Citi
Asset Backed Securities (ABS) Structurer
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At Citi Markets, we win together. In a rapidly changing world, our shared vision gives us the clarity, agility and global perspectives we need to shape the future. That's why collaboration plays a central role in how we deliver for clients, develop our people, and grow our business. Our operation is uniquely global. Our client list is remarkably varied. Our product range is incredibly broad. Within Strategic Equity Solutions business, we are at the forefront of innovation in private capital markets, delivering bespoke capital raising and liquidity solutions to the world's most sophisticated alternative asset managers and institutional investors.
As a Director-level ABS Structurer, you will play a pivotal role in originating, structuring, and executing asset backed securities such as Collateralised Fund Obligations (CFOs) and Rated Note Feeder (RNF) structures for Tier-1 private equity, private credit, and alternative asset managers globally. This is a high-impact, revenue-generating position at the intersection of structured credit, fund finance, and capital markets. You will work directly with C-suite executives at leading sponsors to design innovative capital raising and financing solutions that unlock liquidity from illiquid portfolios while creating investment-grade rated debt tranches for institutional investors. Our open, supportive culture empowers us to share clients, ideas, and success, creating new possibilities with every conversation and redefining the future of private capital markets.
Primary Responsibilities of the Role
- Design and execute complex ABS transactions from origination through closing, including structuring multi-tiered capital stacks (Senior, Mezzanine, and Equity tranches), building sophisticated cash flow waterfall models that account for unpredictable LP distributions, J-curve dynamics, and capital call schedules, and optimizing credit enhancement mechanisms including overcollateralization tests, reserve accounts, and liquidity facilities
- Drive rating agency engagement and regulatory advisory, managing the end-to-end rating process with KBRA, Fitch, Moody's, S&P and Morningstar DBRS, preparing comprehensive collateral data tapes and rating presentations, negotiating eligibility criteria and concentration limits, and ensuring structures achieve optimal capital treatment under Solvency II, NAIC, and other regulatory frameworks
- Originate and pitch solutions to alternative asset managers, developing tailored proposals that address capital raising and liquidity needs, presenting complex financial engineering concepts to GP management teams, and building long-term strategic relationships with key decision-makers
- Contribute to the placement by engaging with debt and equity buyers, presenting the opportunity and addressing questions and investor diligence requirements
- Manage legal negotiations and transaction execution, collaborating with internal and external counsel to draft offering memoranda, indentures, credit agreements, SPV formation documents and negotiating transfer restrictions on LP interests and bankruptcy-remote structures
- Develop innovative product solutions that address evolving market needs in private capital liquidity, staying ahead of regulatory changes and market trends, and contributing to the strategic development of Citi's Strategic Equity Solutions platform
- Mentor and develop junior team members, providing technical guidance on complex modelling and structuring challenges, fostering a collaborative team environment, and contributing to knowledge-sharing initiatives across the broader Markets organization
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What We Need from You
This is a Director level role, therefore we require extensive structured finance experience in Asset-Backed Securitization, Structured Credit, CLO Structuring, NAV Lending, Fund Finance, including a proven track record of successfully executing complex securitizations or bespoke fund-level financing transactions with demonstrable revenue generation
- Deep technical and quantitative expertise including mastery of advanced financial modelling (Excel, VBA, Python, or specialized structured finance software such as Intex), ability to build and stress-test complex cash flow waterfall models and strong understanding of SPV structures, bankruptcy-remote entities, and security pledge mechanics
- Comprehensive private markets knowledge with expert-level understanding of private equity, private credit, venture capital, and hedge fund mechanics including NAV calculations, capital calls, distributions, LP agreements, and GP-led transactions, as well as familiarity with fund structures across multiple jurisdictions
- Rating agency and regulatory fluency with demonstrated experience managing rating agency processes and achieving investment-grade ratings, strong grasp of insurance capital frameworks (Solvency II, NAIC/RBC) and their impact on structure design, and knowledge of UK/EU Securitisation Regulations and risk retention requirements
- Exceptional client-facing and communication skills with ability to explain highly complex financial engineering concepts to C-suite executives, sponsors, and institutional investors, strong negotiation capabilities to align conflicting stakeholder interests, and proven ability to build and maintain senior-level relationships with alternative asset managers
- Academic credentials and professional qualifications including a Bachelor's degree in Finance, Mathematics, Engineering, Economics, or a highly quantitative field (MBA, CFA, or relevant advanced degree strongly preferred), combined with strong project management skills to coordinate multi-month transactions involving sponsors, rating agencies, legal counsel, auditors, and syndication teams
What Citi Can Offer You
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
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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.
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
Candidates applying for this role must be aware that it is a Certified Role, subject to the FCA and PRA Certification Regime. The Certification Regime is one element of the Individual Accountability Regime which came into effect on 7 March 2016. 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
- Financial soundness
- Competence and capability
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.
Job Family Group: Institutional Trading
Job Family: Structuring
Time Type: Full time
Most Relevant Skills Please see the requirements listed above.
Other Relevant Skills For complementary skills, please see above and/or contact the recruiter.
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.
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