Quantitative Trading & Research - Energy - Executive Director

J.P. Morgan; New York (NY); On-site; USD 250,000 - 420,000; Full time

Job summary

JPMorgan Chase & Co. in New York seeks an Executive Director to lead our Energy Quantitative Trading & Research efforts, partnering with North American Power and Gas desks to grow the physical business.

You will own the modelling agenda for a fast-growing franchise: price physical structures, capture optionality in generation, storage and transport, and deliver end-to-end production-ready tools for traders.

Qualifications

• Advanced degree in a quantitative field or equivalent experience.
• 5+ years of hands-on quant experience in physical Power and/or Natural Gas trading.
• Experience building valuation models for physical assets and optionality.

Responsibilities

• Own pricing and risk models for physical and financial Power and Gas products end to end, from research and design through production implementation, governance, and documentation.
• Model the drivers of physical value: generation and load fundamentals, transport and transmission constraints, storage and flexibility, locational basis, and shape.
• Partner with trading and sales to create new commercial opportunities and support the desk as it enters new physical markets.
• Build the tools the front office runs on: pricing workflows, calibration utilities, and back testing frameworks.
• Contribute to the team's systematic trading research, including signal development and back testing.
• Lead projects and priorities, and support front office and control functions on the models and tools the team builds.

Skills

Python programming

Stochastic calculus

Optimization

Monte Carlo methods

Communication with traders

Production deployment

Education

Master's or PhD in a quantitative field

Tools

Python

Risk modeling frameworks

Job description

The Quantitative Trading & Research team builds the valuation models, analytical tools, and risk infrastructure behind J.P. Morgan's global Energy trading business

Job Description:

The Quantitative Trading & Research team builds the valuation models, analytical tools, and risk infrastructure behind J.P. Morgan's global Energy trading business. As the franchise expands into physical Power and Natural Gas, the team is building out the modelling capability to support it, from generation and load fundamentals to physical asset and transport optionality, alongside a growing systematic trading research effort. We work directly with Trading, Structuring, Sales, and Technology to price complex products, manage risk, and move quickly on new commercial opportunities.

Job summary:

As an Executive Directorin the Energy Quantitative Trading & Research team in New York, you will be a senior quantitative partner to the North American Power and Gas trading desks, focused on the growth of our physical business.

This is a build role, not a maintenance one. You will own the modelling agenda for a fast-growing physical franchise: pricing physical structures, capturing the optionality in generation, storage and transport, and building the tools the desk trades on. Models are owned end to end here, from research and design through to production. You will also have the opportunity to contribute to our systematic trading research across Energy markets.

Job responsibilities:

• Own pricing and risk models for physical and financial Power and Gas products end to end, from research and design through production implementation, governance, and documentation.
• Model the drivers of physical value: generation and load fundamentals, transport and transmission constraints, storage and flexibility, locational basis, and shape.
• Partner with trading and sales to create new commercial opportunities and support the desk as it enters new physical markets.
• Build the tools the front office runs on: pricing workflows, calibration utilities, and back testing frameworks.
• Contribute to the team's systematic trading research, including signal development and back testing.
• Lead projects and priorities, and support front office and control functions on the models and tools the team builds.

Required qualifications, capabilities, and skills:

• Advanced degree (master's or PhD) in a quantitative field, or equivalent experience.
• 5y+ hands-on experience as a quant supporting physical Power and/or Natural Gas trading, including the physical products traded and the fundamentals that drive them, gained in a front office or equivalent commercial setting.
• Experience building valuation models for physical assets and optionality: generation, storage, or transport capacity.
• Working knowledge of ISO/RTO Power markets, Gas transport and storage, and locational basis.
• Strong grounding in the mathematics behind valuation models (stochastic calculus, probability, optimization, Monte Carlo) and the programming skills to implement them to production standard, preferably in Python.
• Commercially minded, with a track record of delivering models into production use by a trading desk, and the communication skills to work directly with traders.

Preferred qualifications, capabilities, and skills:

• Developing or back testing systematic trading strategies in commodities.
• Renewables and the modelling challenges introduced by intermittent generation.

JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.

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.

JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans

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. The Quantitative Trading & Research team builds the valuation models, analytical tools, and risk infrastructure