Location: Europe

A high-performing, research-led, collaborative, equities stat arb team in London is hiring a Quant Researcher to drive alpha and signal generation. This is a rare chance to join a lean pod where researchers have real ownership, strong engineering support around them, and a clear mandate across cash equities.

Scope:

• Research, design, and validate alpha signals for cash equities stat arb strategies
• Build robust feature sets from market, fundamental, and alternative datasets
• Run disciplined backtesting and statistical validation to avoid overfitting
• Translate research into production-ready signals in collaboration with engineering
• Monitor live performance and iterate on signals as market regimes shift
• Contribute to idea generation and the team’s evolving research framework

Ideal profile:

• 2 to 5 years of experience in systematic equity research.
• Strong statistical intuition and a rigorous research process (hypothesis, testing, validation)
• Solid programming skills (Python required; familiarity with research-to-production workflows is a plus)
• Experience working with equities data and market microstructure awareness preferred
• Candidates from prop trading environments are interesting, but top long-only / fundamental researchers with a systematic mindset are also of interest.
• Comfort working in a small, high-accountability team where your work has visible impact

Nice to have

• Single-stock research exposure with a clear, testable signal mindset
• Experience with factor research, statistical arbitrage, or systematic equities strategies
• Familiarity with portfolio construction concepts and risk-aware signal development
• CQF qualification.

Logistics

• London-based role, on-site
• No remote / overseas-based working
• Visa sponsorship available
• Hiring timeline: next 1 to 2 months

If you’re a mid-level researcher who wants genuine signal ownership and a direct line between your work and PnL, this is the kind of seat that doesn’t come up often.

A hedge fund client of ours is hiring a senior Commodities Portfolio Manager to lead the Commodities sleeve and run risk independently with full PnL accountability. This is a true risk taking seat. The mandate is focused on cross-commodity relationship trading expressed in paper markets. Candidates must be fully comfortable running a book primarily via listed and cleared instruments.

The PnL engine should come from pricing relationships across commodities and closely linked markets, with disciplined control of outright and curve exposure. The platform is not hiring a single commodity specialist running a vertical book, and it is not hiring a directional macro commodities PM.

Strategies should be implemented through futures, swaps, and options (and related cleared structures), with a focus on cross-market dislocations that do not rely on persistent outright beta. Directional risk is permitted but capped: up to 30% of the book’s risk budget may be allocated to outright or curve driven views. The remaining risk is expected to be deployed in cross commodity relationship structures

Responsibilities

• Own commodities PnL end to end: idea generation, trade construction, sizing, hedging, and day to day risk management.
• Build and run a diversified cross-commodity book with strict limits on outright exposure and curve sensitivity.
• Develop repeatable processes for signal formation, scenario analysis, and performance monitoring through different regimes.
• Apply disciplined risk management: exposure transparency, stress testing, and drawdown control.
• Partner with execution to optimise implementation costs, slippage, and risk transfer in liquid paper markets.
• Set the standards for portfolio construction and risk discipline within the Commodities sleeve.

Not a fit

• Candidates whose background is primarily physical commodities trading, logistics, or supply chain.
• Single vertical specialists where most risk and PnL sits in one complex (metals only, crude only, gas only).
• Directional macro, trend, or carry led commodities books.
• Approaches where returns are primarily explained by outright moves or sustained curve positioning.

Requirements

• Proven track record running a commodities book in paper markets, with cross-commodity relationships as a primary driver of returns.
• Strong understanding of how commodities are priced across markets and how relationships behave under stress.
• Ability to operate as an independent risk taker with full accountability for outcomes.
• Strong implementation and execution awareness in liquid derivatives.
• CQF if quant.

This role is an exciting and challenging position with excellent development opportunities across T&S and the wider Shell group. We require a creative individual with excellent analytical and interpersonal skills, working under tight deadlines and pressures requiring dynamic expectation management of stakeholders. The candidate will be needed to continue delivering to an excellent standard, with clear focus on the bottom line and priorities in hand. The successful candidate will show the will and the ability to contribute to this objective and to constantly improve personal and team performance.

The main responsibility of the role is to collaborate with the power business and support the growth of the power portfolio in Europe, while being accountable for the methodology of the valuation and risk assessment of complex transactions.

