Senior Quantitative Derivatives & Risk Consultant

BIP US

Chicago (IL)

Hybrid

USD 160,000 - 220,000

Full time

12 days ago

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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.