Macro Credit Quantitative Researcher

We are seeking a Quantitative Researcher with 3+ years of experience to join a Systematic Macro Portfolio Manager at Capula. This is a high-impact role that sits directly within the PM’s investment group, with a particular focus on systematic strategies involving credit indices (e.g., CDX, iTraxx) and credit ETFs.

Key Responsibilities:

• Develop and enhance models for relative value trading and alpha generation across credit indices and credit ETFs.
• Analyse credit market dynamics, including spread behavior, roll-downs, and liquidity patterns.
• Implement tools to support signal generation, factor decomposition, and portfolio risk attribution.
• Work closely with the PM to evolve systematic frameworks and enhance trading decisions through robust quantitative insights.

What We Offer:

• A high-impact role with direct visibility to the trading desk and influence on real-time decision-making.
• An intellectually stimulating environment with a strong culture of collaboration and curiosity, where innovation and creativity are encouraged.
• The chance to refine and expand your skills while contributing to critical decision-making processes, whilst contributing to trade generation and portfolio construction in a fast-evolving market landscape.

About You:

• We are looking for individuals who thrive on intellectual challenges and enjoy applying their analytical skills to complex problems. You are curious, driven, and excited by the prospect of making a tangible impact in the world of quantitative finance.
• If you are passionate about quantitative analysis, trading strategies, and financial modelling, we invite you to be a part of our forward-thinking team. This is your opportunity to grow professionally while working alongside some of the brightest minds in the industry.

• Have graduated with a masters or PhD in a highly quantitative discipline (e.g. Physics, Mathematics, Statistics, Engineering or another quantitative field)
• A consistently strong academic record
• Strong Maths foundations (probabilities, statistics, analysis, linear algebra) and solid Programming Skills
• At least 3 years’ experience in quantitative research or strategy development, ideally within credit or macro trading environments.
• Solid understanding of credit index products (e.g. CDX, iTraxx), credit ETFs, and related market structure.
• Advanced proficiency in Python and experience working with time series and financial market data.
• Master’s or PhD in a quantitative field (e.g., statistics, physics, applied mathematics).
• Strong analytical thinking, problem-solving ability, and desire to partner closely with a fast-moving trading desk

Capula is committed to supporting all employees in developing their careers and delivering their best work. We offer a collaborative and high-performance environment where portfolio managers are empowered with resources, autonomy, and the opportunity to make a significant impact. Benefits include:

• A highly competitive base salary and discretionary bonus structure, reviewed annually
• 20 days of paid annual leave, plus public holidays
• Comprehensive medical and dental insurance, along with other core employee benefits
• Exceptional training, mentoring, and staff development opportunities to support continuous professional growth
• Exposure to a flat and agile organisational structure, enabling greater ownership and decision-making responsibility
• Onsite breakfast, lunch, and dinner provided daily in our employee restaurant
• Access to a dynamic, intellectually engaging team with cross-asset collaboration and open communication