Nicholas Eterovic

Quantitative Researcher - Millennium

What is your educational and professional background?

I completed a BSc in Mathematics and Statistics at the University of Bath, followed by the MSCF at Carnegie Mellon University. I then worked at Barclays Investment Bank in the equity central risk book trading team for three years. I have since worked at Millenium for another three years.

Why did you pursue the MSCF degree?

Although my BSc provided a strong understanding of probability and statistics, near graduation I realized I lacked finance and programming skills necessary to translate theory into practice. I decided to pursue further education and was recommended the MSCF program. It was described as intellectually challenging, with a wide breadth of quantitative finance subjects covered with rigorous depth. I was convinced and can say with hindsight that it met and exceeded my expectations.

Describe your role and the most fulfilling aspects of your job.

I work in a trading team in Millennium’s Quantitative Strategies division together with other researchers, developers, and our portfolio manager. My role is to continuously improve our forecasts of return, risk, and
liquidity that feed into our systematic strategies. A fulfilling aspect of my job is the constant idea generation and implementation that it demands. The small and flat team structure encourages sharing these ideas and
collaboration.

What are the most important skills required for success in your role/job?

Logical thinking is fundamental to the role of a researcher; to understand which assumptions are reasonable and working from them to validate hypotheses. Being humble enough to admit insufficient knowledge is equally important, as it shows conviction when you answer and builds trust with
others in your team.

How did the MSCF program prepare you for your career?

The program not only gave me a strong toolkit of knowledge but also developed a high work ethic to solve problems in the quantitative finance space. It is fulfilling that after six years in the industry that I continue to find practical applications of the content taught by the program’s varied courses in markets, programming, mathematics, and machine learning.

What advice would you give to someone considering the MSCF program?

To recognize that the MSCF program is more than just education; it is designed to launch your career in quantitative finance. I encourage that you make full use of its career and alumni services to maximize your chances of landing your ideal role.