Associate, Fixed Income Design, Indices recruitment

Reporting to

Head of Fixed Income Index Research Design

Company overview

Markit is a leading, global financial information services company with over 2,300 employees.  The company provides independent data, valuations and trade processing across all asset classes in order to enhance transparency, reduce risk and improve operational efficiency.  Its client base includes the most significant institutional participants in the financial marketplace. 

Department

Markit Indices

Department overview

Markit Indices is a leading independent provider of financial indices across all major asset classes. We manage and calculate Markit CDX and Markit iTraxx the world’s leading credit derivatives indices and the Markit iBoxx bond indices. Our indices are used by banks, asset managers and other financial institutions to create and manage financial products, investment risk as well as in research. 

The Index research and design team works closely with index clients to design and develop innovative new index solutions to meet investment objectives, including custom, benchmark, tradeable and strategy indices.

Position summary

Markit is looking for a recent graduate to join the Fixed Income Index Research Design team as an Associate. The index research and design team works with clients and the sales team to develop new indices. The role will involve the development, testing and maintenance of new indices primarily for fixed income but also including equities and derivatives.

This is a challenging role which will suit a talented individual with a highly analytical mindset. The successful candidate will be responsible for the life cycle of index development in a fast-paced environment, and gain a thorough understanding of financial products and index clients such as asset managers, ETF providers and structured product desks.

Duties accountabilities

The individual will assist in the index design process for custom and benchmark indices:

-Index setup and calculation: develop calculation prototypes and test cases for new indices; perform test calculations and reconciliation of the calculation with clients

-Index development: perform market analysis and devising new index rules and methodologies

-Index rebalancing: universe screenings, membership list determination and implementation of new memberships

-Quality control: daily checks and testing of index calculation and output files around the release of new indices

-Data management: specify, collect and input data which entails the sourcing, cleaning and organizing of historical time-series or prices and corporate events and static data

-Back testing, index history calculation and reconciliation.

Business competencies

Education and experience

• A recent graduate or equivalent in economics, mathematics or other quantitative discipline.

• A good understanding of financial markets and investment theory, particularly in portfolio management and bond mathematics. Excel, modeling and programming skills are a plus.

Commercial awareness

• The individual needs to be detail oriented enough to build high quality, superior products and is able prioritise multiple projects accordingly.

• A keen interest in the developments and trends within financial markets.

Management requirements

• The individual is expected to be a strong team player, and will be liaising regularly with a variety of internal and external stakeholders.

Personal competencies

Personal impact

• Highly motivated and able to go the extra mile in order to deliver high quality work.

• Must be intellectually curious and eager to learn new concepts and products.

• Organised, energetic and comfortable to work independently.

• Creative and being able to adapt to changing priorities and deadlines in a fast paced environment.

• Posses a high level of attention to detail, focusing on the quality of the work.

Communication

• Needs to possess excellent verbal and written communication skills, as the role will involve regular contact with clients, colleagues within indices and other teams.

Teamwork

• The successful candidate must be able to work in a team environment and is expected to contribute to group discussions.