Senior Investment Analyst
About The Position
This role requires a deep understanding of financial markets to estimate long-term variables and generate expected returns. The candidate will utilize strong knowledge of financial theory, particularly long-run cash flow models and present value relations, to translate stock-based theories and models to broader asset classes. Expertise is needed in estimating equity expected returns using a supply-side framework, with a proven track record of contributions in this area. The position also involves knowledge of fundamental demand-side equity models and the ability to use present value relations to decompose risk premiums into supply-side estimations of equity risk premiums. A key responsibility is expertise in equity index aggregation methodologies, including constructing fundamentals based on unique Morningstar data and variables, adhering to industry best practices for producing robust aggregate data for investment processes. Additionally, the role demands expert knowledge in econometrics techniques and the ability to develop complex models, including multivariate unit roots, structural breaks, Markov regime switching models, trend and cycle decomposition, and estimation of latent variables, with an expectation of proven contributions. The analyst will also be proficient in time series, cross-sectional, and panel methodologies for back-testing studies and research. Strong knowledge of structural macroeconomics, including analyzing economic shocks using SVAR models, is required. Furthermore, expertise in fixed income models, term structure models, foreign exchange models (including purchasing power parity), and understanding cross-asset class interactions through multivariate distributions, simulations using copulas, and marginal distributions are essential. The role also includes portfolio variance decomposition and imposing diagonal restrictions to capture bottom-up risk information from Morningstar equity analysts. Remote work requests will be considered consistent with company policy.
Requirements
- Bachelor's degree in Business Analytics, Finance, Economics, Mathematics, or a related analytical field, or foreign equivalent.
- 3 years of relevant investment experience in Associate Analyst (Multi Asset Research), Financial Product Specialist, or related position.
- Chartered Financial Analyst (CFA) credential.
- Experience with investments, especially expertise in and knowledge of financial theory and the ability to link this to empirical and practical applications, including estimating expected returns and asset allocation.
- Experience with advanced return and fundamental decompositions using knowledge of asset pricing theory.
- Experience with advanced econometrics and use in daily work flow.
- Experience using Python, R, Matlab, Morningstar Direct, Morningstar Direct API in Python, Pitchbook, Office 365 tools relevant to industry database.
- Experience in creating expected return models and estimates for public markets.
- Experience in creating expected return models for assets with non-observable returns.
- Experience in estimating latent variables, including but not limited to state space models and Bayesian Markov Chain Monte Carlo methods.
- Expertise in creating fundamental equity indices and fundamental ratios.
- Expertise in asset class and security level risk estimates and decompositions using eigenvalues and eigenvectors.
- Experience and understanding of economic competitive forces, especially quantitative measurement and modeling dynamics and fade rates of competitive advantages.
- Experience with communicating business goals and functional requirements effectively to any audience within the enterprise.
- Must possess unrestricted right to work in the U.S. in this position.
Responsibilities
- Estimate long-term variables to generate expected returns using a deep understanding of financial markets.
- Translate stock-based theories and models to broader asset classes using financial theory, especially long-run cash flow models and present value relations.
- Estimate equity expected returns using a supply-side framework, with proven contributions to this area.
- Utilize fundamental demand-side equity models and present value relations to decompose risk premiums into supply-side estimations of equity risk premiums.
- Apply expertise in equity index aggregation methodologies, including constructing fundamentals based on unique Morningstar data and variables, and adhering to industry best practices for producing robust aggregate data.
- Develop complex econometrics models, including multivariate unit roots, structural breaks, Markov regime switching models, trend and cycle decomposition, and estimation of latent variables, with an expectation of proven contributions.
- Conduct back-test studies and research using time series, cross-sectional, and panel methodologies.
- Analyze the effects of different types of economic shocks, such as supply and demand shocks, using SVAR models.
- Apply fixed income models, term structure models, and foreign exchange models (including purchasing power parity models) to equities and other asset classes.
- Model cross-asset class interactions and joint events using multivariate distributions, including creating simulations using copulas and marginal distributions.
- Perform portfolio variance decomposition and impose diagonal restrictions to capture bottom-up risk information from Morningstar equity analysts.
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
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Senior
