Trader

Citi • New York, NY

1d • $200,000 - $250,000 • Hybrid

About The Position

Serve as a member of the Flow Credit Derivatives desk, making markets in a variety of synthetic credit instruments, including single-name credit default swaps, index credit default swaps, and European-style swaptions on index credit default swaps. Negotiate and execute trades in a variety of instruments including single-name credit default swaps, index credit default swaps, and European-style swaptions on index credit default swaps. Perform and advise on risk management activities specifically related to current and potential future exposure from trades in single-name credit default swaps, index credit default swaps, and European-style swaptions on index credit default swaps, and potentially other assets. Analyze both macro and micro risk factors, from monetary policy and macroeconomic stimuli to company-specific risks and credit-market-specific technical and flows. Generate trade ideas, perform research and analysis using backtesting, single variable and multi-variable regression and studentized residual screening to find outliers and potential dislocations, both in single-name credit default swaps, index credit default swaps, and European-style credit default swaps, and also in pairs between those, and with respect to other asset classes on occasion. Design and build tools to assist in managing the desk’s credit derivative and cross-asset risk and for clients to find either positively convex positional trades or to efficiently accomplish their objectives. Monitor trends to produce research on macroeconomic events with potential impact to an individual company that would affect the credit derivatives market and the desk’s positions, as well as any credit-specific flows that can be seized on by the broader market or that have any bearing on broader global capital market flows and risk pricing. A telecommuting/hybrid work schedule may be permitted within a commutable distance from the worksite, in accordance with Citi policies and protocols.

Requirements

• Requires a Bachelor’s degree, or foreign equivalent, in Economics, Econometrics, Business, Finance, or related field and 2 years of experience as an Analyst, Credit Derivatives Strategist, Credit Derivatives Trader, Credit Trader, or related position involving market-making for credit derivatives index in a global financial services institution.
• Market-making for credit derivative index and credit derivative index option including CDX
• Credit derivative index trade negotiation and execution
• Risk assessment using options greeks and scenario analysis, and pricing based on anticipated risk
• Managing a book of risk, including optimizing its positioning and current and future exposures
• Performing scenario and historical price analysis
• Regression and statistical techniques and charting
• Macroeconomic changes research and analysis including interest rate, foreign exchange, and federal monetary, fiscal and economic policies
• Microeconomic research and analysis into company-level stimuli and trends
• Using statistics to design and build analytical tools to be used for large data screening, dislocations monitoring, and causal inference drawing
• Direct interaction with corporate clients of a wide variety of sectors.

Responsibilities

• Serve as a member of the Flow Credit Derivatives desk, making markets in a variety of synthetic credit instruments, including single-name credit default swaps, index credit default swaps, and European-style swaptions on index credit default swaps.
• Negotiate and execute trades in a variety of instruments including single-name credit default swaps, index credit default swaps, and European-style swaptions on index credit default swaps.
• Perform and advise on risk management activities specifically related to current and potential future exposure from trades in single-name credit default swaps, index credit default swaps, and European-style swaptions on index credit default swaps, and potentially other assets.
• Analyze both macro and micro risk factors, from monetary policy and macroeconomic stimuli to company-specific risks and credit-market-specific technical and flows.
• Generate trade ideas, perform research and analysis using backtesting, single variable and multi-variable regression and studentized residual screening to find outliers and potential dislocations, both in single-name credit default swaps, index credit default swaps, and European-style credit default swaps, and also in pairs between those, and with respect to other asset classes on occasion.
• Design and build tools to assist in managing the desk’s credit derivative and cross-asset risk and for clients to find either positively convex positional trades or to efficiently accomplish their objectives.
• Monitor trends to produce research on macroeconomic events with potential impact to an individual company that would affect the credit derivatives market and the desk’s positions, as well as any credit-specific flows that can be seized on by the broader market or that have any bearing on broader global capital market flows and risk pricing.

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: Mid Level