Market Risk and Derivatives Analyst

Penn Mutual • Washington Township, PA

1d • Hybrid

About The Position

Penn Mutual Asset Management. LLC (“PMAM”) is a registered investment adviser and wholly owned subsidiary of The Penn Mutual Life Insurance Company. PMAM is committed to serving the institutional marketplace by offering fixed income investment solutions. We tailor our proven approach to generate solid risk-adjusted returns that result in consistent earnings, while balancing the need for capital preservation to achieve the desired strategy and goals. With over $44 billion in assets under management as of February 28, 2026, we are fixed-income specialists, dedicated to creating value through a prudent, thoughtful and rigorous investment decision-making process. We are looking for a Market Risk and Derivatives Analyst to come join our team. This role will apply advanced quantitative, analytical, and technical skills to support and enhance insurance hedging, derivatives, and market risk management programs. You will be responsible for developing code using Python and R, as well as trading under. In this role you will also partner closely with portfolio managers and portfolio analytics team to design, implement, evaluate, and continuously improve risk mitigation and investment strategies using data-driven insights. We are looking for a highly motivated individual with a strong quantitative background, a genuine interest in investments, and intellectual curiosity. Ideal candidates will bring sharp analytical skills, a collaborative mindset, great attention to detail, and a strong eagerness to learn about financial markets, derivatives, and fixed income investment strategies.

Requirements

• Experience applying quantitative or analytical skills in financial services, investments, risk management, data science, or related roles
• Proficiency in Python and/or R with the ability to design, implement, and maintain analytical models and scalable code in a production environment.
• Strong foundation in Financial Mathematics, including derivative pricing theory and practical applications
• Solid knowledge of modeling techniques such as Monte Carlo simulation, sensitivity analysis, historical back test, and risk analytics
• Excellent written and verbal communication skills
• Ability to thrive in a fast-paced, high-energy environment and collaborate effectively in a team setting
• Strong desire to pursue and deepen knowledge of financial markets and investments
• Candidate should have passed the FINRA Series 3 exam, or be able to do so within the first three months of starting the role.

Nice To Haves

• Insurance products knowledge
• CFA candidates
• Monitor AI tool usage and impact

Responsibilities

• Apply quantitative and analytical skills to support, maintain, and enhance insurance hedging and risk management programs; analyze hedge effectiveness, attribution, and outcomes to inform decision-making.
• Leverage programming, data engineering, and emerging AI tools to automate analytics, integrate datasets, improve data quality, and streamline investment and risk workflows.
• Execute and support trades across derivatives (interest rate, equity, inflation) and fixed income instruments while adhering to established risk, compliance, and execution standards.
• Develop and apply an understanding of macroeconomic trends, monetary and fiscal policy, and market structure to provide quantitative insights that support portfolio construction and risk positioning.
• Contribute to idea generation by staying current on life insurance industry trends, investment strategies, and risk management approaches; identify opportunities in financial markets to improve the risk/reward profile of derivatives and fixed income portfolios.
• Translate complex data into clear, actionable insights; conduct quantitative analysis including stress testing, scenario analysis, Monte Carlo simulations, VaR, sensitivity analysis, and derivative risk modeling to support investment decisions.
• Produce standard and ad hoc risk and performance reports tailored for diverse audiences, ensuring accuracy, relevance, and timely delivery.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 501-1,000 employees