ABOUT THIS ROLE

We are seeking a Convertible Bonds Trader to join our Equity Capital Markets team, with a specific mandate around volatility-driven strategies. This is a hands-on role for someone who understands convertible arbitrage mechanics and wants to build a career around trading the volatility component of converts (gamma, vega, skew) alongside credit and equity-linked risk.

You'll be Responsible for:
● Trade convertible bonds with an emphasis on the embedded optionality — managing gamma, vega, and volatility exposure across the book
● Identify and execute relative value opportunities between convertible bonds, their underlying equity, listed options, and credit
● Monitor and hedge delta, gamma, and vega exposures in real time; adjust hedges as underlying equity and implied vol shift
● Build and refine pricing/valuation views using derivatives pricing tools, challenging model outputs against market-observed levels
● Analyze issuer credit quality, capital structure, and fixed income terms (yield-to-worst, conversion premium, credit spread) as inputs to trade decisions
● Partner with senior traders on position sizing, risk limits, and book construction
● Stay current on primary issuance, calls/puts, corporate actions, and other events that affect convert valuations

YOUR EXPERIENCE:
● 2–5 years of experience trading or supporting a trading function in convertible bonds, equity derivatives, or
volatility products
● Strong grounding in options theory (Black-Scholes, Greeks, vol surfaces, skew/term structure dynamics)
● Solid fixed income math (yield curves, duration, credit spreads, YTW/YTM/YTC mechanics)
● Proficiency with Bloomberg (CBs, OMON, derivatives pricing functions) and other derivatives pricing/analytics platforms
● Demonstrated ability to think in terms of risk (Greeks) rather than just price
● Strong quantitative reasoning and comfort making decisions under uncertainty and time pressure
● Excel proficiency required; Python or other scripting ability a plus for automating analysis
● A competitive, self-directed mindset suited to a prop trading environment — you'll be given real risk and expected to earn more of it
● No specific degree required — but a track record and demonstrated market knowledge matter

OUR REWARDS

We offer a robust package of employee perks and benefits, including healthcare benefits (medical, dental and vision, EAP), competitive PTO, 401k match, parental leave, and HSA contribution match. We also provide our employees with a paid subscription to the Calm app and offer generous external learning and tuition reimbursement benefits. As a hybrid workforce, we offer our employees the ability to work remotely up to two days a week.

Base pay offered may vary depending on job-related knowledge, skills, experience, and office location. This position also may be eligible for a discretionary annual bonus in addition to a range of health & wellness benefits, enhancing your overall compensation package.

Base Salary Range