Treasury And Financial Markets: Trader

Old Mutual is seeking a versatile and quantitatively skilled individual to join its Treasury and Financial Markets (TFM) division in Johannesburg. This role is integral to the Trading & Execution team, focusing on the dynamic execution of strategies related to asset-liability management (ALM) hedging, liquidity management, and shareholder investments. Unlike roles that specialise in a single product area, this position is designed to foster broad expertise. The successful candidate will develop and hone their trading and execution capabilities across a range of asset classes, including fixed income instruments such as bonds (nominal and inflation-linked), repos, and bond forwards. Additionally, they will engage with interest rate derivatives, cross-currency swaps, and gain exposure to equity-linked and structured products, as well as foreign exchange (FX) execution.

This deliberate structure aims to create a highly adaptable team, reducing reliance on key individuals and broadening each member's market exposure. The ideal candidate will possess a strong quantitative foundation, a disciplined approach to trading, and an eagerness to rotate through different product areas rather than remaining confined to a single instrument set. This cross-training approach is central to the desk's strategy, ensuring robust and continuous market coverage.

About the Role

The Treasury and Financial Markets Trader will be directly involved in executing a variety of financial transactions. A core responsibility will be the execution of fixed income trades, ensuring alignment with ALM and liquidity mandates. This includes managing both nominal and inflation-linked bonds, as well as repos and bond forwards. Furthermore, the role involves supporting and executing strategies involving interest rate derivatives, such as vanilla and cross-currency swaps, which are crucial for hedging and funding activities.

There is also an opportunity to develop expertise in structured and protected equity mandates, encompassing the execution and ongoing monitoring of equity-linked structures. FX execution support, including spot and forward transactions linked to funding, hedging, and liquidity requirements, will also form part of the daily activities. A critical aspect of the role involves the proactive evaluation and management of risk exposures across various portfolios to guarantee continuous compliance with established mandates and risk limits.

Accurate transaction management, including the timely and precise booking, confirmation, and settlement of trades, is paramount. The trader will also contribute to performance and risk reporting, compiling daily profit and loss statements, risk dashboards, and providing insightful market and trading commentary. Building and maintaining strong relationships with market makers, liquidity providers, and counterparties across all covered asset classes is essential for effective market participation.

The Treasury and Financial Markets Trader will actively participate in structured cross-training initiatives and desk rotations. This engagement is key to building working competence across bonds, swaps, and equities/FX, thereby strengthening the team's bench depth and ensuring continuity of coverage. Collaboration with the ALM function is vital for developing and refining hedging strategies that serve the business's objectives. Staying abreast of industry trends, regulatory changes, and market developments across all asset classes, and escalating any potential implications, will be a continuous requirement.

The role necessitates a proactive approach to learning and development. This includes:

• **Execution:** Executing trades across fixed income, derivatives, equities, and FX in line with mandates.
• **Risk Management:** Evaluating and managing portfolio risk exposures and ensuring compliance.
• **Reporting:** Contributing to performance and risk reporting, including P&L and market commentary.
• **Relationship Management:** Fostering strong relationships with market participants.
• **Collaboration:** Working closely with ALM and other internal teams.
• **Learning & Development:** Actively participating in cross-training and knowledge sharing.

What They're Looking For

Candidates for this position should hold a technical degree in a quantitative field such as Mathematics, Statistics, Finance, or Economics. Old Mutual is open to a range of experience levels, approximately 3 to 10 or more years, stemming from either a trading or asset management background. The seniority of the appointment will be determined by the calibre of the candidates presenting.

Essential experience includes a demonstrated track record in Fixed Income trading. While exposure to interest rate derivatives, equity derivatives/structured products, and/or FX is advantageous, a genuine willingness to develop expertise in these areas is highly valued. Possession of SAIFM RPE and/or JSE Registered Securities Trader exams would be beneficial, particularly for more senior applicants. Proficiency with Bloomberg and related trading and risk systems is a prerequisite.

Key competencies sought include strong analytical and quantitative modelling skills, meticulous attention to detail, and remarkable versatility with a genuine desire to work across multiple asset classes. Self-motivation, initiative, and robust problem-solving abilities are crucial. The candidate must be resilient, capable of performing under pressure in a fast-paced environment, and possess excellent professional communication and relationship management skills. A collaborative, knowledge-sharing mindset is essential, as is the ability to work independently while remaining accountable to shared team objectives.

In South Africa, roles like this, involving treasury operations and financial markets trading within large financial institutions, can offer competitive remuneration packages. Experience levels, specific product expertise, and the complexity of the trading desk will influence salary expectations, which can range significantly. Career progression often involves deepening expertise in specific markets, moving into portfolio management, or taking on more senior trading and risk management roles within the organisation.

Qualifications & Experience Required

• Technical degree in Mathematics, Statistics, Finance, Economics or a related quantitative field.

• Open to a range of experience levels (approx. 3–10+ years) in financial markets, from either a trading or asset management background – seniority will be matched to the strongest available candidate.

• Demonstrated experience in Fixed Income is essential; exposure to interest rate derivatives, equity derivatives/structured products and/or FX is advantageous, as is a genuine willingness to build capability across these areas.

• SAIFM RPE and/or JSE Registered Securities Trader exams advantageous (a requirement at more senior levels).

• Proficiency in Bloomberg and related trading and risk systems.

Competencies

• Strong analytical and quantitative/modelling skills.

• Exceptional attention to detail.

• Versatility and a genuine willingness to work across multiple asset classes and products, rather than a single specialism.

• Self-motivated, with strong initiative and problem-solving ability.

• Resilient, with the ability to perform well under pressure in a fluid, fast-moving environment.

• Strong professional communication and relationship management skills.

• Team player with a collaborative, knowledge-sharing mindset – willing to teach as well as learn across product lines.

• Able to work independently while remaining accountable to shared desk coverage objectives.

 

Skills

Competencies

Business Insight

Communicates Effectively

Courage

Decision Quality

Ensures Accountability

Financial Acumen

Instills Trust

Manages Complexity

Education

Baccalaureus Technologie (Required)

Closing Date

16 August 2026 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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