The Role:
Morningstar Wealth seeks a director to join our Manager Selection team. Reporting to our Head of Manager Selection and working closely with colleagues in the Manager Research team, you will take a lead role in our fund research process, which forms a cornerstone of our Manager Selection Services (MSS). This will include the monitoring of funds as well as contributing to new ideas. Working closely with the other members of the MSS team, you will also be responsible for managing a number of our key client relationships.
You will focus primarily on assessing funds for the team’s Fiduciary Services work, which involves evaluating, selecting, and monitoring funds for use in retirement plan lineups. In our Fiduciary Services work you also will help to develop and promote best practices in retirement plan lineup design and management. You will work closely with members of the Morningstar Retirement team, which provides comprehensive retirement solutions. You also will participate in the broader work of the team, which involves assessing, selecting, and overseeing fund managers and funds to meet a variety of non-retirement portfolio and select-list criteria. This position is based in our Chicago office.
The Responsibilities:
- Comprehensive assessment and oversight of investment offerings (primarily mutual funds), including strategy, management, and firm.
- Coverage of an asset class or subsets of asset classes.
- Work with colleagues in Retirement to provide excellent service to institutional clients, helping meet reporting deadlines.
- Work collaboratively with MSS team and Manager Research analysts to set expectations for fund performance, identify areas of concern, and role in portfolio.
- Contribute to memos and evaluations written quarterly or semi-annually.
- Engage in the creation and ongoing maintenance of defined contribution engagements with plan providers and plan sponsors.
- Periodically develop presentations and present to clients
- Work collaboratively with team to assess and refine selection process on an ongoing basis.
The Requirements:
- 7+ years of experience in evaluating investment strategies from both quantitative and qualitative perspectives, interviewing fund managers, and assessing funds’ long-term prospects.
- Experience working with institutional clients such as retirement plan record keepers, wealth management firms, and broker-dealers.
- Strong writing abilities, excellent quantitative skills, and meticulous attention to detail
- Bachelor's Degree
The Group: The manager selection team draws on core capabilities in manager research to provide innovative investment solutions to institutions, advisors, and investors worldwide. The team serves investors and advisors through its work with institutional clients, providing retirement plan and non-retirement investment selection and oversight services.
Compensation and Benefits
At Morningstar we believe people are at their best when they are at their healthiest. That’s why we champion your wellness through a wide range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:
Financial Health
100% 401k match up to 6% of salary
Stock Ownership Potential
Company provided life insurance - 1x salary + commission
Physical Health
Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages
Additional medical Wellness Incentives - up to $300-$600 annual
Company-provided long- and short-term disability insurance
Emotional Health
Trust-Based Time Off
6-week Paid Sabbatical Program
6-Week Paid Family Caregiving Leave
Competitive 8-24 Week Paid Parental Leave
Adoption Assistance
Leadership Coaching & Formal Mentorship Opportunities
Annual Flex Stipend - $1000 annually to cover personal education & well-being expenses
Tuition Reimbursement
Social Health
Charitable Matching Gifts program
Dollars for Doers volunteer program
Paid volunteering days
15+ Employee Resource & Affinity Groups
Total Cash Compensation Range
$201,450.00-308,900.00Inclusive of annual base salary and target incentive
Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week as we've found that we're at our best when we're purposely together on a regular basis. In most of our locations, our hybrid work model is four days in-office each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.
002_MstarAssocLLC Morningstar Investment Management LLC Legal EntityMorningstar Chicago, Illinois, USA Office
Morningstar Global Headquarters Office
22 West Washington Street, Chicago, IL, United States, 60602
Morningstar’s Chicago office is the company’s headquarters, bringing together teams across research, technology, product, sales, corporate functions, and more. Employees work in a mission-driven culture shaped by independent thinking, openness, and fact-based decision-making, with the energy of a downtown location and opportunities to connect across teams.
Software Engineering
Software engineers at Morningstar build and maintain the applications that power the firm's work, and they do it in a culture built on independent thinking, evidence-based decisions, and continuous learning. Engineers are trusted to bring their own perspective and judgment to how the work gets done. That's not incidental to the culture here; it's central to it.
Product Manager
Product managers at Morningstar sit at the center of decisions that shape what gets built, and how it works. In Chicago, product managers work across areas including Credit Ratings; Data, Analytics & Research; Indexes; Investment Management & Services; and Corporate. Product managers are trusted to define what problems are worth solving and bring their own judgement to every stage of the process.
Research
Research at Morningstar spans markets, asset classes, and disciplines, all connected by the same purpose: give investors what they need to make confident decisions. Our independent research covers equities, managed investments, fixed income, alternatives, private markets, ESG and climate, and credit ratings. Analysts bring their own judgment to complex questions, and that independence is central to how the work gets done.
Similar Jobs at Morningstar
What you need to know about the Chicago Tech Scene
Key Facts About Chicago Tech
- Number of Tech Workers: 245,800; 5.2% of overall workforce (2024 CompTIA survey)
- Major Tech Employers: McDonald’s, John Deere, Boeing, Morningstar
- Key Industries: Artificial intelligence, biotechnology, fintech, software, logistics technology
- Funding Landscape: $2.5 billion in venture capital funding in 2024 (Pitchbook)
- Notable Investors: Pritzker Group Venture Capital, Arch Venture Partners, MATH Venture Partners, Jump Capital, Hyde Park Venture Partners
- Research Centers and Universities: Northwestern University, University of Chicago, University of Illinois Urbana-Champaign, Illinois Institute of Technology, Argonne National Laboratory, Fermi National Accelerator Laboratory
