Quantitative Trading & Research - Equity Derivatives Exotics - Associate

JPMorganChase’s Quantitative Trading and Research (QTR) Equity Derivatives team is seeking a junior quant to focus on exotic products. The role centers on driving and implementing analytics, optimization, and modeling for Equity Exotic trading, with an immediate emphasis on payoff development, risk management, and lifecycle modeling.

About the role

As an Associate on the Quantitative Equity Derivatives Exotics team, you will apply quantitative techniques—including machine learning—to deliver end-to-end solutions. Responsibilities span introducing a systematic framework for derivative products, strengthening risk and P&L control, facilitating lifecycle management, developing derivative pricing and lifecycle models, and identifying and monitoring associated model risks.

Responsibilities

• Develop a framework and key components for derivative products, including life cycling and model validation, using dependency-graph programming and Python.
• Model derivative products with a C++–Python hybrid stack to meet business requests.
• Drive payoff innovation through the product design framework and machine learning techniques.
• Streamline product review under the product design framework and provide clear model documentation to facilitate model approvals.
• Evaluate quantitative methodologies, including identifying and monitoring model risks associated with derivative valuation models.
• Support trading activities by explaining model behavior, identifying major sources of risk in portfolios, and carrying out scenario analyses.

Requirements

• Master or PhD in a quantitative field from a top university.
• Up to 3 years of experience in derivatives quantitative research.
• Strong programming skills in C++, Python, and numerical packages.
• Experience with statistical analysis and machine learning.
• Experience with derivatives pricing models and equity derivatives products.
• Solid understanding of Monte-Carlo simulation and finite-difference PDE in derivative pricing.
• Ability to communicate effectively with business stakeholders.
• Prior experience in a front-office quantitative research role.
• Experience or good knowledge in dependency-graph programming.

Preferred Qualifications

• Knowledge of risk management frameworks and regulatory requirements.

Benefits

• Comprehensive health care coverage.
• On-site health and wellness centers.
• Retirement savings plan.
• Backup childcare.
• Tuition reimbursement.
• Mental health support and financial coaching.

Pay

Competitive total rewards package including base salary determined by role, experience, skill set, and location. Eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in cash and/or forfeitable equity, awarded for individual achievements and contributions.