Interest Rate Derivatives Trader Jobs (NOW HIRING)

This is a hybrid role with the expectation that time working will regularly take place inside and outside of a company office.

We are seeking a highly experienced Director of Product Management to lead product strategy, execution, and platform delivery for the Interest Rate Derivatives business within the FICC organization, with additional responsibility for supporting the build-out of an emerging commodities derivatives capability.
This role will be central to the successful implementation of Murex as the strategic platform for client-facing derivatives activity. The initial focus will be on delivering scalable, controlled, and commercially effective capabilities for Interest Rate Derivatives, including front-to-back workflows, client-facing functionality, lifecycle management, and integration with key internal systems and control functions.
The role will require deep partnership with Treasury, Front Office, Sales, Technology, Operations, Risk, Finance, Legal, Compliance, and other enterprise stakeholders. Given the importance of derivatives to balance sheet, liquidity, funding, hedging, and client risk management solutions, the successful candidate must be able to operate at the intersection of client product strategy, Treasury priorities, market risk, platform implementation, and operational execution.

Over time, this individual will be expected to build and lead a product management team responsible for IRD and adjacent derivatives capabilities, establishing the operating model, governance discipline, and product management standards needed to support a growing and strategically important business.

• Own the product management agenda for Interest Rate Derivatives, including product strategy, roadmap development, prioritization, and delivery execution. Serve as the product lead for client-facing IRD capabilities, including trade capture, execution workflows, lifecycle events, reporting, confirmations, and post-trade client experience.

• Team Leadership and Development – Build, lead and mentor a team of product specialists. Set performance goals and conduct regular evaluations. Mentor and develop product talent, creating a culture of accountability, collaboration, commercial focus, and disciplined execution. Create a scalable product management framework that can support future growth across derivatives products and client-facing channels.

• Establish clear partnership models with Technology, Treasury, Front Office, Operations, and control functions. Define roles, responsibilities, operating routines, governance forums, and product management best practices.

• Ensure product design and delivery are aligned with the firm's risk appetite, regulatory obligations, control standards, and governance requirements. Partner with Risk, Compliance, Legal, Finance, Middle Office and Operations to embed appropriate controls throughout the derivatives lifecycle. Support development of policies, procedures, approval processes, and product governance materials. Ensure robust issue management, escalation, and decision documentation across the implementation lifecycle. Help define metrics and reporting to monitor product performance, operational health, control effectiveness, and client adoption.

• Support the early-stage development of the firm's commodities derivatives capability. Partner with Trading, Sales, Treasury, Risk, Legal, Compliance, and Operations to assess incremental commodities use cases, platform requirements, and control needs. Help define the appropriate product roadmap for commodities based on client demand, transaction experience, risk appetite, operational readiness, and platform scalability.

• Design product capabilities that improve the client experience across onboarding, execution, documentation, trade lifecycle, reporting, and support. Partner with Sales teams to understand client needs and identify opportunities to deliver differentiated solutions. Ensure product functionality is intuitive, scalable, and aligned with client expectations. Translate client and stakeholder feedback into actionable platform and process enhancements.

Bachelor's Degree and 6 years of experience in Interest Rates Derivatives OR High School Diploma or GED and 10 years of experience in Interest Rates Derivatives

Preferred Area of Experience:

• Strong domain knowledge of Interest Rate Derivatives, including products such as swaps, caps/floors, swaptions, and related hedging or client risk management solutions.
• Demonstrated experience leading or materially contributing to a major trading platform implementation, transformation program, or front-to-back derivatives buildout.
• Proven ability to manage complex cross-functional initiatives involving Technology, Front Office, Treasury, Operations, Risk, Finance, Legal, Compliance, and senior leadership.
• Strong understanding of the derivatives trade lifecycle, including execution, booking, valuation, risk capture, collateral, settlement, lifecycle events, regulatory reporting, and client servicing.• Experience with Murex strongly preferred, particularly across trade capture, pricing, risk, lifecycle management, confirmations, settlement, accounting, or reporting workflows.
• Exposure to commodities derivatives, particularly in an early-stage product buildout or controlled expansion environment.
• Prior experience building or leading a product management function.
• Familiarity with regulatory frameworks impacting OTC derivatives, including Dodd-Frank, EMIR, CFTC, SEC, prudential standards, and related reporting or clearing obligations.

The base pay for this position is generally between $166,425.00 and $221,900.00. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.

Bachelor's Degree and 6 years of experience in Interest Rates Derivatives OR High School Diploma or GED and 10 years of experience in Interest Rates Derivatives

Preferred Area of Experience:

• Strong domain knowledge of Interest Rate Derivatives, including products such as swaps, caps/floors, swaptions, and related hedging or client risk management solutions.
• Demonstrated experience leading or materially contributing to a major trading platform implementation, transformation program, or front-to-back derivatives buildout.
• Proven ability to manage complex cross-functional initiatives involving Technology, Front Office, Treasury, Operations, Risk, Finance, Legal, Compliance, and senior leadership.
• Strong understanding of the derivatives trade lifecycle, including execution, booking, valuation, risk capture, collateral, settlement, lifecycle events, regulatory reporting, and client servicing.• Experience with Murex strongly preferred, particularly across trade capture, pricing, risk, lifecycle management, confirmations, settlement, accounting, or reporting workflows.
• Exposure to commodities derivatives, particularly in an early-stage product buildout or controlled expansion environment.
• Prior experience building or leading a product management function.
• Familiarity with regulatory frameworks impacting OTC derivatives, including Dodd-Frank, EMIR, CFTC, SEC, prudential standards, and related reporting or clearing obligations.

The base pay for this position is generally between $166,425.00 and $221,900.00. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.