Risk Manager, Fundamental Equities

Millennium•New York, NY

6d•$160,000 - $250,000

About The Position

Millennium’s Global Risk Management Department identifies, measures, monitors, manages, and reports on risks associated with the firm’s portfolios at both the firm-wide and Portfolio Manager levels. The Equity Risk Management team partners closely with fundamental equity trading groups to provide disciplined risk oversight across portfolios, performance, and trading activity. The Risk Manager owns risk coverage for a group of fundamental equity trading teams. The role involves understanding their portfolios, risk exposures, performance, and investment processes; monitoring and communicating material risk developments; and partnering with investment professionals to build economic intuition around portfolio risks. The Risk Manager evaluates and prioritizes risks, translates findings into focused discussions with Portfolio Managers, follows through on resulting actions, and independently conducts research when existing tools do not answer a risk question. The role also helps identify risks that are not fully captured by current measures and contributes to shaping the risk and portfolio research agenda.

Requirements

7–10 years of experience in equity risk management, portfolio research, quantitative research, or a fundamental investment role.
Fluency with characteristics-based factor models.
Proficiency in R or Python and SQL, with the ability to perform end-to-end analysis independently.
Strong statistical judgment and quantitative, analytical, and problem-solving skills.
Ability to develop clear, actionable perspectives and recommendations from complex risk and portfolio data.
Clear and concise written and verbal communication skills, including the ability to communicate effectively within length constraints.
Degree in a technical or quantitative field.

Nice To Haves

Experience in a multi-manager platform.
An advanced degree in Financial Engineering or a similar discipline.

Responsibilities

Own risk coverage for a group of fundamental equity trading teams, developing a detailed understanding of their portfolios, risk exposures, performance, and investment processes.
Monitor where risk is building across assigned trading groups, distinguish material developments from noise, and clearly communicate their implications.
Develop a working understanding of each Portfolio Manager’s investment process, including where their edge is demonstrated and where risk exposures may be incongruous.
Act as a business partner to investment professionals, helping build strong economic intuition around the risks within their portfolios.
Evaluate and prioritize risks across the coverage book, focusing the team’s attention on developments that require action.
Translate findings into focused conversations with Portfolio Managers and follow through on resulting actions or changes.
Independently scope and conduct research when existing tools do not answer a risk question, sharing findings with the broader team.
Identify risks that may not be fully captured by current measures and use engagement with risk takers to help shape the risk and portfolio research agenda.