FAQs
What is the main purpose of the Quantitative Researcher role on the Equity Vol desk?
The main purpose of the Quantitative Researcher role is to collaborate with the QR team to develop and maintain pricing, analytics, back testing, and risk management models/tools that will impact trading decisions. The role entails utilizing historical data and numerical modeling to inform live trading ideas for a global, risk-taking portfolio.
What qualifications are required for this Quantitative Researcher position?
This position requires a Master's or PhD in a relevant quantitative field such as pure or applied mathematics, physics, operations research, statistics, etc. Additionally, candidates should have 2-5 years of experience with quantitative options modeling, a deep understanding of options pricing and risk management, exceptional mathematical ability (especially in stochastic calculus and econometrics), and proficiency in programming languages like Python/C++ as well as statistical packages such as R and Matlab.
What skills are essential for success in this role?
Essential skills include the ability to explain complex mathematical concepts intuitively to traders, a can-do attitude with an iterative mindset for problem-solving, and the capacity to work independently on complex deliverables while thinking critically and challenging consensus.
What is the work environment and culture at DRW?
DRW promotes a workplace culture that values autonomy, respect, curiosity, and open-mindedness. The firm operates with high expectations for integrity, innovation, and a willingness to challenge conventional ideas, creating an environment conducive to professional growth and adaptability.
How does this role involve collaboration with traders?
The Quantitative Researcher will partner with traders in real-time, incorporating their feedback into the research process. This collaboration is essential to ensure that models and tools developed are aligned with live trading needs and strategies.
Will there be opportunities for mentoring or participating in programs for interns and graduates?
Yes, the role includes participating in the Intern and Grad hiring programs for Quant Research, providing opportunities to mentor and guide the next generation of quantitative researchers.
What kind of projects will the Quantitative Researcher work on?
The Quantitative Researcher will work on sophisticated pricing, analytics, back-testing models, and risk management tools that will directly influence trading decisions, with a focus on achieving practical results quickly.
Where is DRW headquartered and what markets do they operate in?
DRW is headquartered in Chicago and operates in a variety of asset classes including Fixed Income, ETFs, Equities, FX, Commodities, and Energy across all major global markets, with additional involvement in non-traditional strategies such as real estate, venture capital, and cryptoassets.