Intermediate Derivative Analyst

Organization Overview:

Citi Markets Operations is currently at a pivotal point in its evolution and journey to implement a target operating model. We take pride and are passionate about our People and our culture.  We are invested in our People and their development. We are transforming and simplifying our operating model, creating an exciting environment which encourages diversity of thought and inclusion. 

We are a dynamic, global, and diverse Organisation, with a presence in over 60 Countries; covering all front post execution Operations teams including product aligned Middle Office groups, Settlements, Margin, Asset Servicing, Listed Derivative & Commodities Operations. We support an extensive range of Capital Markets products and services including Fixed Income (FX, Rates, Credit, Muni, Cash and Derivatives) where Citi is consistently a dominant top 3 player in the market, Equity (Cash, Derivatives, Prime Brokerage, Futures, Listed Derivs, FXPB) where Citi has a significant growth program to continue to build out its capabilities and services; and Syndicates where we support both FI and EQ new issues and IPOs.

Our Operations groups are core to the success of the Markets business and have significant impact across the lifecycle of a trade.  We partner extensively with a range of internal stakeholders including Front Office Sales and Trading Desks, Compliance, Legal, Finance and HR; alongside having significant interaction with our external client base, playing a key role in the overall client experience. We have a Client relationship group, dedicated to overseeing the Organizational service performance and strategic partnership for our top tier client base, where we play a key role in supporting our global clients to ensure they have a first-class experience when doing business with Citi.

Our Business Intelligence and Process Re-engineering group works alongside our Operations teams delivering automation solutions to solve for operational challenges.  We partner with Citi’s innovation labs to drive optimization, and overall play a pivotal role in enabling us to transform to achieve our target operating model.

Our Technology partners develop and implement a wide range of applications that support the Operations, Change, Design and Implementation groups in providing innovative products and solutions. We have re-imagined how to provide technology and service in our domain through the alignment of our team vision, culture, and aggressive retirement plan for legacy applications and adoption of a micro-based containerized cloud environment. We encourage our people to create, explore and be adventurous whilst taking measured risk, adopting safe practices to protect the firm. Data lineage and optimization is core to how we develop our eco system. We are growing our capabilities using artificial intelligence, natural language processing and machine learning. 

Our roles entail ensuring we operate in a robust control environment, whilst in a fast-paced workplace.  We comply with global regulations and internal policies and adopt a proactive approach to identifying opportunities to reduce risk through the continuous evaluation of our controls; to protect our clients, the firm, and our reputation.

We work closely with our external global peers, partners, and regulators, and play an integral part in leading an agenda at the forefront to optimize and streamline processes and drive strategy across our industry. 

Team Overview:

The Structured Trade Review in Belfast is one element of a wider control framework that ensures the accuracy of trade bookings and the correct representation of trades in the risk booking systems. It validates that, for all in-scope trades, all economic parameters captured in the trade booking are thoroughly reviewed, documented, and recorded. Structured Trade Review(STR) process addresses the risk of booking errors or misrepresentation in books & records for trades where there is no direct link between term sheet and booking defined in the Structure Trade Review Policy.

Job Purpose:

The Derivatives Intermediate Analyst is a brilliant opportunity to join a growing team based in Belfast with opportunities for progression and development. The role will consist of daily interaction with Derivative traders, Structuring, Traders & develop a deep understanding of Financial Derivative products,

Responsibilities:

• Structure Trade Review requires an in-depth understanding of the trade structure as well as expected payoffs based on moneyness. You will be responsible to validate booking parameters and payoff. You should be able to understand how an economic parameter of trade impacts P&L and trader`s book.
• Ensure the model is approved by the Quantitative Group and is capable of handling all the features of the trade.
• Read and understand term sheet and validate booking in risk system.
• You should be able to understand pay off language from term sheets for example barrier type, barrier events , coupon contingency etc.
• Review and escalated to Trading and Sales if any of the parameters of the trades are incorrectly booked.
• Liaising extensively with traders, regional stakeholders, and quants team.
• To generate various control reports pertaining to STR.
• Continuous review and study of model and pay off manuals.

Qualifications:

• Experience in OTC Equity or Structure Derivative preferred
• Knowledge of Equity Swap, Barrier Options, Callable Notes, Rainbow Options, Variance swap, Vol target will be required.
• Experience with MS Excel Python will be advantage.
• Degree of a mathematical nature preferred

Education:

• GCSE English & Maths or equivalent experience

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

What we Offer:

We work hard to have a positive financial and social impact on the communities we serve. In turn, we put our employees first and provide the best-in-class benefits they need to be well, live well and save well.

We’ll provide you with the resources to meet your unique needs, empower you to make healthy decisions, and allow you to choose which benefits suit you and your personal life best.

Visit our Global Benefits page to learn more.

Highlights to our core benefits include:

• Award winning pension
• On-site health services
• Private medical insurance packages to suit your personal circumstances
• Paid parental leave
• Generous holiday allowance starting at 27 Days plus bank holidays; increasing with tenure

Citi Belfast also champions diversity within our workforce, which helps us be well and live well together. We have over 40 different nationalities in our Northern Ireland offices, are a vocal supporter of LGBTQ+ rights, and are proud to have 47% of our leadership team made up of individuals who identify as women.

We encourage and lead inclusivity through our Pride, Disability, Multicultural, Families Matter, and Women affinity networks that are run by and for, Citi Belfast colleagues; providing them with the support they need in their personal and professional journeys and supplying them with the tools to help educate colleagues on all things related to each network to help us work better together. 

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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.

If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.

View Citi’s EEO Policy Statement and the Know Your Rights poster.