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Job Overview

About the Desk

Spread In-Business Risk (IBR) is responsible for overseeing and managing market risks across Spread Products, optimising capital and risk allocation, limit management, hedging strategy, as well as strengthening risk monitoring, control and governance processes.

In Europe, IBR is primarily focused on the core part of the Spread trading franchise — corporate credit trading and secondary market making of cash bonds, loans and CDS — with scope for broader asset class coverage exposure.

IBR is a growing function within the Markets business, becoming a critical part in understanding the complexity of our risks, making intelligent risk-taking decisions, and maximising performance. The role requires a quantitative mindset and is primarily focused on data analysis.

Responsibilities

Quantitative & Analytical Projects

• Work on projects with the IBR team and line traders to analyse market, risk and PnL data, developing quantitative tools to optimise capital allocation

• Explain risk factor sensitivity through Profit Attribution Analysis (PAA)

• Inform hedging strategy via scenario analysis, including stress scenario design

• Identify and track systemic and idiosyncratic risk concentrations

Business Unit Activities

• Learn and understand how trading credit works, the risks taken and how they are managed

• Closely track the performance of various credit and macro markets, reporting impact on risk and PnL performance

• Monitor risk limit utilisations across businesses

• Develop a forward-looking view of material risks

• Provide weekly market commentary to senior management

• Strengthen the risk monitoring framework that allows the business to manage overall risk positions in real time

Trading Book & Revenue

• Assist with a trading book and generate revenues while managing risk for the respective business

• Coordinate with Sales, Research, Capital Markets and other organisations across Markets and Securities Services

• Coordinate with desk analysts and sales to develop the franchise

Governance & Controls

• Work in close partnership with control functions such as Legal, Compliance, Market and Credit Risk, Audit, and Finance to ensure appropriate governance and control infrastructure

• Build a culture of responsible finance, good governance and supervision, expense discipline and ethics

• 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

• Adhere to all policies and procedures as defined by the role; obtain and maintain all required registrations and licences within the appropriate timeframe

• Escalate, manage and report control issues with transparency

Qualifications & Profile

The role is open to all backgrounds. We value intellectual curiosity, analytical rigour, and a disciplined approach to risk-taking above all else.

Core Requirements

• This is an entry level position, however some experience is preferred.

• Strong analytical and quantitative background with strong attention to detail

• Good programming skill (Python)

• Interest to learn and understand various asset classes and associated risks

• Ability to multi-task and work in a dynamic environment under tight deadlines with changing priorities

• Consistently demonstrates clear and concise written and verbal communication

• Effective interpersonal skills to develop and maintain relationships with internal and external stakeholders

• Competent with latest AI tools — including generative AI, LLM-based assistants, and AI-augmented analytics platforms

Nice to Have

• Ability to develop quantitative tools to optimise risk/return — including scenario engines, attribution models, or capital allocation frameworks

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Job Family Group:

Institutional Trading

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Job Family:

Trading

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Time Type:

Full time

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Most Relevant Skills

Please see the requirements listed above.

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Other Relevant Skills

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.