Citi-posted 6 days ago
Full-time • Mid Level
New York, NY
5,001-10,000 employees

The Counterparty Credit Risk Quant Development Team, a key group within Markets Quantitative Analysis Organization, is responsible for developing cutting-edge analytical models for derivatives risk and exposure calculations Firm-wide. The scope of this demanding role extends from the research into the mathematical derivation of advanced quantitative models, through meticulous coding, rigorous testing, comprehensive documentation for formal validation and approval, and ultimately to delivering these models for seamless incorporation into the Firm's internal and regulatory risk management processes.

  • Leading the development and maintenance of in-house C++ and Python model libraries.
  • Pioneering advancements in the quantitative toolbox through the development of new technologies, algorithms, and numerical techniques.
  • Driving significant efficiency improvements and optimization within the analytical libraries.
  • Collaborating extensively with IT teams to integrate complex analytic libraries into production systems.
  • Overseeing the development and maintenance of critical quant infrastructure, databases, and productivity tools.
  • Providing expert support for the build, rigorous testing, and release management of the model libraries.
  • Engaging actively in Regulatory and Governance-based projects, particularly those related to Counterparty Credit Risk (CCR) such as Basel IMM, PFE, CVA, and RWA calculations, across a range of asset classes.
  • Performing in-depth data analysis and producing comprehensive regular reports.
  • Demonstrable expertise and a proven track record in developing and supporting analytics libraries for the pricing, risk, and exposure calculation of complex financial derivatives.
  • Strong preference for candidates with extensive experience in Equity derivatives pricing, including familiarity with advanced concepts such as stochastic volatility models, variance swaps, correlation products, and exotic structures.
  • Deep familiarity with Counterparty Credit Risk (CCR) calculations, including Basel IMM, Potential Future Exposure (PFE), EPE, EAD, and CVA methodologies.
  • Previous experience working on other Regulatory based projects such as Model Risk, Basel III, Stress Testing, FRTB, and CCAR is highly advantageous.
  • Solid mathematical finance and advanced statistical analysis skills.
  • Profound knowledge of probability theory and stochastic calculus.
  • Extensive familiarity with Numerical Analysis and Monte-Carlo methods.
  • Proven experience developing robust software for Windows and Linux environments.
  • Excellent command of scripting using UNIX Shell (ksh, bash, etc.), Python, and VBA.
  • Exceptional command of programming using modern C++ and Python.
  • Outstanding analytical and complex problem-solving skills.
  • A thorough and detailed approach, with an unwavering commitment to accuracy, is essential.
  • Ability to strictly follow procedures and operate within stringent guidelines.
  • Excellent verbal and written English communication skills.
  • Strong ability to take ownership and proactively follow up on issues through to resolution.
  • Demonstrated ability to work effectively in a team-oriented environment and to perform well under pressure.
  • Knowledge of Relational Databases (e.g., Mongo) is a plus.
  • Knowledge/experience with Machine Learning Tools and Frameworks (e.g., scikit-learn, PyTorch) is a plus.
  • 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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