Senior Quantitative Analyst, Rebalancing and Tax-Efficient Methodologies

| Chicago | Hybrid
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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 Senior Quantitative Analyst to join our team of research professionals and partner directly with our portfolio rebalancing product team. This person will help serve as a rebalancing, tax-efficiency capability expert that a) champions the overall capability, b) oversees development of methodologies, and c) translates methodology into product requirements, serving as their embedded subject-matter expert. 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, this candidate will represent and evangelize Morningstar’s tax-aware rebalancing capability externally (conferences, clients, prospects) and internally (product managers and software developers). The ideal candidate has a blend of quantitative and research skills and enjoys following through on solutions to productize IP.

 

Morningstar’s Investment Management’s Research team works with products across the firm 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 can be based in Chicago or Portland.

 

Responsibilities

  • Serve as an internal and external expert on portfolio rebalancing and tax-efficient methodologies.
  • Integrate proprietary research and financial planning concepts into production-ready software services by working closely with Morningstar research, product managers, and developers.
  • Develop an in-depth understanding of Morningstar’s current capabilities around portfolio construction and rebalancing.
  • Partner directly with Morningstar’s rebalancing product capability team as in-house expert, including functionality and methodology within Morningstar Total Rebalance Expert (tRx) software.
  • 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.

 

Requirements

  • 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.

 

 

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Technology we use

  • Engineering
    • C#Languages
    • C++Languages
    • JavaLanguages
    • JavascriptLanguages
    • PythonLanguages
    • RubyLanguages
    • ScalaLanguages
    • SqlLanguages
    • D3JSLibraries
    • ReactLibraries
    • ASP.NETFrameworks
    • Backbone.jsFrameworks
    • Ember.jsFrameworks
    • ExpressFrameworks
    • FlaskFrameworks
    • Node.jsFrameworks
    • PlayFrameworks
    • SpringFrameworks
    • MariaDBDatabases
    • MemcachedDatabases
    • Microsoft SQL ServerDatabases
    • MySQLDatabases
    • PostgreSQLDatabases

Location

22 W. Washington , Chicago, IL 60602

An Insider's view of Morningstar

What does your typical day look like?

Every day is a little different. Our team is focused on POC (Proof of Concepts). My work involves problem-solving, development and software design. I work on the Data collections team, currently most of this involves, on a high level, automating the process currently used to collect data from raw sources through Machine Learning.

Upasna

Software Engineer, Data Collections - AI R&D

How does the company support your career growth?

We believe in promoting from within, based on previous impact to the team. Whenever possible, we will stretch our employees to take on expanded roles that aligns with the career progression they are interested in.

Jeff

Head of Technology and Product

What are Morningstar Perks + Benefits

Morningstar Benefits Overview

At Morningstar, your contributions have meaning and can drive change. Across our 27 offices worldwide, we’ve invested in fostering a community where talented, driven people can grow. Our entrepreneurial spirit and uncompromising ethics guide everything we do. It’s all in the name of empowering investors. Morningstar is proud to offer a comprehensive benefits package to eligible, full-time employees in the United States who work a minimum of 30 hours per week. Our benefits are designed to invest in your -- and your family's well-being, including investments in your health and financial future.

Culture
Volunteer in local community
Morningstar encourages our colleagues to become involved in their communities, by providing paid time off for volunteer activities.
Partners with nonprofits
Open door policy
OKR operational model
Team based strategic planning
Open office floor plan
Flexible work schedule
Morningstar provides employees with a flexible work schedule that includes Summer hours, Work from home, Flexible start and end times.
Remote work program
The safety of our employees is very important to us. We have been operating remotely due to COVID-19.
Diversity
Dedicated diversity and inclusion staff
Mandated unconscious bias training
Morningstar encourages unconscious bias training for all employees, especially managers and hiring personal. We believe that by raising awareness of bias we can decrease its effects.
Diversity manifesto
Diversity employee resource groups
Hiring practices that promote diversity
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Morningstar offers two Flexible Spending Accounts (FSA)— one for healthcare expenses and one for dependent care expenses. You may enroll in both $ determine the contribution amount.
Disability insurance
Dental insurance
Our dental plan covers 100% of preventive services, 80% of basic services, and 50% of major services.
Vision insurance
With Morningstar's vision benefits you can get an annual eye exam with an in-network provider with just a $10 copay.
Health insurance
Morningstar continues to offer the choice of two medical plans—the Savings Plan and the Classic Plan. Both are administered by Blue Cross and Blue Shield of Illinois (BCBS).
Life insurance
Morningstar offers 4 tiers of life insurance that offer varying benefits. Basic Life insurance is equal to 1 times an employee's annual salary.
Wellness programs
Mental health benefits
Our insurance covers 80% on in-network mental health services. Our Employee Assistance Program provides no-cost, confidential, 24-hour counseling on a wide variety of issues.
Financial & Retirement
401(K)
Take advantage of a number of Morningstar tools to help you manage your 401(k) account and your finances, including Morningstar Retirement Manager, available to you at no cost.
401(K) matching
Morningstar provides employees with a 401(k) matching plan managed. We match $0.75 for every dollar contributed, up to a maximum of 7% of employee pay contributed to the plan each pay period.
Company equity
Morningstar’s global employee equity benefit, Shared Ownership, enables you to take a portion of your bonus payout and exchange it for RSUs, with Morningstar providing an additional 50% match.
Employee stock purchase plan
Colleagues who exceed their performance goals substantially may be eligible for Impact RSU Awards as an additional reward on top of their cash bonus/commission award.
Performance bonus
Charitable contribution matching
Morningstar's Matching GIfts program will match your charitable giving up to the local currency equivalent of $500 USD per calendar year.
Child Care & Parental Leave Benefits
Childcare benefits
Morningstar offers the option of in-home child and elder care, in addition to the existing day care center back-up care benefit.
Generous parental leave
Morningstar has a global minimum of 6 weeks paid time-off to bond with new family members. This benefit applies to all individuals equally, including birth mothers, fathers, adoptive parents.
Family medical leave
Eligible employees may take up to 12 weeks of job-protected, unpaid leave per year for certain specified reasons, and up to a total of 26 workweeks of leave to care for a family member.
Adoption Assistance
We reimburse up to 80% for eligible adoption expenses, up to $4,000 per adoption, in addition to a minimum of 6 weeks paid time off.
Return-to-work program post parental leave
Company sponsored family events
Morningstar sponsors family oriented events Annually.
Vacation & Time Off Benefits
Unlimited vacation policy
Generous PTO
Paid volunteer time
Our employees receive 2 days per year of paid volunteer time.
Sabbatical
Paid holidays
Paid sick days
Office Perks
Commuter benefits
Company-sponsored outings
Some meals provided
Company-sponsored happy hours
Onsite office parking
Recreational clubs
Fitness stipend
Professional Development Benefits
Job training & conferences
Tuition reimbursement
Lunch and learns
Promote from within
Mentorship program
Continuing education stipend
Continuing education available during work hours
Online course subscriptions available
Customized development tracks
Paid industry certifications

Additional Perks + Benefits

Compensation at Morningstar is more than a salary. It’s about making positive contributions to both life and work. We give our diverse workforce the choice and flexibility they need to maintain their health, retirement plans, time, and professional growth.

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