G10 Non-USD Rates and FX Trader

Non-USD Rates Trader

At U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel atall from Day One.

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:

• 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

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $170,255.00 - $200,300.00