Head of OTC Trading

As Head of OTC Trading at Luno, you lead the global OTC desks with management and strategic responsibility for their success. You report to the Head of Treasury and manage OTC principal traders across multiple markets, ensuring they act within defined limits while turning institutional, corporate and professional trader flow into a consistently profitable book. You work across the Treasury team with heads of Stablecoin and Payment/Remittances initiatives, in-country teams and relationship managers to build a sustainable, growing operation.

What you'll do

• Manage and mentor a team of traders, fostering a culture of high performance, risk awareness and commercial proactivity
• Ensure trading activity stays within defined strategies, counterparty credit limits, operating limits and allocated working capital
• Manage trade disputes and ensure trade execution and settlements follow Standard Operating procedures
• Maintain accurate records of trades and P&L
• Own the desk's aggregate P&L and risk-adjusted P&L against targets and risk limits, knowing your numbers cold and defending every line
• Execute trades to hedge Luno's market risk on its working capital and revenue streams, and execute revenue liquidation trades
• Develop and agree trading strategies across multiple desks for OTC, corporate hedging and revenue liquidation, including strategies for derivatives, arbitrage and warehousing as the desk matures
• Produce aggregate reporting at the global level for distribution to senior stakeholders on trading activity, performance and market insight
• Identify opportunities to expand desk flow and increase profitability through customer retention and growth, additional customer acquisition, new pairs and new instruments
• Advocate for changes in counterparty credit limits, operating limits and allocated working capital to support sustainable profitability
• Specify improvements to Luno's trading and risk systems and processes to drive automation and evolve from manual execution to a scaled, systematic operation
• Pressure-test risk frameworks and models, and make the case for changes as market dynamics shift
• Build relationships with cross-functional teams across Luno including Marketing, Sales, Product, Compliance and Legal
• Build durable relationships with desk clients alongside traders, country teams and relationship managers, driving repeat flow

What you bring

• 5-8 years of trading experience within a sell-side OTC desk, market maker, prop desk or brokerage in crypto (preferred), FX, equities or derivatives
• 3-5 years of experience managing traders and trading teams within a sell-side OTC desk, market maker, prop desk or brokerage in crypto (preferred), FX, equities or derivatives
• Proven P&L responsibility based on trade and counter-trade execution within trade size limits, position limits, working capital and similar constraints
• Bachelor's degree in Finance, Economics, Mathematics, Business Administration, Accounting or a related discipline
• A successful trading or OTC trading track record across more than one market
• Strong attention to detail and accuracy in trade execution and documentation
• Excellent interpersonal and communication skills
• Compliance with regulatory standards and a commitment to ethical trading practices

Nice to have

• RE5 certificate
• Derivatives arbitrage knowledge or experience
• An advanced degree or professional qualification such as CFA, CAIA or MBA in a related field

What we offer

• Remote but reachable work policy, giving you freedom to choose between working from home or the office
• Excellent private medical insurance
• Retirement fund benefit
• Access to Learnably and additional learning platforms for personal and professional development
• 6 months primary caregiver leave
• Paw-ternity leave for your pet
• Annual Inspiration Day in addition to annual leave, which increases based on your length of service
• Option to buy and sell up to 5 days leave
• Collaborative work community with regular social events and virtual classes
• Free lunch and snacks
• Zero fees up to a certain amount with Luno from day one (applies to Luno Instant Buy, not Luno Exchange)

About Luno

Luno is a crypto investment app enabling you to buy, store and explore crypto securely. Since 2013, the platform has helped millions of people around the world invest safely in crypto by cutting through the hype and supporting customers at every step. Luno stores all crypto on a 1:1 basis, operates in multiple markets worldwide, and works closely with regulators and other stakeholders to ensure compliance with local laws.