European Collateralized Loan Obligation (CLO) Trader, AVP/VP
Citi · London, United Kingdom · 3d ago
About Citi Markets
Citi's Markets business is one of the world's leading providers of financial products and services across fixed income, currencies, commodities, equities, and structured credit. Within Markets, the Securitized Products Trading team operates at the forefront of structured credit, providing clients with access to a broad range of asset-backed and structured finance instruments. The European CLO desk sits within this franchise and plays a central role in Citi's ability to deliver liquidity, risk management solutions, and market-making capabilities to a sophisticated institutional client base across Europe.
The Opportunity
This is a AVP/ Vice President-level trading role within Citi's European Securitized Products Trading team in London, with a specific focus on Collateralized Loan Obligation (CLO) mezzanine and equity tranches. The individual will be responsible for managing a trading book, generating revenues, and contributing to the development of Citi's CLO franchise across Europe. This is a role for an experienced structured credit professional who can operate with a degree of autonomy, engage directly with clients and counterparties, and work collaboratively across Sales, Research, and Risk to build a sustainable and growing business. The European CLO market has seen record issuance volumes in recent years, and this role sits at the centre of that activity.
Primary Responsibilities
- Manage and develop a CLO trading book, with a primary focus on European CLO mezzanine and equity tranches; execute trades, manage risk positions, and deliver on budgeted revenue targets with disciplined risk management and sound commercial judgment.
- Build and maintain client and counterparty relationships, anticipating demand across the CLO capital structure, facilitating large institutional trades, and acting as a credible and trusted market presence for investors, CLO managers, and other key participants.
- Coordinate closely with Sales, Research, Structuring, and other internal stakeholders across Markets and Securities Services to develop the franchise, support primary CLO transactions, and identify secondary market opportunities.
- Lead governance and controls responsibilities in partnership with Legal, Compliance, Market and Credit Risk, Audit, and Finance; uphold Citi's Code of Conduct and the Plan of Supervision for Global Markets and Securities Services, and ensure all risk/reward assessments reflect appropriate consideration for the firm's reputation.
- Mentor and support junior members of the trading desk, providing guidance on trade execution, market analysis, and professional development, while contributing to a culture of accountability, transparency, and responsible finance.
- Monitor and analyse CLO market dynamics, including collateral quality, tranche valuations, coverage tests, waterfall structures, and macro credit trends, translating insights into actionable trading decisions and strategic recommendations for the desk.
What We Need From You
- Proven experience in a structured credit or CLO-related trading, portfolio management, or syndication role at a financial institution, with demonstrable experience managing or contributing to a trading book.
- In-depth knowledge of CLO structures, including mezzanine and equity tranche dynamics, waterfall mechanics, overcollateralisation and interest coverage tests, and the broader European leveraged loan market that underpins CLO collateral pools.
- Proven track record of client engagement and franchise development, with the ability to identify counterparties, pitch trade ideas, and build lasting relationships with CLO managers, institutional investors, and other market participants.
- Strong analytical and quantitative capability, including proficiency with CLO-specific tools and platforms such as Intex, CDOEdge, or equivalent, alongside Bloomberg and relevant booking and risk systems.
- Familiarity with the regulatory environment applicable to front office trading roles in the UK, including FCA requirements, and the ability to obtain and maintain all required registrations and licences within the appropriate timeframe.
- Excellent written and verbal communication skills, with the ability to articulate complex structured credit concepts clearly to internal and external stakeholders, and to operate effectively in a fast-paced, cross-functional environment.
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.
Regulatory Information
Candidates applying for this role must be aware that it is a Certified Role, subject to the FCA and PRA Certification Regime. The Certification Regime is one element of the Individual Accountability Regime which came into effect on 7 March 2016. Under the Certification Regime, Citi UK regulated entities (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, regulated reference checks, credit checks and other background screening checks.
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Job Family Group:
Institutional Trading------------------------------------------------------
Job Family:
Trading------------------------------------------------------
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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