Quantitative Research Associate
Quantitative Research Associate Please direct all resume submissions to ...@mlp.com.
General InformationHiring Department/Group: Quantitative Strategies Management TeamJob Title: Quantitative Research AssociateOffice Location: New York City
Firm Overview: Who We AreMillennium Management is a global investment management firm founded in 1989 that manages over $60 billion in assets as of December 31st 2023. Millennium has more than 5,500 employees with offices in the United States, Europe, and Asia. Over the last 30+ years, our mission has remained constant: to deliver the alternative investment industry's highest quality returns to our investors, and to maintain a commitment to our principles of integrity, discipline, and excellence.We are looking for an entrepreneurial Quantitative Associate to work on our Quantitative Strategies Management Team to help us manage our multi-PM systematic trading business. You will be one of two people involved in conducting quantitative analyses into the performance of our Portfolio Managers' strategies. You will work closely with the Management Team in building out our next generation of performance analytics, including the creation of new quantitative factors to help explain our Portfolio Managers' trades and strategies and seek to forecast their future risk and profitability. You will regularly interact with senior Portfolio Managers, and with other teams at the firm including Risk Management.
Principal Responsibilities- Conduct quantitative analytical research to improve the understanding of systematic Portfolio Managers' performance. This will entail creating new quantitative factors as well as the development of new portfolio profitability assessment tools.
- Assist in the creation of the next generation of quantitative tools to assess the likely profitability of new Portfolio Manager candidates.
- Participate in new initiatives to aid Portfolio Managers in assessing the potential alpha impact of new research ideas and signals.
- Partner with groups throughout the firm including Technology, Risk Management, and Risk Research to collaborate on and deploy new tools that will drive improvements that are crucial to the success of the Quantitative Strategies platform.
- Work in tandem with senior members of the Quantitative Strategies Management Team on a variety of ad hoc issues that must be addressed in a time critical manner as is par for the course in with managing one of the world's largest hedge funds and Quantitative Strategies investment teams.
- Develop and maintain relationships with our Quantitative Strategies Portfolio Managers.
Skills Required- Skilled coder, where knowledge of Python and SQL is strongly preferred, along with the ability to learn new languages and tools as needed.
- Exceptional academic record, with an advanced degree in Financial Engineering or Economics. Other domains including Statistics, Computer Science, and Applied Mathematics will be considered.
- Deep understanding of quantitative research methods, financial factor models, and econometrics required.
- Strong organizational and project management skills to be able to manage your own book of work.
- Strong communication skills, both verbal and written. The ability to make one's own ideas and analysis readily understood by others, as well as the general ability to make complex topics understood by others with less quantitative training.
Required Experience- 2-4 years of experience in quantitative equities, with a focus on signal research or portfolio construction. Buy-side experience preferred.
- Experience with traditional and more modern statistical methods and machine learning techniques (e.g. linear and logistic regressions, PCA, random forests, Ridge and Lasso regressions, etc.).
- Broad understanding and strong intuition of equities, options, futures, and FX products.
- Intellectually curious, self-driven, and possessing a dogged determination.
- Naturally collaborative and extroverted. You must enjoy debating issues with a focus on practicality.
- Proven track record of excellence and overcoming adversity. Grit and determination are keys to success.
- Uncompromising ethics and sound judgement.
Millennium pays a total compensation package which includes a base salary, discretionary performance bonus, and a comprehensive benefits package. The estimated base salary range for this position is $150,000 to $200,000, which is specific to New York and may change in the future. When finalizing an offer, we take into consideration an individual's experience level and the qualifications they bring to the role to formulate a competitive total compensation package.