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by CommodityQuant
March 8th, 2024, 5:51 pm
Forum: Careers Forum
Topic: Wealthy bank but no headcount
Replies: 0
Views: 195

Wealthy bank but no headcount

I am a quant contractor who was told that my contract will not be renewed at the end of this month although my performance has been excellent. The reasons are budgetary -- the bank has cut a lot of contractor positions even though the bank made enormous profits. However, I see some essential quant t...
by CommodityQuant
June 6th, 2023, 5:14 pm
Forum: General Forum
Topic: RFP databases for quant-related projects
Replies: 2
Views: 3381

Re: RFP databases for quant-related projects

One idea: there are searchable databases for US gov't rfp's, which contain stuff like  this   Thank you very much for your feedback.   I am now in contact with the sales team of a company who provide professional RFP solutions. I hope their prices are within range so I can make the case to my boss....
by CommodityQuant
June 6th, 2023, 11:04 am
Forum: General Forum
Topic: RFP databases for quant-related projects
Replies: 2
Views: 3381

RFP databases for quant-related projects

I work for a consultancy, and am looking for advice (or leads) on the problem of obtaining databases (or even examples) of RFPs (requests for proposal) from banking or other potential financial clients. The purpose is to build an RFP library of questions and answers to quant  project proposals in or...
by CommodityQuant
April 30th, 2023, 9:24 pm
Forum: General Forum
Topic: What do "Head Quants" actually do?
Replies: 45
Views: 15931

Re: What do "Head Quants" actually do?

what kind of organizations is being discussed in this thread please? banks? I was thinking in the context of major banks, but all the replies have been interesting. I'm a quant with little managerial experience, myself. With regard to smaller organisations (for example sports bookmakers), the head ...
by CommodityQuant
April 30th, 2023, 12:36 am
Forum: General Forum
Topic: What do "Head Quants" actually do?
Replies: 45
Views: 15931

Re: What do "Head Quants" actually do?

Could a former head quant be too? I don't understand your question. CommodityQuant Some of us used to be head quants. Irrelevant, where Cuch steps the grass does not grow and there is no more discussion. I think that, in this context, "head quant" is kind of an umbrella term that encompas...
by CommodityQuant
April 29th, 2023, 11:28 am
Forum: General Forum
Topic: What do "Head Quants" actually do?
Replies: 45
Views: 15931

Re: What do "Head Quants" actually do?

Could a former head quant be too?
I don't understand your question.

CommodityQuant
by CommodityQuant
April 27th, 2023, 9:18 pm
Forum: General Forum
Topic: What do "Head Quants" actually do?
Replies: 45
Views: 15931

Re: What do "Head Quants" actually do?

This thread has attracted more interest than I expected.
It's been particularly interesting to hear from actual Head Quants.
Thanks to all of you for your thoughts.

CommodityQuant
by CommodityQuant
April 20th, 2023, 2:25 pm
Forum: General Forum
Topic: What do "Head Quants" actually do?
Replies: 45
Views: 15931

Re: What do "Head Quants" actually do?

Banks are hierarchical structures and there MUST be someone like a head quant, if quants are in a separate department. Sometimes they are competent, sometimes not. Sometimes they are useful, sometimes not. One thing I am absolutely sure of - this situation is better than having the quants be just a...
by CommodityQuant
April 20th, 2023, 10:28 am
Forum: General Forum
Topic: What do "Head Quants" actually do?
Replies: 45
Views: 15931

Re: What do "Head Quants" actually do?

CommodityQuant, I don't know how long you've been in the industry, but I remember the 90s when there were no quant departments and traders were your bosses. A trader 20Y younger than you, not knowing anything but with lots of adrenaline decided what you should do and shouted at you when he/she (oh ...
by CommodityQuant
April 20th, 2023, 9:02 am
Forum: General Forum
Topic: What do "Head Quants" actually do?
Replies: 45
Views: 15931

Re: What do "Head Quants" actually do?

Of course a Head Quant would know what the Crank Nicholson method is. But a truly useful Head Quant would also never elevate technique above need or output, and that is appropriate given that code is rarely the foundation of success in this business.  DavidJN, Your postings on this seem accurate. I...
by CommodityQuant
April 18th, 2023, 1:46 pm
Forum: General Forum
Topic: What do "Head Quants" actually do?
Replies: 45
Views: 15931

Re: What do "Head Quants" actually do?

How many heads know the Crank Nicholson method? None of them.  But it is likely that many of them learned it at some point in their careers.  It's amazing (to me) how completely uninterested they are in anything quant-related (coding, maths etc.) and are interested only in bureaucratic and administ...
by CommodityQuant
April 18th, 2023, 10:01 am
Forum: General Forum
Topic: What do "Head Quants" actually do?
Replies: 45
Views: 15931

Re: What do "Head Quants" actually do?

Management of models - which to implement, which to document and maybe implement in the future, which to forget. You don't imagine how stupid quants may be! That's what I would expect them to do, and it might indeed be the norm.  However, in my limited experience, that's exactly what they don't do....
by CommodityQuant
April 18th, 2023, 9:56 am
Forum: General Forum
Topic: What do "Head Quants" actually do?
Replies: 45
Views: 15931

Re: What do "Head Quants" actually do?

I'll bite. Management responsibilities - variety of attestations and sign-offs that impact financial reporting Revenue – imho a good Head Quant would be well utilized in deal level approval committees, to keep the business people under scrutiny Publicity - speaking engagements, trade press intervie...
by CommodityQuant
April 17th, 2023, 6:17 pm
Forum: General Forum
Topic: What do "Head Quants" actually do?
Replies: 45
Views: 15931

What do "Head Quants" actually do?

I've recently finished reading "Bullshit jobs" by David Graeber, and it makes the case (not necessarily correctly)  that middle managers don't actually do any necessary work. I would think that, at a large bank (for example) the "Head of Quantitative Development" (or similar titl...
by CommodityQuant
January 25th, 2023, 10:17 am
Forum: Careers Forum
Topic: C++ Quant dev interview
Replies: 3
Views: 4675

Re: C++ Quant dev interview

Thanks for your reply.  It doesn't talk about the version of C++.  I'd assume at least C++11 but you would know better than me. By PM, I could tell you the exact text of the posting.  (I'm not making the job posting public in order to try and avoid adding more competitors against me.) [However, if I...
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