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About the Role
Lead the North America Delta 1 Flow Swaps trading desk, responsible for pricing, execution, and risk management of Custom Baskets, Sector, ETF, and Index swaps for institutional clients. Oversee a complex risk book and partner with various teams to deliver tailored equity exposure and optimize hedging.
Responsibilities
- Price, execute, and make markets in equity swaps, including single-name, index, ETF-linked, basket, and custom basket swaps, plus related delta-one products.
- Lead execution and risk management of custom basket swaps, ensuring robust pricing, hedging, monitoring of correlation and concentration risks, and effective lifecycle management.
- Manage the desk's risk book across delta, borrow, dividend, financing, basis, and concentration risks, using cash equities, futures, ETFs, and options as hedging tools.
- Trade around borrow, dividend, corporate actions, index events, ETF rebalances, and basket reconstitutions that affect pricing, hedging, and P&L.
- Own end-to-end flow: trade execution, booking accuracy, lifecycle events, and P&L explanation in coordination with middle office, product control, and risk.
- Partner with Sales and Structuring on client solutions and franchise development in swaps and custom baskets, providing market color, execution insight, and competitive pricing.
- Drive desk strategy, risk analytics, and workflow automation for basket and swap execution in collaboration with Technology, Quants, and support teams.
Requirements
- 10+ years in equity derivatives/delta one trading, with substantial experience in equity swaps and custom basket or ETF/basket execution and risk management.
- Deep understanding of equity swap mechanics, basket-level risk (correlation, concentration, basis), delta hedging, financing, and borrow/dividend dynamics across indices, ETFs, and custom baskets.
- Proven track record of risk management and P&L delivery in flow franchises, including complex basket exposures through volatile markets and corporate action-heavy periods.
- Strong leadership, communication, and stakeholder management skills, able to coordinate across Trading, Sales, Quant, Technology, and control functions and lead a high-performing team.
- Robust analytical and technical skills; proficiency in Bloomberg and Excel, with experience or appetite for scripting/automation (e.g., Python, VBA) to enhance execution and risk tooling.
- SIE, Series 7, 63, 57, and 24.
Skills
- Equity derivatives
- Delta one trading
- Equity swaps
- Custom basket execution
- ETF/basket execution
- Risk management
- Basket-level risk
- Delta hedging
- Financing
- Borrow/dividend dynamics
- Bloomberg
- Excel
- Python
- VBA
Experience Level
- 10+ years
Benefits
- Comprehensive health care coverage
- On-site health and wellness centers
- Retirement savings plan
- Backup childcare
- Tuition reimbursement
- Mental health support
- Financial coaching
About the Company
- JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands.
- Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
- J.P. Morgan’s Commercial & Investment Bank is a global leader across banking, markets, securities services and payments.
- Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries.
- The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.
Equal Opportunity
- We are an equal opportunity employer and place a high value on diversity and inclusion at our company.
- We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law.
- We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs.
- JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans