Quant Trader- E- Trading Municipal Bonds - Director

Position Overview

Job Title: Quant Trader- E
- Trading Municipal Bonds

Corporate

Title:

Director

Location: New York, NY

The Municipals e‑Trading team, part of the Rates Trading division, is hiring a senior quant researcher focused on automated electronic trading of municipal bonds. The role emphasizes automated pricing, trading, and hedging for municipal bonds in both customer (dealer‑to‑client) and interdealer (dealer‑to‑dealer) markets. It is highly technical, quantitative, and centers on idea generation and data analysis, requiring robust coding skills and a strong analytical background, including statistics.

Experience in automated market making in flow products is essential, while domain specific knowledge in municipal bonds is an advantage.

• A diverse and inclusive environment that embraces change, innovation, and collaboration.
• A hybrid working model, allowing in‑office / work‑from‑home flexibility, generous vacation, personal and volunteer days.
• Employee Resource Groups supporting an inclusive workplace and promoting community engagement.
• Competitive compensation packages including health and wellbeing benefits, retirement savings plans, parental leave, and family building benefits.
• Educational resources, matching gift, and volunteer programs.

• Work as part of the Muni electronic trading team on all aspects of electronic and automatic trading strategy, including customer, competitor and market analysis, algorithm design and implementation, and voice trader partnership.
• Ensure that the reasoning, thought process, and investigation behind all work are well understood and agreed upon.
• Perform quantitative data analysis, model building, and subsequent optimization of pricing and risk management for the client franchise.
• Supervise algorithm book runners, continuously optimize algorithm hyper‑parameters and trading models.
• Ensure compliance with all relevant regulatory aspects of the e‑trading business.

• Work with partners across the bank, including engineering and technology, voice trading, and the broader quantitative trading community to further develop the capabilities of the platform.

• Positive and pragmatic can‑do attitude in all scenarios, from taking initiative as a proactive self‑starter to working well with others in a highly collaborative team.
• Ability to articulate ideas confidently and concisely to enable effective communication across multiple teams and functions.
• Experience in quantitative analysis, trading or research, including subjects such as pricing and risk management for liquid financial markets, balancing the trade‑off between improving research results and translating them into business outcomes.
• Experience in UST bonds and government bond futures and understanding of the institutional bond market is an advantage.
• A good understanding of cross‑asset cash and derivative products, across markets, and the skills to solve complex business problems.

• Relevant analytical and numerate education such as a Bachelor of Science (BSc), Master of Science (MSc), PhD, or equivalent work experience or qualifications.
• Experience in municipal bonds and municipal derivatives and understanding of the institutional bond market is an advantage.
• Excellent presentation skills.
• Strong computing and programming (coding) skills and experience, utilizing programming languages such as KDB/q and Python/R; algorithm coding skills desirable (Java or C++).

It is the bank’s expectation that employees hired into this role will work in the New York, NY office in accordance with the bank’s hybrid working model.

The salary range for this position in New York City is $200,000 to $485,000. Actual salaries may be based on a number of factors including, but not limited to, a candidate’s skill set, experience, education, work location, and other qualifications. Posted salary ranges do not include incentive compensation or any other type of remuneration.

Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status or other characteristics protected by law.

Click these links to view "Deutsche Bank’s Equal Opportunity Policy Statement" and the following notices: "EEOC Know Your Rights"; "Employee Rights and Responsibilities under the Family and Medical Leave Act"; and "Employee Polygraph Protection Act".