Quantitative Research
Quantitative Research is an expert modeling group at J.P. Morgan and an unchallenged leader in financial engineering, derivatives modeling, and risk management.
In our Quantitative Research summer internship, you will work on a unique and concrete project under the guidance of experienced quantitative researchers. You will have opportunities to learn the models, products, and technology associated with a particular trading business or risk function. You will also have opportunities to participate in networking or training activities designed to give you a wide exposure to Quantitative Research at J.P. Morgan. If your summer experience is a success, you may be offered an opportunity to work full-time after graduation or part-time during the school year.
About Quantitative Research
With more than 300 analysts, Quantitative Research partners with traders, marketers and risk managers across all products and regions. Quantitative skills are a core capability of J.P. Morgan, contributing critically to product innovation, effective risk management and appropriate financial and risk controls. The team's mission is to develop and maintain sophisticated mathematical models, cutting-edge methodologies and infrastructure to value and hedge financial transactions ranging from vanilla flow products to complex derivative deals. We also develop portfolio risk-measurement methodologies and quantify credit and market risk exposures and economic capital.
Responsibility from the start
As a Summer Associate in Quantitative Research, your responsibilities may include, but are not limited to:
- Developing a new valuation model, risk measurement, or financial analytic that will impact a particular trading business or corporate risk calculation
- Evaluating quantitative methodologies - identifying and monitoring model risk associated with derivative valuation models
- Assessing the appropriateness of quantitative models and their limitations for valuation and risk management
- Designing efficient numerical algorithms and implementing high performance computing solutions
- Designing and developing software frameworks to support financial analytics
What we look for
The ideal candidate will have:
- Enrolled in a PhD or equivalent degree program in math, sciences, engineering or computer science
- Exceptional analytical, quantitative and problem-solving skills
- Mastered advanced mathematics arising in financial modeling (i.e., probability theory, stochastic calculus, partial differential equations, numerical analysis) or should have exceptional software design and development skills using C++
- Knowledge of options pricing theory is a plus but is not required
If you don't have a strong financial or business background, be sure you can tell your story; be able to demonstrate your quantitative aptitude both academically and practically (former jobs, for example). (You'll find out more tips in our Advice Center including advice for career changers).
We also offer summer opportunities in our Proprietary Positioning Business
Proprietary Positioning Business (PPB) is an internal risk-taking group at J.P. Morgan that identifies and capitalizes on opportunities across a broad range of asset classes, instruments, and products including equities, currencies, commodities, interest rates and related derivatives and structured products in major global markets. The business is extremely active in seeking opportunities and expanding into new products and markets.
How to apply
For more information, read before you apply. It will give you detailed information and direct you to useful links related to your application. You may also want to visit our interview process, and check with your campus careers office or our campus schedule to see when we'll be visiting a school or city near you.
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