Who we are
We are an energy trading company generating liquidity and value across global commodities markets. We combine deep trading expertise with proprietary technology and the power of data science to be the best-in-class. Our understanding of volatile, data-intensive markets is a key part of our edge. We are extending our trading expertise into new geographies and connected commodities markets. We’re also proud to be certified a ‘Great Place to Work’. Read more about our culture and what our team says about us here.
At Dare, you will be joining a team of ambitious individuals who challenge themselves and each other. We have a culture of empowering exceptional people to become the best version of themselves.
What you’ll be doing
You will primarily be responsible for designing, documenting, supporting, and monitoring the implementation of FX hedging trading strategies, with the aim to minimise any company FX exposure that may result from trading activity.
To achieve this, you will work alongside our trading and risk teams, as well as other key departments. You will also contribute towards the risk framework at Dare and will have the opportunity to work on a variety of related exciting data and technology projects. You will:
- Develop (through coding) FX exposure/analytics reporting and monitoring solutions at varying levels of granularity. Reports will be distributed to key stakeholders and will provide valuable insight to both the front office and senior management.
- Produce FX stress risk reports detailing potential FX impacts on the trading desks, as a result of currency fluctuations and during specific stressed periods.
- Implement and report new Value at Risk (VaR) models and other relevant risk models and methodologies associated with Dare’s trading activities.
- Design, develop, and implement our risk database.
- Validate the accuracy and effectiveness of data sources used to produce various risk reports.
- Help build and maintain risk infrastructures and ensure documentation and controls are updated accordingly.
- Investigate, as required, any abnormal data points by requesting further information from the trading desks (e.g. hedging strategies), tech team (e.g. data workflow), exchanges (e.g. Initial Margin models), clearers (e.g. Haircut Model), and other financial counterparties.
- Use a combination of Python, VBA, SQL, Tableau and other coding languages to enhance, automate and visualise key information/metrics sent to trading and senior management.
- Enhance and automate BAU tasks/procedures related to risk.
- Ideally a minimum of 5 years of professional experience in a market risk function.
- Previous exposure to the energy sector (with a preference for Oil, Gas, and Power) and derivatives markets (with a preference towards Exchange-traded products and OTC).
- Coding/database skills and experience with visualization tools (such as Python, VBA, SQL, Tableau).
- An understanding of risk (and margining) models such as VaRs, Expected Shortfall, Liquidity Risk, Standard Portfolio Analysis of Risk (SPAN).
- A quantitative/technical background (e.g. mathematics/engineering/finance/economics) and/or adequate/equivalent previous professional experience.
- Degree-level education in a relevant subject.
- A strong sense of curiosity.
- A robust logical/pragmatic approach to work.
- Detail oriented.
- Collaborative mindset; a team player.
- A good ability to handle pressure.
- Creative, with a ‘think outside-the-box’ approach.
- Good communication skills (both within the team and across departments).
- Proactive problem solver – make suggestions for improvements.
- Comfortable with writing professional documentation and procedures.
- A professional risk certification such as FRM would be an added benefit.
- Direct exposure to FX products (Exchange-traded + OTC) and associated hedging strategies/solutions.
- Previous experience interacting with a front office (e.g. commodity traders).
- Previous experience dealing with exchanges (risk methodologies, contract specs., etc.).
- Experience with commodity derivatives and associated risk metrics (Futures, Greeks, etc.).
- Confident in performing independent troubleshooting and issue resolution.
- Previous experience with creating and maintaining databases.
- Project management, in a professional or personal context (side/DIY project, or other applications).
Beneﬁts & perks
- Competitive salary.
- Vitality health insurance and dental cover.
- 38 days of holiday (including bank holidays).
- Hybrid working – 3 days on-site.
- Pension scheme.
- Annual Bluecrest health checks.
- A personal learning & development budget of £5000.
- Free gym membership.
- Specsavers vouchers.
- Enhanced family leave.
- Cycle to Work scheme.
- Credited Deliveroo dinner account.
- Office massage therapy.
- Freshly served office breakfast twice a week.
- Fully stocked fridge and pantry.
- Social events and a games room.
“Strength lies in differences, not in similarities.” – Stephen Covey
We believe in a workplace where our people can fulfil their potential, whatever their background or whomever they are. We celebrate the breadth of experience and see this as critical to problem-solving and to Dare thriving as a business. Our culture rewards curiosity and drive, so the best ideas triumph and everyone here can make an impact.