Systematic Credit Trader

Citigroup Inc.; Greater London; Hybrid; GBP 140,000 - 210,000; Full time

Benefits offered by this job

27 days annual leave

Discretional annual bonus

Private Medical Care

Life Insurance

Employee Assistance Program

Pension Plan

Paid Parental Leave

Job summary

Citi London seeks a Systematic Credit Trader to join the European Systematic Spread Trading Desk. You will own a franchise book, work with traders and quants, and push revenue growth with risk-aware trading across bonds, ETFs, and baskets.

You will collaborate across Legal, Compliance, Finance and Risk, and contribute to governance and controls while delivering client-focused trades in a hybrid work environment.

Qualifications

• This is not an entry level role; candidate must already manage risk and have in-depth product knowledge.
• Experience in EUR/USD, Corporate/Government Bonds automated market making or ETFs is required.
• Advanced coding, mathematical and data analytical skills are essential.
• Good communication and stakeholder management abilities are needed.

Responsibilities

• Build understanding of the Algo framework and adjust trading parameters by market conditions.
• Monitor Algo activity and engage with clients, sales, and traders to facilitate single bond trades.
• Facilitate portfolio trades and communicate portfolio axes to clients; support ETF creation/redemptions.
• Develop and promote the Custom Baskets business.
• Collaborate with control functions (Legal, Compliance, Risk, Audit, Finance).
• Improve operational efficiency and build market-leading systems.
• Work with Legal, Compliance, Market and Credit Risk, Audit, Finance.
• Maintain a culture of responsible finance, governance and ethics.
• Obtain and maintain registrations/licenses required for the role.

Skills

Trading

Risk management

Coding

Data analysis

Communication skills

Education

Bachelor’s degree

Master’s degree

Tools

Bloomberg Terminal

Booking systems

Job description

Citi is looking to hire a Systematic Credit Trader to sit within Citi’s European Systematic Spread Trading Business.

The Systematic Spread Trading Business spans across Single Line Bond Request for Quotes (RFQs), Automated Market Making, Portfolio and Liquid Baskets Trading, Credit Index Futures Trading, Fixed Income ETF Market Making Credit and Rates, as well as Fixed Income ETF Creation Redemption Credit and Rates.

The successful candidate will join a team of 3 traders and 8 quantitative analysts. You will work in conjunction with the trading team to deliver on revenue and franchise goals, and with key stakeholders to continue the growth of the business. You will deploy best practice on pricing and risk management in a fashion that positively influences other traders on the desk and to contribute to a positive culture on the desk and with the sales partners. This is a fantastic opportunity for an experienced trader who is looking to take ownership of a franchise book and drive the business forward with the support of their peers across the markets business.

What you will do will be varied day to day, but the key drivers for the role are

• Build a deep enough understanding of the Algo framework to understand its decision making process, adjust trading parameters based on market conditions, and give valuable feedback to the Quant team highlighting potential issues or simply contribute ideas on how to improve the framework.
• Responsibly monitor the Algo activity and manually engage with clients, sales team and traders on the desk to facilitate single bond trades.
• Facilitating portfolio trades, and communicating portfolio axes to clients, as well as facilitating ETF creation and redemptions.
• Develop and promote the Custom Baskets business.
• Build and maintain a franchise and connect with key clients in a fashion that fits with desk’s strategy and target clients.
• Work with key stakeholders to improve the operational efficiency of the business, developing robust and market leading systems
• Work in close partnership with control functions such as Legal, Compliance, Market and Credit Risk, Audit, Finance
• Build a culture of responsible finance, good governance and supervision, expense discipline and ethics
• Obtain and maintain all registrations/licenses which are required for your role, within the appropriate timeframe

What we will need from you:

• This is not an entry level role, so the successful candidate will need to be already managing risk and have in depth knowledge of respective products and clients.
• Prior Experience in EUR/USD, Corporate/Government Bonds automated market making or their corresponding ETFs is also required.
• This role requires advanced coding, mathematical and data analytical skills.
• Good communication skills and effective interpersonal skills to develop and maintain relationships with internal and external stakeholders.
• A strong understanding of Bloomberg, booking systems, trading protocol, closing technicalities.

Education:

• Bachelor’s degree/University degree or equivalent experience
• Master’s degree preferred

What Citi can offer you

By joining Citi London, you will not only be part of a business casual workplace with a hybrid working model (up to 2 days working at home per week), but also receive a competitive base salary (which is annually reviewed), and enjoy a whole host of additional benefits such as:

• 27 days annual leave (plus bank holidays)
• A discretional annual performance related bonus
• Private Medical Care & Life Insurance
• Employee Assistance Program
• Pension Plan
• Paid Parental Leave
• Special discounts for employees, family, and friends
• Access to an array of learning and development resources

Alongside these benefits Citi is committed to ensuring our workplace is where everyone feels comfortable coming to work as their whole self, every day. We want the best talent around the world to be energized to join us, motivated to stay, and empowered to thrive. This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.

If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi. View Citi’s EEO Policy Statement and the Know Your Rights poster.