Associate, Trader - #293

About the role

Capstone Investment Advisors, LLC (“Capstone”) is a global asset manager dedicated to exploring alpha opportunities in derivatives and complementary strategies that persist across market cycles. With approximately $12.5 billion of AUM (as of May 1, 2026) and 306 employees, Capstone is headquartered in New York with offices in London, Amsterdam, Stamford, Los Angeles, Boston, Tokyo, Milan, Texas, and Maryland. Since 2004, Capstone has sought to anticipate and harness the complexities of world markets through strategic insight, market-leading expertise, and advanced technology, creating unique opportunities for clients, team, and industry.

Responsibilities and Impact

• Implement systematic strategies including machine learning algorithms.
• Design and build statistical models, including PCA-based factor risk decomposition, regression, and time-series models.
• Develop structural models to quantify the reaction functions of major equity and fixed income index fund participants under funding, liquidity, regulatory, and balance sheet constraints.
• Create foundational risk analytics frameworks, including duration, convexity-gap, convexity-hedging feedback-loop, and OAS/extension-risk frameworks, to predict and anticipate rebalancing flows in Treasuries and Swaps.
• Price IRS and Swaptions, including discounting and forward curve construction and volatility surface calibration to quantify PV01, KRD, Vega, and convexity of long-dated rate and volatility exposures to inform relative value strategies.
• Perform Monte Carlo-based scenario generation to design and evaluate customized stress scenarios for mortgage-backed securities (MBS) basis risk (OAS), rates, and volume exposures against Treasury benchmarks.
• Utilize regression-based style analysis to create synthetic tracking portfolios.
• Build and deploy hybrid LLM-based execution algorithms using Python and C++ to monitor and execute trades across multi-currency, cross-asset portfolios.
• Develop data pipelines and SQL architecture to run VaR and Tail Risk simulations on multi-asset portfolios.

Requirements

• Master’s degree in Financial Engineering or related field or equivalent.
• Two (2) years of experience designing and building statistical models.

Benefits

• Training and development opportunities.
• Robust Wellness Resources: Physical, Mental and Financial.
• Time-Off, Retirement and Commuter Benefits.
• Gym Reimbursement and other Discounts.

Pay

The applicable base annual salary range for this role is $150,000–$160,000. The base pay offered will be determined on factors such as experience, skills, training, location, certifications, education, and any applicable minimum wage requirements. Decisions will be made on a case-by-case basis. In addition to the base salary, this position may be eligible for performance-based incentives and an annual incentive plan.