CIB QR - Quantitative Research - Credit Securities & Financing – Associate or Vice President - New York, NY
J.P. Morgan is a leader in financial services, working in collaboration across the globe to deliver the best solutions and advice to meet our clients' needs, anywhere in the world. We operate in 150 countries, and hold leadership positions across our businesses. We have an exceptional team of employees who work hard to do the right thing for our clients and the firm, every day. This is why we are the most respected financial institution in the world - and why we can offer you an outstanding career.
This position is a Quant profile to support the corporate bond business globally, sitting in New York. Our business
J.P. Morgan has the leading Global Spread business in terms of volume traded, issuers traded and investor relationships. The Spread business covers Credit, SPG, and Public Finance Markets. J.P. Morgan Global Spread Trading offers first-class, highly integrated financial services to a global client base and provides financial assets and liquidity for banks, insurance companies, finance companies, mutual funds and hedge funds. Traders, salespeople and research analysts work collectively to generate ideas. The Credit business make secondary markets in high grade bonds/CDS, high yield bonds/CDS, distressed bonds, indices, options, correlation products, and more exotic structures. The Securitized Products Group ("SPG") engages in origination, syndicate, sales & trading, financing, and principal investments activities. Asset classes include: mortgage-backed securities (commercial, residential, agency and non-agency), mortgage loans, consumer asset-backed securities and receivables (auto, credit card, student, equipment loans). Our team
The Credit QR team is responsible for developing and maintaining models for valuation, risk, PL calculations, as well as quoting and market making algorithms and analysis tools for the Global Spread business. The responsibilities of the team span the full range from new model specification, going through model approval, ensuring compliance with internal policies and industry regulations, implementation of model in library, to integration into risk and PL systems. Opportunity
The opportunity is to join our New York team as an Assoc/VP depending on experience, with a focus on pricing models, model evaluation and infrastructure for the corporate bond and credit financing business. The role is spanning all aspects of corporate bond QR coverage, from the mathematical modelling to the development of model evaluation platforms in our risk system. Candidates directly from university will be considered. Key responsibilities could include:
• Developing models for the pricing and risk management of corporate bonds and corporate bond derivatives (e.g. bond options, total return swaps, asset swaps), including investigating improvements to existing models
• Writing model documentation compliant with internal and regulatory standards
• Working with model control teams to facilitate timely and efficient review and approval of models
• Liaising with business functions as well as other quantitative research and control teams
• Explaining model behavior, carrying out scenario analyses, developing and delivering quantitative tools, and supporting analytics Requirements:
The role requires the combination of very strong software development skills, a very structured mathematical approach to problem solving, business overview, and the ability to work in a dynamic environment. Prior knowledge of quantitative modeling and risk neutral pricing is a plus, but not an absolute requirement. Excellent oral communication skills are required in our interaction with trading, technology, and control functions. Excellent written communication skills are also required for meeting the high standards of the model documentation. A strong interest in good software design principles is a requirement as well. A Ph.D. in a numerate subject from a top academic institution is a plus, but not an absolute requirement. Essential skills:
• An advanced degree in math, statistics, physics, financial engineering, computer science or other quantitative fields
• Exceptional analytical, quantitative and problem-solving skills
• Excellent written and oral communication and interpersonal skills
• Knowledge of fixed income markets, in particular credit products and models, is a plus, but is not a strict requirement.
• Strong software design and development skills, preferably with some C++ and Python knowledge and experience
• Pro-active attitude. Should have a natural interest to learn about our business, models, and infrastructure.
• Ability to work in a high-pressure environment
• Attention to detail and focus on quality of deliverables
•Ideal candidates for these positions would be a graduate/post-graduate from a premier college or institute. A computer science or mathematics background will be most suitable.
J.P. Morgan's Global Quants Group provides a challenging work environment and excellent opportunities to learn and grow both at the Quants Group and in the Firm's global network.