Equity ETF Market Making Trader, Vice President

Citi • New York, NY

6d • Onsite

About The Position

The Equity ETF Market Making Trader is responsible for overseeing the Equity ETF Market Making book within the Central Risk Book, generating revenues, and managing book risk. This role involves developing and implementing market making strategies, improving risk management, and coordinating with stakeholders to enhance trading performance.

Requirements

• 6-10 years of experience in quantitative trading or risk management, preferably within a Broker/Dealer, Hedge Fund, or Asset Manager
• Direct ETF Market Making experience managing stocks, ETFs, and delta-one products with both domestic and international underlying
• Advanced coding competency in Python (NumPy, Pandas, SciPy, scikit-learn) and KDB/Q
• Strong understanding and practical experience with quantitative risk modeling, including Barra market risk models and Barra GEM models
• Demonstrated ability in alpha research, quantitative analysis, P&L attribution, and back-testing
• Proficient knowledge of Bloomberg, equity trading systems, trading protocols, and closing technicalities
• Knowledge of equity trading products, clients, ETF structure, and derivatives
• Clear and concise written and verbal communication
• Effective interpersonal skills to develop and maintain relationships with internal and external stakeholders
• Required licensing and registrations as applicable
• Bachelor's degree in a quantitative discipline or equivalent experience.

Responsibilities

• Manage the Equity ETF Market Making book, providing liquidity across domestic and international ETF products while optimizing revenue generation
• Develop and implement market making strategies that balance revenue optimization with disciplined risk management across varying market conditions
• Respond to RFQs using quantitative models and real-time analytics, dynamically tuning parameters based on market conditions, inventory positions, and risk appetite
• Hedge risk using equities, futures, and FX instruments to neutralize directional, sector, and currency exposures
• Utilize quantitative techniques and intraday risk analytics for ETF trading and risk management
• Apply market risk models (including Barra models) to manage trading book risk, optimize hedging ratios, and assess factor exposures
• Monitor P&L attribution and conduct backtests to validate model assumptions, stress-test performance, and refine trading strategies
• Program research in Python and KDB/Q to optimize alpha capture, reduce market impact, and enhance hedging effectiveness
• Partner with quantitative researchers to optimize execution strategies through data-driven approaches
• Collaborate with sales teams to understand client needs, provide market insights, and develop customized solutions
• Work with technology teams to enhance trading infrastructure and system performance
• Liaise with control functions (Legal, Compliance, Market and Credit Risk, Audit, Finance) by providing data and analysis to support governance infrastructure
• Support regulatory reporting, control testing, and audit reviews
• Build a culture of responsible finance, good governance, expense discipline, and ethics
• Oversee and manage risk of trading books across stocks, ETFs, and delta-one products, ensuring compliance with firm-level capital allocation guidelines and regulatory risk frameworks
• Implement and monitor trading limits including position limits, concentration limits, and Greek limits
• Synthesize periodic strategic performance reviews for senior management
• Appropriately assess risk when business decisions are made, demonstrating consideration for the firm's reputation and safeguarding Citigroup, its clients, and assets

Benefits

• medical, dental & vision coverage
• 401(k)
• life, accident, and disability insurance
• wellness programs
• paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays

What This Job Offers

• Job Type: Full-time
• Career Level: Manager