Quantitative Financial Analyst I

About the Role

The Quantitative Developer builds, tests, and maintains financial models, calculation libraries, and data pipelines that power Clearwater’s analytics. This is an early-career opening for candidates completing a master’s program in a quantitative field. Quantitative Developers will learn Clearwater’s financial models and data model, implement calculations as tested and reviewed code alongside software engineering teams, and grow into ownership of a domain over time. The role blends applied quantitative finance with hands-on software development.

Key Responsibilities

• Assist senior Quantitative Developers and Quantitative Financial Analysts in researching and implementing new calculations as part of larger projects.
• Write clear, tested Python that follows team standards and contribute to shared libraries and internal tooling.
• Accurately replicate existing mathematical models in Excel and Python, including client analytics tie-outs.
• Perform acceptance, regression, and integration testing of financial models using existing automated testing frameworks.
• Write, read, and edit SQL queries to extract security, position, and market data for model inputs, validation, and ad-hoc analysis.
• Implement numerical and statistical methods—Monte Carlo simulation, solvers and root-finding, interpolation—under the direction of more senior team members.
• Build and maintain components of the data pipelines that source, normalize, and validate data consumed by financial models.
• Research and learn the data model for your domain, including the data consumed and produced by the code base.
• Assist operations teams in understanding how data inputs impact calculations and assist developers in analyzing unexpected regressions for code changes.
• Identify and build small automations, including the effective use of AI-assisted development tools, to simplify recurring analytical, validation, and documentation work.
• Proactively update internal documentation to reflect new features and calculation methodology.
• Answer questions within your domain about calculation methodology for internal stakeholders and communicate findings clearly to non-technical audiences.
• Continuously build domain knowledge and stay current with quantitative analysis techniques and software engineering practices.

Requirements & Tech Stack

• Master’s degree, completed or to be completed before the start date, in Financial Engineering, Finance, Economics, Engineering, Mathematics, Statistics, Physics, Computer Science, or a similar quantitative field.
• Demonstrated programming ability in Python, including writing reusable functions and modules, working with structured data, and implementing financial or mathematical calculations.
• Strong quantitative foundation including probability, statistics, linear algebra, and numerical methods.
• Foundational understanding of financial markets, instruments, and investment strategies.
• Strong written and verbal communication skills, including the ability to explain quantitative work to non-technical audiences.
• Receptive to direction and feedback, and willing to escalate roadblocks early.

Desired Experience Or Skills

• Exposure to SQL and relational databases.
• Familiarity with version control (Git) and collaborative software development workflows.
• Internship, co-op, or research experience in financial services, fintech, or quantitative research.
• Coursework or research in Fixed Income Securities and Risk Analytics, including cash flow analysis, OAS, duration and convexity.
• Coursework or research in Stochastic Modeling of Financial Markets.
• Interest rate modeling (e.g., Hull-White, HJM, LIBOR Market Model) and model calibration.
• Exposure to Derivatives Pricing Models and computing Implied Volatility.
• Proficiency with scientific Python libraries (NumPy, pandas, SciPy).
• Experience building data pipelines that source and normalize data from multiple systems or vendors.
• Advanced Excel modelling.
• Effective use of AI coding assistants and LLM-based tooling within a development workflow.
• Familiarity with automated testing frameworks and the software development process, i.e. Agile.
• Progress toward or completion of the CFA, FRM, or CQF.