Senior Product Manager, Due Diligence, Investment Management
Morningstar’s Investment Management group, a part of Morningstar Wealth Management Solutions, is a global team guided by Morningstar’s mission, values and principles to deliver investment, advisory and software solutions to enable great financial advice to ultimately empower investor success. We use our expertise in asset allocation, investment selection and portfolio construction to create world-class investment solutions built upon Morningstar’s unique data, analytics and research. This unique investment data and analytics powers our portfolio accounting and aggregation engines. The group offers a full range of investment solutions, an end-to-end wealth management platform, portfolio accounting services and account aggregation solutions to support wealth managers and financial advisors, and the investors they serve.
This role, reporting to the Director of Product, Asset Manager Network, responsible for performing investment focused oversight and due diligence on a variety of equity, fixed income, alternative and multi-asset investments related to the third-party asset managers and strategies to be made available on our wealth management platform for financial advisors. This position requires extensive knowledge of investment processes and vehicle types including open-end mutual funds, ETFs, model portfolios, SMAs and private alternative investments. Ideal candidates should have experience working in/or supporting a team in a portfolio management, risk management, or product specialist role. You will support the strategic implementation of new advisory services and capabilities including expansion of our third-party investment and model portfolio offerings, establish commercially successful business relationships with the curated list of asset managers and form a governance structure to maintain an objective selection process. You will collaborate with a cross-functional team of business leaders and product development teams to execute the product strategy. The ideal candidate will understand the market demand and requirements, the competitive landscape and revenue impact/opportunities, serve as a subject matter expert on our Managed Portfolios Wealth Advisor platform and services both internally and externally, and will continuously find ways to enhance our overall product experience by working cross-functionally with the various stakeholders, support teams and customers.
- Work with team members across the business unit and Morningstar to prioritize long-range plans in the multi-year roadmap for our wealth management platform experience as it relates to third-party offerings, beginning with the onboarding of select third-party model managers.
- Perform initial and ongoing investment due diligence on public and private markets strategies across the capital structure, which may include private equity, private credit, and real asset strategies
- Analyze managers in relation to their investment process, track record, attribution, portfolio construction, and risk management capabilities
- Identify and evaluate competitive gaps and long-range white space opportunities across traditional and alternative asset classes for our wealth management platform
- Partner with the investment product team to bring to market solutions and services catering to HNW investor segment
- Source unique investment opportunities for ultra-high net worth clients.
- Partner with internal colleagues to provide advice and recommendations to investment committees, financial advisors, and clients.
- Author written research reports and commentaries on fund managers and thought leadership pieces on market trends and opportunities impacting traditional and alternative investment strategies.
- Understand both business and technology requirements, serving as a conduit between our customers, stakeholders, sales, service, marketing, compliance, design, operations and technology teams.
- Adhere to policies and procedures for ongoing due diligence including onsite reviews, ongoing due diligence, written research notes, and updating reports.
- Interact with internal teams including Operational Due Diligence, Product Management, Sales, Legal, and Compliance, as needed.
- Support a collegial, team atmosphere including idea sharing, learning, and collaboration.
- Remain up-to-date on industry trends, regulatory matters, and market events impacting funds, managers, clients, and the industry.
- 5-10 years of investment product development or investment research experience with deep understanding of investment products and services offered in the registered investment advisory or wealth management space. Experience in alternative investments and real assets strategies is preferred.
- Excellent writing skills.
- Ability to motivate, collaborate with and influence a cross-functional team with a track record for quality and on-time deliveries. Must be willing to occasionally connect with global colleagues at off-hours.
- Experience with financial advisor tools, managed account platforms, asset management operations, proposal generation, account opening, portfolio accounting, performance reporting and trading a plus.
- Knowledge and experience with agile development as well as waterfall techniques, and good technical acumen required.
- Highly effective communicator with excellent writing, presentation, and interpersonal skills. Ability to distill complex topics to relevant audiences desired.
- Knowledge of advisor channels, primarily independent RIAs and Broker/Dealers; experience working with the financial advisor community a plus.
- Strong interpersonal and relationship building skills, with a proven ability to collaborate with and lead diverse, multi-functional teams.
- Bachelor’s degree in finance, economics, computer science or related field is required; a graduate degree is a plus.
- Minimal travel including international locations is possible.
- Experience with Morningstar software products, services and data preferred.
Morningstar employees are required to be fully vaccinated or submit to regular testing to work in any office. Morningstar’s vaccine policy may be modified to comply with evolving legal requirements and other changing circumstances.
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If you received and accept an offer from us, we require that personal and any related investments be disclosed confidentially to our Compliance team (days vary by region). These investments will be reviewed to ensure they meet Code of Ethics requirements. If any conflicts of interest are identified, then you will be required to liquidate those holdings immediately. In addition, dependent on your department and location of work certain employee accounts must be held with an approved broker (for example all, U.S. employee accounts). If this applies and your account(s) are not with an approved broker, you will be required to move your holdings to an approved broker.