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.
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