Stat Arb PM
Systematic Statistical Arbitrage Portfolio Manager
Location: Paris, France
Team: Systematic Equities / Market-Neutral
Employment Type: Full-Time
About the Role
We're hiring a Systematic Stat Arb Portfolio Manager to lead the full lifecycle from alpha research through live deployment, risk, and capital scaling. You'll own strategy design, portfolio construction, execution, and risk management-supported by strong data, infrastructure, and quant engineering resources. The ideal candidate brings a verifiable live track record and a disciplined approach to sim-to-live parity, capacity management, and drawdown control.
Key Responsibilities
Alpha Research & Signal Development
- Develop and refine market-neutral, capacity-aware stat arb strategies across global equities.
- Build predictive signals using cross-sectional and time-series methods, feature engineering, and robust validation (out-of-sample, walk-forward, stress/regime testing).
- Incorporate alternative data where demonstrably additive and compliant with data governance.
Portfolio Construction & Risk
- Construct portfolios within clear risk budgets (beta/market neutrality, sector/country neutrality, liquidity, crowding).
- Implement dynamic controls: volatility targeting, exposure caps, stop-loss/kill-switch logic, leverage management.
- Use optimization and risk models to balance alpha decay, turnover, and transaction costs.
Execution & Microstructure
- Translate research to production with rigorous sim-to-live tracking and automated monitoring.
- Optimize execution via TCA, shortfall/impact modeling, broker algos, and venue selection; partner with trading on SOR and schedule design.
- Continuously reduce slippage through parameter tuning and microstructure-aware routing.
Capital & Live Book Management
- Define capacity and scaling paths by horizon/region; propose capital allocation frameworks.
- Monitor drift vs. model, adjust exposures under regime shifts, and maintain stable post-cost performance.
Collaboration & Leadership
- Mentor researchers/QRs; drive code quality, documentation, and reproducibility.
- Partner with data engineering and quant dev on data pipelines, feature stores, and research tooling.
Governance & Compliance
- Adhere to AMF/MiFID II/MAR requirements, best-execution standards, data usage policies, and model governance.
- Maintain transparent reporting to Risk/Investment Committees with clear KPIs and decision logs.
Qualifications
Track Record
- 3-7+ years managing or co-managing systematic stat arb strategies (PM/Sub-PM), with ≥18-24 months verifiable live performance.
- Evidence of net Sharpe > 1.5, controlled max drawdown, stable turnover/capacity profile, and robust post‑cost attribution.
Technical
- Strong Python (NumPy/Pandas, scikit‑learn); C++ and/or kdb+/q a plus.
- Proficient with SQL, Linux, Git; experience with distributed compute/cloud (AWS/GCP/Azure) beneficial.
- Comfort with backtesting frameworks, research hygiene, and CI/CD for model deployment.
Market & Data
- Deep understanding of equity market microstructure, TCA, and implementation shortfall.
- Experience working with large-scale datasets and alternative data; rigorous data QC and taxonomy normalization.
Risk & Portfolio
- Practical knowledge of constrained optimization, transaction cost modeling, and scenario/regime analysis.
Education & Language
- Advanced degree in a quantitative field (Math, Stats, CS, Physics, Engineering, Financial Economics) preferred.
- English required; French is a plus.
What We Offer
- Compensation: Competitive base + performance-based payout; upside aligned with PnL.
- Platform: High-quality data, compute, research tooling, and seasoned execution support.
- Support: Dedicated quant dev, data engineering, and independent risk oversight.
- Set-Up: Paris-based team with hybrid flexibility; relocation/visa support if applicable.
- Growth: Ability to scale capital across regions/horizons with autonomy and clear governance.
Success Metrics (First 6-12 Months)
- Deploy 1-2 production market-neutral stat arb sleeves with defined capacity and risk budgets.
- Maintain sim-to-live tracking error within agreed tolerances and implementation shortfall within benchmarks.
- Deliver stable risk-adjusted returns with disciplined drawdown management and robust post‑cost attribution.
FAQs
Congratulations, we understand that taking the time to apply is a big step. When you apply, your details go directly to the consultant who is sourcing talent. Due to demand, we may not get back to all applicants that have applied. However, we always keep your resume and details on file so when we see similar roles or see skillsets that drive growth in organizations, we will always reach out to discuss opportunities.
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