Treasury Dealer

Department: Finance

Employment Type: Full Time

Location: Manchester

Reporting To: Sam Hale

Description

As a Treasury Dealer you will be responsible for executing and managing the Bank's treasury investment portfolio across structured credit (CLOs, RMBS, ABS) and high-quality liquid assets (SSA, covered bonds, gilts). You will encompass day-to-day management of IRRBB and FX exposures through interest rate and cross-currency derivatives, ensuring trades remain within risk appetite and regulatory standards.

Key Responsibilities

• Hedging & Risk Management: Design and execute swaps, cross-currency swaps and FX forwards to manage IRRBB and FX risk.
• Align hedge activity with Board-approved risk appetite, ICAAP/ILAAP metrics, and PRA supervisory expectations.
• Investment Execution: Source, evaluate and execute investments in structured credit instruments (CLOs, RMBS, ABS) and other treasury assets.
• Negotiate allocations in primary issuance and manage secondary-market opportunities.
• Conduct manager and deal due diligence, prepare trade rationales, and ensure compliance with eligibility, capital and liquidity rules.
• Portfolio Management: Monitor positions, P&L, risk metrics and early warning indicators.
• Maintain accurate investment MI for Treasury Committee and ALCO.
• Proactively recommend portfolio adjustments to optimise risk/return.

Skills, Knowledge and Expertise

• Front-office experience in investment banking, treasury dealing or structured credit trading/analysis.
• Proven track record in sourcing, pricing and executing trades in CLOs, RMBS/ABS or comparable asset classes.
• Understanding of IRRBB metrics, cross-currency swap hedging and FX risk management.
• Familiarity with regulatory frameworks (CRR, PRA Rulebook, Basel standards) as they apply to structured credit and derivatives.
• Experience using Bloomberg and treasury management systems (e.g. MORS).
• Analytical and commercially minded, with strong attention to detail.
• Comfortable operating in a fast-growing challenger bank with evolving structures.
• Clear communicator who can work cross-functionally and influence senior stakeholders.

Benefits

• Competitive salary
• 25 days holiday PLUS your BIRTHDAY off
• Pension contribution with Royal London
• Life Assurance
• Private medical, dental and optical health insurance with Axa
• Hybrid working - Wrexham
• Free breakfast available