VP, Quantitative Researcher

Fidelity Investments•Jersey City, NJ

1d•$140,000 - $285,000•Hybrid

About The Position

The Role As an integral part of the Quantitative Research and Investing (QRI) group, the Mosaic team is responsible for the portfolio optimization system used for both quant research and managing portfolios at scale. Primary Location: Boston, MA Additional Locations: Merrimack, NH; Jersey City, NJ The Expertise and Skills You Bring: A Master’s degree or higher in mathematics or related fields, with emphasis in linear programming or optimization. 5+ years in portfolio optimization-focused roles, researching the algorithms and mathematics that support optimization, with direct experience using general purpose solvers (Gurobi, CPLEX) or proprietary solvers (e.g. conic). Demonstrable track record delivering heuristics and reformulations to achieve stability and reach optimality for complex portfolio optimization problems, including taxable portfolios. Substantial exposure to mathematical techniques specific to portfolio optimization which take advantage of the structure of portfolios, risk, and tax to find optimal solutions efficiently. Experience working with asset management clients to deliver solutions to specific portfolio optimization challenges. Demonstrated ability to take a research question from inception to a positive outcome independently, with appropriate scientific rigor. Sufficient fluency in technologies and tools to work independently. Collaborative mindset and ability to work with partners with different skill sets and expertise to deliver complex, reliable, scalable solutions to portfolio optimization problems. Improve numerical stability and efficiency of portfolio optimization algorithms that work at scale, across large numbers of diverse portfolios. Design and validate heuristics and problem reformulations to solve complex optimization problems which otherwise don’t solve to optimality. Independently deliver sophisticated mathematical solutions and provide guidance to the team responsible for implementing them. Research novel algorithms to support new and expanded capabilities and specific needs of clients. Partner with team members to evolve your algorithms when faced with new client portfolios that don’t solve or where solutions are unstable. The Team As a part of the Mosaic team and working closely with your colleagues, you will provide expertise on mathematical techniques used in portfolio optimization, focusing on improving the speed and stability of optimizations for both taxable and non-taxable portfolios. You will research mathematical principles that address current inefficiencies and facilitate enhancements with the output of your research. Your role will be focused on research, but you will partner with team members to direct the implementation of your findings in the Mosaic system. The base salary range for this position is $140,000-285,000 USD per year. Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors. Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation. We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted. Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories. Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles. Please consult with your recruiter for the specific expectations for this position. Certifications: Category: Data Analytics and Insights At Fidelity, we are passionate about making our financial expertise broadly accessible and effective in helping people live the lives they want! We are a privately held company that places a high degree of value in creating and nurturing a work environment that attracts the best talent and reflects our commitment to our associates. We are proud of our diverse and inclusive workplace where we respect and value our associates for their unique perspectives and experiences. For information about working at Fidelity, visit FidelityCareers.com. Fidelity Investments is an equal opportunity employer. Fidelity will reasonably accommodate applicants with disabilities who need adjustments to participate in the application or interview process. To initiate a request for an accommodation please contact the following: For roles based in the US: Contact the HR Leave of Absence/Accommodation Team by sending an email to [email protected], or by calling 800-835-5099, prompt 2, option 2 For roles based in Ireland: Contact [email protected] For roles based in Germany: Contact [email protected] Fidelity Privacy Policy

Requirements

A Master’s degree or higher in mathematics or related fields, with emphasis in linear programming or optimization.
5+ years in portfolio optimization-focused roles, researching the algorithms and mathematics that support optimization, with direct experience using general purpose solvers (Gurobi, CPLEX) or proprietary solvers (e.g. conic).
Demonstrable track record delivering heuristics and reformulations to achieve stability and reach optimality for complex portfolio optimization problems, including taxable portfolios.
Substantial exposure to mathematical techniques specific to portfolio optimization which take advantage of the structure of portfolios, risk, and tax to find optimal solutions efficiently.
Experience working with asset management clients to deliver solutions to specific portfolio optimization challenges.
Demonstrated ability to take a research question from inception to a positive outcome independently, with appropriate scientific rigor.
Sufficient fluency in technologies and tools to work independently.
Collaborative mindset and ability to work with partners with different skill sets and expertise to deliver complex, reliable, scalable solutions to portfolio optimization problems.

Responsibilities

Improve numerical stability and efficiency of portfolio optimization algorithms that work at scale, across large numbers of diverse portfolios.
Design and validate heuristics and problem reformulations to solve complex optimization problems which otherwise don’t solve to optimality.
Independently deliver sophisticated mathematical solutions and provide guidance to the team responsible for implementing them.
Research novel algorithms to support new and expanded capabilities and specific needs of clients.
Partner with team members to evolve your algorithms when faced with new client portfolios that don’t solve or where solutions are unstable.