Job Description
What You’ll Be Doing
The goal of CIBC’s capital markets business is to be the premier client-focused wholesale bank based in Canada. To deliver on this, the capital markets arm of CIBC provides a wide range of credit, capital markets, investment banking, and research products and services to government, institutional, corporate and retail clients in Canada and in key markets around the world.
Trading continues to undergo a revolution. Algorithmic market making, ETF technology and portfolio trading have combined to promise greater efficiency and immediacy to many trading assets. The ability to process and analyze data through statistical learning, optimization, and data science has opened opportunities for data-centric, cross-asset market-making. The CIBC Automated Market Making team is at the forefront of these developments.
We are looking for an experienced trading professional who can combine a quantitative mindset with electronic and automated trading desk though statistical models and analytics for ETF pricing/market-marking, portfolio pricing/trading, portfolio optimization and hedging.
The desk has a start-up culture where originality and entrepreneurship are highly valued. If you enjoy continuous learning in highly a dynamic market and taking full ownership for quant, technical, and business aspect then this role provides a lot of opportunities for to contribute from the ground-up.
How You’ll Succeed
- An understanding of ETF pricing and hedging, creation and redemption strategies.
- Experience in pricing and hedging trade risk
- An understanding of portfolio management and optimization.
- Appropriately assess risk/reward of transactions when making business decisions; and ensure that all team members understand the need to do the same, demonstrating proper consideration for the firm’s reputation.
- Work with ETF issuers and internal counterparts to structure and develop new products while providing liquidity
- Help clients at all stages of the ETF process, from product understanding, product selection and best execution strategies to meet their objectives and benchmarks
- Work within a team to develop & improve analytics libraries used for pricing and risk-management
- Collaborate closely with other traders, structurers, and technology professionals.
- Work in close partnership with internal stakeholders to ensure proper risk and business process
- Build a culture of responsible finance, good governance and supervision, expense discipline and ethics
Who Are You
- Most importantly the candidate should be creative, entrepreneurial and enjoy taking ownership of a project from start to finish.
- Candidate should have experience and training in one or more of the following areas: financial engineering, machine learning, portfolio optimization and optimization theory, and/or algo pricing/market making.
- Prior experience with ETF/portfolio pricing and trading
- Strong programming skills in python are a strong asset
- The desk is closely integrated between traders, quants, and technologists and provides exposure to all aspects of the business. Business intuition and communication skills must be strong.
- The candidate must be practically minded – he or she must understand how models generate value for the trading operation, what level of sophistication they should have in order to achieve their goals while remaining simple and easy to implement, and how model performance can be evaluated, both in testing and in production. The position requires both attention to detail and the ability to see the “big picture” of the trading operation.
- 2-7 years of experience in fixed income trading, with an understanding of ETFs
- M.A./M.S. in a quantitative discipline such as computer science, physics, statistics, engineering or financial engineering is required
- Obtain and maintain all registrations/licenses which are required for your role, within the appropriate timeframe
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