Product Control Quantitative Lead
Required skills
- options
- derivatives
- volatility surfaces
- option skews
- interpolation
- smoothing techniques
- Python
- model validation
- model governance
- quantitative developers
Nice to have
- data provenance
- calibration procedures
- bespoke structures
Role summary
DRW, a diversified trading firm, seeks a Product Control Quantitative Lead in Chicago. This role focuses on the valuation and independent validation of options, structured products, and related derivatives. Responsibilities include reviewing pricing models, validating volatility surfaces/skews, verifying model inputs, and presenting findings to a committee. The lead will collaborate with trading desks, risk, quants, and software engineers to ensure robust valuation processes and build verification tools. A minimum of 7 years of relevant experience, including constructing/analyzing volatility surfaces and option skews, and proficiency in Python for data management and tool building, are required. Prior experience in model validation or governance frameworks is preferred. The position requires 4 days per week in office.
DRW is a diversified trading firm with over 3 decades of experience bringing sophisticated technology and exceptional people together to operate in markets around the world. We value autonomy and the ability to quickly pivot to capture opportunities, so we operate using our own capital and trading at our own risk.
Headquartered in Chicago with offices throughout the U.S., Canada, Europe, and Asia, we trade a variety of asset classes including Fixed Income, ETFs, Equities, FX, Commodities and Energy across all major global markets. We have also leveraged our expertise and technology to expand into three non-traditional strategies: real estate, venture capital and cryptoassets.
We operate with respect, curiosity and open minds. The people who thrive here share our belief that it’s not just what we do that matters–it's how we do it. DRW is a place of high expectations, integrity, innovation and a willingness to challenge consensus.
We are seeking a Product Control Quantitative Lead to focus on the valuation and independent validation of options, structured products and related derivatives. The role will review pricing models, validate volatility surfaces/skews, verify model inputs, and present findings to the Valuation committee. This role will work closely with trading desks, risk, quants, and software engineers to ensure robust, auditable valuation processes and build scalable verification tools. This role will require you to be in office 4 days per week.
Responsibilities:
Skills & Experience:
The annual base salary range for this position is $200,000 to $250,000 depending on the candidate’s experience, qualifications, and relevant skill set. The position is also eligible for an annual discretionary bonus. In addition, DRW offers a comprehensive suite of employee benefits including group medical, pharmacy, dental and vision insurance, 401k (with discretionary employer match), short and long-term disability, life and AD&D insurance, health savings accounts, and flexible spending accounts.
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California residents, please review the California Privacy Notice for information about certain legal rights at https://drw.com/california-privacy-notice.
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