Fixed Income Assoc. Director - Quant

At U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at-all from Day One.

Job Description

Role Overview

We are seeking a Front Office Data Scientist/ Quantitative Developer to support our Credit Trading business, with a focus on electronic trading, client flow, and automated pricing. This role sits directly on the Credit trading desk, working closely with Traders, Sales, and Electronic Trading teams to develop quantitative models and analytics that enhance pricing, execution quality, risk management, and liquidity provision.

The ideal candidate combines a strong financial engineering background, deep understanding of credit products and bond mathematics, and hands-on programming expertise to build models that operate in high‑throughput, real‑time trading environments.

Key Responsibilities

• Partner directly with Credit Traders and Sales to support:

• Electronic market making

• Automated pricing and quote generation

• Design, implement, and maintain quantitative models for:

• Corporate bond and credit curve pricing

• Spread, relative value analytics

• Inventory management and hedging strategies

• Develop and maintain back‑testing and simulation frameworks for credit trading strategies, pricing models, and execution logic

• Analyze large volumes of electronic trading data, including client RFQ flow, hit ratios, quote competitiveness, and liquidity metrics

• Optimize models for latency‑sensitive and production trading systems

• Translate research prototypes into robust, production‑ready tools embedded in electronic trading and risk platforms

• Monitor and recalibrate models based on:

• Market regime changes

• Liquidity conditions

• Client behavior and flow dynamics

• Collaborate with technology, quants, and risk partners to ensure scalability, resiliency, and regulatory alignment

Required Qualifications

• Master's or PhD in Financial Engineering, Quantitative Finance, Mathematics, Statistics, Physics, Computer Science, or a related field

• 5-7 years of relevant experience

• Strong understanding of Credit markets and bond mathematics, including:

• Corporate bonds, IG and HY markets

• Z‑spreads, OAS, duration, convexity, DV01

• Discounting, curve construction, and term structures

• Hands-on programming experience in Python and/or C++, applied to:

• Pricing and analytics libraries

• Back‑testing and simulation frameworks

• Performance‑sensitive, production trading systems

• Demonstrated experience with:

• Model calibration, optimization, and validation

• Quantitative analysis of market and trade data

• Solid foundation in probability, statistics, numerical methods, and time‑series analysis

Preferred / Nice-to-Have Skills

• Prior experience supporting a sell‑side Credit trading desk

• Strong familiarity with electronic credit trading protocols, such as:

• RFQ and streaming markets

• Client quote distribution and scorecards

• Experience with execution analytics, transaction cost analysis (TCA), or liquidity modeling in credit

• Knowledge of pricing engines, curve frameworks, and risk systems used in front‑office environments

• Experience with cloud platforms (AWS, Azure, or GCP)

• Exposure to MLOps practices, including:

• Model versioning and governance

• Automated deployment and monitoring

• Understanding of market microstructure and liquidity dynamics in less‑liquid asset classes

Front Office Skills & Attributes

• Commercial mindset with clear awareness of desk P&L, risk limits, and client expectations

• Ability to operate under real‑time market conditions and time pressure

• Comfortable engaging directly with Traders and Sales on trading floor priorities

• Strong communication skills, able to explain quantitative concepts succinctly to non‑quants

• High ownership, accountability, and attention to detail

Why Join Us

• Direct impact on credit pricing, electronic execution, and trading performance

• Close alignment with front‑office Credit Traders and electronic trading leads

• Rapid path from research to production in a live trading environment

• Platform for growth within front‑office quantitative and electronic trading roles

If there's anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits:

Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

• Healthcare (medical, dental, vision)

• Basic term and optional term life insurance

• Short-term and long-term disability

• Pregnancy disability and parental leave

• 401(k) and employer-funded retirement plan

• Paid vacation (from two to five weeks depending on salary grade and tenure)

• Up to 11 paid holiday opportunities

• Adoption assistance

• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $126,820.00 - $149,200.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.