{"id":3184812,"url":"https://alion.io/job/citi-delta-one-swaps-trader","title":"Delta One Swaps Trader","company":{"id":7841,"name":"Citi","domain":"citi.com","url":"https://alion.io/company/citi","size_band":"5000+","is_staffing_agency":false,"employer_type":"direct","is_intermediary":false,"listed_via":null,"ats_vendor":"Workday","truth_index":{"grade":"A","score":100,"open_postings":512,"ghost_share":0.006,"stale_share":0.131,"repost_share":0.072,"time_to_fill_p50_days":9,"computed_at":"2026-10-31T05:58:55Z"}},"role":"Finance","role_family":"Finance","seniority":null,"employment_type":"full_time","work_mode":"hybrid","remote_scope":null,"remote_scope_basis":null,"remote_working_hours":null,"hiring_geo_confidence":"structured","locations":["London, United Kingdom"],"countries":["GB"],"hiring_countries":[],"hiring_countries_total":0,"salary":null,"salary_estimate":{"min_usd":45000,"max_usd":107000,"period":"year","method":"role_country_seniority_unknown","sample_n":588},"experience_years_min":null,"visa_sponsorship":false,"relocation_package":false,"has_equity":false,"technologies":[{"name":"Python","optional":false},{"name":"SQL","optional":false}],"status":"live","first_seen_at":"2026-10-13T00:00:00Z","employer_posted_date":"2026-10-13","last_verified_at":"2026-10-31T06:57:21Z","board_verified":true,"closed_at":null,"days_open":18,"trust":{"level":"ok","repost_count":null,"flags":[],"days_open":18},"description":"Citi Markets operates at the intersection of innovation and scale. Our operation is uniquely global. Our client list is remarkably varied. Our product range is incredibly broad. But we're not the finished article. We have big ambitions for the future and all the resources we need to reach them, including some of the smartest people in the industry. As a critical component of our global franchise, our Delta One desks provide clients access to cost-effective solutions for gaining their desired exposure, driving Citi’s competitiveness while maintaining prudent risk management and regulatory compliance.\nThe Delta One Swaps Trader is a senior, revenue-generating position responsible for overseeing trading activity for our ETF Swap Provision product. This role sits within Citi's Delta One trading unit and includes pricing, risk management & lifecycle optimization where we provide synthetic exposure to ETF issuers, with scope to expand the activity into other index + collateral basket pairs. You will deliver on budgeted revenues, anticipate client demand, focus on sustainable scalability, develop solutions for new product offerings and co-ordinate closely with partners across the franchise. This market remains a fast growing space in which Citi is strategically well positioned to continue expanding, where this role is pivotal to driving in that direction.\nPrimary Responsibilities\nCentral point of pricing for new trades, coordinating between multiple teams to aggregate the overall value of the relevant structures to balance competitiveness, balance growth and ensuring appropriate returns on resource consumption\nEffectively manage and optimize inventory, coordinating the use of index inventory to extract maximum value before constructing the collateral baskets. Manage the lifecycle of the basket swaps and their hedges to ensure optimization, compliance with relevant constraints and operational pragmatism.\nCo-ordination with Sales to build & maintain strategic relationships with new & existing issuers. Ensuring Citi are at the forefront of new product offerings, day 1 providers and growing existing balances\nConsider the financial resource footprint and intersection with wider funding needs of the Prime & D1 business, leveraging the structures where possible to provide capacity for the Funding team\nCoordinate closely with desk analysts, quantitative strategists, and Sales teams to enhance execution capabilities, build out monitoring and rebalance tools while improving STP workflows\nUphold rigorous governance, controls, and ethical standards by partnering with Legal, Compliance, Market Risk, Credit Risk, Audit, and Finance to ensure adherence to Citi's Code of Conduct, regulatory requirements, and the Plan of Supervision for Global Markets and Securities Services.\nWhat We Need from You\nDirect experience in Delta One or Prime Finance trading roles with a particular focus on Total Return Swaps and their use as a funding/collateral management tool. Strong understanding of Index trading dynamics also required, while a direct background in management of ETF swap provision facilities is preferred\nDeep technical knowledge of funding & borrow mechanics - how Delta One & Prime businesses extract maximum value from the inventory they hold & how they manage term risks. Furthermore an understand of dividend treatments, corporate actions, cross currency basis and other adjacent products is required\nAdvanced analytical and numerical competency, including proficiency in Bloomberg Terminal functionality, booking systems and working knowledge of Python or SQL for data analysis and trade workflow optimization.\nProven ability to co-ordinate projects & initiatives, with specific examples of driving business growth and development beyond just maintaining an existing operating model.\nConsistently demonstrates clear and concise written and verbal communication with the ability to articulate trading rationale, market dynamics, and risk exposures to senior stakeholders, Sales teams, and control functions.\nMaster's degree preferred in Finance, Financial Engineering, Mathematics, Economics, Computer Science, or a related quantitative discipline; relevant licensing and registrations as applicable (FCA Approved Person status, CISI, CFA preferred).\nWhat Citi Can Offer You\nBy joining Citi London, you will not only be part of a business casual workplace with a hybrid working model (up to 2 days working at home per week), but also receive a competitive base salary (which is annually reviewed), and enjoy a whole host of additional benefits such as:\n27 days annual leave (plus bank holidays)\nA discretional annual performance related bonus\nPrivate Medical Care & Life Insurance\nEmployee Assistance Program\nPension Plan\nPaid Parental Leave\nSpecial discounts for employees, family, and friends\nAccess to an array of learning and development resources\nAlongside these benefits Citi is committed to ensuring our workplace is where everyone feels comfortable coming to work as their whole self, every day.\nWe want the best talent around the world to be energized to join us, motivated to stay, and empowered to thrive. If you are actively working with clients, have a passion for relationships and want to be part of a successful global franchise - then apply today.\nThis job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.\nCandidates applying for this role must be aware that it is a Certified Role, subject to the FCA and PRA Certification Regime.\nThe Certification Regime is one element of the Individual Accountability Regime which came into effect on 7 March 2016.\nUnder the Certification Regime, Citi UK regulated entities (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.\nUnder the guidance provided by the FCA and PRA, firms should have regard to the following when assessing fitness and propriety:\nHonesty, integrity and reputation\nFinancial soundness\nCompetence and capability\nIn order to comply with the requirements of the Certification Regime, 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.\nThis assessment will be carried out through extensive interviews, self-disclosures, permitted criminal record checks, regulated reference checks, credit checks and other background screening checks.\n------------------------------------------------------\nJob Family Group:\nInstitutional Trading------------------------------------------------------\nJob Family:\nTrading------------------------------------------------------\nTime Type:\nFull time------------------------------------------------------\nMost Relevant Skills\nPlease see the requirements listed above.------------------------------------------------------\nOther Relevant Skills\nFor complementary skills, please see above and/or contact the recruiter.------------------------------------------------------\nCiti 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.\nIf 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.\nView Citi’s EEO Policy Statement and the Know Your Rights poster.","description_format":"text","description_chars":7757,"description_truncated":false,"requirements":{"experience_years_min":null,"management_years_min":null,"team_size_min":null,"manages_managers":false,"education":{"level":"master","optional":false},"security_clearance":false,"languages":[]},"benefits":["Annual leave","Hybrid work","Life insurance","Parental leave"],"hiring_locations":[{"name":"United Kingdom","iso":"GB","kind":"country"}],"hiring_excludes":[],"relocation_offered":false,"industries":["Cards & Card Issuing","Wealth Management & Financial Advisors","Payment Processing 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