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This role will form part of the EMEA LTA team, supporting the EMEA Head of LTA with the second-line oversight of high frequency, low touch algorithmic (LTA) trading activities across all firm activities which is currently concentrated in CGML and CBNA London branch, but expanding to CGME and other product capabilities in Markets Security Services (MSS) and potentially also expanding into other distribution businesses and sectors such as the Private Bank.
Job Background / Context:
This role will initially report into the UK CRO and is a critical part of the EMEA franchise given the significance of the legal entities covered, most notably CGML the international broker-dealer based in the UK which has assets of $140B / net income of $312mm and CBNA London Branch with assets of $120B / net income of $707mm.
The key aspects for the EMEA LTA team will be independently assess and understand the current usage of all LTA activities in Citi EMEA, understand the business growth in LTA and 'electrification' and to ensure the second-line collectively design and maintain a risk management and control framework that incorporates all risk management.
The role will be required to understand all distribution channels where LTA is deployed and the technology used to support them and subsequently develop and maintain a risk framework including overseeing adherence to Risk appetite, change management of LTA practices and second-line oversight of limit frameworks and relevant stress analysis.
Additionally, this role is in the UK and EMEA CRO office so will also be involved in a wide variety of UK and EMEA strategic initiatives and day-to-day risk management for UK vehicles.
The EMEA LTA officer will be accountable for supporting the EMEA Head of LTA with the following:
Identification and categorisation of the risks associated with all Algo's booked on CGML, CBNA London branch and CEP UK.
In coordination with Markets Security Services (MSS) and O and T plus other Risk functions, establish and validate a risk management framework.
Understanding the universe inventory of LTA activities and engage in control processes such as NPAC where new Algos are being used; reviewing intraday Algo's exposure to identify and control 'run-away' risk.
Challenge business risk appetite and co-ordinate a limit structure used to monitor LTA activity using a combination of Credit and Market risk limit structures and stress testing around client concentrations or market infrastructure.
Oversee the business governance and control framework including the LTA process management, supervision and surveillance controls including real-time oversight of market integrity and conduct concerns.
Ensure the combination of technology and financial modelling is adequately overseen and challenged including the independent review of Algo strategies and the changes to trading assumptions within Algos.
Active monitoring of the operational resilience, client availability and appropriate resilience stress testing as well as the risk assessment of new technologies applied to the channel.
Development and identification of key performance metrics to measure the effectiveness of the first and second line control framework.
Reviewing, challenging and approving the use of Algo's.
Develop a uniform standard for the use of Algo controls taking into account the potential market impact and 'run-away' risk.
Proactive engagement with all governance forums.
Establishes new and strengthens on-going relationships with a network of key stakeholders, partnering with senior colleagues (Market, Credit, Liquidity, and Operational Risk as well as Quantitative Risk and Stress Testing (QRS)), inspiring with confidence to provide insight and drive implementation of the strategic initiatives.
This role will provide unique visibility, cross-functional and cross-Risk experience and knowledge. The position involves a significant amount of interaction with senior management and direct involvement in a variety of the critical strategic projects within Citi in the EMEA region. The role will provide a strong understanding of the UK regulatory environment, the EMEA businesses and Risk governance. It will prominently be involved in delivering and fronting risk to local management and market risk across market, credit, operational, liquidity and franchise risk processes.
Opportunities also exist to broaden the breadth of cross firm experience across the products and functions in a general senior management leadership role.
Knowledge of Citi's markets businesses
An understanding the market micro structure and markets operating environment.
Familiarity with algorithms and e-trading, in particular FX and Equities.
An understanding of the current electronic trading regulatory framework in particular MiFID II and PRA SS5/18
Previous experience as a trader or risk manager is preferred.
Programming skills - Python or R preferred.
Some exposure to AI, Machine Learning will be considered a significant plus in the selection of the successful candidate.
Strong analytical skills with working knowledge of the principles of credit risk and/or market risk, capital markets and finance.
Understanding of Citi's business model and/or other financial institutions.
Experience of legal entity risk
Exceptional writing skills, with ability to synthesize complex concepts, translate into "user-friendly" language, and effectively present in text or slide format
Strong quantitative and spreadsheet skills, ability to analyse and interpret date
Diverse and wide range of skills and knowledge / expertise
Strong organisational skills and the ability to multi-task effectively in a high-volume and complex environment with changing priorities
Strong quantitative skills, particularly around statistics and strong attention to detail
Self-starter, ability to quickly assimilate and analyse large amounts of information across a variety of topics
Proven ability to partner and collaborate across the Firm, excellent influencing, facilitation, and partnering skills, with the ability to build relationships, partner effectively and build a strong internal network across functions and throughout the global Risk network together with the matrix at all levels of the organisation
'Process Improvement' mindset to increase the effectiveness and efficiency of the services offered
Strong tenacity and resilient under pressure and self-motivated in a fast paced and demanding environment
Highly engaged, strong attention to detail, and outcome oriented
The role demands a strong work ethic, willingness to 'roll up sleeves', with a tireless work ethich.
Strong analytical problem solving and the person should have a high level of integrity to deal with highly confidential data.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Valuing Diversity: Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.
Citi is an Equal Opportunities Employer
Internal Number: 6134792
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