IEOR - Designing a More Efficient World

Researcher Fulltime — PhDs and Postdocs at Theorem LP

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Employer: Theorem LP

Expires: 07/01/2020

Research @ Theorem for PhDs and Postdoctoral FellowsAt Theorem, we’re passionate about research and science. Research at Theorem entails applying a scientific eye to all research and all business decisions.It’s not just about applying science to data. Theorem researchers are comfortable reading and applying scientific papers. Researchers often explore and apply esoteric statistical and machine learning methods, and may contribute to the development of new methods. Researchers move fluidly between theory and practice, designing and conducting experiments that get at the heart of abstract business problems in the most rigorous way possible. And Theorem researchers apply best practices from academia, contributing regular scientific review meetings and paper discussion groups held weekly within the firm.  What you bring to the tableYou have a high level of mathematical and statistical literacy, and an intense interest in applying quantitative analysis to do first class research.You are a good scientist. You know when you have something and when you don’t. You are not fooled by randomness.You enjoy working with data. This is the lifeblood of our business, where your hypothesis starts and your testing ends.You are creative. You love coming up with original hypotheses to expand and refine your understanding of the world, and a framework to validate them.You’re comfortable writing code. And you’re good enough at it to efficiently explore the model space and find winning ideas.Your research background includes devising novel approaches to solving problems and applying them to real world data to achieve robust, repeatable results.Knowledge of finance is cool – but in no way a requirement.You’re currently a postdoctoral fellow or in the latter stages of a PhD program in science and mathematical disciplines.What you’ll doYou’ll investigate data, construct a hypothesis, and think deeply about the results. When you discover something new, you will apply it and be able to see immediate results.You’ll care more about analysis being correct then achieving a p-value below 0.05.You’ll collaborate with a group of colleagues with a variety of backgrounds in a process of scientific inquiry.By honestly and openly reviewing the work of others, and having your work reviewed by them, you’ll ensure Theorem’s decision-making process adheres to the highest scientific standards. You’ll join us as we use ideas across multiple disciplines: computer science, machine learning, statistics, biostatistics, survival analysis, natural language processing and data science. About TheoremTheorem combines quantitative research, software engineering and rigorous scientific investigation to build credit portfolios that produce strong, consistent returns across the business cycles.Our mission is simple: make credit safe for investors. We do this by using scientific methods to produce a transparent alternative to traditional loan packaging.A non-trivial problem with real world consequenceIn the credit industry, lenders make loans, then package and sell them to investors. Traditionally, these investors buy loan bundles blindly, with little insight into what they are purchasing. And compounding this information asymmetry is a principal-agent problem: lenders profit from selling as many loans as possible.Getting this wrong results in global credit crises.Our solutionTheorem’s team builds predictive models to analyze and price individual loans independently of the lender to determine the following:Loans aren’t fraudulentLoans are underwritten and priced appropriatelyLoans makes sense in the overall portfolioWe analyze hundreds of data points per loan, including credit history, occupational and macroeconomic data, and apply techniques from a large number of disciplines including computer science, machine learning, statistics, biostatistics, survival analysis, natural language processing and data science.This analysis enables our team to purchase millions of dollars of loans daily on behalf of our clients.Over the last 5 years, we have funded over $1BN of loans safely and with confidence, helping borrowers gain access to credit at lower cost. Our goal is to build out our research process and underwriting systems to fund the next $10 billion of loans.Theorem is proud to be an active force for bringing safety to the credit markets. The facts:Founded in 2014 by a Google software engineer and a Morgan Stanley quant trader, we are a Y Combinator backed companyWe are profitable, managing over $1BN dollars, including investment from non-profits and university endowmentsMore about us:We are a small, passionate, and collaborative team — fewer than 40 research, engineering and finance professionals with a diversity of backgrounds and ideasOur portfolio team of researchers and software engineers come from physics, computer science, math and engineering disciplines from CMU, Caltech, Washington, and Georgia TechEvery member of the team has a major impact on the company’s success with visible contributions to the businessWe deeply value intellectual curiosity, creative idea generation, and close collaborationWe seek researchers and engineers who are thoughtful, innovative and tenacious and interested in a mission-focused team environmentWe share ideas informally at team lunches, academic paper discussions, and through our bi-weekly All-Hands meetingsCompany events are inclusive and fun, with expeditions to food trucks and michelin-starred local restaurants, and annual trips featuring hiking and cookingWe are located in SoMa in San Francisco, a vigorous 12-minute walk from BART and CalTrainWe offer competitive salary and opportunity for equity ownership, generous benefits, and an inclusive and collaborative work environmentThe opportunityIntellectually-challenging internships and fulltime research roles for PhD students and post-docs in scientific fields.We invite you to apply if you’re interested in working with collaborative, respectful, eagerly-nerdy individuals who delight in solving hard problems together.  And yes, Theorem is an equal opportunity employer and we provide work authorization sponsorship.