Synthetic Prime Brokerage Trader, Director

About the role

The Citi Client Financing Synthetic Prime Brokerage (SPB) business is looking to hire a new member of its Trading team. This role focuses on providing equity exposure and portfolio financing solutions to a diverse array of institutional clients. The candidate will work closely with members of the SPB desk, as well as colleagues across the broader Delta One, Equity Funding, Prime Brokerage, and Equity Derivative franchises at Citi. As a member of Citi's Client Financing business, the new joiner will gain exposure to a wide array of equity-based products and to many collaborative partners operating in functions across Citi's Equity Trading and Prime Brokerage platforms.

Responsibilities

• Facilitate client needs in synthetic equity products across high-touch, program trading, and electronic platforms.
• Execute transactions in US equity markets and ensure best execution in a fast-paced environment to meet unique hedging needs for clients.
• Monitor and communicate life-cycle events with sales and clients to ensure sound risk management.
• Monitor and manage risk of corporate action events (mandatory and voluntary mergers, dividends, splits/spinoff, call spreads).
• Monitor and manage risk of hard-to-borrow Single Stock and ETF swap positions.
• Manage and hedge FX exposure from out-of-currency derivatives.
• Reconcile P&L and assess factors that drive trading desk performance to inform decision-making and improve operational processes.
• Develop and improve analytics and quantitative approaches to book management.
• Work with partners in technology, support, and development teams at Citi to enhance the SPB trading platforms and analytics.
• Collaborate with Equity Funding and Cash Prime Brokerage teams to optimize trading book structure and maximize cost efficiency.
• Work with Legal, Compliance, Market and Credit Risk, Audit, and Finance to ensure appropriate governance and control infrastructure.
• Practice a culture of responsible finance, governance, supervision, expense discipline, and ethics.
• Oversee a trading book as a Senior Trader, generating revenues and managing risk for the respective business.
• Build and maintain a franchise, connecting with key clients.
• Coordinate with Sales, Research, Capital Markets, and other organizations across Markets and Securities Services and the broader business.
• Establish and maintain key relationships to deliver trades to the desk.
• Anticipate client demand in each respective product/market and facilitate large client trades.
• Coordinate with desk analysts and sales to develop the franchise, and manage and mentor junior traders as needed.
• Lead strong governance and controls in partnership with control functions such as Legal, Compliance, Market and Credit Risk, Audit, and Finance.
• Appropriately assess risk/reward of transactions when making business decisions, demonstrating proper consideration for the firm’s reputation.
• Be familiar with and adhere to Citi’s Code of Conduct and the Plan of Supervision for Global Markets and Securities Services.
• Obtain and maintain all required registrations/licenses for the role within the appropriate timeframe.

Requirements

• 12+ years of experience working in an Equity Trading, Prime Brokerage, Equity Funding, or similar role at a large investment bank.
• Securities licensing and registration preferred (SIE, Series 7, Series 63, Series 57, Series 3).
• Strong analytical skills (working knowledge of Python preferred) and attention to detail.
• Effective interpersonal skills to develop and maintain relationships with internal and external stakeholders.
• Knowledge of Bloomberg, booking systems, trading protocol, and closing technicalities.
• In-depth knowledge of respective products and clients.
• Proven history of successful trading book management.
• Advanced analytical and numerical competency.
• Consistently demonstrates clear and concise written and verbal communication.
• Ability to analyze and pitch situations to determine suitable counterparties.

Qualifications

• Bachelor’s degree/University degree or equivalent experience.
• Master’s degree preferred.

Primary location: New York, New York, United States. Full time role.

Pay

Salary range: $200,000.00 - $300,000.00. In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards.

Benefits

• Medical, dental, and vision coverage.
• 401(k) plan.
• Life, accident, and disability insurance.
• Wellness programs.
• Paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays.