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.
Our full-time candidates have a strong interest in the financial services industry and aptitude for real-world problem solving. Positions are typically in New York, London, Tokyo, and Hong Kong. You will benefit from both on-the-job training and intensive formal classroom training. Through the diversity of the businesses it supports and the variety of functions that it is responsible for, the Quantitative Research group provides unique growth opportunities for you to develop your abilities and career.
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 an Associate in Quantitative Research, your responsibilities may include, but are not limited to:
- Developing mathematical models for pricing, hedging and risk measurement of derivatives securities
- Supporting trading activities by explaining model behavior, identifying major sources of risk in portfolios, carrying out scenario analyses, developing and delivering quantitative tools, and supporting analytics
- 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
- Implementing risk measurement and valuation models in software and systems
- Designing efficient numerical algorithms and implementing high-performance computing solutions
- Designing and developing software frameworks for analytics and their delivery to systems and applications
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) and be ready to articulate how your background will enhance your career at J.P. Morgan (you'll find out more tips in our Advice Center including advice for career changers).
We also have full-time 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.
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