2026 Graduate Programme - Compliance, Operations & Product Control

Overview

Capula Investment Management is a global hedge fund managing approximately $32 billion in assets. Headquartered in London, Capula also has offices in New York, Singapore, Hong Kong, and Tokyo. The firm focuses on innovative investment strategies that aim to deliver low or negative correlation to traditional equity and fixed-income markets. While roots are in fixed income relative value, strategies now include macro trading, crisis alpha, and other multi-strategy approaches.

The Programme

We are seeking students graduating in 2026 to join our Non-Trading Graduate Programme. The programme will commence between August and September 2026 and offers hands-on experience within one of several key non-investment teams that play a critical role in Capula’s operations and success.

Graduates will join one of the following teams, depending on their skills, interests, and business requirements:

Trading Operations

The Trading Operations team supports our global trading desks across multiple asset classes. The team is responsible for ensuring all trades are accurately captured, confirmed, and settled, while maintaining close oversight of trade lifecycle processes. Graduates will gain exposure to trade support, reconciliations, and operational controls, developing a strong understanding of how investment strategies are executed and supported within a hedge fund environment.

Treasury Operations

The Treasury team manages Capula’s liquidity and collateral positions, ensuring efficient funding and cash management across all entities and strategies. Graduates in this team will learn about margin management, cash forecasting, and the interaction between trading, operations, and financing counterparties. The role provides insight into capital efficiency and risk management within a multi-strategy investment framework.

Product Control

Product Control acts as the link between the trading desks, risk, and finance teams. The team is responsible for daily profit and loss (P&L) reporting, balance sheet controls, and valuation processes. Graduates will learn how to analyse and interpret P&L drivers, understand valuation methodologies, and develop a detailed understanding of derivatives, fixed income products, and macro strategies.

Compliance

The Compliance team ensures that Capula operates within regulatory and ethical standards across all jurisdictions. Graduates will gain exposure to global regulatory frameworks, surveillance processes, and compliance monitoring systems. The role offers a unique opportunity to understand the governance and oversight mechanisms that underpin a global investment management business.

Training and Development

The programme begins with an induction week, including training sessions, presentations, and networking opportunities to help you build the foundational knowledge needed to succeed. You’ll then work closely with experienced mentors who will guide you through on-the-job learning, shadowing, and project work to deepen your understanding of your team’s responsibilities and how they contribute to Capula’s broader objectives. Graduates will also benefit from continuous learning opportunities, including technical training, professional development workshops, and exposure to senior leaders across the firm.

Requirements

Education and Qualifications

• Minimum of a Bachelor\’s degree (or equivalent)

Experience And Skills

Hard Skills

• Proficiency in one or more of the following: Python, SQL, VBA, or Power BI
• Demonstrated interest in financial markets, data, or investment management

Soft Skills

• Strong collaboration skills and ability to work effectively within a team
• A tenacious and solution-oriented approach to problem-solving
• Excellent verbal and written communication skills
• A positive attitude with a willingness to take ownership and deliver on assigned tasks
• Intellectual curiosity and an inquisitive mindset, with a genuine interest in understanding how different areas of the business operate

Benefits

• Competitive salary
• Private medical insurance
• Life assurance
• Pension
• Corporate gym membership (and a complimentary wellness space in our London office)
• Employee restaurant with free breakfast, lunch and dinner

Capula is committed to fostering a collaborative and inclusive environment, providing employees with the opportunity to develop their skills and advance their careers in the financial sector.