Quantitative Derivatives & Risk Consultant

BIP US; Chicago (IL); Hybrid; USD 160,000 - 220,000; Full time

Benefits offered by this job

Medical Insurance

Dental Insurance

Vision Insurance

Discretionary bonus

401(k) matching

PTO (paid time off) 20 days

Remote/Hybrid work available

Job summary

Business Integration Partners (BIP) US is seeking an experienced Quantitative Derivatives & Risk Consultant to support complex derivatives, hedging, and risk management across front-office trading, risk, and technology teams in our Financial Services practice.

You will focus on equity derivatives, volatility products, and portfolio risk management, collaborating with traders and quantitative developers to enhance pricing models, validate analytics, and implement robust hedging strategies.

Qualifications

• 10+ years of experience within derivatives trading, quantitative finance, portfolio management, market risk, asset management, insurance, or a closely related financial markets environment.
• Deep understanding of equity derivatives and volatility products, including options, futures, variance swaps, volatility swaps, total return swaps, and related OTC derivatives.
• Strong knowledge of derivatives pricing, valuation, hedging, portfolio risk management, and quantitative modeling.
• Experience managing or analyzing derivatives portfolios and implementing hedge strategies within institutional trading, asset management, or insurance environments.
• Strong understanding of implied volatility, realized volatility, volatility surfaces, skew, Greeks, sensitivities, and option pricing dynamics.
• Experience partnering with quantitative developers or technology teams to develop or enhance derivatives models and analytical capabilities.
• Strong knowledge of market risk, portfolio risk, scenario analysis, stress testing, and hedge effectiveness.
• Ability to analyze complex quantitative problems and translate findings into actionable trading, risk, or technology recommendations.
• Strong stakeholder management and communication skills with the ability to operate across front-office, quantitative, risk, technology, and senior management teams.
• Advanced academic background in a quantitative discipline such as Physics, Mathematics, Financial Engineering, Quantitative Finance, Statistics, Engineering, or a related field.

Responsibilities

• Provide quantitative and product expertise across equity derivatives and volatility products, including equity index options, single-stock options, futures, variance swaps, volatility swaps, total return swaps, and other OTC derivatives.
• Analyze complex derivatives portfolios, identifying key market, volatility, basis, correlation, liquidity, and hedging risks.
• Evaluate and enhance derivatives pricing, valuation, risk, and hedging methodologies across trading and portfolio management environments.
• Design, assess, and optimize dynamic and semi-static hedging strategies for complex derivatives portfolios and structured exposures.
• Analyze implied and realized volatility, volatility surfaces, skew dynamics, term structures, option pricing behavior, and other quantitative characteristics of derivatives markets.
• Work closely with quantitative development teams to design, validate, and enhance derivatives models used for portfolio management, trading, valuation, and risk management.
• Translate complex quantitative models and research into practical applications for traders, portfolio managers, risk teams, and business stakeholders.
• Support model analysis, calibration, sensitivity calculations, scenario analysis, stress testing, and quantitative validation of derivatives exposures.
• Assess portfolio and hedge performance and identify drivers of P&L, hedge effectiveness, basis risk, and unexpected portfolio behavior.
• Support front-office and risk technology initiatives involving derivatives analytics, pricing models, risk calculations, market data, and quantitative infrastructure.
• Evaluate investment and hedging strategies within broader Asset Liability Management (ALM) frameworks where applicable.
• Partner with front-office, quantitative research, risk, technology, and business stakeholders to identify opportunities for improved analytics, controls, automation, and decision-making.
• Conduct quantitative research into derivatives pricing, volatility modeling, and risk management methodologies and translate findings into practical business applications.
• Develop clear documentation covering quantitative methodologies, model assumptions, portfolio risks, hedging strategies, implementation requirements, and analytical results.
• Communicate complex quantitative concepts effectively to both highly technical and non-technical stakeholders.

Skills

Derivatives trading

Quantitative finance

Portfolio management

Market risk

Asset management

Insurance

Quantitative modeling

Hedging

Python

MATLAB

Education

Physics/Mathematics/Financial Engineering

Tools

Python

MATLAB

Job description

Business Integration Partners (BIP) is Europe’s fastest growing digital consulting company and are on track to reach the Top 20 by 2030, with an expanding global footprint in the US (New York, Charlotte, Chicago, and Houston). Operating at the intersection of business and technology, we design, develop, and deliver sustainable solutions at pace and scale, creating greater value for our customers, employees, shareholders, and society.

BIP specializes in high-impact consulting services across multiple industries with 6,000 employees worldwide. Our Financial Services business serves Capital Markets, Insurance and Payments verticals, supplemented with Data & AI, Cybersecurity, Risk & Compliance, Change Management and Digital Transformation practices. We integrate deep industry expertise with business, technology, and quantitative disciplines to deliver high-impact results for our clients.

BIP is currently expanding its footprint in the United States, focusing on growing its Capital Markets and Financial Services lines. Our teams operate at the intersection of business strategy, technology, quantitative analytics, and data to help our clients drive smarter decisions, improve risk management, and stay ahead in a fast-evolving market environment.

Role Overview:

We are seeking an experienced Quantitative Derivatives & Risk Consultant to support complex derivatives, quantitative analytics, hedging, and risk management initiatives within our Financial Services practice.

This role will focus on equity derivatives, volatility products, portfolio risk management, hedging strategies, and quantitative modeling, working across front-office trading, quantitative research, risk, and technology functions.

