Convertible Arbitrage Trader - Associate or VP

About AQR Capital Management

AQR is a global investment management firm built at the intersection of financial theory and practical application. We strive to deliver superior, long-term results for our clients by seeking to filter out market noise to identify and isolate what matters most, and by developing ideas that stand up to rigorous testing. Underpinning this philosophy is an unrelenting commitment to excellence in technology - powering our insights and analysis. This unique combination has made us leaders in alternative and traditional strategies since 1998.

AQR takes a systematic, research-driven approach, applying quantitative tools to process fundamental information and manage risk. Our clients include institutional investors, such as pension funds, insurance companies, endowments, foundations and sovereign wealth funds, as well as financial advisors.

The Team:

We are seeking an exceptionally talented individual to join our Global Trading Strategies team as a Convertible Arbitrage Trader. This person should be ambitious and enthusiastic about implementing new ideas and possess the ability to work both individually and in a team setting.

This is a critical role for us and the trader in this role will be responsible for identifying, analyzing, and executing convertible bond strategies to generate consistent, risk-adjusted returns. The ideal candidate will possess a deep understanding of convertible securities, strong quantitative skills, and a proven track record of trading this complex asset class.

Your Role:

• Work closely with the Portfolio Management team for achieving the portfolio objectives
• Screen and analyze the convertible universe for potential opportunities
• Understand convertible arbitrage pricing models and provide feedback on inputs
• Build and maintain strong relationships with the sell side both on the primary and secondary converts business
• Present market activity, be aware of liquidity and axes
• Handle all delta hedges for the convertible bond portfolio
• Improve and automate current execution, data collection and recording processes

What You'll Bring:

• Bachelor's degree in Finance, Economics, Mathematics, Computer Science, or a related quantitative field is required
• 3 - 4 years of experience in as a Convertible Arbitrage Trader, preferably within a large bank or a large hedge fund / asset manager. Credit Trading experience a plus.
• Proficiency in convertible securities as a product, financial modeling, quantitative analysis, and statistical tools (e.g., Python, R, MATLAB, VBA)
• Experience working with large data sets and familiarity with data visualization tools

The salary range for this role is expected to be $140,000 - $170,000.. This is the range that we in good faith believe is accurate for this role at the time of this posting. We may ultimately pay more or less than the posted range, depending upon factors such as skills, experience, location, or other business and organizational needs. This wage range may also be modified in the future.

This job is also eligible for an annual discretionary bonus.

We offer comprehensive package of benefits including paid time off, medical/dental/vision insurance, 401(k), and any other benefits to eligible employees.

Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, benefits, or any other form of compensation and benefits that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company's sole discretion, consistent with the law.

AQR is an Equal Opportunity Employer. EEO/VET/DISABILITY