In-Business Risk Director for Equity Derivatives and Clearing Businesses

Citi•New York, NY

About The Position

Citi is looking for a senior in-business risk professional who will report into the Global Head of In-Business Risk (IBR) and have responsibility for counterparty and platform risk management. In-Business Risk (IBR) is a global team with product and risk expertise across the Equities franchise, and partners closely with many areas within the firm. This role will have oversight over several business lines, with responsibility for Equity Derivatives, Futures & Derivatives Clearing (FDC), Cash Equities, and FIPB. The candidate should have a deep working knowledge of tradable products, institutional risk management techniques, and broad expertise across products and asset classes, including volatility. The candidate should have experience in non-linear and exotic products, including variance swaps, hybrid options, and complex options structures. Key Responsibilities: Oversee client trading activity and monitor active portfolios to ensure that risks are controlled and optimally sized. Communicate risk view to senior management and represent IBR in senior forums with key stakeholders across the firm. Be able to articulate and defend a divergent view. Perform trade and portfolio risk analysis incorporating scenario stress testing, sensitivity analysis, and assess margin adequacy. Interface with clients to help Citi grow the platform and find win-win outcomes. Formulate views around product risk appetite and be able to review and challenge business stakeholders “asks” Drive solutions that require creative thinking and collaborating with key partners in Structuring, Trading, Sales, and Risk. Establish limit structures/controls and processes to ensure that clients operate within limits. Modernize intraday risk and margin controls and processes. Work closely with Sales/Client Onboarding teams at inception to facilitate new client relationships. Work with partners in Market Risk, Quant (MQA), and others and stress test developers to create and utilize models for accurate measurement of clients’ overnight or intraday exposure. This may encompass VaR, scenario stress testing, sensitivities, and liquidation costs. Prioritize risk management product development projects with partners in product development and IT This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

Requirements

Extensive experience actively managing risk (1LoD) in an institutional setting
Expertise in Equity Derivatives products (vanilla and exotic OTC derivatives, QIS and hybrids) and Clearing markets across Exchange Traded Derivatives (ETDs) and OTC cleared derivatives.
Exceptional analytical skills with strong attention to detail and a demonstrated aptitude for tackling analytical issues through quantitative modelling.
Ability to work collaboratively with cross-functional teams from Structuring, Sales, Trading, Credit Risk, Operations and Compliance.
Excellent written and verbal communication skills.
Keen ability to balance risk and reward to facilitate business growth while effectively managing risk.
Ability to challenge the status quo and re-engineer processes, looking for ways to do things more efficiently and effectively
Bachelor’s degree or equivalent
FINRA Series 7 & 63

Nice To Haves

Scenario stress testing acumen and modelling skills are desirable.
Programming skills desirable in any of the following: Python, C++, Excel (VBA), SQL.
Master’s degree or CFA/FRM desirable

Responsibilities

Oversee client trading activity and monitor active portfolios to ensure that risks are controlled and optimally sized.
Communicate risk view to senior management and represent IBR in senior forums with key stakeholders across the firm.
Be able to articulate and defend a divergent view.
Perform trade and portfolio risk analysis incorporating scenario stress testing, sensitivity analysis, and assess margin adequacy.
Interface with clients to help Citi grow the platform and find win-win outcomes.
Formulate views around product risk appetite and be able to review and challenge business stakeholders “asks”
Drive solutions that require creative thinking and collaborating with key partners in Structuring, Trading, Sales, and Risk.
Establish limit structures/controls and processes to ensure that clients operate within limits.
Modernize intraday risk and margin controls and processes.
Work closely with Sales/Client Onboarding teams at inception to facilitate new client relationships.
Work with partners in Market Risk, Quant (MQA), and others and stress test developers to create and utilize models for accurate measurement of clients’ overnight or intraday exposure.
Prioritize risk management product development projects with partners in product development and IT

Benefits

In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards.
Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs.
Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays.
For additional information regarding Citi employee benefits, please visit citibenefits.com.
Available offerings may vary by jurisdiction, job level, and date of hire.

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