Quantitative Trading & Research – Equity Derivatives Exotics - Associate

Quantitative Trading and Research (QTR) – Equity Derivatives Exotics (Junior Quant)

The Quantitative Trading and Research (QTR) Equity Derivatives team is looking for a junior quant to focus on exotic products. The objective is to drive and implement analytics, optimization, and modeling for Equity Exotic trading, with immediate focus on payoff development, risk management, and lifecycle modeling.

Job Summary

As an Associate for the Quantitative Equity Derivatives Exotics team, you will use quantitative techniques, including machine learning, to deliver end-to-end solutions for the business. This includes introducing a systematic framework to develop derivative products, strengthen risk and P&L control, and facilitate lifecycle management; developing derivative pricing and lifecycle models; and identifying and monitoring associated model risks.

Job Responsibilities

• Develop a framework and key components to develop derivative products, including life cycling and model validation, using dependency-graph programming and Python.
• Model derivative products using C++/Python hybrid programming to meet business requests.
• Drive payoff innovation using the product design framework and machine learning techniques.
• Streamline product review under the product design framework and provide clear model documentation to facilitate model approvals.
• Evaluate quantitative methodologies, including identifying and monitoring model risks associated with derivative valuation models.
• Support trading activities by explaining model behavior, identifying major sources of risk in portfolios, and carrying out scenario analyses.

Required Qualifications, Capabilities, and Skills

• Master’s or PhD degree in a quantitative field from a top university.
• Up to 3 years of experience in derivatives quantitative research.
• Strong programming skills in C++, Python, and numerical packages.
• Experience with statistical analysis and machine learning.
• Experience with derivatives pricing models and equity derivatives products.
• Solid understanding of the application of Monte Carlo simulation and finite-difference PDE in derivative pricing.
• Ability to communicate effectively with business stakeholders.
• Prior experience in a front-office quantitative research role.
• Experience or strong knowledge of dependency-graph programming.

Preferred Qualifications, Capabilities, and Skills

• Knowledge of risk management frameworks and regulatory requirements.