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The Equity ETF Market Making Trader is responsible for overseeing the Equity ETF Market Making book within the Central Risk Book, generating revenues, and managing book risk. This role involves developing and implementing market making strategies, improving risk management, and coordinating with stakeholders to enhance trading performance.
Responsibilities
- Manage the Equity ETF Market Making book, providing liquidity across domestic and international ETF products while optimizing revenue generation
- Develop and implement market making strategies that balance revenue optimization with disciplined risk management across varying market conditions
- Respond to RFQs using quantitative models and real-time analytics, dynamically tuning parameters based on market conditions, inventory positions, and risk appetite
- Hedge risk using equities, futures, and FX instruments to neutralize directional, sector, and currency exposures
- Utilize quantitative techniques and intraday risk analytics for ETF trading and risk management
- Apply market risk models (including Barra models) to manage trading book risk, optimize hedging ratios, and assess factor exposures
- Monitor P&L attribution and conduct backtests to validate model assumptions, stress-test performance, and refine trading strategies
- Program research in Python and KDB/Q to optimize alpha capture, reduce market impact, and enhance hedging effectiveness
- Partner with quantitative researchers to optimize execution strategies through data-driven approaches
- Collaborate with sales teams to understand client needs, provide market insights, and develop customized solutions
- Work with technology teams to enhance trading infrastructure and system performance
- Liaise with control functions (Legal, Compliance, Market and Credit Risk, Audit, Finance) by providing data and analysis to support governance infrastructure
- Support regulatory reporting, control testing, and audit reviews
- Build a culture of responsible finance, good governance, expense discipline, and ethics
- Oversee and manage risk of trading books across stocks, ETFs, and delta-one products, ensuring compliance with firm-level capital allocation guidelines and regulatory risk frameworks
- Implement and monitor trading limits including position limits, concentration limits, and Greek limits
- Synthesize periodic strategic performance reviews for senior management
- Appropriately assess risk when business decisions are made, demonstrating consideration for the firm's reputation and safeguarding Citigroup, its clients, and assets
Qualifications
- 6-10 years of experience in quantitative trading or risk management, preferably within a Broker/Dealer, Hedge Fund, or Asset Manager
- Direct ETF Market Making experience managing stocks, ETFs, and delta-one products with both domestic and international underlying
- Advanced coding competency in Python (NumPy, Pandas, SciPy, scikit-learn) and KDB/Q
- Strong understanding and practical experience with quantitative risk modeling, including Barra market risk models and Barra GEM models
- Demonstrated ability in alpha research, quantitative analysis, P&L attribution, and back-testing
- Proficient knowledge of Bloomberg, equity trading systems, trading protocols, and closing technicalities
- Knowledge of equity trading products, clients, ETF structure, and derivatives
- Clear and concise written and verbal communication
- Effective interpersonal skills to develop and maintain relationships with internal and external stakeholders
- Required licensing and registrations as applicable
- Bachelor's degree in a quantitative discipline or equivalent experience.
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Institutional Trading
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Trading
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Full time
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New York New York United States
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$175,000.00 - $250,000.00
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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Please see the requirements listed above.
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For complementary skills, please see above and/or contact the recruiter.
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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.
