Research Director, Rebalancing and Tax-Efficient Methodologies
The Group: The Investment Management group consists of our investment advice and investment management capabilities. Through our registered investment advisor subsidiaries, we use our expertise in asset allocation, manager research, and portfolio construction to create innovative investment solutions for institutions, advisors, and their clients. Everything we do is driven by our independent view, long-term investment approach and desire to always put investors first.
The Role: Morningstar Investment Management seeks a Researcher or Research Director to join our team of quantitative research professionals. This person will help serve as a rebalancing, tax-efficiency capability expert that a) champions the overall capability, b) oversees development of methodologies, and b) helps our various product and service offering teams to leverage those capabilities. The successful candidate will also assist in integrating our investment management team’s portfolio construction approaches with current and new tax-aware rebalancing algorithms. Furthermore, the successful candidate will be able to represent the various capabilities externally (conferences, clients, prospects) and internally (product managers and software developers). The ideal candidate is a blend of quantitative skills that enjoys creating a solution and helping to productize the IP.
Morningstar’s Investment Management’s Research team works with the Morningstar Advice Engines team to build software capabilities that help investors reach their goals by incorporating Morningstar research and methodology into sophisticated analytical engines. These engines power both internal and external applications. As a quantitative analyst, you act as a subject-matter expert on complex investment methodology and rebalancing algorithms, both internally and externally. You will collaborate with research, development, and QA teams to ensure successful product support, development, and growth. If you are looking to apply your investment knowledge with your analytics skills toward the development of differentiated automated investing solutions, this may be the position for you! This position is based in Chicago.
• Serve as an internal and external expert on rebalancing and tax-efficient methodologies.
• Integrate proprietary research and financial planning concepts into a global set of advice engines by working closely with Morningstar research, product managers, and developers to bring intellectual property and new methodology to market.
• Develop an in-depth understanding of Morningstar’s current capabilities around portfolio construction and rebalancing.
• Support internal and external clients through product demonstrations, troubleshooting, methodological proofs, and timely communication.
• Translate product or functional requests from internal and external clients into detailed written specifications and user stories.
• Use data driven decisions to develop and test hypotheses to guide next steps in product development and client support.
• At least four years’ experience modeling, applying, or practicing investment planning and forecasting methodologies (tax modelling, capital markets assumptions, strategic asset allocation, tax-optimized asset location, goal planning, etc.).
• Subject matter expertise on US tax rules, DOL and ERISA is highly desirable.
• Demonstrated skill in at least one statistical package, fluency with quantitative techniques, and familiarity with SQL, and a demonstrated ability to extract data from any relational database.
• Demonstrated ability to visualize data using MATLAB/ R/ Tableau/Python.
• Firm grasp of statistics models and optimization algorithms. Some knowledge and willingness to learn more advanced models (e.g. optimization, Monte Carlo simulations, etc.).
• Understanding of both business and technical requirements, and the ability to serve as a conduit between product, research, technology, and external clients.
• Excellent English-language oral and written communication.
• Bachelor’s degree in finance, economics, mathematics, engineering, computer science or related field is required. A Master’s degree, CFA, CFP, or CPA are all highly desired as is experience as a financial advisor or portfolio manager.
Morningstar is an equal opportunity employer.