For financial institutions hiring entry-level quants, evaluating this bundle of foundational maths-stats-and-finance competencies is often a primary step in the recruitment process.
Vladimir Lucic, head quant at Marex Solutions, built his team from the ground up when the firm expanded into exotic derivatives and market-making. “I have a baseline competence test of old school mathematics that [candidates] have to know if they want to become a quant,” he says. “There’s a fundamental basis of finance that we think is absolutely necessary, no matter what other tools or skills people bring to the team”.
He explains that everybody in his team, senior or junior, will eventually end up reading sophisticated research papers, and they need to understand the mathematics in those papers well enough to be able to reproduce and test them.
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