Structured Credit Quant Analyst - London, United Kingdom - Convergence

Description

Job Description

Convergence:

Convergence is a rapidly growing insurtech startup transforming the insurance industry with a sharp focus on insuring credit risk. Our innovative approach transfers risk from bank clients to (re)insurers, achieving regulatory capital relief and risk-adjusted return benefits for clients. As an innovative player in the structured credit insurance market, we offer an exciting opportunity to shape the future of credit and political risk insurance.

Role Overview:

We are seeking a dynamic and skilled Structured Credit Quant Analyst to join our team. This role is crucial in supporting our expanding structured credit underwriting business, encompassing a variety of complex transactions like Corporate Credit Securitisations, Significant Risk Transfer, ABS etc. You will be a key contributor to our investment and risk assessment process, requiring a blend of analytical expertise, quantitative modelling, and proactive problem-solving.

Key Responsibilities:

• Develop and refine deterministic and probabilistic portfolio credit risk models (e.g., CreditRisk+, CreditMetrics etc.)
• Lead the development and implementation of risk mitigation strategies to manage portfolio risks effectively, including the design of stress testing scenarios and analysis of potential impacts on the portfolio under various market conditions.
• Engage in comprehensive analysis covering loss distribution, pricing, and deal structure reviews.
• Take ownership of exposure, aggregation management, and risk reporting.
• Monitor macro-economic trends and their potential impact on our underwriting strategies.
• Streamline and automate various analytical processes.

Qualifications:

• 1 -3 years relevant professional experience. Grads will also be considered.
• A 2.1 degree (or higher) in a numerical discipline (mathematics, statistics, physics, computer science, etc.) from a top-tier university. A Master's degree is preferred but not essential.
• A strong understanding of graduate level statistics
• Knowledge of data interpretation and management - SQL or equivalent database knowledge is a plus.
• Expertise in Excel and at least one programming language (Python is strongly preferred but not required)

Personal Attributes:

• Strong demonstrable interest in economics and finance.
• Innovative and adaptable, thriving in a fast-paced startup environment.
• Independent, with a knack for taking initiative in a small, agile team.
• Curious and wanting to experiment with new ideas and techniques.
• Analytical mindset with strong problem-solving capabilities.
• Excellent communication skills, capable of explaining complex concepts clearly.
• Be "80/20", continuously thinking about what is most important / what moves the needle and applying their time and focus accordingly.
• Be passionate about driving growth and success for the firm, as well as driving their own personal and professional growth.

What We Offer:

A chance to be part of a growing startup at the forefront of insurtech innovation. Opportunities for professional growth and leadership in a transformative field. A collaborative and dynamic work culture where your contributions have a direct impact.

Generic Tasks:

Conduct Standards – Tier 1

All Staff – to comply at all times with the PRA/FCA's Conduct Standards, namely:

• You must act with integrity.
• You must act with due skill, care and diligence.
• You must be open and co-operative with the FCA, the PRA, and other regulators.
• You must pay due regard to the interests of customers and treat them fairly.
• You must observe proper standards of market conduct.