Director or Vice President, FX/STIR Trading

BMO Capital Markets is a leading, full-service North American-based financial services provider offering equity and debt underwriting, corporate lending and project financing, merger and acquisitions advisory services, securitization, treasury management, market risk management, debt and equity research, and institutional sales and trading. With over 2,700 professionals in 30+ locations worldwide, including 20 offices in North America, BMO Capital Markets is part of BMO Financial Group, one of the largest diversified financial services providers in North America.

About the role

The Global Foreign Exchange Team is hiring a Director or Vice President of FX/STIR Trading to provide a markets-based suite of trading solutions to Institutional, Corporate, and Retail clients. This role offers integrated capabilities to deliver leading market insight, risk management, and execution services, including access to major global markets across foreign exchange and interest rates.

The primary responsibility is to provide pricing in FX, Short-Term Interest Rates (STIR), and cross-currency basis for G10 currencies to FX and Rates sales teams across North America and Europe. The role requires strong proficiency in trading rates and FX, with expertise in FX spot and forward markets. The core objective is to manage risk across STIR, FX, and basis positions during NA trading hours while delivering competitive pricing to enhance BMO’s FX business profitability.

This position involves collaborating with global teams, mentoring junior staff, and contributing to BMO’s Global franchise development. The role aims to strengthen BMO’s market share and client relationships while operating within established risk parameters.

Responsibilities

• Serve as a key member of the deal team, driving sector penetration, client engagement, and profitability.
• Develop and deepen relationships with existing and prospective clients through tailored financial market solutions.
• Manage a trading book, including responsibility for risk, P&L, pricing, and position limits.
• Manage FX Forward and STIR risk positions, including outright delta, relative value opportunities, basis trading, and curve positioning, while optimizing risk-adjusted returns within approved limits.
• Identify cross-selling opportunities and expand share of wallet through a comprehensive understanding of client needs.
• Partner closely with Sales, Research, and other stakeholders to deliver seamless client coverage and market insights.
• Anticipate evolving client needs and provide strategic, innovative, and client-focused solutions.
• Negotiate transaction terms using market intelligence, analytics, and internal expertise.
• Enhance the client experience by leveraging the firm’s capabilities and resources.
• Produce and interpret financial, market, and risk analyses to support client activity and business decisions.
• Ensure compliance with risk, regulatory, and control frameworks while managing the Bank’s exposure.
• Drive revenue growth, capital optimization, and operational efficiencies through proactive opportunity identification.
• Evaluate risk-return trade-offs effectively and take accountability for risks assumed.
• Act as a subject matter expert and trusted advisor to senior leaders and stakeholders.
• Apply sound judgment, creativity, and expertise to solve complex, ambiguous, and non-routine business challenges.

Qualifications

• Typically 5+ years of relevant experience and a post-secondary degree in a related field (or equivalent combination of education and experience).
• Degree in Accounting, Economics, Mathematics, or Statistics; CFA preferred.
• Thorough knowledge of capital markets, pricing, trading/hedging strategies, and various capital markets products.
• Strong understanding of trading procedures and broader regulatory and financial concepts.
• Strong quantitative analysis, technology, and financial analysis skills.
• Strong risk management skills, fundamental analysis skills, and leadership abilities.
• Seasoned professional with a combination of education, experience, and industry knowledge.
• Expert-level verbal and written communication skills.
• Expert-level analytical and problem-solving skills.
• Expert-level influence and collaboration skills, with a focus on cross-group teamwork.
• Ability to manage ambiguity and make data-driven decisions.

Pay

The target salary for this position in New York is USD $260,000 for Vice President and USD $275,000 for Director, subject to the candidate meeting specific skills, experience, education, and qualification requirements. Salaries vary based on location, skills, experience, and qualifications and may include a commission structure. For commission roles, the listed salary represents the expected target for the first year.

BMO Financial Group’s total compensation package may include performance-based incentives, discretionary bonuses, and other perks and rewards.

Benefits

• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans

For more details, visit BMO Total Rewards.