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Citi

Location:
United Kingdom, London

Category:
Finance

Contract Type:
Employment contract

Salary:

Not provided

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Job Description:

The Rates & Currencies XVA desk are looking for a Junior Trader to work alongside an established XVA trading desk, managing all aspects of deal pricing, book management and projects. The trader will be mainly supporting colVA appearing in derivatives transactions closed under a non-standard agreement, as well as collateral driven transactions. The CVA/XVA desk is responsible for the pricing and subsequent risk management of the XVA of trades in the rates and currencies business.

Job Responsibility:

Provide XVA, funding and capital pricing to sales desks
Optimize costs of the CVA/XVA trading and funding books
Analyze and dynamically hedge risks
Risk/CSA data reconciliation and management
Work with quant and IT groups on modelling improvements
Work closely with relevant control functions, IT, quants and other internal groups
Create, optimize and manage desk risk and p&l reports
Regular dialogue with internal trading desks and external sales coverage
Analyse and implement market strategies to handle the complex cross-asset position arising from the Global Markets ColVA portfolio
Collaboration with Global Sales and Structuring in the design and negotiation of new/amended CSAs, including direct client engagement
Participate in the development and improvement of tools and models needed to manage ColVA risk
Work in close partnership with control functions such as Legal, Compliance, Market and Credit Risk, Audit, Finance to ensure appropriate governance and control infrastructure
Appropriately assess risk when decisions are made, demonstrating consideration for the firm's reputation and safeguarding Citigroup

Requirements:

Experience working preferably in an XVA trading business, including capital and notional management
Experience pricing CVA/Funding/Capital for Rates and Currencies products (candidates with experience in non-linear trading might also be considered)
Very strong analytical and mathematical skillset
Comfortable with derivatives modelling concepts
Strong Excel + Python/other programming skills & experience
Demonstrated ability to conduct own research, evaluate proof of concepts/prototypes, articulate ideas and deliver presentations
Ability to read CSAs and decipher important information from it
Familiarity with capital rules (Basel RWA, CCAR and/or GSIB)
Ability to pick up new concepts and think outside the box quickly
Undergraduate numerate degree or higher, degree in Physics, Mathematics, Engineering or Economics with background in Financial Mathematics preferred
Must be assessed as fit and proper under FCA and PRA Certification Regime

Nice to have:

Knowledge of the latest XVA trends
Knowledge of DP analytics
Knowledge of compression and IM optimization

What we offer:

Competitive base salary (annually reviewed)
Discretional annual performance related bonus
Generous holiday allowance starting at 27 days plus bank holidays (increasing with tenure)
Private medical insurance packages
Employee Assistance Program
Pension Plan
Paid Parental Leave
Special discounts for employees, family, and friends
Access to an array of learning and development resources
Hybrid working model (up to 2 days working at home per week)
Business casual workplace

Additional Information:

Job Posted:
October 21, 2025

Employment Type:

Fulltime

Work Type:

Hybrid work

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