Co-op, Quantitative Researcher
Fidelity Investments, Boston, MA, United States
Job Description:
Fidelity's Counterparty Risk and Analytics (CRA) group is seeking a Quantitative Researcher to join our Quantitative Research team. You will work closely with quantitative analysts, fundamental analysts, and operations, as well as peer technology teams in a dynamic and fast paced environment. You will help develop both new tools and improve existing tools in areas such as counterparty risk profile assessments and credit exposure analytics. The role is primarily focused on hands-on development and delivery, which requires a combination of both strong technical and advanced statistical analysis skills
The Role
CRA Quantitative Research team is focused on developing predictive analytics to assess the creditworthiness of our counterparty universe and to estimate expected credit losses on financial assets resulting from daily trading activity with our counterparties .Our framework includes Probability of Default modelling using Machine Learning and AI, Potential Future Exposure (PFE) modeling, Securities Pricing, Value-at-Risk, Stress Testing and also, development of visualization tools to gain analytical insight and flag potential outliers. The ideal candidate will work closely with CRA Quant Team members to develop and enhance risk models to ensure risks are appropriately captured. Responsibilities include but are not limited to:
Work on new predictive models based on large fundamental and market-based financial data sets, using time-series modeling, ML, and statistical and data science techniques in the financial industry
Utilize advanced mathematical and quantitative skills including derivative pricing and stochastic simulations to assist in development and enhancement of PFE modeling of derivative products
Source, curate and visualize data sets, and perform ad-hoc analyses on a wide variety of risk analytic projects aimed at efficiently identifying stressed counterparties
Collaborate with business partners (technologists, research analysts, and our internal risk monitoring team) to analyze existing capabilities and room for improvement in visualizing/presenting data to stakeholders. Lead the initiative of redesigning counterparty risk dashboards, and generate charts and graphs to deliver an actionable story to the stakeholders
Present and communicate the results and ideas of projects clearly and concisely to CRA team members and stakeholders as needed.
The Expertise and Skills You Bring
PhD or senior year MS student in finance, mathematics, economics, statistics, or a closely-related discipline emphasizing quantitative and financial analysis.
Deep understanding of quantitative techniques and methods, statistics and econometrics - including probability, linear regression and time series data analysis.
Hands-on data analysis expertise in Python is required. SQL, advanced statistical analysis skills and experience with high-volume, high-dimensional data modeling are required. Experience in Machine Learning ,Generative AI, Large Language Models (LLMs) applications, Pandas, Scikit-Learn and Numpy a plus.
Knowledge of and experience with financial instruments, financial markets, financial models, and statistics.
Ability to communicate effectively with multiple stakeholders, including fundamental and quantitative researchers and technology partners.
Certifications:
Company Overview
Fidelity Investments is a privately held company with a mission to strengthen the financial well-being of our clients. We help people invest and plan for their future. We assist companies and non-profit organizations in delivering benefits to their employees. And we provide institutions and independent advisors with investment and technology solutions to help invest their own clients' money.
Join Us
At Fidelity, you'll find endless opportunities to build a meaningful career that positively impacts peoples' lives, including yours. You can take advantage of flexible benefits that support you through every stage of your career, empowering you to thrive at work and at home. Honored with a Glassdoor Employees' Choice Award, we have been recognized by our employees as a top 10 Best Place to Work in 2024. And you don't need a finance background to succeed at Fidelity-we offer a range of opportunities for learning so you can build the career you've always imagined.
Fidelity's hybrid working model blends the best of both onsite and offsite work experiences. Having the majority of our associates work onsite is important for our business strategy and our culture. We also value the benefits that working offsite offers associates. Most roles listed as Hybrid will require associates to work onsite all business days of every other week in a Fidelity office. This does not apply to roles listed as Remote or Onsite.
At Fidelity, we value honesty, integrity, and the safety of our associates and customers within a heavily regulated industry. Certain roles may require candidates to go through a preliminary credit check during the screening process. Candidates who are presented with a Fidelity offer will need to go through a background investigation, detailed in this document, and may be asked to provide additional documentation as requested. This investigation includes but is not limited to a criminal, civil litigations and regulatory review, employment, education, and credit review (role dependent). These investigations will account for 7 years or more of history, depending on the role. Where permitted by federal or state law, Fidelity will also conduct a pre-employment drug screen, which will review for the following substances: Amphetamines, THC (marijuana), cocaine, opiates, phencyclidine.
We invite you to Find Your Fidelity at fidelitycareers.com.
Fidelity Investments is an equal opportunity employer. We believe that the most effective way to attract, develop and retain a diverse workforce is to build an enduring culture of inclusion and belonging.
Fidelity will reasonably accommodate applicants with disabilities who need adjustments to participate in the application or interview process. To initiate a request for an accommodation, contact the HR Accommodation Team by sending an email to accommodations@fmr.com.
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