Derivative Oversight Manager

Role Overview

The Derivative Oversight Manager is responsible for ensuring the accuracy, integrity, and transparency of derivative valuations, risk reporting, and performance attribution. The role provides independent oversight of derivative positions by validating pricing, monitoring risk exposures, and analysing performance drivers. Working closely with trading, portfolio management, risk, operations, and external service providers, the role holder helps ensure derivative activity is measured, controlled, and clearly explained, supporting informed investment decisions and robust governance.

Key Responsibilities

• Validate and oversee the valuation of derivative instruments (e.g. swaps, forwards, and options etc), ensuring pricing accuracy, consistency, and appropriate challenge.
• Investigate and resolve valuation discrepancies in partnership with internal stakeholders, counterparties, and external service providers.
• Monitor, analyse, and report key risk metrics associated with derivative positions, including sensitivities, exposures, and leverage.
• Perform hedge effectiveness and performance attribution analysis to explain profit and loss impacts arising from derivative strategies.
• Provide clear insight into the drivers of derivative performance, including market movements, carry, and execution effects.
• Partner with trading, portfolio managers, and risk teams to help ensure positions remain within defined risk limits, mandates, and governance standards.
• Support compliance with internal governance standards, accounting policies, and relevant regulatory requirements.
• Contribute to the development and enhancement of valuation models, methodologies, controls, and oversight frameworks.
• Support audit activity by maintaining clear documentation and delivering reporting related to derivative valuations and controls.
• Work closely with the Derivative Manager to ensure reporting is accurate.

Skills & Experience

• Essential: Bachelor's degree in a quantitative or analytical discipline such as Mathematics, Economics, Engineering, Finance, or Data Science.
• Relevant experience in derivatives within insurance, asset management, investment banking, or a similar quantitative environment - Minimum 8+ years.
• Strong understanding of derivatives and investment control frameworks, with practical experience across the design, execution, modelling, or oversight of derivative strategies.
• Strong analytical and modelling capability, including advanced Excel and experience with Python and/or SQL (or equivalent tools) to automate and scale analysis.
• Proficiency with market data platforms such as Bloomberg, with the ability to source, interpret, and validate market and security data.
• Working knowledge of investment management and/or modelling systems, for example Aladdin.
• Strong analytical, problem-solving, and stakeholder management skills, with the ability to manage deliverables end to end and prioritise effectively.
• Strong stakeholder influence, with the credibility to work constructively across investment, risk, operations, and external partners.
• Clear and concise communication skills, with the ability to explain technical issues to both specialist and non-specialist audiences.
• Sound judgement and professional integrity when handling sensitive issues, exceptions, and control matters.
• Strong sense of ownership and accountability, with the ability to manage priorities and deliver to deadlines.
• Continuous improvement mindset, with an interest in enhancing processes, controls, and analytical capability.

Desirable

• Working knowledge of derivative management system (e.g. Murex / Numerix etc).
• CFA and/or actuarial qualification or equivalent, either completed or in progress.

Critical Skills

• Customer Focused: Passionate drive to delight our customers and offer unique solutions that deliver on their expectations.
• Critical Thinking: Thoughtful process of analyzing data and problem solving data to reach a well-reasoned solution.
• Team Mentality: Partnering effectively to drive our culture and execute on our common goals.
• Business Acumen: Appreciation and understanding of the financial services industry in order to make sound business decisions.
• Learning Agility: Openness to new ways of thinking and acquiring new skills to retain a competitive advantage.