Global Banking & Markets, FICCs Credit Strats – Embedded Control Strat - Associate - Paris

Location: Paris, Ile-de-France, France; office-based role.

Company

Global Banking & Markets division focused on quantitative engineering for credit trading and financing activities.

What you will do

• Build and maintain pricing and risk models for credit derivatives and bonds, including single-name CDS, CDS indices, index tranches, CLNs, repacks, and total return swaps on bonds, loans, and indices.
• Develop and calibrate credit models covering hazard rates, correlation, and volatility.
• Work directly with sales, structuring, and traders on strategies for changing market and risk conditions.
• Contribute to structured credit transactions across Credit Exotics, Macro Credit, Credit Financing, and IG/HY/Distressed trading desks.
• Develop robust, scalable pricing libraries and derivative risk systems covering trade booking, end-of-day risk, P&L explain, and model validation support.

Requirements

• MS or PhD in a quantitative field such as Applied Mathematics, Physics, Engineering, or Computer Science.
• Meaningful coding experience in an object-oriented programming language.
• Excellent written and verbal communication skills.
• Strong quantitative and technical problem-solving skills, attention to detail, good judgement, and willingness to investigate and learn new ideas.
• Ability to work in a dynamic, fast-paced environment and deliver accurate results quickly.
• Ability to solve problems and explain underlying ideas.
• For candidates entering at VP level, relevant experience in the financial industry is required.

Culture & Benefits

• Close collaboration with traders, salespeople, and structuring professionals.
• Work on complex financial and technical challenges across flow, structured, and funded credit.
• Direct exposure to rapidly changing market and risk conditions.