strong balance of commercial acumen, product expertise, and risk discipline to establish and grow the derivatives desk, while ensuring full alignment with regulatory obligations under MiFID II, EMIR, and MFSA supervision.

The position combines execution responsibilities with strategic leadership, oversight of liquidity provider relationships, and close collaboration with risk, compliance, and sales teams. The ideal candidate will have had direct experience bringing a very similar product to market successfully.

Strategic Leadership

• Build and manage the FX derivatives trading desk, including strategy, product development, and execution framework.

• Define and implement the desk's commercial strategy in alignment with the firm's growth objectives and risk appetite.

• Lead engagement with liquidity providers, banks, and counterparties to ensure deep and competitive pricing pools.

• Provide senior market insight and thought leadership to the board and senior management on FX derivatives trends, opportunities, and risks.

Trading and Execution Oversight

• Oversee the execution of vanilla and structured FX options, forwards, and other derivative products on a matched principal basis.

• Ensure best execution and fair outcomes for clients while maintaining strict adherence to matched principal obligations.

• Supervise daily trading activity, ensuring trades are accurately booked, confirmed, and reconciled.

• Manage the development and use of pricing tools, risk analytics, and execution platforms.

Risk and Capital Management

• Monitor market, credit, and liquidity risk exposures associated with FX derivative activities, ensuring compliance with internal and regulatory limits.

• Collaborate with the Risk and Finance teams on IFR K-Factor calculations (K-TCD, K-CON) and capital adequacy planning.

• Oversee collateral and margin management processes with liquidity providers and clearing arrangements.

• Support stress testing and scenario analysis to assess resilience under adverse market conditions.

Governance and Compliance

• Ensure trading desk operates in full compliance with MiFID II, EMIR, and MFSA rules.

• Oversee timely reporting of all derivative trades to trade repositories and regulatory reporting systems.

• Embed a strong culture of conduct risk management, client suitability, and fair treatment.

• Work closely with Compliance, Legal, and Operations to resolve regulatory or operational issues and implement controls.

Business Development Support

• Partner with the Sales team to structure, price, and deliver tailored FX derivative solutions to corporate and institutional clients.

• Act as a senior point of contact for key client relationships, providing expertise on hedging strategies and derivative products.

• Drive product innovation in collaboration with technology and sales teams, expanding the firm's capabilities in structured FX products.

Skills and Qualifications

Essential

• Extensive experience in FX derivatives trading, with a proven track record at senior or head of desk level.
• Deep knowledge of vanilla and exotic FX options, forwards, and structured products.
• Demonstrable experience managing relationships with liquidity providers and counterparties.
• Strong understanding of MiFID II, EMIR, and MFSA requirements for investment firms.
• Familiarity with IFR K-Factors (K-TCD, K-CON) and capital requirements for trading activity.
• Excellent quantitative, analytical, and decision-making skills, with a commercial mindset.
• Previous experience in building or leading a trading desk/team.

Desirable

• Experience in a MiFID investment firm or matched principal broker regulated in Malta or EU.
• Advanced understanding of treasury and liquidity management in a derivatives context.
• Strong network across counterparties, clients, and liquidity providers in the FX derivatives space.

Personal Attributes

• Strategic thinker with the ability to execute and deliver.
• Strong leadership and people management skills.
• Highly credible with clients, counterparties, and regulators.
• Ethical, compliance-focused, and commercially driven.
• Adaptable and resilient in dynamic markets.

Competitive Salary

Annual Bonus

Private Medical

Participation in Employee Share Option Scheme