The Mandate
Trade FX forwards and cross-currency basis inside an established multi-manager, multi-strategy hedge fund pod. You run a risk allocation alongside the PM and build the Python tools that find, size and manage the trades.
- This is a risk-taking seat with a defined allocation, not a support role.
- Not a directional FX seat. The edge is in basis and funding dislocations, not directional macro views.
The Hard Questions (What You Will Solve)
- What is driving the basis: balance sheet costs, quarter-end funding or hedging flows, and how do you tell which one is in play?
- How do you size and hold a basis trade when funding costs move against you before it converges?
- How do you turn a trade idea into a repeatable framework in Python, from data and signals to sizing and risk, that still works when the size grows?
The Structural Edge
- Pod capital with a clear path to a larger allocation as the book proves out.
- Existing data, execution and risk infrastructure, so you build signals, not plumbing.
- Direct mentorship from an experienced PM in the same seat.
Ideal Profile
Key Metrics
- 3+ years working in a fund, ideally a multi-manager or single manager hedge fund firm.
- Hands-on exposure to FX swaps, cross-currency basis or STIR.
- Strong analytical depth, shown through a robust framework with a proven record of scaling ideas as size and capital grew.
- Trade ideas you can walk through end to end: the thesis, the sizing, the risk and the outcome.
Technical skills
- Strong Python for analytics, backtesting and research (pandas, numpy).
- Comfortable working with large market datasets. SQL is a plus.
Compensation & Preferences
- Non-compete: Client is willing to consider candidates with up to 9 months non-compete, preference given to those available sooner.
- Compensation: £190k-250k plus discretionary and very competitive, set by experience and track record.
- Relocation: International relocation support is available.
This is not a guarantee of compensation or salary; a final offer amount may vary based on factors including but not limited to experience, domain expertise, and geographic location.
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Associate Portfolio Manager - FX & Cross-Currency Basis employer: Onyx Alpha Partners
Onyx Alpha Partners is an exceptional employer, offering a dynamic work environment where innovation and analytical thinking are at the forefront. Located in the UK, we provide our employees with unparalleled growth opportunities, a collaborative culture, and the chance to shape the future of our rates options desk. Join us to be part of a team that values independence, creativity, and professional development.
