The Quantitative Trading & Research team builds the valuation models, analytical tools, and risk infrastructure
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 a Vice President in the Energy Quantitative Research & Trading team in Houston, 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.
3y+ 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.
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
Skills Required
- Master's degree or PhD in a quantitative field, or equivalent experience
- 3 or more years of hands-on quantitative experience supporting physical Power and/or Natural Gas trading
- Experience with physical products traded and their fundamental market drivers
- Experience building valuation models for physical assets and optionality, including generation, storage, or transport capacity
- Working knowledge of ISO/RTO Power markets, Gas transport and storage, and locational basis
- Knowledge of stochastic calculus, probability, optimization, and Monte Carlo methods
- Programming skills to implement quantitative models to production standards, preferably in Python
- Commercial mindset and experience delivering models into production use by a trading desk
- Strong communication skills for working directly with traders
- Experience developing or back-testing systematic commodities trading strategies
- Experience with renewables and intermittent-generation modeling challenges
JPMorganChase Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about JPMorganChase and has not been reviewed or approved by JPMorganChase.
-
Healthcare Strength — Medical, dental, vision, and mental-health coverage are broad, with wellness incentives, on-site or virtual care, and an EAP offering coaching and counseling. Plan materials emphasize accessible options, including multiple medical choices and tools to manage costs.
-
Parental & Family Support — Paid parental leave extends up to 16 weeks for all parents, supplemented by paid Critical Caregiver Leave. Family resources include backup childcare via Bright Horizons, lactation support and milk-shipping, family-building assistance, and even a free five-month SNOO rental for newborns.
-
Retirement Support — Retirement programs include a 401(k) with an annual company match and automatic pay credits for most employees, with a legacy pension available to earlier hires. An Employee Stock Purchase Plan at a 5% discount further supports long-term savings.
JPMorganChase Insights
What We Do
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.7 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Technology fuels every aspect of our company and is at the heart of everything we do. With over 50,000 technologists globally and an annual tech spend of $12 billion, we are dedicated to improving the design, analytics, development, coding, testing and application programming that goes into creating high quality software and new products. Learn more about technology at our firm, explore resources from our Distinguished Engineers, AI & ML researchers, and other experts; access the latest episode of our TechTrends podcast, and more at www.jpmorgan.com/technology. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com. ©2023 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase is an Equal Opportunity Employer, including Disability/Veterans.
Why Work With Us
Our technologists work on a diverse range of solutions that include strategic technology initiatives, big data, mobile, electronic payments, machine learning, cybersecurity, enterprise cloud development, and other state-of-the-art technologies.
Gallery
