Quantitative Research - Credit - Associate or Vice President

J.P. Morgan; London; On-site; GBP 60,000 - 120,000; Full time

Job summary

Join a forward-thinking financial institution as an Associate or Vice President in the Quantitative Research Credit team. This role emphasizes pricing models and analytics, enhancing risk management, and modernizing trading platforms. Daily collaboration with trading and structuring teams across major financial hubs ensures that your contributions directly impact bespoke transactions and overall market strategies. If you have a strong background in fixed-income derivatives and a passion for quantitative analysis, this position offers a unique opportunity to influence the future of credit trading in a dynamic environment.

Qualifications

• 5+ years of experience in fixed-income derivatives and exotics.
• Strong analytical and quantitative problem-solving skills.

Responsibilities

• Collaborate with global trading and structuring teams to capture needs.
• Support bespoke transactions and analyze hedging effectiveness.

Skills

Analytical Skills

Quantitative Problem-Solving

Software Design Principles

Team Collaboration

Attention to Detail

Education

Advanced Degree in Mathematics

Ph.D. in a Numerate Subject

Tools

Python

C++

Job description

This role will focus on supporting the Credit Exotic business, a key component of our leading Credit division among sell-side institutions. J.P. Morgan Global Credit Trading provides top-tier, integrated financial services to a global clientele, offering financial assets and liquidity solutions for banks, insurance companies, finance companies, mutual funds, and hedge funds. Our traders, salespeople, and research analysts collaborate to generate innovative ideas and maintain our competitive edge in the market. The Credit business facilitates secondary markets in high-grade bonds/CDS, high-yield bonds/CDS, distressed bonds, indices, options, correlation products, and other exotic structures.

The Credit QR team is tasked with developing and maintaining models for valuation, risk, P&L calculations, as well as creating quoting and market-making algorithms and analytical tools. Our responsibilities encompass the entire model lifecycle, from new model specification and approval to ensuring compliance with internal policies and industry regulations, implementing models in our library, and integrating them into risk and P&L systems.

Job summary:

As an Associate or Vice President in the Quantitative Research Credit team, your primary focus will be on pricing models, delivering analytics as well as ensuring the QR team provides an effective toolkit to the Credit Exotic business. The role covers all aspects of QR support, with a particular emphasis on assisting the desk with bespoke transactions, enhancing risk management capabilities, and modernizing the trading platform systems. Daily interaction with trading and structuring teams is expected, as the team rotates between positions within the broader Credit QR team and the trading desk.

Job responsibilities:

• Collaborate with trading and structuring teams globally (London, New York, Paris and Hong Kong) to ensure their needs are captured
• Support trading of bespoke and hybrid structures and assist in analyzing hedging effectiveness and understanding P&L sources
• Explain model behavior, conduct scenario analysis, develop, and deliver quantitative tools and support analytics
• Document ideas and implement solutions directly or coordinate with the broader team to achieve this
• Contribute to platform modernization by transitioning analytics to modern frameworks and decommissioning legacy systems
• Drive the automation agenda by minimizing repetitive tasks and contributing to the development of e-commerce platforms
• Write technical model documentation compliant with internal and regulatory standards and engage with model control teams to facilitate timely and efficient reviews and approvals

Required Qualifications, Capabilities, and Skills:

• Strong business and modelling knowledge from prior experience in fixed-income derivatives and exotics (credit or rates)
• You demonstrate exceptional analytical, quantitative and technical problem-solving skills with a structured mathematical approach and thought process
• You have an advanced degree in mathematics, statistics, physics, financial engineering or computer science
• You have at least 5 years of experience supporting a credit market-making desk or equivalent experience on both sell-side and buy-side firms
• You demonstrate an interest in good software design principles and familiarity with collaborative software development process in a dynamic and demanding environment
• You have a strong software design and data science skills
• You are a team player with excellent oral and written communication skills for interaction with trading, technology and control functions
• You demonstrate proactive attitude with a natural interest in learning about our business, models, and infrastructure
• You have ability to work effectively in a highly dynamic environment with an attention to detail and focus on quality deliverables

Preferred Qualifications, Capabilities, and Skills:

• You have a Ph.D. in a numerate subject from a top academic institution
• You demonstrate experience in in Python and C++