Head of OTC Trading

Job description

**About us:** Luno is the crypto investment app you can rely on, enabling you to buy, store and explore crypto securely. We’re committed to putting the power of cryptocurrency in everyone's hands, sensibly and responsibly. Since 2013, we’ve helped millions of people around the world invest safely in crypto. We do this by cutting through the hype and supporting customers at every step of the way. All products and cryptocurrencies on our platform must first meet stringent legal, risk and technical security standards.Transparency is key for us. Luno stores all crypto on a 1:1 basis and we have rigorous processes in place so you can be confident your investment is secure. **We're available in multiple markets around the world and we work closely with regulators and other key stakeholders to ensure compliance with local laws,** as we believe this is the best way to help everyone, everywhere, invest safely. **The role in a nutshell:** This is a senior role with management and strategic responsibility for the success of Luno's global OTC desks, reporting to the Head of Treasury. You'll manage OTC principal traders across several markets, ensuring that they act within defined limits at all times and you’ll ensure that flow from institutions, corporates and professional traders is profitably traded on a risk-adjusted basis. Sitting within our Treasury team, you'll work with the heads of our Stablecoin and Payment / Remittances initiatives, in-country teams and relationship managers to turn that flow into a consistently profitable book. **Your mission will be:** **Team management** - Manage and mentor a team of traders, fostering a culture of high performance, risk awareness, and commercial proactivity. - Ensure that trading activity is within defined strategies, counterparty credit limits, operating limits and allocated working capital. - Ensure that trade disputes are cleanly managed by Traders, stepping in where required. - Ensure that Trade execution and Trade Settlements are per Standard Operating procedures. - Ensure that accurate records of trades and P&L are kept. **Manage P/L and risk** - Own the aggregate of desk's P&L and risk-adjusted P/L against targets and risk limits — you'll know your numbers cold and be able to defend every line of them. - Manage the execution of trades to hedge Luno's market risk on its working capital and revenue streams, and execute revenue liquidation trades. **Manage trading strategy** - Agree trading strategies across multiple desks relating to crypto and FX — for OTC, corporate hedging and revenue liquidation. Develop and agree strategies for derivatives, arbitrage and warehousing as the desk matures — always with risk management and profitability at the core. **Reporting responsibility** - Aggregate reporting at the Global level, for regular distribution to senior stakeholders on trading activity, performance and market insight. **Build the desk** - Identify opportunities to expand desk flow and increase profitability relating to customer retention and growth, additional customer acquisition, additional pairs, new instruments etc. Motivate for the infrastructure and resources to capitalize on those opportunities. - Motivate for changes in counterparty credit limits, operating limits and allocated working capital, where required to support sustainable profitability. - Spec improvements to Luno's trading and risk systems and processes to shape our push into automation — helping us evolve from manual execution to a scaled, systematic operation. - Pressure-test our risk frameworks and models, and make the case for changes as market dynamics shift. **Relationship management** - Establish and nurture internal relationships with Cross functional teams across Luno (Marketing, Sales, Product, Compliance, Legal etc). - Build durable relationships with desk clients alongside our traders, country teams and relationship managers — the goal is repeat flow, not one-off tickets. **A little about you:** - 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 / trading teams within a sell-side OTC desk, market maker, prop desk or brokerage in crypto (preferred), FX, equities or derivatives. - Your trading and trader management experience includes P/L responsibility based on Trade and Counter-trade within trade size limits, position limits, working capital etc (the Luno OTC desk acts as a principal rather than executing under customer instructions). - Bachelor's in Finance, Economics, Mathematics, Business Administration, Accounting or related discipline. - RE5 certificate would be preferable & advantageous - Derivatives arbitrage knowledge or experience would be a plus. - An advanced degree or professional qualification (CFA, CAIA, MBA) in a related field is beneficial. - A successful broking / OTC trading track record across more than one market. - Ability to adapt to a fast-paced and dynamic trading environment. - Compliance with regulatory standards and a commitment to ethical trading practices. - Strong attention to detail and accuracy in trade execution and documentation. - Excellent interpersonal and communication skills, a strong team player. - Friendly, transparent, articulate and driven to succeed. **Life at Luno:** - Remote but reachable work policy gives you the freedom to choose between working from home or the office. - Improve body and mind, with excellent private medical insurance - Retirement fund benefit, helping you build the financial foundation you need to enjoy your future to the fullest. - Access to Learnably and our additional learning platforms for your personal and professional development - 6 months primary care-giver leave - Paw-ternity leave for your furry friend - Annual Inspiration Day in addition to your annual leave which increases based on your length of service! - Plus the option to buy and sell up to 5 days leave - A collaborative, friendly work community, with regular social events and virtual cooking, dancing, drawing and house planting classes hosted by our Lunauts - Free lunch and snacks - 0 fees up to a certain amount with Luno from the day you start.\* *\*Offer only available on Luno Instant Buy, not Luno Exchange.* *We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, colour, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.*