Quant jobs / Millennium

Risk Associate – Equity Volatility

A risk role supporting the equity derivatives portfolios of a volatility business, covering limits, P&L explain and reporting. It also involves prototyping risk tools with technologists.

What you’d work on

Our reading of the posting: what a new hire in this role would most likely spend their first months on.

Monitor VaR, stress and scenario limits and escalate breaches
Analyse and explain P&L drivers
Prepare portfolio risk and capital usage reports
Spot concentrations and event risks
Prototype risk models and tools in Python

What they ask for

Required

4+ years in equity derivatives, structuring, trading or risk
Quantitative and analytical skills
Python
Communication with stakeholders
Willingness to learn from seniors

Preferred

Options, variance swaps, VIX derivatives, delta one, dividends, funding products
Cross-asset exposure in rates, FX or commodities

Education: Not stated
Experience: 4+ years in equity derivatives, structuring, trading or risk
Languages and tools: Python
Markets: equities, options

How to prepare

Build a P&L explain for an option book using Greeks
Compute VaR and stress scenarios for a small vol portfolio
Learn variance swaps and VIX derivatives
Automate a daily risk report in Python

What to study

The Risk Quant roadmap sets out the stages for this kind of role, with free resources for each.

Open the roadmap

Apply

Read the full posting on Millennium’s site before applying: requirements, location and pay can change after we check them.

View the posting on Millennium’s site ↗

SelfMadeQuant wrote this summary from the employer’s public posting, last checked 6 November 2026. SelfMadeQuant isn’t affiliated with Millennium and doesn’t handle applications.