Quantitative Research - Credit - Vice President

JP Morgan

Location: Greater London

Job Type: Full time


Job Summary:

If you are passionate, curious, and ready to make an impact, we are looking for you.

J.P. Morgan has the leading Global Spread business in terms of volume traded, issuers traded and investor relationships. The Spread business covers Credit, Securitized Products Group, and Public Finance Markets. J.P. Morgan Global Spread Trading offers first-class, highly integrated financial services to a global client base and provides financial assets and liquidity for banks, insurance companies, finance companies, mutual funds and hedge funds. Traders, salespeople and research analysts work collectively to generate ideas. The Credit business make secondary markets in high grade bonds/CDS, high yield bonds/CDS, distressed bonds, indices, options, correlation products, and more exotic structures

We are looking for experienced Quant to join the Credit Quantitative Research team which will focus on covering the High Touch Credit business. The opportunity is to join our London team, with a focus on pricing models, delivery of analytics and ensuring that the QR team is providing an effective toolkit to high-touch trading so that they can preserve their dominant position in the market. The role will span all aspects of QR coverage, but there will be particular emphasis on the delivery of “added value” analytics, i.e. tools that can move the needle in terms of added profitability or increased market share.

Job responsibilities:

  • Identifying areas where we can positively contribute to improve the quality of the market making activity from the high-touch desk. This means: proposing relative value indicators, help them identifying efficient hedging strategies, help with their price formation logic
  • Liaising with trading in EMEA (London and Paris), and especially with individual operators in order to ensure that their needs are properly captured in our book of work
  • Explaining model behaviour, carrying out scenario analyses, developing and delivering quantitative tools, and supporting analytics
  • Ensure that all the ideas are documented, and either directly implement the solutions we propose or liaise with the broader team in order to achieve this
  • Writing model documentation compliant with internal and regulatory standards
  • Working with model control teams to facilitate timely and efficient review and approval of models
  • The role will be operating in a very dynamic environment which can be occasionally undergo some pressure due to situations developing in the market

Required qualifications, capabilities, and skills:

  • An advanced degree in math, statistics, physics, financial engineering, computer science
  • You demonstrate a solid experience (ideally 5+years) supporting a credit market making desk or the same amount of time partially spent on sell-side and buy-side firm
  • You demonstrate a combination of a good knowledge of the credit business, a very structured mathematical approach to problem solving, as well as knowledge about the software development process
  • You interact a lot with other sub-teams within Credit QR, and it could be framed as directly part of the Credit Data & Algo team or it can be a separate position within Credit QR
  • You demonstrate a prior knowledge of quantitative modelling and risk neutral pricing as the role is expected to deal with derivative pricing as well as securities
  • You bring exceptional analytical, quantitative and problem-solving skills
  • You demonstrate a knowledge of credit products and models
  • You are proficient in software design and data science, preferably with some C++ and Python knowledge and experience
  • You demonstrate prior experience and knowledge with corporate bonds, ETFs, vanilla credit derivatives, index options and algo pricing techniques
  • You demonstrate a strong interest in good software design principles

Preferred qualifications, capabilities, and skills:

  • A Ph.D. in a numerate subject from a top academic institution is a plus, but not an absolute requirement
  • Excellent oral communication skills are required in our interaction with trading, technology, and control functions
  • Excellent written communication skills are also required for meeting the high standards of the model documentation

Beyond that, we’re interested in the things that make you unique: personal qualities, outside interests and achievements beyond academia and profession that demonstrate the kind of person you are and the differences you could bring to the team.

You’ve got this!