In Business Risk - Commodities
Citi · London, United Kingdom · 10d ago
At Citi Markets, we win together. In a rapidly changing world, our shared vision gives us the clarity, agility and global perspectives we need to shape the future. That's why collaboration plays a central role in how we deliver for clients, develop our people, and grow our business. Our Commodities franchise is uniquely positioned within our global Markets division, offering clients comprehensive coverage across energy, metals, agriculture, and environmental products. We operate across physical and derivative markets, supporting corporate and institutional clients in managing complex price, basis, and volume risks inherent in their operations and portfolios.
The Opportunity
As an In Business Risk Vice President/ Director for Commodities, you will serve as a critical first line of defense partner embedded directly within our trading and structuring businesses. This is not a traditional independent risk oversight role—you will work shoulder-to-shoulder with our front-office teams to proactively manage capital efficiency, regulatory compliance, and strategic risk optimization. This position offers the rare opportunity to combine deep quantitative risk expertise with commercial acumen, directly influencing trading strategy, capital allocation frameworks, and business performance in one of the most dynamic and complex asset classes in global markets. You will be instrumental in navigating the evolving regulatory landscape, particularly Volcker Rule compliance and FRTB implementation, while driving measurable improvements in risk-adjusted returns.
Primary Responsibilities of the Role
Reconcile and Own Market Risk Capital Metrics:Maintain comprehensive reconciliation and deep understanding of all market risk capital numbers allocated to commodities businesses. Serve as the single source of truth for capital consumption metrics, variance analysis, and attribution across energy, metals, and agricultural trading desks.
Volcker Rule Compliance & Impact Assessment:Assess and quantify the potential impact of Volcker Rule requirements on various commodities trading desks. Partner with Legal and Compliance to ensure proper desk designation (market-making vs. proprietary trading) and develop strategies to optimize business activities within regulatory constraints.
Risk Model Enhancement & Deficiency Resolution:Collaborate intensively with quantitative analysts and Second Line Risk teams to identify, prioritize, and remediate risk model deficiencies. Lead initiatives to improve model accuracy, expand coverage of exotic products, and enhance stress testing frameworks for commodities-specific risks.
Strategic Business Planning Under New Regulatory Regimes:Propose and advocate for business strategy changes in response to evolving capital frameworks (FRTB, Basel IV). Develop data-driven recommendations on product mix, client coverage, and desk structure to maximize risk-adjusted returns under new capital allocation methodologies.
Capital Efficiency Optimization & Performance Analytics:Build and maintain frameworks to assess individual trader performance against allocated capital (RAROC, Sharpe ratio, capital velocity metrics). Design and implement risk-return frameworks that incentivize capital-efficient trading behaviors and inform compensation and limit allocation decisions.
Cross-Business Risk Coordination & Return Enhancement:Serve as the primary liaison between desk-level in-business risk functions and the central commodities capital team. Coordinate efforts across physical and derivative trading businesses to identify portfolio optimization opportunities, cross-desk hedging strategies, and enterprise-wide capital efficiency initiatives.
What We Need from You
Quantitative Education & Risk Experience:Degree in a quantitative or financial discipline (Mathematics, Physics, Financial Engineering, Economics, or equivalent).
Advanced Quantitative & Risk Modeling Skills:Deep expertise in mathematics involved in risk estimation and modeling, including VaR, Expected Shortfall, stress testing, and scenario analysis. Proven ability to critically evaluate and challenge complex quantitative models and their underlying assumptions.
Project Management & Multi-Tasking Excellence:Demonstrated excellence in project management and organizational skills with proven capability to handle multiple high-priority initiatives simultaneously. Experience managing cross-functional workstreams involving Trading, Quant, Finance, and Second Line Risk stakeholders.
Exceptional Communication & Stakeholder Management:Excellent written and verbal communication skills with the ability to translate complex quantitative concepts for diverse audiences (traders, senior management, regulators). Proven ability to work effectively in large groups, navigate competing stakeholder interests, and build consensus across organizational boundaries.
Regulatory & Capital Framework Knowledge:Strong working knowledge of market risk capital frameworks (Basel III, FRTB IMA/SA), Volcker Rule requirements, and commodities-specific regulatory constraints (CFTC, FERC, EMIR). Experience managing regulatory change programs is highly desirable.
Technical & Analytical Proficiency:High proficiency in quantitative tools and programming (Python, SQL, R) for independent risk analysis, data manipulation, and automation. Advanced Excel and data visualization capabilities (Tableau, Power BI). Experience with risk systems (Summit, Calypso, CTRM platforms) is advantageous.
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. If you are actively working with clients, have a passion for relationships and want to be part of a successful global franchise – then apply today.
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
Candidates applying for this role must be aware that it is a Certified Role, subject to theFCA and PRACertification Regime.
The Certification Regime is one element of the Individual Accountability Regime whichcame intoeffect on 7 March 2016.
Under the Certification Regime, CitiUK regulatedentities(Citi entities)must ensure that employees working in certain roles categorised as specified significant harm functions (Certified Roles) are assessed as fit and proper to carry out their role.
Under the guidance provided by the FCA and PRA, firms should have regard to the following when assessing fitness and propriety:
Honesty, integrity and reputation
Financial soundness
Competence and capability
In order to comply with the requirements of the Certification Regime, Citi entities must take reasonable care to ensure that an employee does not perform a Certified Role without first being certified as Fit and Proper. For this reason, you will be assessed for this role against the Fit and Proper requirements, as described above.
This assessment will be carried out through extensive interviews, self-disclosures, permitted criminal record checks,regulatedreference checks, credit checks and other backgroundscreeningchecks.
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Job Family Group:
Institutional Trading------------------------------------------------------
Job Family:
Structuring------------------------------------------------------
Time Type:
Full time------------------------------------------------------
Most Relevant Skills
Please see the requirements listed above.------------------------------------------------------
Other Relevant Skills
For complementary skills, please see above and/or contact the recruiter.------------------------------------------------------
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