Head of FX Derivatives Trading

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

Ballinger Group