Associate, Trader - #293

Capstone Investment Advisors•New York, NY

1d•$150,000 - $160,000•Hybrid

About The Position

Capstone Investment Advisors, LLC (“Capstone”) is a global asset manager, dedicated to exploring alpha opportunities in derivatives and complementary strategies that persist across market cycles. With approximately $12.5 billion of AUM (as of May 1, 2026) and 306 employees, Capstone is headquartered in New York with offices in London, Amsterdam, Stamford, Los Angeles, Boston, Tokyo, Milan, Texas, and Maryland. Since 2004, through strategic insight, market-leading expertise, and advanced technology, we have sought to anticipate and harness the complexities of world markets, creating unique opportunities for our clients, team, and industry. With our sophisticated, global client base, we recognize that our success is deeply connected to real people. For that reason, we take a human approach to everything we do, focusing largely on collaborative performance. Our workflow and process are built around the belief that by sharing ideas, we achieve greater outcomes. This gives you greater access to resources, direct exposure to senior leadership, and new opportunities to experiment and innovate.

Requirements

Master’s degree in Financial Engineering or related field or equivalent
Two (2) years of experience designing and building statistical models, including PCA-based factor risk decomposition, regression, and time-series models
Two (2) years of experience developing structural models to quantify the reaction functions of major equity and fixed income index fund participants under funding, liquidity, regulatory, and balance sheet constraints
Two (2) years of experience creating foundational risk analytics frameworks, including duration, convexity-gap, convexity-hedging feedback-loop, and OAS/extension-risk frameworks, to predict and anticipate rebalancing flows in Treasuries and Swaps
Two (2) years of experience pricing IRS and Swaptions including performing discounting and forward curve construction and volatility surface calibration to quantify PV01, KRD, Vega, and convexity of long dated rate and volatility exposures to directly inform relative value strategies
Two (2) years of experience performing Monte Carlo based scenario generation to design and evaluate customized stress scenarios for mortgage backed securities (MBS) basis risk (OAS), rates, and volume exposures against Treasury benchmarks
Two (2) years of experience utilizing regression-based style analysis to create synthetic tracking portfolios
Two (2) years of experience building and deploying hybrid LLM-based execution algorithms using Python and C++ to monitor and execute trades across multi-currency, cross asset portfolios
Two (2) years of experience developing data pipelines and SQL architecture to run VaR and Tail Risk simulations on multi-asset portfolios

Responsibilities

Implement systematic strategies including machine learning algorithms.
Design and build statistical models, including PCA-based factor risk decomposition, regression, and time-series models.
Develop structural models to quantify the reaction functions of major equity and fixed income index fund participants under funding, liquidity, regulatory, and balance sheet constraints.
Create foundational risk analytics frameworks, including duration, convexity-gap, convexity-hedging feedback-loop, and OAS/extension-risk frameworks, to predict and anticipate rebalancing flows in Treasuries and Swaps.
Price IRS and Swaptions including performing discounting and forward curve construction and volatility surface calibration to quantify PV01, KRD, Vega, and convexity of long dated rate and volatility exposures to directly inform relative value strategies.
Perform Monte Carlo based scenario generation to design and evaluate customized stress scenarios for mortgage backed securities (MBS) basis risk (OAS), rates, and volume exposures against Treasury benchmarks.
Utilize regression-based style analysis to create synthetic tracking portfolios.
Build and deploy hybrid LLM-based execution algorithms using Python and C++ to monitor and execute trades across multi-currency, cross asset portfolios.
Develop data pipelines and SQL architecture to run VaR and Tail Risk simulations on multi-asset portfolios.