Junior Python Developer
2 months ago
Junior Python Developer/Quant Analyst
6-12 months
London
Inside IR35
Flexible Hybrid
Objective
Global Banking is looking for a developer to implement and enhance a portfolio optimisation model and a suite of analytic tools to support the structuring, execution, and lifecycle maintenance of clients program of strategic risk-sharing transactions ("SRTs").
The existing model has been prototyped in R, with inputs generated from an Alteryx script. A core goal of the project is to encode this to production standard in Python, extend and improve where necessary.
The anticipated length of the project is 6-12 months, full time.
Candidate Profile/Requirements
We are looking for a motivated, results-oriented, organised self-starter with a problem-solving mindset, willing to learn how the business operates so as to be able to deliver effectively in a dynamic, deal-driven, front-office environment.
- Python proficiency is essential, knowledge of R and Alteryx is desirable, C++ a bonus
- Prior experience of working on or delivering production-standard projects is preferred
- Analytical background would be an advantage (e.g. maths, physics, engineering, computer science)
- Financial knowledge may be helpful but more important would be the ability to learn and adapt quickly
The role is expected to suit candidates with some experience (1-3y), but we are open to considering candidates outside this range if they are motivated and have the capability to deliver our requirements.
Business Rationale
SRTs are strategic transactions that span the Investment Bank ("IB") and hedge the credit risk arising from corporate lending and derivative trading activity. They enable the firm to grow revenues, improve return on capital, and offer more to clients while remaining within strict risk and resource limits. SRTs are especially relevant as the firm's core balance sheet and risk footprint have grown significantly. The hiring desk is responsible for the Investment Bank’s program of SRTs.
In a typical trade, the risk from hundreds of positions is pooled together and placed with sophisticated investors such as sovereign wealth funds, pension funds, and specialist hedge funds. The structures of these trades share similarities with synthetic CDO tranches. The notional of each trade can vary from $50m to more than $1bn. Generally, 5-10 such trades hedge thousands of line items of exposures.
The desk has developed an analytic framework for the simultaneous initial and ongoing selection of the portfolios that are referenced in these trades. This aims to maximise the utility of the program of trades as a whole, while ensuring that each transaction adheres to detailed eligibility criteria and portfolio guidelines negotiated with clients. Robustness and scalability are therefore key attributes that we are seeking to reinforce.
This role is advertised via Hays Talent Solutions
SM060924/1
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