Quantitative Analyst - Markets Regulatory Reform - New York, NY
- Primary Location: United States,New York,New York
- Education: Bachelor's Degree
- Job Function: Trading
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: No
- Job ID: 19027920
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi's Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients' and the public's trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop to are widely available to all.
Located on the Trading Floor, the Front Office Regulatory Reform Implementation Team seeks to add a quantitative analyst to Volcker Client Demand analytics team. The Markets Quantitative Analyst will support the implementation and roll out of multiple analytical Volcker requirements for Citi Markets. The Volcker Rule is one of the most significant changes impacting financial markets globally. As a major US global bank, impact on Citi is significant and is one of the highest profile and important regulation affecting Citi Markets.
The rule requires that banking entities stop certain prop trading and funds investment activities, by relying on the implementation of multiple new analytical frameworks. The Markets Trading Analyst will help develop these new analytical frameworks for Citi Markets trading activity, including:
• Analysis of customer demand for Markets' Trading desks, and assessment of adequate level of assets/risk for client inventory
• Review of trading volumes with customers, and analysis of turnover of market risk factors
• Assessment of hedges used for risk management with principal risk in market making inventory
• Analysis of Volcker metrics results for Markets - involving Finance, Risk, and Customer activity data
• Efficiently manage large data sets of ~ 50bn data points/month to draw analytical insights for trading desks and other markets businesses
These analytical frameworks provide not only an overall understanding of each desk business, but also a detailed consideration of the impact of each trade on market risk factors. The analysis and results are discussed with Trading Desk heads plus Market Risk managers, and drive necessary changes to business processes and systems to support compliance with the regulatory requirements.
In addition, the team is planning to overhaul its underlying data infrastructure to create a unified data platform comprising trading, risk, client, and product information under a single umbrella. This will involve working on interesting data sets from trading desks, market risk, client management systems and market data, and engagement with associate teams. Consequently, the role provides a great exposure and opportunities to learn and apply big data skills
Given that this is a new industry-wide requirements, applicable to all global banks, the Markets Quantitative Analyst will not only be able to develop new in-depth knowledge of each business, but also contribute to the design of management tools used by the trading desks. Ideal candidates will have strong analytical and problem solving skills, together with solid communication/presentations skills, and ability to deliver on an impactful change program.
The following are some of the specific activities expected of this role:
• Work with the trading business to analyse the trading and associated risk activity of each desk, within the necessary frameworks
• Design analytical frameworks, develop tools for data validation
• Present analysis concept and results to Citi Markets businesses heads and functional/control seniors
• Prepare presentations to the regulatory agencies, and discuss the metrics project details with the regulators
• Deliver presentations to senior management covering project status and plans
• Participate on industry meetings and conferences, interacting with peers from other financial institutions
• Become a point of contact and provide subject matter expertise for internal and external related queries relating to Volcker analysis
Knowledge, Experience & Skills:
• Experience developing robust market risk analysis, using large complex sets of data, and managing junior analysts is essential
• Understanding of Cash & Derivative trading covering multiple asset classes is not essential but would be an advantage
• Awareness and understanding of the key drivers, industry challenges and opportunities of capital markets businesses
• Experience/familiarity with programming languages (R / Python / SQL) is highly desirable
Skills and Competencies - Must be able to demonstrate extensive experience of:
• Strong numerical and problem solving skills, with analytical mind-set and comfortable working with large amounts of data within Excel
• Strong project management skills to manage implementation of high-profile business projects within tight deadlines
• Interpersonal, influencing and organizational skills to mobilize and motivate delivery in a co-operative and collaborative working environment using appropriate matrix management of teams across trading and support/infrastructure/control functions
• Excellent verbal and written communication skills utilizing different media, to effectively communicate with senior management, clients and regulators
• College/university education required, with an MBA, STEM/quantitative major or CFA strongly preferred. Appropriate industry experience & exceptional delivery track record is as important.