Full Time
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Job Type

Full Time

Job Details

Credit Analyst, Cap Arb & Converts

Millennium’s Global Risk Management Department is responsible for identifying, measuring, monitoring, managing, and reporting on the risks associated with Millennium portfolios. Our Risk Management organization is designed to accommodate the overall size, nature, and complexity of the firm’s trading activities.

The individual will have responsibility for risk coverage and analysis of portfolios focusing on convertible bonds, capital structure, and arbitrage strategies.

In addition, this individual will need to have the communication and leadership skills to interact with senior management regarding PM performance, work closely with senior members of the Risk Management team, and speak with portfolio managers.


  • Monitor and explain PnL and performance to senior management
  • Apply Risk Management methodology to new products and build out tools from front to back to support the product
  • Communicate and collaborate with technology to specify data sources and methodologies to calculate and display risk exposures
  • Monitor VaR, stress and other risk limits, resolve limit overages, and engage in regular discussions with PMs on positions and portfolios
  • Communicate directly with management when exposures grow beyond established tolerances. Maintain forward outlook on markets and event risk, and warn management ahead of time regarding vulnerabilities across the portfolio
  • Interview prospective PMs and set up and manage limits
  • Evaluate trade ideas and estimate risk capital usage for sizing trades
  • Interact with and advise traders on regular basis
  • Interact with senior management on performance and risk of PMs, give presentations to senior management, and prototype and develop relevant risk systems and risk infrastructure
  • Build and enhance tools and models to manage risks across and explain P&L drivers across products in area of coverage
  • Act as a leader in a team environment

Qualifications/Skills Required

  • At least five years of experience in Fixed Income Analytics/ Risk (preferably Front Office Risk)/Trading at a sell or buy-side firm
  • Knowledge of arbitrage and capital structure products, credit, equities, convertibles, CDS, and trading strategies (preferably in options, credit, or macro)
  • Proven track record of managing risk technology development resources and solving problems
  • Strong interpersonal skills, with the ability to communicate with senior leaders including management and Portfolio Managers
  • High sensitivity to details and strong sense of urgency, and strong organizational skills. Ability to reason through and solve open ended questions

Optional Qualifications/Skills

  • Advanced STEM degree in a technical or quantitative field, such as Financial Engineering, Mathematics, Statistics, or Physics
  • Strong programming skills, including spreadsheet and data analysis, and experience with programming languages (SQL, R/Python, VB/Excel)

Millennium pays a total compensation package which includes a base salary, discretionary performance bonus, and a comprehensive benefits package. The estimated base salary range for this position is $165,000 to $250,000, which is specific to New York and may change in the future. When finalizing an offer, we take into consideration an individual’s experience level and the qualifications they bring to the role to formulate a competitive total compensation package.

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Credit Analyst, Cap Arb & Converts
I'm Interested