Single Stock Exotics Trader, Equity Derivatives, Assistant Vice President
Citi · New York, United States · 11d ago
JOB DESCRIPTION:
The AVP level Single Stock Exotic Trader is responsible for overseeing and supporting a specialized exotic derivatives trading book and proactively managing complex, non-linear book risk, in coordination with the Trading, Structuring, and Quantitative Research teams. The overall objective of this role is to ensure book trades deliver on budgeted revenues, maintain rigorous quantitative risk control across volatility surfaces and correlation dynamics, and coordinate with key internal and external stakeholders to develop and scale Citi’s equity exotic derivatives and structured solutions franchise.
Responsibilities
Equity Exotic Book Trading, Structuring & Revenue Generation
Oversee and support a specialized Exotic Trading book, driving revenue generation, competitive market-making, and disciplined capital allocation within established risk limits.
Trade and structure non-linear and path-dependent products, including: Autocallables, Accumulators, Volatility Swaps, Correlation & Dispersion structures, Worst-Of/Best-Of baskets.
Coordinate across Markets and Securities Services: Partner seamlessly with Structuring, Institutional Sales, Retail Sales, and Platform team to originate marquee client transactions and expand client wallet share.
Anticipate client demand in the exotic market: Identify macro structural trends, shifts in volatility regimes, and client appetite across Institutional, Corporate, and Global Wealth Management segments for yield enhancement, downside protection, and tail-risk hedging.
Deliver secondary market liquidity: Provide active pricing, unwinds, roll-overs, and restructuring for existing exotic derivatives and structured note portfolios.
Establish and maintain key institutional relationships: Foster top-tier liquidity and trading relationships with interdealer brokers, institutional counterparties, and liquidity providers to optimize execution flow and funding.
Quantitative Risk & Dynamic Higher-Order Greeks Management
Manage multi-dimensional book risk: Actively hedge and dynamically balance complex Greek exposures across spot, volatility, and correlation dimensions:
First- & Second-Order Greeks: Delta, Gamma, Cross-Gamma, Vega, and Theta across multi-tenor implied volatility surfaces.
Higher-Order Greeks: Vanna, Volga, Charm, Color, Speed, and Volatility Skew/Smile dynamics.
Cross-Asset & Correlation Risks: Multi-asset correlation smiles, dispersion dynamics, dividend projections, repo curves, and borrow costs.
Discontinuous & Barrier Risks: Jump-to-default, gap risk, pin risk around knock-in/knock-out barriers, and autocall observation dates.
Quantitative Scenario Analysis & Stress Testing: Run extensive intraday scenario analyses, jump-to-default simulations, tail-risk stress tests, and extreme liquidity shock assessments.
Quantitative Analytics & Front-Office Infrastructure Development
Quantitative Model Calibration: Partner with Core Quantitative Research and Quant Developing teams to implement, test, and calibrate advanced exotic pricing models
Front-Office Tooling & Analytics: Build and maintain real-time risk dashboards, and automated quoting tools using Python, and VBA.
Coordinate with Desk Analysts & Quants: Mentor and guide desk analysts on daily runbooks, P&L attribution, and pricing parameter calibration.
Governance, Controls & Supervision
Lead strong governance and controls: Champion an uncompromising risk and control environment across all trading, structuring, and booking activities.
Control Function Partnership: Work in close partnership with control functions such as Legal, Compliance, Market Risk Management, Model Risk Governance (MRG), Credit Risk, Internal Audit, and Product Control / Finance to ensure appropriate governance and control infrastructure.
Build a culture of responsible finance: Promote good governance, diligent supervision, expense discipline, and high ethical standards across the desk.
Risk/Reward Assessment: Appropriately assess the risk/reward of transactions when making business decisions; demonstrate proper consideration for the firm’s reputation and balance commercial drive with risk prudence.
Supervision & Policy Adherence: Be familiar with and adhere to Citi’s Code of Conduct, the Plan of Supervision for Global Markets and Securities Services, and all relevant trading mandates, limit frameworks, and operational policies.
Regulatory Compliance: Drive compliance with global regulatory requirements (e.g., Dodd-Frank, EMIR, MiFID II / PRIIPs, FRTB, SIMM, initial margin rules) and model governance standards.
Registrations & Licensing: Obtain and maintain all required registrations and licenses applicable to the role and jurisdiction within the appropriate timeframe.
Control Issue Escalation: Safeguard Citigroup, its clients, and assets by adhering to Policy, applying sound ethical judgment regarding personal behavior and business practices, and escalating, managing, and reporting control issues with transparency.
Qualifications
Experience: 2–4 years of professional experience in Exotic Derivatives Trading or a related area.
Product & Exotic Market Knowledge: Deep domain expertise in path-dependent exotic options, non-linear payoffs, volatility surfaces, correlation products, and structured notes.
Quantitative & Numerical Competency:
Advanced analytical, mathematical, and numerical competency with a strong understanding of stochastic calculus, and numerical methods (Monte Carlo, PDEs).
Technical & Programming Proficiency:
Strong coding skills in Python (NumPy, SciPy, Pandas) and/or C++ for financial modeling, analytics, and rapid risk tool development.
Licensing & Registrations: Required licensing and registrations as applicable by jurisdiction (FINRA Series 7, 63, 57, 3 in the US).
Communication & Stakeholder Management: Consistently demonstrates clear and concise written and verbal communication skills; ability to articulate complex quantitative ideas, payoff structures, and risk metrics to sales teams, clients, control functions, and senior management.
Commercial & Interpersonal Acumen: Effective interpersonal skills to develop and maintain strong collaborative relationships with internal and external stakeholders; ability to analyze and pitch situations and determine suitable counterparties.
Education
Bachelor’s degree / master’s degree in a quantitative discipline (Quantitative Finance, Financial Engineering, Mathematics, Physics, Computer Science, Engineering, Econometrics) or equivalent experience.
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Job Family Group:
Institutional Trading------------------------------------------------------
Job Family:
Trading------------------------------------------------------
Time Type:
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Primary Location:
New York New York United States------------------------------------------------------
Primary Location Full Time Salary Range:
$150,000.00 - $175,000.00
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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Most Relevant Skills
Please see the requirements listed above.------------------------------------------------------
Other Relevant Skills
For complementary skills, please see above and/or contact the recruiter.------------------------------------------------------
Anticipated Posting Close Date:
Sep 25, 2026------------------------------------------------------
Automated Processing and AI
We use automated processing, including artificial intelligence, for our legitimate business interests (or our reasonable and appropriate business purposes) to identify and align the candidate's skills and abilities with a specific job opening. Additionally, if you so choose, or consent, we can match your skills and abilities to other suitable roles at Citi.
Importantly, all our hiring processes and decisions, including determining your suitability for a role, are conducted, checked, and decided by individuals. Our automated processing and AI do not involve relying on automatic or autonomous decision-making. Please refer to any Jurisdictional Considerations, with specific provisions for your country (where relevant) for further details.
Illinois residents – AI Notice and Right
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