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 make extensive use of 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, as well as 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 language.
- 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 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 good knowledge in dependency-graph programming.
Preferred qualifications, capabilities, and skills:
- Knowledge of risk management frameworks and regulatory requirements.
About Us
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 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 Monte Carlo simulation and finite-difference PDE methods 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
- Knowledge of risk management frameworks and regulatory requirements
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.
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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.
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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.
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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.
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