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Backtesting Jobs in Illinois (NOW HIRING)

Participate in special projects (e.g., backtesting surveillance logic, data quality audits, automation of repetitive workows, and retrospective reviews). Skills and Experience: 2+ years of experience ...

Oversee or conduct stress testing and backtesting relevant to market and technology risk, and maintain the risk register with clear escalation of significant events to the CEO and regulatory ...

Systems Engineer

Chicago, IL · On-site

$150K - $300K/yr

Own and evolve Aquatic's Slurm and Ray cluster infrastructure across on-prem and GCP - supporting research and trading workloads including fitting, tuning, backtesting, feature computation, and ...

... backtesting surveillance logic, data quality audits, automation of repetitive workflows, and retrospective reviews). Skills and Experience: • 2+ years of experience in the securities/trading ...

Chief Risk Officer

Chicago, IL · On-site

$150 - $200/hr

Oversee or conduct stress testing and backtesting relevant to market and technology risk, and maintain the risk register with clear escalation of significant events to the CEO and regulatory ...

Founding Data Scientist

Chicago, IL · On-site

$180K - $240K/yr

You'll build the offline evaluation and online experimentation that answers that: backtesting against real outcomes, measuring lift, and catching drift before customers do. You'll define the metrics ...

Showing results 41-56

Backtesting information

What is backtesting?

Backtesting is the process of evaluating a trading strategy or investment model by applying it to historical market data. This helps traders and analysts see how the strategy would have performed in the past, which can provide insights into its potential effectiveness and risks. While backtesting can help identify strengths and weaknesses, it's important to remember that past performance is not always indicative of future results. The reliability of backtesting depends on data quality, strategy design, and how well it simulates real trading conditions.

What skills and qualifications are needed to thrive as a backtesting analyst?

To thrive as a Backtesting Analyst, you need a strong background in quantitative analysis, statistics, programming (typically in Python or R), and familiarity with financial markets, usually supported by a degree in mathematics, finance, or a related field. Proficiency with backtesting platforms (such as QuantConnect or Zipline), data analysis tools, and version control systems like Git is often required. Attention to detail, critical thinking, and strong problem-solving abilities are key soft skills that help ensure robust model evaluation and development. These skills are vital for accurately assessing trading strategies and minimizing risk in real-world financial applications.

What are common challenges faced when backtesting trading strategies, and how can they be managed?

One common challenge in backtesting trading strategies is the risk of overfitting, where a model performs exceptionally well on historical data but fails in live markets. Data quality and availability can also pose issues, as incomplete or inaccurate data may skew results. To manage these challenges, it's important to use out-of-sample testing, robust data cleaning processes, and to validate strategies on multiple datasets. Collaborating with quantitative analysts and developers can also help ensure the backtesting process is thorough and reliable.

What is the difference between Backtesting vs Quantitative Analyst?

AspectBacktestingQuantitative Analyst
Primary RoleTesting trading strategies using historical dataDeveloping and implementing quantitative models for investment decisions
Required SkillsData analysis, programming, finance knowledgeMathematics, programming, financial theory
Work EnvironmentTrading firms, hedge funds, financial institutionsAsset management firms, hedge funds, banks
CertificationsOften none required, but CFA or CQF helpfulCFA, CQF, or advanced degrees common

Backtesting focuses on evaluating trading strategies with historical data, while a Quantitative Analyst develops models to inform investment decisions. Both roles require strong analytical skills and finance knowledge but differ in scope and responsibilities.

What cities in Illinois are hiring for Backtesting jobs?

Cities in Illinois with the most Backtesting job openings:

$128 - $209/hr

Other

Medical, Dental, Vision, Life, Retirement, PTO

Posted 6 days ago


Job description

Career Area:

Technology, Digital and Data

Job Description:

Your Work Shapes the World at Caterpillar Inc.

When you join Caterpillar, you're joining a global team who cares not just about the work we do – but also about each other. We are the makers, problem solvers, and future world builders who are creating stronger, more sustainable communities. We don't just talk about progress and innovation here – we make it happen, with our customers, where we work and live. Together, we are building a better world, so we can all enjoy living in it.

Cat Digital is the digital and technology arm of Caterpillar Inc., leveraging the latest technologies to build industry leading digital solutions for our customers and dealers. With over 1.5 million connected assets worldwide, our teams use data, technology, advanced analytics, telematics and AI capabilities to help our customers build a better, more sustainable world.

Job Summary:

The Cloud Analytics Engineering team within Advanced IoT Analytics is seeking a talented and motivated Lead Data Scientist to lead important projects in electrification, aftermarket analytics, and other corporately strategic analytics focus areas. The high-impact insights found through this role will shape the way that Caterpillar designs future machines & develops innovative solutions for our customers. To accomplish these daunting challenges, this role will require a skillset in advanced statistical techniques (such as machine learning) as well as domain knowledge of heavy equipment.

