Money Market Trader

An opportunity to join the newly formed European Money Market team. The role will support the management of money market funds within the UCITS framework, focusing on liquidity, capital preservation, and competitive returns.

An opportunity to join the newly formed European Money Market team. The role will support the management of money market funds within the UCITS framework, focusing on liquidity, capital preservation, and competitive returns. This role involves assisting senior PMs in portfolio construction, trade execution, and risk management, while ensuring compliance with European Money Market Fund Regulation and UCITS directives.

Key Responsibilities:

Portfolio Management Support:

• Assist in managing VNAV and LVNAV UCITS money market funds across multiple currencies (EUR, GBP, USD).

• Monitor daily liquidity, credit exposures, and duration positioning to maintain regulatory and internal guidelines.

Trade Execution:

• Execute short-term instruments (repos, T-bills, CP, CDs) under supervision.

• Liaise with trading desks and counterparties to optimise execution outcomes.

• Assist in execution of FX orders across IMG, ensuring timely and optimal outcomes.

Research & Analysis:

• Conduct valuation analysis on issuers and counterparties.

• Monitor macroeconomic indicators, central bank policy, and short-end yield curves to inform investment decisions.

 Risk & Compliance:

• Ensure adherence to UCITS and MMF regulations, including diversification, WAM/WAL limits, and liquidity buckets.

• Support internal audits and regulatory reporting requirements.

Product Growth:

• Participate in product development initiatives for new UCITS money market offerings.

 Client & Stakeholder Interaction:

• Prepare performance attribution, market commentary, and client reporting materials.

Skills & Qualifications:

• Degree in Finance, Economics, or related field; CFA or progress toward CFA preferred.
• Experience in fixed income or money markets (internship or analyst level acceptable).
• Strong understanding of UCITS framework and European MMF regulations.
• Familiarity with short-term instruments (repos, CP, CDs) and liquidity management.
• Proficiency in Bloomberg, Python and risk systems.
• Analytical mindset with attention to detail and ability to work under pressure.

Competencies:

• Strong communication and teamwork skills.
• Ability to prioritise tasks in a fast-paced environment.
• Commitment to compliance and risk awareness.

Special Factors

• Vanguard is not offering visa sponsorship for this position.
• 5 days in office role.

About Vanguard

Vanguard is an investment company unlike any other. It was founded by Jack Bogle in the US in 1975 on a simple but ground-breaking idea: that an investment company should handle its funds solely in the interests of its clients. Jack helped bring investing to the masses with the index fund. Index funds do not pick individual shares or bonds to beat the market. They supervise the performance of the entire market. Or as Jack put it, "Don't look for the needle in the haystack. Just buy the haystack!”. We have stood for low-cost, uncomplicated investing ever since. Over the last 45 years people have come round to our way of thinking and more than 30 million investors worldwide now trust us with their money.

How We Work

Vanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.