Individual will be responsible for all aspects of the Foreign Exchange Prime Brokerage (FX PB) business in EMEA.
FX PB is a service used by hedge funds, Commodity Trading Advisors (CTA's), Broker/Dealers, Retail Aggregators and Proprietary Trading Firms to achieve consolidated margin, reporting and settlement from a single counterparty while maintaining the benefits of multiple FX trading relationships. The individual will require a sound knowledge of FX markets and FX PB including, but not limited to, pricing, capital returns, risk management, industry utilities, ECN venues, ISDA documentation, EMIR, Dodd Frank and MiFID regulations.
Manage the EMEA FX Prime Brokerage business located in London.
Ensure the business meets and exceeds all return on capital hurdles and profitability targets.
Ensure that the FX PB remains along the "efficient frontier" by developing and implementing a business model that ensures revenue and returns are appropriately calibrated to the risk assumed by the business.
Work closely with the senior manager responsible (SMR), in business and independent risk (FIRM) teams to ensure that the risk is highly managed and risk issues are appropriately escalated in a timely manner
Working closely with IBR team, ensure that the product offering remains sufficiently liquid and effectively risk managed through on going monitoring of client exposures with a special focus on non-linear FX products;
Additionally, develop governance and controls to ensure that products offered to clients are suitable and commensurate with the client's fund size, sophistication and strategy.
Promptly escalate risk issues to senior product heads, the IBR team, FIRM, and SMR contacts based on pre-defined risk triggers defined across linear and non-linear product types
Drive regional prioritization of technology delivery items
Work closely with sales management during client budget processes to identify opportunities for client growth; assist with the origination of new business
Responsible for team discipline and ensuring client service and relationship oversight are at the high levels expected of the business.
Understand fully how Citi's various margin platforms work and how they apply to European customers.
Ensure operational, counterparty and market risks are minimized or eliminated through robust governance, compliance and limit monitoring control practices.
Business is in a strong growth phase with opportunity to expand the role as the business expands.
An opportunity ideally suited for experienced persons situated within a customer facing role with experience in FX trading, FX Prime Brokerage, Risk Management, Legal, and Operations.
Bachelor's degree required
Extensive years of relevant experience
Prior Derivatives Prime Brokerage experience essential and FX Markets experiences (sales, trading, ecommerce) considered a plus
Deep knowledge of FX Markets to include options (exotic and vanilla) valuation and risk
A thorough understanding of FX operations, operational infrastructure and novation protocols
Deep understanding of capital rules including CEM and SA-CCR calculations, along with optimization techniques
In depth knowledge of the execution landscape to include ECNs; familiarity with rule books, mishit policies and risk management/controls
Risk taking and/or risk management expertise, ideally including hands-on non-linear trading book risk management experience
Solid grasp of technology
Understanding of high frequency trading, broker/dealers and hedge fund operations, counterparty credit management and margin.
Full understanding of global regulatory landscape; EMIR and Dodd Frank regulations.
Management of client, vendor and 3rd party platform relationships.
Solid understanding of the OTC clearing and Futures execution and clearing landscape
Strong written and verbal communication skills.
Strong leadership and organizational skills.
Ability to interact at a senior level both internally and externally.
Ability to work well with cross-functional teams from Sales, Credit, legal, compliance, independent risk management, Operations and Technology.
Sound risk and business judgment.
Strong analytical skills.
Strong problem solving abilities.
Ability to work independently as well as in a team environment.
Customer focused and thoughtful approach to daily work.
Candidates applying for this role must be aware that it is a Certified Role, subject to the Certification Regime. The Certification Regime is one element of the Individual Accountability Regime which has come into effect on 7 March 2016. Under the Certification Regime, certain Citi entities must ensure that employees working in certain roles categorised as specified significant harm functions (Certified Roles) are assessed as fit and proper to carry out their role.
Under the guidance provided by the FCA and PRA, firms should have regard to the following when assessing fitness and propriety:
Honesty, integrity and reputation
Competence and capability
In order to comply with the requirements of the Certification Regime, certain Citi entities must take reasonable care to ensure that an employee does not perform a Certified Role without first being certified as Fit and Proper. For this reason, you will be assessed for this role against the Fit and Proper requirements, as described above. This assessment will be carried out through extensive interviews, self-disclosures, permitted criminal record checks, reference checks, credit checks and other background checks. If hired for this role, you will also be required to complete an annual declaration regarding your Fitness and Propriety.
By submitting your application, you acknowledge that you have read the information above and that you are applying for a Certified Role. You also agree to Citi carrying out any additional screening required, including permitted criminal record checks, reference checks, credit checks and any other background checks.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
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: 5857036
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