Market Risk Analyst

About AQR Capital Management

AQR is a global investment management firm built at the intersection of financial theory and practical application. We invest on behalf of our clients — including institutional investors, such as pension funds, defined contribution plans, insurance companies, endowments, foundations, family offices and sovereign wealth funds, as well as RIAs, private banks and financial advisors.

Our commitment to these clients is to help them exceed their long-term objectives. We do this by filtering out market noise to identify and isolate what matters most, and by implementing ideas that stand up to rigorous testing.

Our focus on research-driven, practical insights powered by advanced technology, economic intuition and firm-wide risk management, has made us leaders in alternative and traditional strategies and explains why so many types of investors seek our expertise in meeting their financial challenges.

About The Team

AQR’s Risk Management team has direct day-to-day responsibility for managing the market, credit, liquidity, model and counterparty risks of firm-managed investments. Within the Risk team, the Market Risk team has direct responsibility for monitoring and managing market and liquidity risk across all asset classes and portfolios managed by the Firm.

The team interacts closely with portfolio managers in setting and monitoring limits, preparing reports, and making risk management recommendations. The team is also responsible for developing and enhancing the firm’s risk methodologies and analytics and works closely with our own technology team to implement these. Methodologies range from risk models, stress tests, scenario analysis, hedging analytics, to event analysis.

The risk team is also critically responsible for producing a wide range of internal, client, and regulatory reports that support all the risk activities of the firm.

Your Role

Our team is looking for an exceptionally talented Market Risk Analyst.  This role will support all aspects of the Risk Team’s daily market risk activities.  This includes monitoring the firm’s portfolios, running systematic daily risk control processes and helping with risk reporting. The Analyst will also be responsible for investigating risk issues, working with PMs across the firm, and formulating consistent courses of action. The role will include research and development of risk methodologies and conducting quantitative investigations.  

Responsibilities include:

• Bring a common sense and practical approach to all market risk-related issues, as well as an understanding of the firm’s many investment strategies and products
• Monitor investment and market risk across portfolios and asset classes
• Support daily risk review processes, including limits monitoring and related escalation procedure
• Review and record all risk determinations, ensure the timely execution of determinations and document the review process
• Conduct quantitative research to develop and improve risk management methodologies
• Organize, manage, and streamline internal risk reports and support the risk reporting needs of the firm
• Support daily systematic risk control processes; manage exceptions and handle escalations
• Review different types of models used at AQR, including alpha generating, portfolio management and risk models
• Work closely with other teams across the organization to ensure that these functions and Risk Management are well coordinated on a daily basis

What You’ll Bring

• Bachelor’s or master’s degree in a financial or quantitative field
• Strong understanding and interest in markets and risk management
• Excellent analytical, problem-solving and critical thinking skills
• 1-3 years of experience in an investment management firm or an investment bank
• Familiarity with financial instruments and risk metrics (e.g., beta, volatility, VaR, option Greeks)
• Prior experience using a high-level programming language (e.g., Python) as a statistical modelling and research tool
• Strong interpersonal communication skills 

Who You Are

• Committed to intellectual integrity, with a high degree of ethics
• Mature and thoughtful, with the ability to operate within a collaborative, team-oriented culture
• Hard working and eager to learn in a highly intellectual, innovative environment
• Well-organized, detail-oriented; able to multi-task and keep track of various deadlines
• Look beyond the surface level to understand the underlying details