Location
London

Hours
Full Time

Salary
Competitive, commensurate with experience

About the Role
The Fixed Income Quantitative Trading & Research (QTR) team develops and maintains sophisticated mathematical models, cutting-edge methodologies, and infrastructure used to value and hedge fixed income transactions ranging from vanilla flow products to complex exotic derivatives. The team also enhances algorithmic trading strategies and delivers advanced electronic solutions to clients worldwide. This role spans the full quantitative stack including arbitrage-free pricing, term-structure and yield-curve analytics, and analytical computation of risk and sensitivities essential for hedging.

As a Quantitative Researcher / Developer, Associate, you will provide advanced modelling solutions to the Fixed Income business by combining deep mathematical rigour—stochastic calculus, PDEs, numerical methods, and term structure theory—with strong software engineering skills. You will deliver best-in-class pricing, risk, and hedging models to the trading desk.

QTR is a leading quantitative modelling group at J.P. Morgan, known for financial engineering, data analytics, statistical modelling, and portfolio management. The global team partners with traders, marketers, and risk managers across products and regions, contributing to product innovation, valuation and risk management, electronic trading, market making, and robust financial risk controls.

Key responsibilities include developing advanced analytical, pricing, and risk-management models grounded in rigorous mathematics; designing and maintaining term-structure and multi-curve frameworks; implementing models in quant libraries and trading/risk platforms with rigorous testing and documentation; and collaborating closely with traders and the wider quant team to solve problems and identify opportunities.

Experience
Advanced degree (MSc or PhD) in mathematics, physics, engineering, statistics, or a closely related quantitative discipline with strong mathematical skills.
Professional C++ development experience.
Strong command of stochastic calculus, probability theory, numerical analysis, PDE and Monte Carlo techniques applied to derivatives pricing and risk.
Solid understanding of fixed income analytics and risk, including term-structure and yield-curve construction, multi-curve and CSA discounting, sensitivities, and hedging.
Outstanding analytical and problem-solving abilities.
Strong written and oral communication skills with the ability to clearly explain mathematical concepts.
Strong coding and software engineering skills with a passion for technical excellence.

About you
Passionate about applied mathematics and quantitative finance.
Curious, motivated, and ready to make an impact.
Collaborative team player who works well with traders and other quantitative professionals.
Committed to delivering high-quality, robust solutions in a fast-paced environment.

Qualifications
Preferred qualifications include deep understanding of derivatives pricing theory and standard fixed income models (short-rate, HJM, LMM and beyond).
Experience with analytical/adjoint differentiation (AAD) or other efficient risk-computation techniques.
Additional experience with Python or Rust.
Prior experience in a front-office derivatives trading environment.
Experience with SecDB / Beacon or similar quant platforms is advantageous.