JPMorgan Chase & Co.

Job Description

J.P. Morgan Global Credit Trading delivers premier, integrated financial services to a global clientele, offering financial assets and liquidity solutions for banks, insurance companies, finance companies, mutual funds, and hedge funds. Our traders, salespeople, and research analysts collaborate to generate innovative ideas and maintain our competitive edge in the market. The Credit business facilitates secondary markets in high-grade bonds/CDS, high-yield bonds/CDS, distressed bonds, leveraged finance, indices, options, correlation products, and other exotic structures.

The Credit QR team is responsible for developing and maintaining models for pricing, risk, and P&L calculations, tooling pre-trade analytics for trading as well as refining quoting and market-making algorithms for wide range of credit products. Alongside with hand-in-hand quantitative R&D with business stakeholders based on market themes, our responsibilities also encompass the entire model lifecycle, from new model specification, implementing models in various libraries and downstream systems, and going through review process to ensuring compliance with internal policies and industry regulations.

Job summary:

As a Vice President of Quantitative Research Credit team, your primary focus will be on driving and accelerating agenda of pricing model development, prototyping and delivering analytics to business stakeholders in Macro Credit space with agility and commercial acumen. This role involves high level of engagement with sales and trading with ownership and accountability of pre-trade tools, model output and PNL analysis. Product coverage includes wide range of flow credit derivatives with a mixture between linear (Credit Index, CDS) and non-linear (Index Options, and Index Tranches) with particular emphasis on non-linear products.

Job responsibilities

• Prototype and deliver pre-trade quantitative analytics upon market volatility, trading opportunity as well as client wallet, particularly for index options and tranches
• Modernize trading & risk systems with technology partners to achieve high performance and robust risk & PNL attribution while accelerating decommissioning of legacy analytical system
• Enhance pricing models to facilitate comprehensive scenario pricing and default analysis
• Collaborate with trading with ongoing brainstorming and agile R&D given market themes
• Drive the automation agenda by transforming manual processes into digital platforms
• Write technical model documentation compliant with internal and regulatory standards and engage with model control teams to facilitate timely and efficient reviews and approvals

Required qualifications, Capabilities, and skills:

• 3-7 years of experience as quantitative researcher / strategist in credit and fixed income business with outstanding analytical skills and structured approach to problem-solving
• Advanced degree in math, statistics, physics, financial engineering, or computer science
• Strong knowledge in financial mathematics, stochastic calculus (volatility model and correlation model as a big plus)
• Proficient in python or C++ with familiarity to collaborative software development process in a dynamic and demanding environment
• Team-work mentality with excellent oral and written communication skills with business stakeholders, technology partners and control functions
• Ability to work effectively in a high-pressure environment with result-driven mentality and attention to details

Preferred qualifications, capabilities, and skills:

• Experience with Neutral Networks (or alternative machine learning / deep learning models), or Large Language Model tuning

About Us

J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world’s most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.

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.

About the Team

J.P. Morgan’s Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.