The consultant will bring a combination of deep derivatives product knowledge, quantitative expertise, and practical trading and risk management experience. The individual will work closely with traders, quantitative developers, portfolio managers, risk teams, and senior stakeholders to evaluate derivative portfolios, enhance pricing and risk methodologies, improve hedging strategies, and support the implementation of quantitative analytics within front-office and risk platforms.

Key Responsibilities:

• Provide quantitative and product expertise across equity derivatives and volatility products, including equity index options, single-stock options, futures, variance swaps, volatility swaps, total return swaps, and other OTC derivatives.
• Analyze complex derivatives portfolios, identifying key market, volatility, basis, correlation, liquidity, and hedging risks.
• Evaluate and enhance derivatives pricing, valuation, risk, and hedging methodologies across trading and portfolio management environments.
• Design, assess, and optimize dynamic and semi-static hedging strategies for complex derivatives portfolios and structured exposures.
• Analyze implied and realized volatility, volatility surfaces, skew dynamics, term structures, option pricing behavior, and other quantitative characteristics of derivatives markets.
• Work closely with quantitative development teams to design, validate, and enhance derivatives models used for portfolio management, trading, valuation, and risk management.
• Translate complex quantitative models and research into practical applications for traders, portfolio managers, risk teams, and business stakeholders.
• Support model analysis, calibration, sensitivity calculations, scenario analysis, stress testing, and quantitative validation of derivatives exposures.
• Assess portfolio and hedge performance and identify drivers of P&L, hedge effectiveness, basis risk, and unexpected portfolio behavior.
• Support front-office and risk technology initiatives involving derivatives analytics, pricing models, risk calculations, market data, and quantitative infrastructure.
• Evaluate investment and hedging strategies within broader Asset Liability Management (ALM) frameworks where applicable.
• Partner with front-office, quantitative research, risk, technology, and business stakeholders to identify opportunities for improved analytics, controls, automation, and decision-making.
• Conduct quantitative research into derivatives pricing, volatility modeling, and risk management methodologies and translate findings into practical business applications.
• Develop clear documentation covering quantitative methodologies, model assumptions, portfolio risks, hedging strategies, implementation requirements, and analytical results.
• Communicate complex quantitative concepts effectively to both highly technical and non-technical stakeholders.

Required Qualifications:

• 10+ years of experience within derivatives trading, quantitative finance, portfolio management, market risk, asset management, insurance, or a closely related financial markets environment.
• Deep understanding of equity derivatives and volatility products, including options, futures, variance swaps, volatility swaps, total return swaps, and related OTC derivatives.
• Strong knowledge of derivatives pricing, valuation, hedging, portfolio risk management, and quantitative modeling.
• Experience managing or analyzing derivatives portfolios and implementing hedge strategies within institutional trading, asset management, or insurance environments.
• Strong understanding of implied volatility, realized volatility, volatility surfaces, skew, Greeks, sensitivities, and option pricing dynamics.
• Experience partnering with quantitative developers or technology teams to develop or enhance derivatives models and analytical capabilities.
• Strong knowledge of market risk, portfolio risk, scenario analysis, stress testing, and hedge effectiveness.
• Ability to analyze complex quantitative problems and translate findings into actionable trading, risk, or technology recommendations.
• Strong stakeholder management and communication skills with the ability to operate across front-office, quantitative, risk, technology, and senior management teams.
• Advanced academic background in a quantitative discipline such as Physics, Mathematics, Financial Engineering, Quantitative Finance, Statistics, Engineering, or a related field.

Preferred Qualifications:

• Experience leading or managing an equity derivatives trading, portfolio management, or quantitative team.
• Experience with both buy-side derivatives trading and institutional risk management.
• Strong understanding of Asset Liability Management and derivatives-based hedging programs within insurance or asset management organizations.
• Experience developing investment assumptions and ALM strategies for complex insurance, structured finance, or liability-driven portfolios.
• Published research or demonstrated subject matter expertise in derivatives pricing, volatility modeling, option theory, or quantitative finance.
• Experience with derivatives pricing and analytical tools using Python, MATLAB, Octave, or similar quantitative programming languages.
• Experience working with quantitative analytics platforms, derivatives pricing libraries, market data, portfolio management systems, and risk platforms.
• Ability to bridge the gap between quantitative theory and practical front-office implementation, including translating mathematical models into usable trading and risk solutions.

**The base salary range for this role is $160,000 - $220,000, with flexibility for exceptional candidates.**

• Choice of medical, dental, and vision insurance.
• Voluntary benefits.
• Short- and long-term disability.
• HSA and FSAs.
• Matching 401(k).
• Discretionary performance bonus.
• Employee referral bonus.
• Employee assistance program.
• 11 public holidays.
• 20 days PTO.
• PTO buy and sell program.
• Paid parental leave.
• Remote/hybrid work environment support.

It is BIP US Consulting policy to provide equal employment opportunities to all individuals based on job-related qualifications and ability to perform a job, without regard to age, gender, gender identity, sexual orientation, race, color, religion, creed, national origin, disability, genetic information, veteran status, citizenship, or marital status, and to maintain a non-discriminatory environment free from intimidation, harassment or bias based upon these grounds.

BIP US provides a reasonable range of compensation for our roles. Actual compensation is influenced by a wide array of factors including but not limited to skill set, education, level of experience, and knowledge.