At a Glance
- Tasks: Trade and manage banknotes across currencies while optimising risk and profitability.
- Company: Leading financial institution with a focus on innovation and market leadership.
- Benefits: Competitive salary, comprehensive benefits, and opportunities for professional growth.
- Other info: Permanent, full-time role with excellent career advancement potential.
- Why this job: Join a dynamic team and make impactful decisions in the fast-paced world of finance.
- Qualifications: Extensive experience in banknote and FX trading with strong analytical skills.
The predicted salary is between 60000 - 80000 £ per year.
Position Purpose
The Senior Banknote Dealer is responsible for the commercial management of current-issue circulating and legacy but tradable banknotes, with a strong emphasis on FX-linked pricing, inventory risk, and hedging strategies. The role combines physical banknote trading expertise with treasury-style risk management, ensuring profitability and capital protection across multi-currency positions. The position requires advanced knowledge of banknote markets, FX markets, spreads, liquidity, and counterparty risk, and close coordination with treasury, compliance, and operations teams.
Responsibilities
- Trade high volumes of banknotes across major and emerging-market currencies.
- Manage bid/offer spreads for wholesale and institutional clients.
- Source notes from central banks, commercial banks, exchange houses, and international counterparties.
- Optimise inventory turnover while balancing availability and carry costs.
- Price banknotes dynamically using spot FX, forward points, and market premiums.
- Actively manage FX exposure arising from physical banknote inventories.
- Design and execute hedging strategies using FX spot and forwards, swaps and rolling hedge structures, and natural hedges between buy/sell flows.
- Monitor open currency positions and Value at Risk (VaR).
- Work closely with Treasury to align hedges with group FX policy.
- Assess basis risk between physical banknote pricing and interbank FX markets.
Qualifications
- Extensive experience in banknote trading, FX trading, or treasury functions.
- Proven experience managing multi-currency physical cash positions.
- Strong understanding of FX markets, forwards, swaps, and hedging mechanics; demonstrated ability to price risk and manage margin in volatile markets.
- Advanced numeracy and risk awareness.
- Strong commercial judgement and decision-making capability.
- Experience in wholesale banknote desks or central bank-appointed roles.
- Treasury or FX trading background.
- Familiarity with VaR, P&L attribution, and hedge effectiveness analysis.
- Multilingual skills.
- Professional qualifications (e.g. ACI, ACT, CFA, IBNS).
Permanent, full-time.
Senior Banknote Trader in London employer: StoneX Group Inc.
As a leading player in the financial sector, our company offers an exceptional work environment for Senior Banknote Traders, characterised by a strong emphasis on professional development and collaboration. With a focus on innovative trading strategies and risk management, employees benefit from a dynamic culture that encourages growth and learning, while enjoying competitive compensation and comprehensive benefits. Located in a vibrant financial hub, we provide unique opportunities to engage with global markets and central banks, making it an ideal place for those seeking a rewarding career in banknote trading.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Banknote Trader in London
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like StoneX Group Inc.. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Senior Banknote Trader in London
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to StoneX Group Inc..
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on StoneX Group Inc.'s website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at StoneX Group Inc.
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with StoneX Group Inc..
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at StoneX Group Inc. will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former StoneX Group Inc. employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
