Quantitative Credit Alpha Sub-PM

Job Title: Quantitative Credit Alpha Sub-PM

Location: New York
Team: Credit Pod

Position Overview

We are seeking a Quantitative Credit Alpha Sub-Portfolio Manager to join a high-performing credit pod at a leading hedge fund. The ideal candidate will have a proven track record of generating alpha through quantitative strategies in credit markets, with expertise in Credit Derivatives (CDX, tranches, options), Credit ETFs, and/or Cash Credit (IG, HY). This is a front-office role with direct P&L responsibility and the autonomy to run a risk sleeve within the pod.

The PM is prioritizing candidates who can own alpha strategies end-to-end-from research and model development to trade execution and risk management.

Key Responsibilities

• Alpha Strategy Ownership:
  • Design, implement, and manage quantitative credit strategies with direct P&L impact.
  • Develop systematic signals and discretionary overlays across CDX, credit options, ETFs, and cash bonds.
• Portfolio Management:
  • Take ownership of a risk sleeve within the pod, including trade sizing, risk budgeting, and performance attribution.
  • Optimize strategies for risk-adjusted returns under varying market conditions.
• Quantitative Research & Modeling:
  • Build predictive models using advanced statistical, econometric, and machine learning techniques.
  • Work with instrument-level and loan-level credit datasets to uncover alpha factors.
• Risk Management:
  • Monitor exposures, stress-test strategies, and ensure adherence to risk limits.
• Collaboration:
  • Partner with the lead PM and other pod members to share insights and refine strategies.
• Innovation:
  • Explore alternative data sources and cutting-edge techniques to maintain a competitive edge.

Qualifications

• Experience:
  • 5-10 years in credit alpha generation at a hedge fund, prop desk, or leading asset manager.
  • Demonstrated success in running or contributing to profitable credit strategies.
• Technical Skills:
  • Strong programming skills (Python, C++, SQL); experience with large datasets and distributed computing.
  • Expertise in statistical modeling, time-series analysis, and machine learning.
• Market Knowledge:
  • Deep understanding of credit instruments (IG, HY, CDX, tranches, ETFs) and macro drivers.
• Leadership:
  • Entrepreneurial mindset with ability to manage a risk sleeve and evolve into full PM responsibilities.

Compensation

• Highly competitive, performance-driven structure with significant upside for alpha contribution.