Quantitative Researcher

Millennium Management LLC; Hong Kong; On-site; HKD 900,000 - 1,300,000; Full time

Job summary

Millennium is seeking a Quantitative Researcher in Hong Kong to advance volatility research and model development. You will build datasets, test alpha ideas, and push forward systematic options strategies with the volatility team.

The role combines financial intuition with statistical learning, requiring collaboration with senior PMs and risk managers to integrate datasets into investment processes and improve alpha generation across markets.

Qualifications

• Master’s degree or PhD in physics, mathematics, statistics, engineering, OR related STEM.
• At least three years in investment management or a quantitative research environment.
• Strong programming skills in Python, R, MATLAB, or C++.
• Deep knowledge of options and derivatives.
• Experience applying machine learning, statistical modeling, and data-visualization techniques.
• Excellent analytical, problem-solving, and communication skills.

Responsibilities

• Conduct quantitative research on volatility and market dynamics.
• Develop volatility-surface fitting and backtesting infrastructure.
• Create datasets and prototype alpha strategies for volatility teams.
• Collaborate with senior portfolio managers to integrate datasets into strategies.
• Apply ML, statistical modeling, and visualization to investment problems.

Skills

Quantitative research

Statistical learning

Analytical thinking

Effective communication

Education

Master's degree or PhD in physics, mathematics, statistics, engineering, OR related STEM

Tools

Python

R

MATLAB

C++

Job description

Quantitative ResearcherAbout MillenniumMillennium is a global, diversified alternative investment firm, founded in 1989. Defined by evolution, innovation and focus, Millennium’s mission is to deliver results for our investors.Our people are empowered with both independence and support: the autonomy to pursue ideas with conviction and the backing of a global network committed to collaboration, disciplined risk management and continuous learning. With opportunities to deepen expertise and accelerate development, talent at Millennium is equipped to adapt, evolve and build lasting impact over time. Discover how transformative growth accelerates impact.Meet the TeamThe Volatility Alpha Development team is the core quantitative and strategy group supporting Millennium’s global volatility business. The team builds and maintains systematic options datasets, back testing infrastructure, event-volatility models, and live systematic volatility-fitting frameworks that support portfolio managers across global volatility strategies.What You'll DoConduct quantitative research on market volatility, including volatility-surface fitting, systematic options P&L dataset generation, event-volatility analysis, alternative-data research, AI-based hypothesis testing, and backtesting-platform development. Research global systematic options markets, including single-stock versus index spreads and bespoke ETFs, to develop datasets and prototype strategies that support alpha portfolio manager investment processes.Combine financial intuition with statistical learning techniques to develop predictive models for use in the investment process.Partner with senior portfolio managers to integrate Volatility Alpha Development datasets into investment strategies and risk-management workflows.Contribute to prototype alpha-strategy development across the Volatility Alpha Development platform.What You BringMaster’s degree or PhD in physics, mathematics, statistics, engineering, operations research, or a related STEM discipline.At least three years of experience in investment management or a quantitative research environment.Strong programming skills in Python, R, MATLAB, or C++.Deep knowledge of financial markets, with particular expertise in options and derivatives.Experience applying machine learning, statistical modeling, and data-visualization techniques.Excellent analytical, problem-solving, and communication skills.