The role specifically involves the following:

• Commercial structuring as well as Financial & Quantitative modelling of complex power transactions
• Represent the Deal Structuring team and build strong relationships working with the local stakeholders in the power business and internal functional departments (Risk, Finance, Credit)
• Collaborate with power originators and traders to create innovative structured products in response to demand and changing market conditions
• Provide specialized knowledge on structure, valuation and risk assessment for opportunities in the European power market
• Provide an independent view on structured transactions, with constructive challenge of the deal owner as required and suggest alternative solutions or improvements
• Develop and own valuation methods and models in python and excel, for pricing and risk assessment of complex structured contracts.
• As part of the deal team proactively engage with commercial project leaders to (re-)structure non-standard transactions during negotiation phase, be creative to suggest alternative solutions and adaption of contract structures
• Collaborate with deal owners to manage and extract value from acquired structured positions
• Maintain an outward mindset and ongoing commitment of Deal Structuring to the One-team approach undefined

What You Bring

We are keen to hear from individuals who are quick learners with demonstrable experience of leading individually as well as small teams towards finding solutions to complex business problems, with proven exposure to the Italian market and the ability to grow within a dynamic environment of power trading.

With deal structuring & quantitative analysis at the heart of this role, the candidates would ideally need prior relevant experience in structuring/quantitative analytics and/or qualification in numerical subject (MSc, CFA, CQF, ACA or similar), with proven track record of working in Power/Gas/LNG markets (Preferably one or more European power markets).

Beyond the key requirements mentioned above, strong knowledge or experience in the areas listed below is needed to succeed and thrive in this role:

Required

• Programming in python and Excel VBA
• Developing and maintaining high quality excel financial models for business end use
• Theory and Practice of quantitative finance, models and application to gas and power derivatives
• Experience of structured asset and deal valuations, including risk management strategies.
• Fluency in the English language, with Italian/German speaker advantageous

Advantageous

• Knowledge of corporate finance and accounting principles
• Commercial acumen and strong grasp of principles of long-term commodity investments & risk drivers
• Coaching/mentoring junior team members
• A Certificate in Quantitative Finance (CQF) is considered preferable

Be a part of our team where you will:

• Be part of a dynamic and entrepreneurial workplace environment, where you are valued for the unique contribution and perspectives you bring;

• Benefit from our ‘Valuation Learning Pathway’, a unique and distinctive program that will allow you to grow as a valuation professional;

• Benefit from a large choice of internal and external trainings;

• Diversify the opportunities to build practical knowledge by working on a wide spectrum of asset valuation or otherwise related topics;

• Diversify your client experience by working directly with top private and public clients of all sizes in Alternatives;

• Participate in our Corporate Social Responsibility activities;

• Take advantage of our comprehensive benefits, which help you find flexibility with your work.

Let’s talk about you. If you have …

• +10 years of experience in the valuation of derivatives, structured products and illiquid financial instruments, ideally gained within a Big 4, an asset management environment or a financial institution.
• Master’s degree in finance, financial engineering, mathematics applied to finance, or from a leading business school.
• Demonstrated leadership and team management experience, with a proven ability to coach and inspire professionals.
• Strong project management and multitasking skills, able to handle multiple high-profile engagements under tight deadlines.
• Strong expertise a wide range – from simple to complex derivatives & structured products – alongside corresponding valuation methodologies.
• Knowledge of IFRS standards related to valuation (IFRS 9, IFRS 13, IFRS 7).
• Strong soft skills: analytical mindset, rigor, problem-solving ability, client orientated, and resilience under pressure.
• Proficiency in financial tools such as Bloomberg, Refinitiv, Super Derivatives, with advanced knowledge of Excel/VBA.
• Excellent communication and interpersonal skills in English (written and spoken).
• Professional qualifications (CQF, CFA, FRM, CAIA, etc.) are considered an asset but not required.

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Company-wide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

PIC is recruiting for a Quant Strategist to join its ALM Securities & Derivatives function. This function sits at the core of PIC’s business, creating value by optimising the relationship between assets and liabilities in line with the firm’s risk appetite.

The Quant Strategist team specifically works closely with the wider Investment department to address business challenges through a combination of quantitative and actuarial insight. The team works in partnership with the broader ALM Securities & Derivatives function to shape and advance the analytical frameworks, hedging capabilities, and portfolio-optimisation tools that underpin investment decisions and strengthen balance-sheet management.

This particular role will support the enhancement of PIC’s ALM quantitative toolkit, developing systems and datasets that enable efficient modelling and analysis. It will also focus on translating robust data and models into practical, user-friendly analytics, collaborating with the investment team to deliver clearer insights and support faster, more informed decisions, enhancing the overall investment process.

