Manager, Quantitative Risk

Tower Research Capital is a leading quantitative trading firm founded in 1998. Tower has built its business on a high-performance platform and independent trading teams. We have a 25+ year track record of innovation and a reputation for discovering unique market opportunities.

Tower is home to some of the world’s best systematic trading and engineering talent. We empower portfolio managers to build their teams and strategies independently while providing the economies of scale that come from a large, global organization. 

Engineers thrive at Tower while developing electronic trading infrastructure at a world class level. Our engineers solve challenging problems in the realms of low-latency programming, FPGA technology, hardware acceleration and machine learning. Our ongoing investment in top engineering talent and technology ensures our platform remains unmatched in terms of functionality, scalability and performance.

At Tower, every employee plays a role in our success. Our Business Support teams are essential to building and maintaining the platform that powers everything we do — combining market access, data, compute, and research infrastructure with risk management, compliance, and a full suite of business services. Our Business Support teams enable our trading and engineering teams to perform at their best.

At Tower, employees will find a stimulating, results-oriented environment where highly intelligent and motivated colleagues inspire each other to reach their greatest potential.

Responsibilities

• Developing and overseeing firm-wide risk factors and exposure models, including custom and strategy-specific factors


• Designing, implementing, and maintaining pricing models for risk and performance analysis (P&L, performance statistics)


• Enhancing VaR models and stress calculations on cross-asset products as markets evolve


• Building and maintaining liquidity metrics, including crowding, stress liquidity measures, market impact, turnover


• Performing cross-strategy and cross-portfolio risk aggregation, exposure analysis, and concentration monitoring


• Conducting and reviewing stress testing and scenario analysis using both historical events and forward-looking scenarios


• Monitoring real-time and end-of-day risk metrics, escalating material issues and providing actionable guidance


• Partnering with trading and research teams while maintaining independent risk oversight and challenge


• Driving improvements to risk infrastructure, data quality, and analytics tooling


• Presenting risk assessments and findings to senior management and firm leadership
  
  

Qualifications

• Advanced degree (PhD, MS, or equivalent) in a quantitative discipline such as Mathematics, Statistics, Physics, Computer Science, or Engineering


• At least 3 years of experience in quantitative risk management, quantitative research, or trading, ideally in a multi-strategy environment


• Strong product knowledge & analytical rigor in terms of pricing models, risk sensitivities, and best practices for risk aggregation in a portfolio context


• Strong experience designing and validating VaR models and other distributional risk measures


• Ability to develop custom risk factors and factor-based exposure models


• Strong programming skills in Python and SQL; Familiarity with MSCI RiskMetrics, Barra models a plus


• Experience with pricing functions packages (i.e. QuantLib)


• Expertise in liquidity, transaction cost, and capacity risk is a plus
  
  

Anticipated annual base salary range $150,000-250,000, plus eligible for discretionary bonus

Benefits

Tower’s headquarters are in the historic Equitable Building, right in the heart of NYC’s Financial District and our impact is global, with over a dozen offices around the world. 

At Tower, we believe work should be both challenging and enjoyable. That is why we foster a culture where smart, driven people thrive – without the egos. Our open concept workplace, casual dress code, and well-stocked kitchens reflect the value we place on a friendly, collaborative environment where everyone is respected, and great ideas win.

Our benefits include:

• Generous paid time off policies


• Savings plans and other financial wellness tools available in each region


• Hybrid working opportunities


• Free breakfast, lunch, and snacks daily 


• In-office wellness experiences and reimbursement for select wellness expenses (e.g., gym, personal training and more) 


• Company-sponsored sports teams and fitness events (JPM Corporate Challenge, Cycle for Survival, Wall Street Rides FAR and more)


• Volunteer opportunities and charitable giving 


• Social events, happy hours, treats, and celebrations throughout the year


• Workshops and continuous learning opportunities

At Tower, you’ll find a collaborative and welcoming culture, a diverse team and a workplace that values both performance and enjoyment. No unnecessary hierarchy. No ego. Just great people doing great work – together.

Tower Research Capital is an equal opportunity employer.