U.S. Bank

G10 Non-USD Rates and FX Trader

U.S. Bank$170K — $200K *
Finance & Insurance
5 - 7 years of experience
Job Overview by Ladders

Qualifications

  • 5+ years experience in FX swaps trading, Non-USD rates, funding, or basis trading
  • Strong understanding of FX forward pricing mechanics and money market curves
  • Familiarity with cross-currency basis drivers
  • Deep knowledge of market microstructure in FX and rates
  • Proven experience bridging voice flow and electronic execution

Responsibilities

  • Make two-way markets in G10 FX swaps including spot/forwards
  • Manage funding spreads and liquidity risk across different currencies
  • Price in accordance with money market curves and balance sheet constraints
  • Risk-manage G10 cross-currency basis risk
  • Support sales teams with pricing and market insights
  • Assist clients with FX hedging costs and funding alternatives
  • Collaborate with eFX teams to enhance pricing engines and liquidity

Benefits

  • Healthcare (medical, dental, vision)
  • Life insurance options
  • Short-term and long-term disability coverage
  • Pregnancy and parental leave
  • 401(k) with employer contributions
  • Generous paid vacation starting from two to five weeks
  • Up to 11 paid holidays
  • Adoption assistance
  • Sick and Safe Leave accruals
Full Job Description
Job Description

We are seeking a Non-USD Rates Trader with a primary focus on G10 FX swaps pricing and risk management, alongside the ability to risk-manage cross-currency basis swaps.

This role sits at the intersection of rates, FX, and balance sheet, requiring a strong understanding of funding markets, central bank regimes, and cross-currency liquidity dynamics. The trader will be responsible for pricing client flow, managing funding risk, and contributing to balance sheet-efficient trade structures across major currencies.

Key Responsibilities:

FX Swaps Trading & Pricing
  • Make two-way markets in G10 FX swaps (spot/forwards, short-dated and out the curve)
  • Manage forward points, funding spreads, and liquidity risk across currencies
  • Price in line with:
    • Money market curves (OIS, IBOR where relevant)
    • Cross-currency basis dynamics
    • Balance sheet constraints
  • Risk-manage G10 cross-currency basis risk (e.g., EURUSD, USDJPY, GBPUSD)
  • Monitor and trade basis dislocations driven by issuance, hedging flows, and funding pressures


Client & Sales Interaction
  • Support FX and rates sales teams with pricing, market color, and structuring ideas
  • Assist clients in understanding:
    • FX hedging costs
    • Cross-currency funding alternatives
  • Communicate clearly around market drivers (central banks, issuance, flows)


Electronic Trading & Infrastructure
  • Work with eFX and platform teams to improve:
    • FX swaps pricing engines
    • Liquidity distribution and skewing
  • Monitor electronic flow (RFQ, streaming) and adjust pricing accordingly
  • Contribute to automation and workflow improvements


Qualifications & Experience
  • 5+ years experience in:
    • FX swaps trading / Non-USD rates / funding / basis trading
  • Strong understanding of:
    • FX forward pricing mechanics
    • OIS and money market curves
    • Cross-currency basis drivers


Skills & Competencies
  • Deep grasp of market microstructure across FX and rates
  • Ability to translate macro and flow into pricing decisions
  • Strong numerical intuition around funding and carry
  • Excellent communication across trading, sales, and treasury
  • High attention to risk, liquidity, and balance sheet usage
  • Experience with corporate, institutional and issuance-related flows
  • Familiarity with xccy basis curve trading and relative value
  • Experience bridging voice flow and electronic execution


Benefits:

Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:
  • Healthcare (medical, dental, vision)
  • Basic term and optional term life insurance
  • Short-term and long-term disability
  • Pregnancy disability and parental leave
  • 401(k) and employer-funded retirement plan
  • Paid vacation (from two to five weeks depending on salary grade and tenure)
  • Up to 11 paid holiday opportunities
  • Adoption assistance
  • Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law


Review our full benefits available by employment status here.

Posting may be closed earlier due to high volume of applicants.

About U.S. Bank

U.S. Department of the Treasury is a government agency responsible for promoting economic prosperity and ensuring financial security. The department is responsible for a wide range of activities such as advising on economic and financial issues, encouraging sustainable economic growth, and fostering improved governance in financial institutions.

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Join the dynamic team at U.S. Bank, one of the nation's top banking institutions, where your career journey is as promising as the services we provide to our customers. At U.S. Bank, we are committed to fostering a culture of innovation, leadership, and diversity that is unmatched in the industry.

Explore Job Opportunities and Growth

At U.S. Bank, we offer a variety of job opportunities that cater to a range of skills and professional interests. Whether you are looking for a position in finance, technology, customer service, or management, U.S. Bank is hiring talented individuals who are eager to contribute to our mission and grow with us.

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Choosing a career at U.S. Bank means more than just employment. We offer comprehensive benefits designed to enhance your life and well-being. From health and wellness programs to retirement plans, we ensure our team members are supported both personally and professionally.

Our Commitment to Diversity and Inclusion

Diversity and inclusion are at the core of our values at U.S. Bank. We are dedicated to creating an environment where all employees feel valued and included. Our diversity training programs are part of our commitment to an inclusive workplace, where everyone can thrive.

Leadership and Professional Development

Leadership at U.S. Bank is about more than guiding teams – it's about inspiring them. We invest in leadership training and professional development programs that help our employees become the best in their fields. By fostering a culture of learning and growth, we prepare our team members to take on new challenges and leadership roles.

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Learn more about U.S. Bank
Size
68,796 employees
Market Cap
$66.2 billion
Industry
Net Income
$4.9 billion
5 Year Trend
+0.5%
NASDAQ

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