2023 Quantitative Masters, Portfolio Mgmt.

Employer
PIMCO
Location
Newport Beach, USA
Salary
Competitive
Posted
Sep 09, 2022
Closes
Oct 09, 2022
Ref
16337597
Job Function
Banking
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
About Us:

PIMCO is one of the world's premier fixed income investment managers with thousands of professionals around the world united in a single purpose: creating opportunities for our clients in every environment. Since 1971, we have brought innovation and expertise to our partnership with the institutions, financial advisors and millions of individual investors who entrust us with their assets. We aspire to cultivate performance and leadership through empowering our people, diversity of thought, and a commitment to an inclusive culture that engages in our global communities.

Position Description:

PIMCO is recruiting master's students for a variety of roles across our Portfolio Management Group, more details on each below.

Portfolio Management
Analytics: The team works closely with Portfolio Management in providing quantitative input to PIMCO's investment process by developing models for alpha generation as well as managing risk. The group partners with both discretionary and quantitative portfolio managers across all asset classes. Members of the team work either as experts in individual markets such as e.g. credit, rates, or mortgages, or one of the more cross-market roles such as e.g. asset allocation, portfolio construction, or execution. Technical tasks include performing econometric analyses of historic returns, building empirical and risk-neutral valuation models, applying macroeconomic research, or analyzing large sets of transaction data with a view to improving trade execution.

Quantitative Strategies: The team focuses on the development and implementation of quantitative trading strategies. In managing the implementation of various strategies, tasks includes generating trades by running code or spreadsheet, sending those trades to specialist desks for execution, making sure trades are allocated appropriately, verifying theoretical model positions with actual portfolio holdings, and looking at actual realized returns vs theoretical expectations. Team members perform research and backtest different trading strategies across various asset classes and test improvements for existing strategies. This involves working with specialist PMs in order to understand how market trades and building strategies to systematically capitalize on inefficiencies in addition to more exploratory work of looking for inefficiencies using statistical or other approaches. The group assists in the portfolio construction process and vetting of future strategies.

Risk Management: The team works across Portfolio Management to ensure that portfolio risk exposure is consistent with the firm's economic outlook, the intended risk-return profile of each mandate, and the philosophy and preservation of our client's capital. Risk managers review portfolio composition and concentrations, and manage associated risk by analyzing and identifying risk issues in the form of market risk (including counterparty risk) and initiating change where necessary through dialogue with other portfolio managers. Interns will work to develop analysis/reporting tools in Excel, VBA and by accessing databases (SQL), conduct reviews of historical and current performance and dispersion in the portfolios to identify market trends and perform detailed portfolio reviews, including reviews of trade types, layering, and analysis of line items. The team also supports client facing account and product managers on risk-related questions and attend client meetings to present PIMCO's approach to risk management.

To Apply : Please upload your resume here and include a brief cover letter confirming the group(s) you would be interested in.

Position Requirements:

Requirements :
• Quantitative Master's degree (financial engineering or other technically demanding program such as theoretical physics or math) with an expected graduation date of December 2022 -June 2023
• Bachelor's degree focus in Finance, Economics, or other technical degree is preferred.
• Minimum 3.2 cumulative collegiate grade point average, on a 4.0 scale or the equivalent, at an accredited 4-year college or university
• Fluent in English (speaking, reading, writing)

Positions are located in Newport Beach, CA.

Desired candidates should possess the following skills and characteristics:
  • Interest & background in finance theory, especially portfolio theory, asset allocation techniques, option pricing, and asset pricing.
  • Programming skills and numerical problem solving techniques; training & experience with Python, Matlab, SAS, C++, or other related language. SQL knowledge preferred.
  • Formal training in Econometrics is desired, particularly time series econometrics such as vector auto regression, error correction models, Kalman filtering techniques, etc.
  • Comfortable working with large data sets, both structured & unstructured
  • Good exposure to & knowledge of financial markets
  • Ethical, intellectually curious, collaborative, organized, flexible, high energy, self-starter, accountable, humble


Benefits:

PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and well-being of you and your family. Benefits vary by location but may include:
  • Medical, dental, and vision coverage
  • Life insurance and travel coverage
  • 401(k) (defined contribution) retirement savings, retirement plan, pension contribution from your first day of employment
  • Work/life programs such as parental leave and support, employee assistance plan, commuter benefits, health club discounts, and educational/CFA certification reimbursement programs
  • Community involvement opportunities with The PIMCO Foundation in each PIMCO office

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