Quantitative Research - Prime Financial Service - Associate

JPMorganChase; Greater London; On-site; GBP 65,000 - 85,000; Full time

Job summary

A leading financial services firm in Greater London is seeking an Associate within their Quantitative Research team. In this role, you will develop mathematical models for pricing and risk measurement of derivatives while leveraging advanced machine learning techniques. The ideal candidate holds a relevant advanced degree, has strong coding skills, and experience in trading desk support. You will contribute to transforming the investment bank into a data-led business, emphasizing collaboration with technology partners.

Qualifications

• Advanced degree in Mathematics, Physics, or Computer Science is essential.
• Knowledge of FnO/OTC derivatives and risk methodologies is mandatory.
• Proficiency in coding (Python or C++) is required.
• Experience in trading desk support as a quant or developer is necessary.
• Ability to engage with business/non-tech stakeholders is expected.
• Detail-oriented and able to manage ad hoc requests effectively.

Responsibilities

• Develop and improve mathematical models for pricing and risk measurement.
• Support portfolio risk management solutions and explain model behaviour.
• Deliver analytics that contribute to the automation agenda.
• Collaborate with Technology and Product Development teams.
• Drive projects from brainstorming to production.
• Develop ML/AI models within solutions.

Skills

Quantitative and problem-solving skills

Strong coding skills (Python or C++)

Excellent communication skills

Detail-oriented

Team player

Education

Advanced degree (PhD, MSc, or equivalent) in Mathematics, Physics, or Computer Science

Tools

Machine Learning algorithms

Statistical analysis tools

Job description

Quantitative Research (QR) is a global team whose expertise ranges across various fields: Derivatives Modelling, Financial Engineering, Data Science, and Quantitative Development. We provide quantitative expertise and a diverse range of product offerings to clients. As part of the global QR Group, you’ll work on unique analytics and mathematical models, transforming business practices through automation and quantitative methods, where JP Morgan is a dominant player.

Job Summary

As an Associate within the QR Market team, you will mainly contribute to the FnO and OTC derivatives risk and margin agenda for QR Prime Financial Service as well as to the strategic agenda to transform our investment bank into a data‑led business and encourage change using state-of-the-art machine learning techniques.

The QR Prime Financial Service (PFS) team is within Equity Quantitative Research and is part of the global Quantitative Research Group. Our mission is to provide quantitative expertise and contribute to delivering a wide product offering to our clients. We develop and maintain sophisticated mathematical models, cutting‑edge methodologies, and infrastructure to help the PFS business. We leverage the JP Morgan Athena quant platform to provide pre‑ and post‑trade and risk management capabilities for Cash Equity and FnO/OTC derivatives across all asset classes. We also develop our own analytics and mathematical models that add value to the business and help promote advanced electronic solutions to our clients worldwide. We work closely with our Technology and business partners to deliver our solutions in production.

Job Responsibilities

• Develop and improve mathematical models for pricing and risk/margin measurement for multi-asset FnO/OTC derivatives. Support EOD and intraday risk/margin and PnL calculation.
• Support the desk and provide portfolio risk management solutions by explaining model behaviour, identifying major sources of risk in portfolios, carrying out scenario analyses, calibrating margin methodology, and developing and delivering quantitative tools.
• Develop and deliver analytics that help transform the business and contribute to the automation agenda.
• Partner with Technology and Product Development to deliver QR analytics to the business.
• Drive projects end-to-end, from brainstorming and prototyping to production delivery.
• Develop and deliver ML/AI models and end-to-end solutions.
• Contribute to EOD or intraday hedging activities and algorithm design.

Required Qualifications, Capabilities, and Skills

• You have an advanced degree (PhD, MSc, or equivalent) in Mathematics, Physics, or Computer Science.
• You have knowledge of FnO/OTC derivatives products, a good understanding of risk/PnL and margin methodology, and demonstrate quantitative and problem-solving skills.
• You have strong coding skills (primarily Python or C++), proficiency in code design, and can navigate large libraries and quickly debug complex logic.
• You have previous experience in a trading desk support position, either as a quant or a developer.
• You have excellent communication skills, both verbal and written, can engage and influence partners and business/non‑tech stakeholders, and are enthusiastic about knowledge sharing and collaboration.
• You are a strong team player who consistently delivers high-quality results on time, aligned with the team’s objectives and priorities.
• You are detail‑oriented, can work on ad hoc requests, and can sometimes work under pressure.

Preferred Qualifications, Capabilities, and Skills

• You have knowledge of curve building, volatility surface calibrations, etc.
• You have knowledge of market risk, time-series analysis, VaR, and stress testing.
• You demonstrate knowledge of Prime and Clearing Margin Methodology.
• You have knowledge of ML algorithms and experience in delivering AI models and end-to-end solutions.
• You have knowledge of optimization and hedging algorithms.

About Us

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.

About the Team

J.P. Morgan’s Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.