The UK Debt Management Office (DMO), the Government’s debt and cash manager, is seeking a Cash Management Dealer to join its existing dealing team, with a specific focus on trading sterling money markets, smoothing intra-day and future cash flows, and servicing the DMO’s counterparty and client base.
In the role, you will be responsible for:
- Assisting in trade execution and developing trading strategies in the (predominantly sterling) money markets, designed to smooth intra-day and future UK government cashflows in the most effective way possible, operating within prescribed risk and procedural limits.
- Developing, building and maintaining counterparty and client relationships.
- A shared responsibility for the execution of weekly auctions of UK Treasury bills, and other related primary and secondary market operations.
- Maintaining in-house databases, applications, spreadsheets and other tools used for cash management purposes.
- Advising senior management of positions, exposures and forecasts, both through structured weekly meetings and/or ad hoc market intelligence updates.
- Assisting with the implementation of a recently-procured new trade capture and reporting system at the DMO.
The successful candidate will have relevant prior trading experience in money-market products, such as repo, reverse repo, treasury bills, short-term fund management and/or deposit-taking. Experience in sterling products at a large financial institution would be especially welcome. The candidate is also expected to be able to work calmly and decisively in pressurised situations, where trading decisions could carry large implications for government financing, as well as demonstrating a proven knowledge and interest in wider financial markets. In addition, the candidate should demonstrate team spirit, a public service ethos and an ability to handle market-sensitive information.
Knowledge and skills:
- Knowledge of, and experience in, trading (preferably GBP sterling) repo and money markets is essential, together with an understanding of fixed income and foreign exchange swaps products and a wider interest in, and knowledge of, financial markets in general.
- Proven interpersonal, communication and presentation skills, in addition to discretion in handling sensitive information.
- Knowledge and experience of Bloomberg and Reuters dealing systems usage and functionality, general IT skills (particularly Excel) are also essential.
- An understanding of different financial instruments or a demonstrable ability to learn quickly.
- Ability to make quick, logical decisions with financial consequences in a time-pressured environment.