Head of Offshore RMB Trading - Fixed Income & Derivatives

Job description

This is a high-impact leadership role within the fixed income trading franchise. The successful candidate will take ownership of offshore RMB bond market-making operations, balancing aggressive liquidity provision with prudent risk-taking. You will be responsible for managing a sizeable trading book, refining quantitative pricing frameworks, and shaping the desk's strategic direction in an evolving regulatory and macroeconomic environment. Beyond execution, you will act as a key thought partner to internal stakeholders-partnering with sales, research, technology, and risk teams-to deliver integrated solutions that strengthen the firm's competitive edge in Greater China rates markets.

Responsibilities:

• Spearhead daily market-making activities across offshore RMB fixed income instruments, ensuring competitive two-way pricing and consistent liquidity supply to institutional counterparties.
• Oversee real-time risk positioning within authorized limits, dynamically hedging interest rate, credit, and FX exposures to optimize the desk's P&L profile.
• Identify and capture arbitrage opportunities arising from dislocations between onshore and offshore RMB bond markets, swap markets, and related derivatives.
• Drive the continuous refinement of proprietary pricing algorithms and execution models to strengthen pricing accuracy, reduce latency, and improve fill ratios.
• Architect and back-test innovative trading strategies that enhance return-on-equity while maintaining disciplined risk-adjusted performance metrics.
• Lead post-trade analytics and performance attribution to diagnose alpha sources and adjust strategy parameters accordingly.
• Champion the next-generation upgrade of the desk's trading infrastructure-including front-office execution platforms, risk management dashboards, and straight-through-processing workflows.
• Collaborate with quantitative developers and IT teams to specify system requirements, oversee user-acceptance testing, and ensure seamless integration with upstream/downstream systems.
• Drive automation initiatives to reduce manual intervention and increase scalability of the market-making engine.
• Maintain a forward-looking view of macroeconomic catalysts, monetary policy shifts, and regulatory changes affecting RMB rates and FX markets-particularly those emanating from the PBoC and Hong Kong Monetary Authority.
• Cultivate strong relationships with external stakeholders, including institutional investors, exchange operators, clearing houses, and regulatory bodies.
• Partner closely with the institutional sales team to structure tailor-made fixed income solutions for offshore clients, ranging from asset managers to corporate treasuries.
• Liaise with risk management and finance teams to ensure accurate daily P&L reporting, limit compliance, and stress-testing of the portfolio under extreme scenarios.

Requirements:

• Master's degree or higher in Finance, Financial Engineering, Economics, Mathematics, Quantitative Finance, Computer Science, or a closely related quantitative discipline.
• 13-15 years of progressive experience in fixed income trading, market-making, or rates trading, gained within leading investment banks, securities houses, or multilateral trading platforms.
• Comprehensive command of China's onshore and offshore bond markets, interest rate swaps, Treasury bond futures, and the operational mechanics of Bond Connect and Swap Connect.
• Demonstrated success in managing large fixed-income trading books with sustained profitability across multiple market cycles.
• Advanced analytical skills-including proficiency in stochastic calculus, time-series econometrics, or machine-learning applications for alpha generation-with hands-on experience in Python, R, or similar analytical tools.
• Deep intuition for risk management frameworks, including VaR, stress-testing, liquidity buffers, and counterparty credit exposure.
• Exceptional communication and stakeholder management abilities, with comfort presenting to senior management, external clients, and regulatory counterparts.
• Proven ability to thrive under pressure in a fast-paced, high-stakes dealing room environment, with sound judgment and rapid decision-making capabilities.