2027 Quantitative Research Markets Associate Program - Off-Cycle Internship - London

Next Frontier Capital; Greater London; On-site; GBP 70,000 - 95,000; Full time

Job summary

JPMorganChase is seeking an off-cycle associate in the Quantitative Trading & Research Markets team in London. You will develop mathematical models and algorithms, price and hedge a range of financial products, and support data-driven trading strategies with collaboration across traders, technologists and risk managers.

You will work on alpha research, model calibration and market-ready deployment, advancing electronic trading and market-making capabilities.

Qualifications

• Enrolled in a PhD program in a relevant field.
• Graduating between September 2026 and March 2028.
• Demonstrates programming experience (Python, C++, or similar).
• Shows strong analytical, quantitative and problem-solving skills.
• Demonstrates research experience through coursework or projects.
• Collaborative, communicates findings clearly to non-technical audiences.

Responsibilities

• Develop and maintain mathematical models and algorithms.
• Value and hedge financial transactions across product ranges.
• Support quantitative modeling and research for trading strategies.
• Collaborate with traders and technologists to apply research to markets.
• Calibrate model parameters and optimize pricing of instruments.
• Manage risk in existing portfolios.

Skills

PhD candidate

Programming (Python)

Programming (C++)

Analytical thinking

Research experience

Communication of findings

Machine learning basics

Options pricing interest

Education

PhD program in mathematics/statistics/physics/engineering/computer science/data science

Tools

Python

C++

Job description

As an off-cycle associate in the Quantitative Trading & Research Markets team at JPMorganChase, you will join a leading quantitative modeling group focused on systematic trading, financial engineering, data analytics, statistical modeling, and portfolio optimization.

You will work closely with traders, sales, marketing, technologists, and risk managers across products and regions. You will support research and strategy deployment, client and sales engagement, product innovation, valuation and risk management, and inventory and portfolio optimization, including electronic trading and market-making activities. You will help build quantitative models, methodologies, and infrastructure to price, hedge, and trade financial products, advancing algorithmic trading and data-driven strategies such as statistical arbitrage.

ABOUT THE PROGRAM

Our Global Markets teams develop sophisticated solutions to help clients manage risk, increase returns and solve complex financial problems. We hold leadership positions across all major financial markets worldwide. This means you'll be part of a dynamic team, helping to solve a wide range of interesting business issues and will be challenged in your work every day.

Expert instructors and J.P. Morgan professionals will teach you about our history, scale, and scope of our organization today and our ambitious plans for tomorrow. We’ll teach you technical and practical skills that will help you hit the ground running.

The program is an opportunity to take your career to the next level through hands‑on experience, relevant skills training and valuable professional networking. Based on your individual achievements, those who successfully complete the program may receive offers of full‑time employment.

Job Responsibilities

• Develop and maintain mathematical models and cutting‑edge algorithms, methodologies, and supporting infrastructure.
• Value and hedge financial transactions across a range of products, from flow products to complex derivative deals.
• Support quantitative modeling and research that inform trading strategies and decision‑making.
• Collaborate with trading teams to translate research insights into practical market applications.
• Partner with quantitative researchers, technologists, traders, marketing, and risk managers across teams.
• Conduct alpha research, calibrate model parameters, and optimise pricing of financial instruments to support growth and market share.
• Manage risk in existing portfolios.

Required qualifications, capabilities and skills

• Enrolled in a PhD program in a relevant field (e.g., mathematics, statistics, physics, engineering, computer science, data science, or machine learning).
• Graduating between September 2026 and March 2028.
• Demonstrates computer programming experience (e.g., Python, C++, or another programming language).
• Demonstrates analytical, quantitative, and problem‑solving skills.
• Demonstrates research skills (through coursework, projects, or academic work).
• Works effectively in a dynamic, collaborative environment.
• Presents findings clearly to non‑technical audiences through written and verbal communication.

Preferred qualifications, capabilities, and skills

• Demonstrates knowledge of options pricing theory or trading algorithms, or a demonstrated interest in finance through coursework or prior experience.
• Shows confidence and initiative to take ownership and manage projects independently.
• Applies knowledge of machine learning and data science concepts, techniques, and tools.

ABOUT US

At JPMorganChase, we’re creating positive change for the diverse communities we serve. We do this by championing your innovative ideas through a supportive culture that helps you every step of the way as you build your career. If you’re passionate, curious and ready to make an impact, we’re looking for you.

About You

A strong interest in global financial markets is essential, as are analytical and quantitative skills, flexibility, teamwork, excellent attention to detail, and the ability to handle pressure and enjoy a collaborative environment. A strong focus on science or engineering in your undergraduate studies is important.

Beyond that, what we’re most interested in are the things that make you, you: the personal qualities, outside interests, and achievements beyond academia that demonstrate the kind of person you are and the perspective you could bring to the team.

JPMorganChase is committed to creating an inclusive work environment that respects all people for their unique skills, backgrounds and professional experiences. We will provide reasonable accommodations for applicants with disabilities.

Visit jpmorganchase.com/careers for upcoming events, career advice, our locations and more.

©2025 JPMorgan Chase & Co. JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran

J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world’s most prominent corporations, governments, wealthy individuals and institutional investors. Our first‑class business in a first‑class way approach to serving clients drives everything we do. We strive to build trusted, long‑term partnerships to help our clients achieve their business objectives.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

Join us to deliver innovative quant solutions for global markets. Solve complex problems and grow through hands‑on learning.