Graduate Quantitative Credit Risk Trader

‘Rothesay’ is a UK insurance company purpose built to protect pensions. We are the largest specialist pension insurer in the UK, managing over £60bn of assets and securing pensions for over 800,000 people. We secure pensions for over 170 pension schemes and insurers including British Airways, Post Office, ASDA, National Grid and Aegon.

At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.

The Quantitative Credit Risk trading team sits within Rothesay’s wider trading team, working closely with our asset origination, quant, liquidity and risk teams, with the objective of taking ownership of the credit risk across Rothesay. We work on individual new idiosyncratic trade proposals as well as embedding an overarching framework of risk management and deployment targets across the entire suite of asset classes.

The Quantitative credit risk trading function was created in the last five years, as a response to the increase in size and complexity of our asset pool, and is continuing to evolve; it offers a great growth-opportunity for strong, highly motivated candidates.

In general, we are looking for smart, commercial applicants with an excellent academic record, strong quantitative and problem-solving abilities and a high degree of adaptability, with a genuine intellectual appetite to expand their existing skillset.

The focus of the role will be a combination of commercial Trading views / risk-taking on the one hand, and quantitative analysis / problem-solving on the other hand, helping drive Rothesay Life’s strategy for underwriting and managing credit and a variety of illiquid risks across its investment book (rather than, for example, acting as execution trader for hedging credit exposure).

The wide scope of the role, combined with Rothesay’s dynamic and nimble culture, offers a prospective graduate an unrivalled opportunity to take ownership over their role and career path at an early stage. An offering which traditional graduate schemes cannot match. 

Responsibilities:

The quantitative credit risk trading role will expose you to Credit risk on a wide range of exotic and vanilla fixed income investments across Rothesay’s business. These asset classes may range from illiquid products such as Commercial Real Estate lending, bilaterally negotiated secured financing trades, Residential Mortgages and other esoteric asset classes, to more liquid products such as vanilla corporate bonds. Familiarity with these products is not expected, but an ability to grasp new concepts quickly is fundamental to our work.

The role will involve pricing and managing this Credit exposure, for which a good balance of strong quantitative abilities and commercial mind-set will be required. This work will be an important aspect of Rothesay’s business strategy, both in helping to manage the existing asset back-book and contributing to the process for originating and structuring new investments.

The on-the-desk training will be demanding and will require you to undertake challenging project and day-to-day work that will extend your skills, and give you direct access to other members of the multi-disciplined Rothesay trading and asset origination teams.

Skills & Experience:

Required:

• Hold or expect to attain a 2:1 or equivalent degree from a leading university in a relevant or highly quantitative subject, with a preference for STEM subjects.
• Demonstrate excellent verbal and written communication skills for communicating complex concepts to a wide audience
• Be able to demonstrate commitment and enthusiasm for working in a trading team, and intellectual curiosity for learning new skills and expanding knowledge of asset classes

 Competencies:

• Technical Skills - Demonstrates strong technical and analytical skills, perhaps through University projects, showing creative problem solving. Pays attention to detail, and takes initiative to continually broaden his/her knowledge
• Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely under time pressure towards extremely challenging goals and persists in the face of obstacles or setbacks
• Commercial Awareness – Sees the big picture alongside the quantitative analysis; effectively and pragmatically analyses complex issues
• Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives
• Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
• Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
• Creativity/Innovation - Looks for new ways to improve current approaches and develop creative solutions that are grounded in reality and have practical value
• Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations

Inclusion

Rothesay actively promotes diversity and inclusivity. We know that our success depends on our people and that by nurturing a culture that values difference, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.

Disclaimer This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of assigned duties, but to describe a position level.  The role shall be performed within a professional office environment. Rothesay has health and safety polices that are available for all workers upon request.  There are no specific health risks associated with the role.