Quantitative Research - Rates - Associate

Location: LONDON, LONDON, United Kingdom

Job Family: Associates

About the Role

Join JP Morgan Chase's Quantitative Research team in Rates as an Associate in our London office, where you'll play a pivotal role in shaping innovative solutions for one of the world's leading global financial services firms. As a key contributor to the Rates group within the Global Markets division, you will leverage your quantitative expertise to model complex interest rate products, including swaps, options, and futures, supporting our trading desks in navigating volatile fixed income markets. This position offers the chance to work on cutting-edge research that directly impacts billions in daily trading volume, collaborating with top-tier quants, traders, and technologists in a dynamic, high-stakes environment. At JP Morgan Chase, we value intellectual curiosity and technical excellence, providing the resources and platform to advance your career in quantitative finance. In this role, your primary focus will be developing sophisticated mathematical models to price, hedge, and risk-manage rates instruments, incorporating factors like inflation, central bank policies, and geopolitical events. You'll conduct empirical research using vast datasets from JP Morgan's proprietary sources, applying techniques from stochastic calculus and machine learning to uncover alpha-generating insights. Responsibilities extend to model validation, ensuring compliance with stringent regulations such as Dodd-Frank and EMIR, and integrating your work into our state-of-the-art trading platforms. You'll also partner with cross-functional teams to optimize algorithmic strategies, contributing to the firm's leadership in rates markets while gaining exposure to global opportunities within JP Morgan Chase. We seek passionate individuals who thrive in a collaborative culture that emphasizes innovation, integrity, and inclusion. As an Associate, you'll benefit from mentorship by senior leaders, access to advanced tools, and participation in firm-wide initiatives that drive sustainable growth in financial services. JP Morgan Chase is committed to fostering a diverse workforce and offers unparalleled professional development to help you excel. If you're ready to apply your quantitative skills to real-world challenges in rates research, this is your opportunity to make a lasting impact at a firm renowned for its stability and forward-thinking approach in the industry.

Key Responsibilities

• Develop and enhance quantitative models for pricing and risk management of interest rate derivatives and fixed income products
• Conduct research on rates market dynamics, including yield curves, volatility surfaces, and macroeconomic factors
• Collaborate with trading desks, risk management teams, and technology groups to implement models in production environments
• Perform backtesting, validation, and stress testing of quantitative models to ensure regulatory compliance and accuracy
• Analyze large datasets using advanced statistical techniques to identify trading opportunities in rates markets
• Contribute to the innovation of algorithmic trading strategies for JP Morgan's Global Markets division
• Support senior quants in presenting research findings to stakeholders and executive leadership
• Stay abreast of regulatory changes (e.g., LIBOR transition, Basel III) and incorporate them into modeling frameworks
• Mentor junior associates and interns in quantitative techniques specific to rates products
• Participate in cross-functional projects to integrate AI/ML approaches into rates quantitative research

Required Qualifications

• Master's or PhD degree in Quantitative Finance, Mathematics, Physics, Computer Science, or a related quantitative field
• At least 3 years of experience in quantitative research, modeling, or risk management within the financial services industry
• Strong proficiency in programming languages such as Python, C++, or R for developing quantitative models
• In-depth knowledge of interest rate derivatives, fixed income markets, and rates trading strategies
• Experience with statistical modeling, stochastic calculus, and numerical methods applied to financial instruments
• Ability to work in a fast-paced, collaborative environment in London
• Eligibility to work in the UK without sponsorship

Preferred Qualifications

• PhD in a quantitative discipline with a focus on financial mathematics
• Prior experience at a bulge-bracket investment bank like JP Morgan Chase in rates quantitative research
• Familiarity with JP Morgan's proprietary trading systems or similar platforms
• Publications or contributions to academic/research papers on rates modeling
• CFA or FRM certification

Required Skills

• Advanced quantitative modeling and stochastic processes
• Proficiency in Python for financial data analysis and model implementation
• Expertise in C++ for high-performance computing in trading systems
• Knowledge of fixed income instruments and derivatives pricing
• Statistical analysis and machine learning techniques
• Risk management frameworks for rates portfolios
• Data visualization and reporting tools (e.g., Tableau, MATLAB)
• Strong problem-solving and analytical thinking
• Excellent communication skills for technical and non-technical audiences
• Team collaboration and project management abilities
• Attention to detail in model validation and testing
• Adaptability to evolving market conditions and regulations
• Research acumen in quantitative finance literature
• Numerical methods for solving PDEs in finance
• Soft skills in stakeholder engagement and presentation

Benefits

• Competitive base salary and performance-based bonus structure aligned with JP Morgan's compensation philosophy
• Comprehensive health, dental, and vision insurance coverage for associates and dependents
• Generous retirement savings plan with employer matching contributions
• Paid time off including vacation, sick leave, and parental leave policies
• Professional development opportunities through JP Morgan's internal training programs and tuition reimbursement
• Employee stock purchase plan and access to financial wellness resources
• Hybrid work model with flexibility for London-based roles, including wellness stipends
• Global mobility programs and networking events within JP Morgan Chase's international network

JP Morgan Chase is an equal opportunity employer.