Head of Trading Desk
“Contributions are valued by depth of analysis and expertise, not rank. SWIB values winning the race for performance, mastering what others consider hard and a lifelong commitment to learning." – Executive Director/CIO David Villa
Making a Difference
SWIB is a trusted and skilled global investment organization managing the assets of the Wisconsin Retirement System (WRS) and other separately managed funds. With more than $110 billion in total assets under management, SWIB is one of the world’s largest institutional investors. Sophisticated investment management strategies, forward-looking technologies, and strong internal asset management make SWIB a leading investment organization.
For public employees in Wisconsin, SWIB is a unique and valuable partner. Investing for the financial security of more than 632,000 individuals – and for the 1,500 Wisconsin employers who contribute on behalf of their employees – SWIB’s strong management of the WRS has helped fuel one of only a few fully funded public pension funds in the country. SWIB’s long-term investment returns meet the challenges of a constantly evolving investment landscape while helping grow and protect the assets of the WRS, the 8th largest public pension fund in the U.S. and 25 largest public or private pension fund in the world.
We are a mission driven organization and the participants we serve are our mission. By bringing a disciplined, prudent and innovative approach to market opportunities, SWIB has been successful in generating respectable returns and maintaining the trust of the beneficiaries and stakeholders of the funds we oversee.
Join HIGHER PERFORMERS
Home to Top Talent
SWIB has long been recognized as an investment leader because of its success in maintaining the WRS and for the highly-qualified staff overseeing the retirement trust funds. SWIB’s internal team invests a majority of its assets under management. This means SWIB is committed to investing in professionals that will keep the organization at the forefront of the investment industry. As an innovative organization, SWIB offers professional development opportunities that enable staff to grow and develop. Approximately 50 percent of SWIB’s investment professionals are Chartered Financial Analyst (CFA) charterholders.
About the Team
SWIB’s Trading Team is a three-person team which trades for SWIB’s internal equity ($11bn AUM), multi-asset ($4bn AUM), and exposure management portfolios. The team seeks best possible execution on a wide variety of global securities, including equities, currencies, futures, options, and swaps. Last year the team traded approximately $35 billion in physical equities and over $100 billion in notional futures contracts.
SWIB is seeking an individual to join the agency as the Head of Trading. The individual will work closely with the firm’s public equity teams, multi-asset teams, and fixed income teams to execute trades with multiple partners across the globe.
• Develop and execute a strategic vision for the operation of SWIB’s trading desk.
• Provide direct management and oversight to a team of two additional traders.
• Execute global equity, foreign currency, and derivative trades using a variety of methods, technologies, and electronic platforms.
• Proactively communicate with our investment teams with respect to news, order instructions, and changing market conditions.
• Manage and ensure efficient/best execution of SWIB’s trades with an eye on minimizing execution costs, market impact, and information leakage.
• Oversee the Transaction Cost Analysis process and use the data to provide insights on how the desk and investment teams can improve overall execution over time.
• Work collaboratively with SWIB’s investment and IT leadership team to ensure the desk has the infrastructure and trading architecture necessary to fully leverage all trading opportunities.
• Implement a variety of trading strategies and techniques that help achieve our strategic goals, including the use of algorithmic trading, dark pools, buyside-to-buyside crossing networks, and venue analysis.
• Develop clearly articulated controls to mitigate operating risk on the trading desk.
• Work effectively with the Investment leadership team, Operations, IT, and compliance to oversee the trading desk and implement necessary changes.
The ideal candidate:
• Bachelor’s degree and least 10 years of experience working on a buy-side trading desk.
• Understanding of market structure (Europe, Asia, and U.S.), algorithmic trading, and trading securities of varying capitalizations and liquidities.
• Experience trading global equities, currencies, options, futures, swaps, and other derivatives.
• Proven track record of delivering both management of equity trading operations and delivering change in this space.
• Strength in shaping a technology strategy to drive innovation.
• Excellent interpersonal skills with the ability to engage and influence successfully a broad range of individuals.
• Experience working in a global organization and implementing change with sensitivity to existing structures.
• High ethical standards and the ability to notice and rectify weaknesses in policies and procedures.
• Self-starter with the ability to think creatively and laterally.
• Ability to navigate a complex internal infrastructure that involves numerous groups and individuals to get things done.
• High service orientation with a collaborative, cooperative attitude.
• Ability to self-motivate, multi-task and work both independently as well as part of a team.
• Attention to detail and accuracy in work combined with a strong work ethic.
• Exceptional logical reasoning and analytical skills.
• Soft project skills and the ability to lead change initiatives managing deadlines, task lists, and coordinating activities across areas.
• Open-minded, logical, confident, highly ethical, creative, and intellectually curious.
• Demonstration of an appreciation for a diverse and inclusive workforce.
• Strong presentation and communication skills both written and verbal, with a data-driven focus.
• Ability to work occasional U.S. nights within a team rotation.
• Competitive McLagan-base salary
• Meaningful performance-based incentive compensation
• A comprehensive benefit package
• Educational and training opportunities
• Tuition reimbursement
• Challenging work in a professional environment
The position requires U.S. work authorization and residency in, or willingness to relocate to the Madison, Wisconsin area. SWIB is prepared to offer relocation assistance as needed.
Please use the following link to apply: http://www.swib.state.wi.us/careers?gnk=job&gni=8a78879e6c507356016c7861845e015f&gns=Pensions%20%26%20Investments