Volatility Portfolio Manager – Systematic Options & Vol Strategies | Hedge Fund | London

A specialist volatility hedge fund is seeking a Systematic Volatility Portfolio Manager to manage a book of options and volatility strategies. This is a PM seat for a quant with a verified live track record in systematic options trading, vol arbitrage, or dispersion — with full P&L ownership and meaningful capital from day one.

About the Role:

You will run a systematic volatility book encompassing equity options, variance swaps, volatility surface trading, and dispersion strategies. The role combines deep derivatives expertise with quantitative rigour — you will own both the research agenda and the live book.

Key Responsibilities:

• Manage a systematic options and volatility book with full P&L accountability

• Develop and continuously improve systematic signals for implied vol, realised vol, and vol surface dynamics

• Construct and manage a portfolio of systematic options strategies: dispersion, variance swaps, skew trades, vol arb

• Oversee Greeks management, delta hedging, and risk within agreed parameters

• Work with quant developers to automate and scale execution and risk management infrastructure

• Conduct ongoing research into vol regime dynamics, term structure anomalies, and cross-asset vol relationships

• Collaborate with the risk team on scenario analysis, tail risk, and drawdown management

Required Experience & Qualifications:

• Demonstrated live track record in systematic volatility, options, or derivatives trading with verifiable P&L

• 5+ years in systematic options trading, volatility research, or derivatives PM at a hedge fund or prop desk

• Deep knowledge of equity options markets, volatility surface dynamics, and derivatives pricing

• Strong quantitative background — PhD in a quantitative field strongly preferred

• Proficiency in Python; C++ or Julia experience a significant advantage

• Ability to operate independently and manage risk in volatile market environments

What We Offer:

• Highly attractive payout structure commensurate with track record

• Meaningful initial capital with growth potential for strong performers

• World-class derivatives infrastructure and data

• Collaborative environment with experienced vol and derivatives professionals