Equity Exotics Trader, Vice President

Citi • New York, NY

4d • $175,000 - $250,000

About The Position

The Equity Exotics Trader actively manages and risk-manages a proprietary and client-facilitation trading book of complex equity exotic derivatives and structured products. The role aims to generate sustainable, risk-adjusted trading revenue, maintain rigorous controls over complex non-linear risks, and partner with Structuring, Quantitative Analysis, and Institutional and Wealth Sales to expand Citi’s global equity exotics franchise.

The trader manages and dynamically hedges higher-order and non-linear exposures, monitors Greeks and market parameters, and provides competitive pricing for bespoke structured payoffs and flow exotics. The role also works with Quantitative Research and Technology to improve pricing models, desk analytics, automation, booking workflows, and risk systems. It requires adherence to internal policies and regulatory requirements, coordination with risk and control functions, and collaboration with Sales and Structuring to develop client solutions and provide market insights.

Requirements

• Professional trading experience in Equity Derivatives: 4–7 years for VP-level consideration, or 3–4 years for AVP-level consideration; alternatively, 8–10 years of experience in another applicable field for VP or AVP consideration.
• Experience running an Equity Exotics or Structured Products trading book with strong risk management.
• Deep technical mastery of non-linear payoff structures, including Autocallables, Cliquets, Barriers, Dispersion, Quartiles, Range Accruals, Volatility/Variance derivatives, and Quanto payoffs across single-stock, basket, and index underlyings.
• In-depth knowledge of exotic risk management techniques, pinning risks, jump/gap risk dynamics, and multi-asset hybrid correlation behavior.
• Exceptional mathematical, probabilistic, and quantitative aptitude, including stochastic calculus, numerical methods, Monte Carlo simulations, and PDE solvers.
• Advanced programming and data analysis proficiency in Python and/or C++, R, SQL, or VBA.
• Proficiency with market data systems and analytics platforms such as Bloomberg OVME/DLIB/VOLS, Reuters, and proprietary equity risk engines.
• Strong communication and interpersonal skills, including the ability to explain complex quantitative risk profiles to internal control partners and client-facing teams.
• Composure, commercial acumen, and agile decision-making through a risk-management lens in high-volatility, fast-paced trading environments.
• Relevant regulatory registrations and trading licenses as required by jurisdiction, such as Series 7, 63, or 57 in the US.
• Bachelor’s degree in a quantitative discipline such as Financial Engineering, Mathematics, Physics, Computer Science, Econometrics, Quantitative Finance, or Engineering.

Nice To Haves

• Master’s or Ph.D. in Quantitative Finance, Financial Mathematics, or Computational Engineering.
• MBA.

Responsibilities

• Manage and dynamically hedge higher-order and non-linear risk exposures across structured and exotic equity derivatives books, including Autocallables, Reverse Convertibles, Clicquets, Accumulators/Decumulators, Barrier Options, Volatility/Variance Swaps, Quanto structures, and other Light Exotics.
• Monitor and manage first- and second-order Greeks, volatility surfaces and dynamics, forward volatility and term structure, correlation and cross-gamma risk, dividend risk, repo/borrow curves, and interest-rate sensitivities.
• Provide competitive, rapid, and accurate pricing for bespoke structured payoffs and flow exotics to Sales, Structuring, Private Banking, and Institutional clients.
• Deliver budgeted net trading revenue targets within established VaR, Stress VaR, CCAR, and desk-level sensitivity limits.
• Partner with Quantitative Research and Financial Engineering to refine, backtest, and calibrate pricing engines and Local Volatility and Stochastic Local Volatility models.
• Develop tactical algorithmic/Python pricing scripts, automated hedging tools, and scenario stress-testing suites to improve desk efficiency and real-time P&L attribution.
• Collaborate with Technology to improve trade booking workflows, risk aggregation systems, and straight-through processing.
• Comply with internal policies, Volcker Rule requirements, Market Abuse Regulations, FRTB guidelines, Booking Policy, and mandatory trading protocols.
• Engage with Market Risk Management, Model Risk Management, Credit Risk, Product Control, Legal, and Compliance to support validation, booking, and governance of exotic payoffs.
• Promote responsible finance, supervisory controls, operational discipline, and transparency; escalate potential control deficiencies, model breaks, or reputational risks, and take accountability for trade outcomes.
• Work with Equity Structuring and Institutional/Private Wealth Sales to identify market trends, anticipate client payoff preferences, and deliver structured investment and hedging solutions.
• Maintain inter-dealer broker and exchange relationships to source correlation, dividend, and bespoke option liquidity.
• Provide actionable market intelligence, skew and volatility insights, and trade ideas to internal stakeholders and key client accounts.

Benefits

• Medical, dental, and vision coverage
• 401(k)
• Life, accident, and disability insurance
• Wellness programs
• Paid time off, including vacation and sick leave
• Paid holidays
• Discretionary and formulaic incentive and retention awards may be available to eligible employees

What This Job Offers

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