Quantitative Risk Modeler

1 day ago

Jersey City, New Jersey, United States Fidelity TalentSource LLC Full time
Job Description:

Fidelity Asset Management is seeking an experienced quantitative risk professional to own the development and enhancement of our risk analytics platform.

This platform supports ex-ante risk, VaR, attribution, stress testing, and scenario analysis across all asset classes, and is used by investment professionals across Fidelity for risk management, portfolio construction, and alpha research.

The successful candidate will have two separate roles. First, they will develop the specifications and codebase needed to compute risk analytics not currently supported by the platform, and then collaborate with quantitative developers to deploy these analytics into production. Particular focus will be given to optimizing run-time performance, scalability, and robustness of the core risk calculators on the platform.

The second piece of the role focuses on research to improve Fidelity's factor models and specific risk forecasts. The factor model research will focus on both liquid alternative (e.g., arbitrage, macro, ARP, managed futures) and illiquid alternative (e.g., private credit, infrastructure, real estate, and private equity) asset classes. A second area of research will focus on collaboration with QRI's data science researchers to extract insights from alpha research to improve specific risk forecasts.

In addition to focusing on the development of core functionality and methodological improvements, a key component of this role is communicating with portfolio and risk managers across the firm to ensure the platform can be optimally used as part of the investment decision-making process. The successful evolution of the platform will require balancing long-term strategic enhancements with tactical improvements required by the business.

The role sits within the Platform and Analytics Group (PAG). PAG works alongside quantitative researchers in QRI, and across Asset Management, to build and maintain the infrastructure that enables R&D for alpha generation, risk modeling, and portfolio construction. QRI is responsible for the management and development of quantitative investment strategies and solutions while providing high-quality quantitative, data-driven support to Fidelity's fundamental investment professionals, ensuring they have access to the most relevant data and sophisticated quantitative analysis.

The Value You Deliver:
  • Design specifications and code for core risk capabilities of Fidelity's risk management platform, including decompositions of ex-ante risk, stress testing, attribution, and tail risk.
  • Work with database engineers, software, and quantitative developers to deploy new risk analytics into Fidelity's production environment.
  • Collaborate with investment professionals to ensure that risk platform improvements satisfy end-user business requirements.
  • Deliver sophisticated projects with multiple stakeholders.
Education and Experience:
  • PhD or equivalent experience in Mathematics, Economics, Statistics, Quantitative Finance, or a similarly quantitative field.
  • 10+ years of experience within risk management, market risk analytics, or quantitative research. A proven track record of partnering with both quantitative and fundamental investors and technologists.
  • Prior work experience in financial modeling (e.g., risk models, analytics) or data science and model deployment to a production environment is strongly desired.
  • Experience with data handling (ETL, data joining with SQL, cleaning, processing, summarizing, descriptive analysis), and building and back-testing statistical and econometric models.
The Skills You Bring:
  • Programming skills in Python and database languages.
  • Experience with Python-based GPU-accelerated high-performance computing libraries such as JAX, TensorFlow, or PyTorch.
  • Experience implementing statistical models that apply cross-sectional and time-series econometrics, dimensionality reduction, and optimization techniques.
  • Demonstrated effective communication with both internal and external partners.
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 people's 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 working model blends the best of working offsite with enhancing time together in person to meet associate and business needs. Currently, most hybrid roles require associates to work onsite all business days of one assigned week per four-week period.

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 complete a background investigation, detailed in this document, and may be asked to provide additional documentation as requested.

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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