Asset Allocation Research Specialist
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 is one of the few employers to be named in both the Chicago Tribune’s Top Places to Work and Crain’s Best Places to Work in Chicago. 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 Asset Allocation Research Specialist 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, including a meaningful role in client interactions. Areas of focus include strategic asset allocation and capital market assumptions; understanding, operating, and improving existing quantitative financial processes; and developing and implementing new quantitative financial models and optimization techniques. This is a quantitative research role that involves substantial amounts of programming.
- Learn and 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 deliverables, conduct client engagements, take the lead role in client interactions, and further enhance and improve the processes as business needs dictate.
- Develop new quantitative financial models, methods and algorithms to support strategic asset allocation, capital market assumption, performance attribution, and glide path construction initiatives, using statistical analysis, risk management techniques and simulation.
- Maintain, enhance, and continue to develop new quantitative financial models.
- Meet with investment professionals within the Mesirow Fiduciary Solutions division to interpret findings and recommend changes in investment policy in response to the findings.
- Evaluate and model alternative asset classes and conduct related asset allocation studies suitable for both client-facing white papers and professional journal publication.
- Apply complex financial theory to provide solutions to problems of an applied nature.
- An advanced degree in finance, economics, mathematics, statistics, engineering, or a related field is preferred, but B.S. holders will be considered.
- CFA preferred.
- Experience in investment consulting or a related field (asset allocation, capital market assumptions development, quantitative analysis, financial engineering, investment research) within the financial services industry is a plus. Compensation is variable and commensurate with education level and experience.
- Ability to communicate complex financial concepts effectively to clients and previous client-facing experience desired.
- Significant programming experience required; R and Python preferably. MATLAB experience is a plus.
- Ability to convert academic research concepts into practical solutions for use by other members of the team. 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 insurance products is a plus.
- Demonstrates the ability to work and interact with all levels within the organization.
- Superior skills in organization, time management, prioritization, research and self-motivation.