Quantitative Researcher (Fixed Income)

Trading Interview; Chicago, Northern (IL, KY); Hybrid; USD 175,000 - 250,000; Full time

Benefits offered by this job

Medical Insurance

Dental Insurance

Vision Insurance

Disability Insurance

Life Insurance

On-site meals

Tuition Reimbursement

401(k) with employer match

Paid Vacation/Sick/Parental leaves

Commuter benefits

Job summary

Old Mission Capital, a global quantitative proprietary trading firm, is seeking a talented Quantitative Researcher to join our Fixed Income operation in Chicago. You will build and improve risk and pricing models for corporate bonds and related debt instruments while evaluating risks and market impacts.

The role requires advanced quantitative training, strong programming skills (Python, VBA, or R), and experience with US corporate bonds.

Qualifications

• Advanced degree in a quantitative field (PhD preferred).
• Exceptional mathematical and programming skills (Python, VBA, or R).
• Strong quantitative, analytical, research-oriented and problem-solving abilities.
• Superior written and verbal communication in a fast-paced, collaborative environment.
• Experience with US corporate bonds and credit pricing is required.
• Familiarity with TCA, execution quality assessment, and execution algorithms is desirable.

Responsibilities

• Perform exploratory data analysis on bond data, quote data, and pricing data; generate trading signals and evaluate their application.
• Research and develop quantitative models to forecast bonds and commodities metrics; prototype, backtest, and improve models.
• Contribute to development and continuous assessment of trade execution.

Skills

Advanced degree in quantitative field

Python

VBA

R

Strong analytical/problem-solving

Excellent communication

Entrepreneurial mindset

US corporate bonds

Education

PhD in engineering/statistics/mathematics or hard science

Tools

Python

VBA

R

Job description

Old Mission is a global proprietary trading firm that leverages state-of-the-art technology and research to identify and execute profitable trading strategies across multiple asset classes around the world. Our offices in Chicago, New York, and London are all composed of naturally-curious individuals who thrive in a team environment and constantly strive for improvement.

Old Mission does not seek capital from outside investors, allowing us the flexibility to aggressively invest in our team members and keep them engaged in the firm’s growth.

About the Position

Old Mission Capital, a global quantitative proprietary trading firm, is currently hiring a talented Quantitative Researcher to join our growing Fixed Income operation. The ideal candidate will have experience trading fixed income assets, corporate bonds, and other debt instruments. This Quantitative Researcher will be familiar with building and improving the firm’s risk and pricing models, as well as understanding the risks in trading these assets.

Responsibilities

• Perform exploratory data analysis on various market datasets, including bond data, exchange quote data, and third-party pricing data, generate trading signals and evaluate how they might be applied.


• Research and develop quantitative models to forecast bonds and commodities’ various metrics, including price, bid-ask spread, liquidity, etc, prototype predictive models, and perform regressions and other machine learning analysis to validate, backtest, and improve quantitative models.


• Contribute to the development and continuous assessment of trade execution.

Required Skills

• Qualified candidates will have an advanced degree in a quantitative field (preferably a Ph.D. in engineering, statistics, mathematics or a hard science).


• Candidates need to have exceptionally high mathematical and programming skills (must be proficient in Python, VBA, or R).


• Strong quantitative, analytical, research-oriented and problem-solving skills.


• Superior communication, both written and verbal, and has the ability to handle multiple tasks in a time-sensitive, fast-paced, collaborative, collegial environment.


• Successful candidates will have a passion for the financial markets and will have an entrepreneurial mindset as the team is growing and this individual will have an immediate impact.


• Demonstrated experience in US corporate bonds is required.


• Qualified candidates will have previous experience in TCA, execution quality assessment, and execution algorithms with a focus on US Credit.


• Must have experience with credit pricing, credit curve models, and RFQ-based trading is desirable.


• Must have experience with Bayesian filtering/Hidden Markov Models is desirable.


• Intra-day credit curve modeling is a plus.

Benefits and Perks

• Fully paid Medical, Dental, Vision, Disability, and LIfe Insurance


• Fully stocked kitchen; free breakfast and lunch every day on-site


• Tuition Reimbursement Program


• 401(k) with employer match


• Paid Vacation, Sick, and Parental leaves


• Commuter and Flexible Spending Program

Base Salary Range

$175,000 - $250,000 - Salaries are based on numerous factors such as skills, experience, and education. Our compensation package also includes a discretionary bonus and a comprehensive benefits program for full-time employees.

Old Mission is not accepting unsolicited resumes from any staffing/search firms. All resumes submitted by staffing/search firms to any employee at Old Mission via-email, the Internet or directly without a valid signed search agreement will be deemed the sole property of Old Mission, and no fee will be paid in the event the candidate is hired by Old Mission.

Old Mission Capital is a quantitative market-making firm founded in 2008. It prices "thousands of financial instruments globally" and has "traded trillions of dollars of securities using proprietary systems and…