At a Glance
- Tasks: Trade high volumes of banknotes and manage FX exposure with innovative strategies.
- Company: Join a Fortune 100 company connecting clients to global markets.
- Benefits: Competitive salary, career progression, and a dynamic work environment.
- Other info: Opportunity for professional growth in a collaborative and innovative team.
- Why this job: Make an impact in the fast-paced world of banknote trading and FX markets.
- Qualifications: Extensive experience in banknote trading and strong understanding of FX mechanics.
The predicted salary is between 60000 - 80000 £ per year.
Company Overview: Connecting clients to markets – and talent to opportunity. With 5,400+ employees and over 80,000 institutional, commercial, and payments clients, we operate from more than 80 offices spread across six continents. As a Fortune 100, Nasdaq-listed provider, we connect clients to the global markets – focusing on innovation, human connection, and providing world-class products and services to all types of investors.
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.
Key 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)
Senior Banknote Trader in London employer: StoneX
At StoneX Group, we pride ourselves on being an exceptional employer, offering a dynamic work culture that fosters innovation and collaboration across our global network. With extensive opportunities for professional growth and development, particularly in the fast-paced world of banknote trading, employees benefit from a supportive environment that values their contributions and encourages career progression. Located in a vibrant financial hub, our team enjoys access to cutting-edge resources and a diverse client base, making every day an exciting opportunity to connect markets and talent.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Banknote Trader in London
✨Tip Number 1
Network like a pro! Reach out to people in the banknote trading and FX markets. Use LinkedIn to connect with industry professionals, join relevant groups, and engage in discussions. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of banknote markets and FX trading strategies. Be ready to discuss your experience with managing multi-currency positions and hedging techniques. Show them you’re not just a candidate, but a potential asset to their team!
✨Tip Number 3
Don’t just apply anywhere; focus on companies that align with your career goals. Check out our website for opportunities at StoneX Group. Tailor your approach to highlight how your skills in banknote trading can contribute to their success.
✨Tip Number 4
Follow up after interviews! A quick thank-you email can go a long way. Reiterate your interest in the role and mention something specific from the interview that excites you about the opportunity. It shows you’re keen and professional!
We think you need these skills to ace Senior Banknote Trader in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Senior Banknote Trader role. Highlight your experience in banknote trading and FX markets, and don’t forget to showcase any relevant qualifications. We want to see how your skills align with what we’re looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you’re passionate about banknote trading and how your background makes you a perfect fit for our team. Keep it concise but impactful – we love a good story!
Showcase Your Achievements:When detailing your experience, focus on your achievements rather than just responsibilities. Did you manage to optimise inventory turnover or successfully execute hedging strategies? We want to hear about it! Numbers and results speak volumes.
Apply Through Our Website:We encourage you to apply through our website for the best chance of getting noticed. It’s super easy, and you’ll be able to keep track of your application status. Plus, it shows us you’re serious about joining our team!
How to prepare for a job interview at StoneX
✨Know Your Numbers
As a Senior Banknote Trader, you'll need to demonstrate your advanced numeracy skills. Brush up on key metrics like Value at Risk (VaR) and P&L attribution. Be ready to discuss how you've used these in past roles to manage risk and make informed trading decisions.
✨Showcase Your Trading Expertise
Prepare to talk about your experience with banknote trading and FX markets. Have specific examples ready that highlight your ability to manage multi-currency positions and your understanding of hedging strategies. This will show that you’re not just familiar with the concepts but have successfully applied them.
✨Understand the Market Landscape
Research the current trends in banknote and FX markets. Being able to discuss recent developments or challenges in the industry will impress your interviewers. It shows that you’re proactive and genuinely interested in the field, which is crucial for a role that requires constant market awareness.
✨Align with Company Values
StoneX Group values innovation and human connection. Think about how your personal values align with theirs and be prepared to share examples of how you've fostered collaboration in previous roles. This will help you stand out as a candidate who fits well within their culture.
