Portfolio Manager - Volatility

Overview

A global macro fund is expanding in Dubai and is seeking a Portfolio Manager specializing in cross-asset volatility. This role focuses on generating alpha independently from the fund's other strategies, aiming for returns that are uncorrelated to existing portfolio exposures rather than hedging.

Key Responsibilities

• Manage a cross-asset volatility trading book emphasizing trades with high convexity and high payout profiles.
• Detect mispriced probabilities in the market and convey macroeconomic views primarily through options or alternative instruments with superior expected return potential.
• Leverage trade structuring as a primary source of competitive advantage and alpha generation.
• Develop proprietary scanners and screening mechanisms to price a large volume of binary options daily, thereby identifying trading opportunities.
• Achieve a return profile that is decorrelated from the main portfolio; accept irregular profit and loss patterns as long as expected returns remain positive and attractive.

Candidate Requirements

• Experience as a macro strategist or structurer within a banking environment, ideally complemented by a proven track record on the buy-side.
• Expertise across volatility surfaces, skewness, binary options, and complex structured products.
• Broad cross-asset knowledge is preferred; however, specialists focused on FX, rates, or equity derivatives who demonstrate curiosity and adaptability will also be considered.
• Comfortable with practical tooling development; extensive quant or coding expertise is not mandatory.
• Willingness to manage a long-convexity portfolio that is distinct from a tail risk hedge.
• Must be willing to relocate and work from Dubai.