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Quantitative Research Operations Analyst

2 months ago


Chicago, Illinois, United States Mesirow Financial - Chicago Full time

The Opportunity

Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, Mesirow serves clients through capabilities spanning Global Investment Management, Capital Markets and Investment Banking, and Advisory Services. We are proud that our intentional culture results in strong employee engagement, entrepreneurship and empowerment, with ongoing opportunities for volunteerism and advancement. Mesirow was recently named one of the Best Places to Work in Chicago by Crain's Chicago Business and one of the Top 100 RIA firms by Barron's. At Mesirow, we invest in what matters: our clients, our communities, and our culture.

The Mesirow Fiduciary Solutions division provides fiduciary partnership, investment management, asset allocation, and guaranteed retirement income product allocation services to institutional clients in the financial services industry, primarily in the defined contribution space. Recent growth in investment management and retirement income opportunities has created a need for additional research capacity.

The role of the Quantitative Research Operations Analyst is to work with the Chief Investment Officer/Director of Quantitative Research to provide multi-purpose research support for the group's investment management priorities. The role will initially be operationally focused, with the opportunity to grow into a full quantitative research analyst position responsible for new quantitative financial process development and client engagements. Areas of focus include strategic asset allocation and capital market assumptions; understanding, operating, and improving existing quantitative financial processes; and assisting in the development of new quantitative financial processes. This is a quantitative research operations role that involves substantial programming expertise and requires exceptional attention to detail.

Responsibilities:

  • Learn and further document existing quantitative financial processes, including strategic asset allocation, capital market assumptions, performance attribution, target date glide path development, and a simulation-based optimization framework for portfolio construction with guaranteed retirement income products.
  • Spearhead the operation of these processes to update ongoing internal and client deliverables, and further enhance and improve these processes as business needs dictate.
  • Assist in the development of new quantitative financial processes to support strategic asset allocation, capital market assumption, performance attribution, and glide path construction initiatives, using statistical analysis, risk management techniques and simulation methods.
  • Meet with investment professionals within the Mesirow Fiduciary Solutions division to interpret analysis results and recommend changes in investment policy in response to the results.
  • Apply complex financial theory to help provide solutions to real-world problems.

    Requirements:
    • An advanced degree in finance, economics, mathematics, statistics, engineering, or a related field is preferred, but B.S. holders will be considered.
    • CFA charter holder or progress toward the CFA preferred.
    • 0-3 years of experience in investment consulting or a related field (asset allocation, capital market assumptions development, quantitative analysis, financial engineering, investment research, operations research) within the financial services industry is a plus. Compensation is variable and commensurate with education level and experience.
    • Demonstrated exceptional attention to detail is paramount.
    • Advanced proficiency in Microsoft Excel is required; VBA programming experience is a plus.
    • Significant programming experience is required, preferably in R and Python. MATLAB experience is a plus.
    • Knowledge/experience in strategic asset allocation, capital market assumption development, optimization methods, statistical/econometric analysis and modeling and Monte Carlo simulation is desirable. Knowledge of annuity products is a plus.
    • Ability to convert academic research concepts into practical solutions for use by other members of the team.
    • Ability to communicate complex financial concepts effectively to internal clients and previous internal client-facing experience desired.
    • Ability to work independently and interact with all levels within the organization.
    • Superior skills in organization, time management, prioritization, research and self-motivation.
    • Desire to grow and thrive in a highly entrepreneurial environment.
    • Career changers with the required skill set and strong desire to learn quantitative finance will be considered.

      EOE