Quant Arb Risk Analyst

Millennium•New York, NY

2d•$70,000 - $160,000

About The Position

Millennium’s Global Risk Management Department identifies, measures, monitors, manages, and reports on risks associated with the firm’s portfolios at both the firm-wide and Portfolio Manager levels. The team focuses on market, credit, and liquidity risk across regions and product classes, and establishes and monitors trading parameters, risk guidelines, and performance metrics in partnership with the firm’s investment teams. The Quant Arb Risk Analyst supports application of the firm’s risk management framework across quantitative arbitrage portfolios. The role monitors and analyzes performance and risk drivers, assesses quantitative arbitrage strategies and their risk characteristics, and partners with technology teams to improve and prototype risk capabilities. The analyst also builds and enhances models and tools for monitoring risk and explaining performance drivers across quantitative arbitrage strategies. The position offers a total compensation package that includes base salary, discretionary performance bonus, and comprehensive benefits. The estimated base salary range is $70,000 to $160,000 for New York City; the range may change, and the final offer reflects the individual’s experience and qualifications.

Requirements

1–5 years of experience in capital markets or quantitative strategy research.
Experience in an equity-focused risk analyst role; exposure to equity derivatives or other asset classes is a plus.
Strong quantitative, analytical, and problem-solving skills.
Strong programming skills, including Python and SQL.
Intellectual curiosity, sound judgment, and the ability to work independently on open-ended research questions.

Nice To Haves

Experience with index, ETF, quantitative investment strategy (QIS), or Stat Arb research.
Practical experience with equity factor models, such as Barra or Axioma.
Experience with AI tools, including AI-assisted coding, agentic workflows, and large language model use for research and recurring analytical work.
Exposure to equity derivatives or other asset classes.

Responsibilities

Support application of the firm’s risk management framework across quantitative arbitrage portfolios.
Monitor and analyze key performance and risk drivers across quantitative arbitrage strategies.
Analyze and assess quantitative arbitrage strategies to develop a clear understanding of their risk characteristics.
Partner with technology teams to improve and prototype risk capabilities.
Build and enhance models and tools used to monitor risk and explain performance drivers across quantitative arbitrage strategies.