Head of Commodities XVA Trading

Role Overview:

The Head of Commodities XVA Trading will be responsible for defining and executing the trading strategy, managing risk, optimizing capital, and leading a team of traders across our London, Paris and Houston offices. Reporting directly to the Head of Global XVA Trading, this role requires a deep understanding of commodities markets, XVA methodologies, regulatory requirements, and proven leadership capabilities within a global markets business.

This role can be based in London or Houston. (Houston role : 26965548)

Key Responsibilities:

• Strategic Leadership: Lead the Commodities XVA desk, in alignment with the global XVA trading desk mandate to enable profitable Commodities business performance and competitive positioning.
• Trading & Profitability: Oversee all XVA trading activities for the Commodities portfolio, ensuring optimal P&L performance. Manage exposure to Credit Valuation Adjustment (CVA), Funding Valuation Adjustment (FVA), Capital Valuation Adjustment (KVA), and other relevant valuation adjustments.
• Risk Management: Establish and enforce robust risk management frameworks, controls, and limits for the desk's activities. Monitor market risk, credit risk, operational risk, and liquidity risk. Ensure compliance with internal policies, regulatory requirements (e.g., Basel, FRTB, Dodd-Frank), and industry best practices.
• Team Management & Development: Lead, mentor, and develop a high-performing team of XVA traders and junior analysts in London, Paris and Houston. Foster a collaborative and innovative culture, promoting continuous learning and professional growth. Manage performance, recruitment, and retention of talent.
• Capital Optimization: Drive initiatives to optimize capital utilization and balance sheet efficiency, working closely with our Markets capital management leads.
• Stakeholder Engagement: Collaborate effectively with internal stakeholders including Sales, Structuring, MQA, Technology, Credit and Market Risk Management, Legal, Compliance, and Finance. Represent the desk in internal committees and external industry forums.
• Regulatory Compliance: Ensure all trading activities adhere to relevant local and international financial regulations, compliance standards, and internal governance frameworks. Stay abreast of evolving regulatory landscapes impacting XVA and commodities trading.
• Infrastructure & Technology: Partner with Technology and Risk teams to enhance trading systems, analytical tools, pricing models, and reporting capabilities for XVA.
• Market Analysis: Conduct in-depth market analysis to identify trends, dislocations, and potential risks or opportunities within the global commodities and derivatives markets.

Qualifications:

• Experience: This is not an entry level role. Proven experience in commodities and/or XVA trading, within a major financial institution.
• Leadership: Proven track record of successfully leading and managing trading teams, preferably across multiple geographies, demonstrating ability to foster seamless collaboration, drive integrated global strategies and build synergies that leverage diverse regional strengths..
• Technical Acumen: Expert knowledge of commodities markets (energy, metals, agriculture), derivatives pricing, and XVA models (CVA, FVA, KVA). Strong understanding of quantitative finance, stochastic calculus, and numerical methods.
• Regulatory Knowledge: In-depth understanding of global financial regulations impacting derivatives trading and capital requirements.
• Education: Bachelor's or Master's degree in a quantitative field such as Financial Engineering, Mathematics, Physics, Computer Science, or a related discipline. A CFA or FRM designation is a plus.
• Communication: Excellent communication, interpersonal, and presentation skills, with the ability to articulate complex strategies and risks to diverse audiences.
• Problem-Solving: Strong analytical and problem-solving abilities, with a strategic mindset.

Key Attributes:

• Strong commercial drive and P&L focus.
• Ability to perform under pressure and make sound decisions in fast-paced environments.
• High ethical standards and integrity.
• Adaptability and resilience in navigating dynamic market conditions.

 

By 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:

• 27 days annual leave (plus bank holidays)
• A discretional annual performance related bonus
• Private Medical Care & Life Insurance
• Employee Assistance Program
• Pension Plan
• Paid Parental Leave
• Special discounts for employees, family, and friends
• Access to an array of learning and development resources

Alongside these benefits Citi is committed to ensuring our workplace is where everyone feels comfortable coming to work as their whole self, every day. We 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.

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Under 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.

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
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In 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.

This assessment will be carried out through extensive interviews, self-disclosures, permitted criminal record checks, regulated reference checks, credit checks and other background screening checks.

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Job Family Group:

Institutional Trading

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Job Family:

Trading

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Time Type:

Full time

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Most Relevant Skills

Please see the requirements listed above.

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Other Relevant Skills

For complementary skills, please see above and/or contact the recruiter.

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