Role Summary

Vera manages an in-house securities and commodities book across various market instruments. We are looking for a quantitatively strong Research Analyst to own the research, data and monitoring layer behind this book tracking positions, building and maintaining analytical models in Excel, screening opportunities, and producing the daily and weekly reporting that management uses to size and adjust exposure.

This is a proprietary, in-house research role. The analyst supports the firm's own capital and internal decision-making only. The role suits someone who is genuinely interested in markets, comfortable living inside spreadsheets and data, and able to reason about risk in numbers rather than narrative.

Key Responsibilities

1. Portfolio Monitoring & Reporting

- Maintain the master position and P&L; workbook covering multi-sector portfolio positions.
- Produce a daily position/exposure summary and a weekly one-page dashboard covering sector weights, concentration, mark-to-market P&L;, drawdown, and stop levels.
- Reconcile broker statements, contract notes and ledger balances against internal trackers; investigate and resolve every variance before reporting.

2. Equity Research & Screening

- Track quarterly results, management commentary, order books, promoter/institutional shareholding changes and corporate actions for holdings and watchlist names.
- Run periodic screens on valuation, earnings growth, margin trends, debt and cash-flow quality to generate a shortlist of candidates for review.
- Maintain sector notes: demand drivers, input costs, capacity, regulatory changes, and the two or three variables that actually move each sector.

3. Commodity & Macro Research (Bullion focus)

- Track the macro drivers of gold and silver: US real yields, DXY, Fed policy expectations, ETF flows, central bank buying, INR, and MCXinternational spread.
- Maintain a calendar of scheduled data releases (CPI, FOMC, NFP,



inventory data) and flag events that create positioning risk.
- Monitor futures term structure, roll costs, and options implied volatility.

4. Quantitative & Strategy Support

- Assemble and clean historical price data (daily and intraday) for backtesting and analysis.
- Build and maintain Excel models for position sizing, volatility and ATR calculations, strategy payoff and scenario analysis (including options structures and grid/averaging strategies).
- Compute and report strategy performance statistics: expectancy, win rate, average win/loss, maximum drawdown, CAGR, Sharpe/Calmar.
- Stress-test open positions against defined adverse scenarios (e.g. gap moves, volatility spikes) and report worst-case exposure.

5. Risk & Process Discipline

- Track exposure against pre-agreed limits: per-position risk, single-name and sector concentration, gross and net exposure, margin utilisation and free cash.
- Raise limit breaches and data anomalies immediately rather than at month-end.
- Document methodology so that every number in a report can be traced back to source data.

6. Cross-Functional Support

- Support Finance,Tech and Accounts with trade data, realised/unrealised P&L; splits and tax-relevant reporting inputs.
- Support management with ad-hoc analysis on capital allocation between various trading strategies and books building.

Preferred candidate profile

Experience

- 2-5 years in equity research, commodity research, buy-side/sell-side analysis, a proprietary or family-office trading desk,



fund operations, or a quantitative/data analyst role with markets exposure.
- Candidates with solid personal market involvement and demonstrable analytical work will be considered at the lower end of the experience band.

Mandatory

- Advanced Excel: XLOOKUP / INDEX+MATCH, SUMIFS / COUNTIFS / AVERAGEIFS, IFERROR / IFNA, absolute vs relative referencing, Excel Tables and structured references, PivotTables (including Show Values As), conditional formatting, charting, STDEV.S, CORREL, XIRR, date functions. Ability to build a clean, auditable multi-sheet workbook without hard-coded values.
- Statistics: mean/median/standard deviation, volatility and annualisation, correlation and beta, distributions, CAGR vs average return, drawdown mathematics, basic probability and expected value.
- Instrument literacy: NSE cash market mechanics and settlement, futures and options contract specifications, margining (SPAN, exposure, ELM, MTM), MCX bullion contract specs (Gold 1 kg / Mini 100 g, Silver, tick size, quote convention, delivery and expiry mechanics), option greeks at a working level.
- Data handling: sourcing and cleaning price, corporate-action and fundamental data; handling missing data, splits/bonuses, and adjusting series correctly.

Behavioural Requirements

- Numerical accuracy as a non-negotiable habit the ability to check your own work and catch your own errors before they reach a report.
- Intellectual honesty: willingness to present data that contradicts an existing position or a senior view.
- Comfort with routine. A large part of this role is doing the same reconciliation and reporting cycle correctly, every single day.
- Clear written communication: able to compress an analysis into a five-line summary with the conclusion first.
- Discretion. The role involves access to confidential financial positions.

📌 Research Analyst Equity & Commodity Markets (Zirakpur)
🏢 Vera Developers
📍 Zirakpur