Senior Investment Analyst

Job Duties

It is expected the candidate can use these in conjunction with a deep understanding of financial markets to estimate long-term variables to generate expected returns (10%). Strong knowledge of financial theory, especially long-run cash flow models and present value relations, and the ability to translate stock-based theories and models to broader asset classes (10%). Expert in estimating equity expected returns using supply side framework, with proven contributions to this area (15%). Knowledge fundamental demand side equity models, with the ability to use present value relations to decompose risk premiums into supply side estimations of the equity risk premiums (10%). Expert in equity index aggregation methodologies, including ability to construct fundamentals based on unique Morningstar data and variables.

This includes strong knowledge of industry best practices and techniques for producing robust aggregate data to use in our investment processes (15%). Expert knowledge in econometrics techniques and the ability to develop complex models. This includes, but is not limited to, strong knowledge of multivariate unit roots and structural break, with the expectation of proven contribution to this body of knowledge.

Other areas with expected strengths include Markov regime switching models, trend and cycle decomposition, and estimation of latent variables (10%). Expert in time series, cross sectional and panel methodologies for conducting back test studies and research (5%). Strong knowledge of structural macroeconomics, including ability to identify and analyze the effects of different types of economic shocks, such as supply and demand shocks, using SVAR models (5%). Strong knowledge of fixed income models and term structure models and the ability to apply these concepts to equities and other asset classes (5%). Strong knowledge of foreign exchange models, including purchasing power parity models (5%). Understanding of cross asset class interactions and ability to model joint events using multivariate distributions.

This includes the ability to create simulations using copulas and marginal distributions (5%). Strong understanding of portfolio variance decomposition and the ability to impose diagonal restrictions to capture bottom-up risk information from Morningstar equity analysts (5%). ***Remote work requests will be considered consistent with company policy.

Job Requirements

This position requires a Bachelor's degree in Business Analytics, Finance, Economics, Mathematics, or a related analytical field, or foreign equivalent and 3 years of relevant investment experience in Associate Analyst (Multi Asset Research), Financial Product Specialist, or related position. Also, must have Chartered Financial Analyst (CFA) credential.

This position also requires 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 of 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 Bayesain 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 modelling dynamics and fade rates of competitive advantages. Experience with communicating business goals and functional requirements effectively to any audience within the enterprise. *** Will accept any suitable combination of education, training, and experience.

Must possess unrestricted right to work in the U.S. in this position

Base Salary Range: $116,979 - 125,271

Morningstar Investment Management is an equal opportunity employer.

"#LI-DNI"

Compensation and Benefits

At Morningstar we believe people are at their best when they are at their healthiest. That’s why we champion your wellness through a wide range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:

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

Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week as we've found that we're at our best when we're purposely together on a regular basis. In most of our locations, our hybrid work model is four days in-office each week. A range of other benefits are also available to enhance flexibility as needs change.

No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.

U30_MstarAssocEur Morningstar Investment Management Europe Ltd. Legal Entity