ETF Portfolio Management Analyst

Milliman•Chicago, IL

4d•Hybrid

About The Position

The Department The Portfolio Management Group manages 140 ETFs with AUM totaling approximately $21 billion across multiple strategies. There are plans to launch additional funds in the near future. The Role The Analyst works closely with Portfolio Managers to implement passive investment strategies with an emphasis on minimizing tracking error and achieving tax efficiency. At any given time, the portfolios may hold various financial instruments including equities, treasuries, futures, swaps, and options depending on the specific strategy and market conditions. The Analyst plays a critical role in the organization’s growing ETF sub-advisory business.

Requirements

A Bachelor’s degree in business, finance, economics or similar degree required
3-5 years of experience in fixed income or derivatives portfolio management, trading, fund accounting, corporate actions processing, or index research (experience with ETFs is desirable)
Familiarity with the different stakeholders in the portfolio management process including Fund Accounting, Custodian, Transfer Agent, and Distributor is desirable
Strong Excel skills, familiarity with VBA is a plus
Strong analytical and information technology skills
Experience with Bloomberg
Strong communication skills and the ability to clearly and quickly communicate ideas and recommendations verbally and in writing
Ability to multitask and thrive in a fast-paced environment
Maturity, good judgment, and a professional demeanor
Enrolled or seeking to enroll in the CFA or FRM program

Nice To Haves

Sharp critical thinking skills, sound judgment and decision-making ability, and both the ability and willingness to clearly articulate your ideas
Demonstrated aptitude for quantitative and critical thought
Experience with financial markets, mutual funds, portfolio management, and derivatives
Experience coding complex projects in VBA
Grow subject matter expertise through education and experience
Ability to complete work with limited oversight using independent judgement

Responsibilities

Review corporate actions and index changes in order to calculate and execute rebalancing trades
Maintain proprietary trading models and evaluate their output
Implement tax efficient strategies including the use of custom in-kind baskets and tax loss harvesting
Create portfolio listing files (PLF) and validate portfolio composition files (PCF) for each ETF
Reconcile fund NAVs and cash-related basket data points nightly
Perform attribution analysis of historical ETF returns
Monitor secondary market trading and communicate with market makers as needed
Complete ad hoc projects and respond to inquiries from clients

Benefits

Medical, Dental and Vision – Coverage for employees, dependents, and domestic partners
Employee Assistance Program (EAP) – Confidential support for personal and work-related challenges
401(k) Plan – Includes a company matching program and profit-sharing contributions.
Discretionary Bonus Program – Recognizing employee contributions
Flexible Spending Accounts (FSA) – Pre-tax savings for dependent care, transportation, and eligible medical expenses
Paid Time Off (PTO) – Begins accruing on the first day of work. Full-time employees accrue 15 days per year, and employees working less than full-time accrue PTO on a prorated basis
Holidays – A minimum of 10 paid holidays per year
Family Building Benefits – Includes adoption and fertility assistance
Paid Parental Leave – Up to 12 weeks of paid leave for employees who meet eligibility criteria
Life Insurance & AD&D – 100% of premiums covered by Milliman
Short-Term and Long-Term Disability – Fully paid by Milliman