Your specific accountabilities will be:

• Maintain and enhance the ALM Quant Platform, ensuring existing models, libraries, and analytics remain accurate, robust, and well-documented
• Design and deliver new model features or analytical capabilities, aligned to business requirements, regulatory needs, or investment initiatives
• Develop and implement model components to be handed over to Technology for production deployment, ensuring clean code, technical specifications, and appropriate testing artefacts
• Support BAU production processes, including running ALM analytics, debugging issues, and providing explanations of results to internal stakeholders
• Analyse and approximate Solvency II balance-sheet impacts under different market or portfolio scenarios, supporting risk management and investment decision-making
• Collaborate with ALM, Investment, Actuarial and Risk teams to refine modelling assumptions, validate outputs, and ensure consistency across analytical frameworks
• Contribute to the continuous improvement of modelling standards, including coding practices, version control discipline, and model governance documentation
• Undertake research to enhance modelling methodologies, introducing innovations or efficiency improvements that strengthen PIC’s ALM capability
• Develop technical understanding and platform expertise, with the expectation to progress towards subject-matter expertise in key ALM modules

Requirements

Experience:

• Professional qualifications (e.g., CFA, FIA, CQF, PhD) are advantageous but not essential
• Experience contributing to model development, calibration, or platform enhancement within an investment, actuarial, ALM, or risk environment
• Experience providing BAU model support, troubleshooting issues, and helping stakeholders interpret ALM metrics in a fast-paced environment
• Strong academic record in a quantitative discipline (mathematics, physics, engineering, actuarial science, financial engineering)

We’re seeking someone to join our team as a Associate to assist with performance and exposure/risk attribution analytics of hedge fund portfolios using multi-factor models. The incumbent will further contribute towards testing and building systematic quantitative solutions for the firm’s hedge fund portfolios.

Established in 2004, Morgan Stanley Fund Services (MSFS) is a global business within the Institutional Equities Division (IED) that provides fund administration services for over $700billion in assets across 350+ hedge funds, private equity and large family offices clients. Our best-in-class offering includes accounting and investors services, portfolio analytics, middle-office functions, regulatory and financial reporting, and tax services. Delivering these services to our clients and their investors is a diverse team of 1,400 highly skilled employees across the globe based in New York, London, Glasgow, Dublin, Mumbai, Bengaluru, and Hong Kong. Joining MSFS, you will discover a dynamic environment where every day offers new opportunities for personal growth and innovation. Here at MSFS your career isn’t just a job, it’s an incredible journey fueled by collaboration, challenge, and the chance to make a meaningful impact to our business, our clients, their investors and the wider Morgan Stanley franchise.

The MSFS Portfolio Analytics team is an energetic, globally connected group driving innovation in portfolio analytics for our clients. As part of the team, you will collaborate with colleagues and our clients to deliver impactful risk and performance reports, ensuring clients have the insights they need to succeed.

This differentiating MSFS service provides customized analytics to meet the complex needs of our clients. The team provides opportunities to lead new ways of thinking and actively contributes to developing new analytical tools through developing new ad-hoc scripts and working with our technology colleagues to build new tools. We value problem-solving, continuous learning, and creative thinking.

Our exceptional talent is passionate about data, eager to innovate, and ready to help shape the future of our analytics. If you want to make meaningful contributions for our clients, the Portfolio Analytics team offers the perfect opportunity to make your mark.

Since 1935, Morgan Stanley is known as a global leader in financial services, always evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.

What You’ll Do In The Role:

• Focus on periodic as well as bespoke delivery of quantitative analyses related to portfolio exposure, risk, and performance
• Collaborate with the global client coverage team members to assist answering client questions on factor analysis of their portfolios
• Prepare custom client reports that involve risk and performance calculation
• Help in building automation to scale bespoke solutions for the clients using R/VBA or with IT solutions
• Participate in the ideation for the new products critical to the success of pre-trade quant offering and contribute towards building systematic process for generation of content

What You’ll Bring To The Role:

• Master’s in quantitative discipline such as Financial Engineering/Mathematics/Statistics/Computing with 2-4 years of relevant experience. Certification such as CFA, CQF or FRM will be an added advantage although not mandatory.
• Familiarity with Equities and Equity derivatives products and familiarity with multi-factor risk models
• Hands-on-experience of R or Python programming, familiarity with LaTeX, Markdown and Shiny
• Analytical mindset and problem-solving ability with a quantitative aptitude
• A team player with strong verbal and written communication skills with attention to details

Please see job role.