About J.P. Morgan
J.P. Morgan is a leader in financial services, working in collaboration across the globe to deliver the best solutions and advice to meet our clients’ needs, anywhere in the world. We operate in 150 countries, and hold leadership positions across our businesses. We have an exceptional team of employees who work hard to do the right thing for our clients and the firm, every day. This is why we are the most respected financial institution in the world – and why we can offer you an outstanding career.
J.P. Morgan has the leading Global Spread business in terms of volume traded, issuers traded and investor relationships. The Spread business covers Credit, SPG, 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. The Securitized Products Group (“SPG”) engages in origination, syndicate, sales & trading, financing, and principal investments activities. Asset classes include: mortgage-backed securities (commercial, residential, agency and non-agency), mortgage loans, consumer asset-backed securities and receivables (auto, credit card, student, equipment loans).
The Credit QR team is responsible for developing and maintaining models for valuation, risk, PL calculations, as well as quoting and market making algorithms and analysis tools for the Global Spread business. The responsibilities of the team span the full range from new model specification, going through model approval, implementation of model in library, to integration into risk and PL systems.
The opportunity is to join our New York or London team as an associate with a focus on risk and PL calculations as well as the framework which supports them. Candidates directly from university will be considered.
Key responsibilities could include:
Communicating with end users and colleagues in QR or technology about risk and PL requirements as well as explaining and supporting the calculations.
Implementing calculations in our framework with an eye towards improving the framework and allowing non-specialists to build custom reports.
Analyzing and improving performance.
The role requires a combination of strong programming skills and mathematical literacy. Candidates should enjoy coding and have opinions about what constitutes good and bad code which they are able to defend. Candidates should be able to work with the mathematical models used in the pricing and risk management of credit products such as bonds, loans, and credit default swaps. A Ph.D. in a numerate subject from a top academic institution is a plus, but not an absolute requirement. Discussing things in quantitative/mathematical terms should come naturally. Excellent communication skills are required in our interaction with trading, technology, and control functions.
Strong interest in programming and design.
Experience with at least one scripting language and one compiled programming language.
Mathematical and financial modeling.
Ability to work in a high-pressure environment.
Pro-active attitude. Should have a natural interest in learning about our business, models, and infrastructure.
Parallel/distributed computing experience a plus.