Mr. Mammola began his career at BNL (now part of BNP Paribas) as a research analyst before transferring to Banca Intesa in 1988 where he spent 2 years in Luxembourg in various positions including junior manager of its long-only equity and bond funds. He then joined the Italian Securities and Exchange Commission (CONSOB) in 1990 where he rose to become interim head of the Derivatives Markets regulation and surveillance office.  

In 1998 he joined Citibank in Milan as a Risk Manager before transferring to London where he became head of European Equities Market Risk management and Managing Director in 2006. Following this, Paolo joined Barclays Capital where he held various senior positions including Global Head of Equity Risk Management, Head of Market Risk Portfolio Risk Management, Head of Counterparty and Financial Institution Credit Risk, Interim Group Head of Financial Risk, before becoming Global Head of Market Risk in 2015.

In 2016, after leaving Barclays, he set up his own advisory company and provided advisory services to McKinsey in their risk management practice. He also acted as a senior expert witness in important cases involving a global bank in London at the London High Court and a global structured credit hedge fund at the NY State Supreme Court.

In 2019, he rejoined Citigroup as UK Chief Risk Officer with responsibility over all financial and non-financial risks for UK Legal entities and sat as a permanent member of the Citigroup Global Markets Limited Board Risk Committee. From 2021 to June 2024, Mr. Mammola worked as Global Head of Margin Lending and Head of in-business counterparty risk management for the Global Wealth Division.