What You Will Do:
  • Under the direction of their leader, this position will participate on cross-functional project teams, provide overall guidance to the technical direction of the project, and mentor Jr Information Scientists on the technical approaches being used in order to solve a problem presented by a Caterpillar Business Unit or Service Organization, a Caterpillar Dealer, or a Caterpillar Customer.
  • Demonstrate a breadth and depth of knowledge in the application of statistical and/or digital methods to solve business problems
  • Participate on 3-4 projects concurrently
  • Demonstrate thorough knowledge of Caterpillar Inc.; its products and services; its internal systems, processes, and procedures; and its relevant external influences (competitors, laws and regulations, market conditions, etc.)
  • Demonstrate strong initiative to research and apply new methods and digital technologies to exceed customer expectations.
  • Demonstrate significant knowledge in the use of Data Analytics software solutions
  • Significant challenges of this position are working with people; enhancing the team’s creativity; maintaining knowledge of approaches used in similar projects; and pushing the technical bounds of experimentation while meeting customer commitments.
  • Solving the business problem presented through applied analytics.
  • He or she should also have a comprehensive knowledge of Caterpillar Inc.; its products and services; its internal systems, processes, and procedures; and a general understanding of Caterpillar’s external customers, competitors, and market influencers.
What You Will Have:
  • Business Statistics: Knowledge of the statistical tools, processes, and practices to describe business results in measurable scales; ability to use statistical tools and processes to assist in making business decisions.
  • Accuracy and Attention to Detail: Understanding the necessity and value of accuracy; ability to complete tasks with high levels of precision.
  • Analytical Thinking: Knowledge of techniques and tools that promote effective analysis; ability to determine the root cause of organizational problems and create alternative solutions that resolve these problems.
  • Machine Learning: Knowledge of principles, technologies and algorithms of machine learning; ability to develop, implement and deliver related systems, products and services.
  • Programming Languages: Knowledge of basic concepts and capabilities of programming; ability to use tools, techniques and platforms in order to write and modify programming languages.
  • Query and Database Access Tools: Knowledge of data management systems; ability to use, support and access facilities for searching, extracting and formatting data for further use.
  • Requirements Analysis: Knowledge of tools, methods, and techniques of requirement analysis; ability to elicit, analyze and record required business functionality and non-functionality requirements to ensure the success of a system or software development project.
Considerations For Top Candidates:
  • Time-series forecasting & modeling — building and validating multi-horizon (13–18 month) demand forecasts with SARIMAX, gradient/ElasticNet, and ensemble/foundation models, including backtesting, lag-correlation analysis, and MAPE-based model selection.
  • Large-scale data wrangling — efficiently profiling, cleaning, and joining messy multi-source data (500MB+ feeds, 70+ columns, free-text fields) using chunked/memory-aware pandas and reproducible ETL pipelines.
  • Signal fusion & feature engineering — translating external and internal signals (Dodge projects, telematics/VisionLink, STU, CUPA, PINS) into leading indicators at market-region and dealer granularity.
  • Domain-driven classification & rules design — encoding business logic into transparent, tunable models (keyword + facility-propensity scoring, exclusion rules, value tiers) to segment megaprojects and flag opportunities the business trusts.
  • Communication & visualization — producing decision-ready outputs (branded dark-theme charts, geospatial heatmaps, narrative summaries) and grounding analysis in S&OP domain knowledge to drive forecast-improvement decisions.
  • Extensive experience utilizing quantitative analysis
  • Must be comfortable working in industry standard statistics and data visualization packages.
  • Experience in design / development of heavy equipment (ex. automotive, aerospace, engine, transmission, construction, mining, industrial, etc)
  • Extensive experience applying python (NumPy, SciPy, pandas, etc) programming to solve business challenges
  • Experience with cloud technologies (AWS, Azure, Google Cloud, etc)
  • Experience working in a software development environment using GIT, SVN, AZDO, Clearcase, etc
  • Bachelors, Masters, or PhD degree that can include Aerospace, Applied Statistics, Business Analytics, Business Intelligence & Analytics, Computer Science, Computer Science, Engineering (various), Informatics, Information Systems Management, Mathematics
Summary Pay Range:

$128,470.00 - $208,770.00

Compensation and benefits offered may vary depending on multiple individualized factors, job level, market location, job-related knowledge, skills, individual performance and experience. Please note that salary is only one component of total compensation at Caterpillar.

Benefits:

Subject to plan eligibility, terms, and guidelines. This is a summary list of benefits.

  • Medical, dental, and vision benefits*
  • Paid time off plan (Vacation, Holidays, Volunteer, etc.)*
  • 401(k) savings plans*
  • Health Savings Account (HSA)*
  • Flexible Spending Accounts (FSAs)*
  • Health Lifestyle Programs*
  • Employee Assistance Program*
  • Voluntary Benefits and Employee Discounts*
  • Career Development*
  • Incentive bonus*
  • Disability benefits
  • Life Insurance
  • Parental leave
  • Adoption benefits
  • Tuition Reimbursement

* These benefits also apply to part-time employees

Visa Sponsorship is not available for this position.

Posting Dates:

August 11, 2026 - August 21, 2026

Any offer of employment is conditioned upon the successful completion of a drug screen.

Caterpillar is an Equal Opportunity Employer, Including Veterans and Individuals with Disabilities. Qualified applicants of any age are encouraged to apply.

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