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Senior Dealer - Treasury Markets

  • Location(s): 1 Threadneedle Street (London)
  • Salary: Up to 96,000

Senior Dealer - Treasury Markets

  • Contract Type: Permanent
  • Ref: R00AOR03246
  • Closing Date: 04 December 2023
  • We're happy to consider flexible working approaches for this role

We’re looking for a broad thinker, who’s capable of sourcing and synthesising a wide range of information into an executable strategy. Critical to that will be developing a deep understanding of where interest rate sensitivities lie on our balance sheet and in our strategy, overlaid with a dynamic understanding of what’s driving interest rate markets. To both develop and make effective use of this expertise, you’ll have the agency to engage with stakeholders from across Nationwide, alongside leveraging our relationships with market counterparties.

Flow and Rate Optimisation (FaRO) is a newly created team within Treasury Markets that has a mandate to originate, structure and execute hedging solutions, alongside using its insight to aid decision making, as Nationwide navigates one of the most volatile interest rate periods in recent history.

You’ll have contracted hours, but we’re happy to support flexible working wherever we can. That might mean sometimes working from home or different Nationwide offices, but your role will be based in our offices in the heart of the City of London and as we like to meet up on a regular basis as a team, we’re generally in the office at least 2-3 days a week. 

If we receive a high volume of relevant applications, we may close the advert earlier than the advertised date, so please apply as soon as you can.

What you’ll be doing

Whilst delivery is a key component of FaRO’s purpose, the team has been created to go far beyond pure market execution. The role holder’s responsibility will extend from optimising the day-to-day hedging of retail product risk for one of the country’s largest retail banking organisations and keeping key stakeholders informed of relevant swap market information, through to supporting the development and delivery of cutting-edge hedging solutions for broader balance sheet risks over the medium to long term.

Ultimately, we purposely don’t want there to be a specified list of everything you might or might not be involved with – we want you to treat this role as a platform to maximise your ability to add value to Nationwide, whilst offering as much support as you need to be successful in that.

About you


  • Solid experience of interest rate risk analysis in the context of a banking balance sheet.
  • Familiarity with the instruments used to manage interest rate risk.
  • A demonstrable interest in financial markets, particularly UK rates.
  • Excellent communication and stakeholder management skills.
  • A track record of delivery over a variety of timeframes.
  • Evidence of working collaboratively across teams and specialisms.

Our Customer First behaviours are all about putting customers and members at the heart of how we work together. You can strengthen your application by showing the behaviours that resonate with you, and how you might have already demonstrated these.

  • Say it straight - This is about being honest and direct with good intent and saying what needs to be said in the room. It’s also about being clear, precise, and using language that we and, importantly, our customers and members can understand.
  • Push for better - This is about aiming high and constantly looking for better in how we work together and serve our customers and members.
  • Get it done - This is about prioritising what will have the greatest impact, being decisive and taking accountability for delivering on the end-to-end outcome.

We know applying for jobs can sometimes feel like you’re sending an application into a black hole. We review each application individually. So, it’s a good idea to call out your most relevant experience on your application to give yourself the best chance.

The extras you’ll get

There are all sorts of employee benefits available at Nationwide, including:

  • A personal pension – if you put in 7% of your salary, we’ll top up by a further 16%
  • Up to 2 days of paid volunteering a year
  • Life assurance worth 8x your salary
  • A great selection of additional benefits through our salary sacrifice scheme
  • Gympass – Access to a range of free and paid options for health and wellness.
  • Access to an annual performance related bonus
  • Access to training to help you develop and progress your career
  • 25 days holiday, pro rata

What makes us different

 Nationwide is the world’s largest building society. With over 15 million customers, we have a relationship with almost a quarter of the UK’s population. We’ve got the scale to compete with the big banks, but we’re not a bank. 

As a building society, we’re owned by our members – that’s our customers who have their current account, mortgage or savings with us. It means we can do things differently to deliver our Purpose – Banking – but fairer, more rewarding, and for the good of society. 

When you work at Nationwide, you can experience that difference for yourself. You’ll be part of a high-performing, purpose-driven organisation that offers rewarding career experiences and a highly competitive range of benefits to match. You’ll also be joining us at an important time as we seek to reach more and more people in the UK. We want everyone in the UK to know that they don’t have to bank with a bank. They can choose a modern mutual instead. 


What to do next

 If this role is for you, please click the ‘Apply Now’ button. You’ll need to attach your up-to-date CV and answer a few quick questions for us.

We respond to everyone, so we will be in contact shortly after the closing date to let you know the outcome of your application. 


Senior Dealer - Treasury Markets

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The figures and percentages shown here are an illustration only.  Your actual salary and benefits will be detailed in your contract of employment if you join us. For example, your role could include a car allowance, relocation expenses or other benefits not shown here.

Here’s the legal bit: The infographic is an indicative summary of some of the key benefits which you may receive if you are employed by Nationwide and these are subject to variation by Nationwide at its discretion. If you work part-time, some benefits may be pro-rated.  This document provides an illustrative summary only and does not create any contractual rights.

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