Lead Investment Analyst

Morningstar•Chicago, IL

1d•$147,550 - $226,233•Hybrid

About The Position

Morningstar Retirement works with financial institutions to help defined contribution investors reach their retirement goals. We support more than $300 billion in assets under management and advisement across automated portfolio management, target date funds, and consulting. We are hiring an Investment Analyst to help lead asset manager due diligence and research on private markets investments used in our multi-asset portfolios. You will own coverage of private equity, private credit, infrastructure, and real assets, and you will be the person the team relies on for how these vehicles should be evaluated and sized in long-horizon portfolios. The role suits someone who works independently, forms and defends their own views, and writes clearly. It is based in our Chicago headquarters. We are working in-office 4 days/week.

Requirements

Bachelor’s degree in finance, economics, or another quantitative discipline (or foreign equivalent) and 5+ years of relevant experience; or a graduate degree and 2+ years.
Experience in multi-asset portfolio management.
Experience conducting due diligence and research on private investment vehicles at an endowment, foundation, family office, OCIO, or similar institution.
Working knowledge of private equity, private credit, infrastructure, and real assets, including the risk and return dynamics of each.
Applied experience with statistical and econometric methods used in finance, including numerical optimization and multiple regression.
Ability to develop new methodologies and defend them to an internal audience.
Proficiency in Excel and working knowledge of Python.
Clear written and verbal communication.
Experience working with colleagues and stakeholders across locations and time zones.

Nice To Haves

CFA and/or MBA.
Familiarity with private markets data tools such as PitchBook.

Responsibilities

Research and issue opinions on managed investments for use in multi-asset portfolios, with an emphasis on private markets and semiliquid vehicles.
Source, evaluate, and recommend investment opportunities across private equity, private credit, infrastructure, and property.
Lead due diligence and financial analysis on target investments, including cash flow, liquidity, and valuation modeling.
Develop and refine the protocols we use to evaluate and allocate to private vehicles in long-horizon portfolios.
Monitor fund performance and liquidity and conduct periodic meetings with private asset managers.
Serve as a subject-matter expert on portfolio construction, investment modeling, and risk for private markets exposures.
Work with product, distribution, and other teams to keep them apprised of research’s activities and help ensure that they are aligned with business needs.

Benefits

100% 401k match up to 6% of salary
Stock Ownership Potential
Company provided life insurance - 1x salary + commission
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
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
Charitable Matching Gifts program
Dollars for Doers volunteer program
Paid volunteering days
15+ Employee Resource & Affinity Groups