Join us as a Rates Portfolio Manager
- This is your opportunity to make a significant impact with your work, managing economic risk arising from balance-guaranteed swap portfolios and playing an active role in the development of non-traded interest rate risk management in NatWest
- You’ll be working with Treasury Markets on execution, and with the Commercial & Institutional franchise to support the origination of their cancellable fixed rate loans. In addition, we expect you to support the franchises by using your knowledge of interest rate derivatives to better inform their customer product design
- This role offers you significant scope to build on your technical and commercial skills in a setting where your decisions impact the financial results of the bank
As a Rates Portfolio Manager, you’ll be using interest rate swaps and swaptions to manage the balance-guaranteed swap portfolios in Treasury. In addition, you’ll need to have a good understanding of databases, Python and Structured Query Language to calculate the position and dynamically recalibrate back book and pipeline hedging assumptions as customer behaviour evolves..
In addition to this, you’ll be:
- Inputting into the management of NatWest’s structural hedge and providing subject matter expert input into franchise products, risks and risk management
- Working with the Hedge Accounting team to minimise accounting P&L volatility associated with risk management activity
- Manage the balance-guaranteed swap model review cycle and develop further insights into customer behaviour
- Producing papers on relevant issues for our committees and senior audiences
To join us in this role, you’ll need excellent product knowledge of retail and commercial products and non-linear interest rate derivatives, together with experience in managing risk in a mark-to-market setting. You’ll have great communication and interpersonal skills, with the ability to collaborate with stakeholders across the business at different levels.
You’ll also need:
A comprehensive understanding of market risk frameworks
- Demonstrable experience of applying data science techniques to analyse big data
- Frequent and comprehensive use of Python, Bloomberg and typical bank cloud data systems, derivative systems and risk systems
- The ability to work well under pressure and prioritise to meet deadlines
- To be self-starting and a desire to innovate and improve your work
Hours
35Job Posting Closing Date:
31/10/2025Ways of Working:HybridTop Skills
What We Do
We’re a business that understands when our customers and people succeed, our communities succeed, and our economy thrives. As part of our purpose, we’re looking at how we can drive change for our communities in enterprise, learning and climate.
As one of the leading supporters of UK business, we’re prioritising enterprise as a force of change. We’re focusing on the people and communities who have traditionally faced the highest barriers to entry and figuring out ways to remove these.
Learning is also key to our continued growth as a company in an ever changing and increasingly digital world. By setting a dynamic and leading learning culture, our people prosper, and our customers are given the tools to continue to improve their financial capability and confidence.
One of the biggest challenges we all face in our future is climate change. That’s why we’ve put it right at the core of our purpose. We want to champion climate solutions with financing and entrepreneurial support, fully embed climate into our culture and decision making, and be climate positive by 2025.
We’re committed to using our purpose to break down barriers, drive change and ultimately create a great place to work.
