Equity Index Volatility Portfolio Manager

A leading global multi-strategy hedge fund with approximately $40bn in assets under management is seeking an experienced Equity Index Volatility Portfolio Manager to build and manage a dedicated volatility trading book.

This is a senior, revenue-generating role with significant capital allocation, access to best-in-class infrastructure, and a mandate to deploy scalable, risk-adjusted strategies across global equity index volatility markets.

Role Responsibilities

• Run a risk-defined equity index volatility book within the firm's multi-PM platform, with full accountability for P&L, drawdowns, and capital usage
• Deploy capital across listed and OTC volatility instruments, including index options, VIX products, and variance-linked structures
• Identify and monetize inefficiencies in volatility markets across implied versus realised volatility, term structure, skew, convexity, and cross-market relative value
• Actively manage net and gross exposures with a focus on vega, gamma, tail risk, liquidity, and scenario-based risk management
• Generate consistent, uncorrelated returns while operating within strict risk limits and stop-loss frameworks
• Collaborate closely with central risk, execution, and technology teams to improve pricing, analytics, and implementation
• Adapt positioning dynamically in response to market regime shifts, macro developments, and volatility supply-demand dynamics
• Build, mentor, and manage junior talent where appropriate to support the scaling of the strategy

Requirements

• Demonstrated track record managing an equity index volatility strategy with consistent, risk-adjusted profitability (At Least $20m in annual Pnl).
• Deep understanding of volatility dynamics, including surface construction, term structure, skew, and the behaviour of key Greeks
• Proven ability to generate returns across different market regimes while maintaining disciplined risk management
• Highly commercial mindset, with a focus on capital efficiency, scalability, and alignment with platform objectives
• Ability to operate autonomously while integrating effectively within a centralized risk and infrastructure model
• Experience building or mentoring a team is advantageous