Lead Quantitative Analyst

Morningstar, Inc.; Chicago (IL); Hybrid; USD 114,000 - 167,000; Full time

Benefits offered by this job

100% 401k match up to 6%

Stock Ownership Potential

Company provided life insurance

Comprehensive health benefits

Long-term disability insurance

Paid Sabbatical Program

Paid parental leave

Tuition/Wellbeing stipend

Job summary

Morningstar, Inc. is seeking a hands-on index products builder in Chicago to design and launch advanced benchmarks and multi-asset indexes. You will partner with research, product, technology, and operations teams to bring ideas from concept to market.

The role emphasizes quant research, AI-enabled analysis, and scalable index methodologies, with a focus on rapid experimentation and robust testing. Four days in-office per week are expected.

Qualifications

• 4+ years of experience in indexes, asset management, investment banking, fintech, or related investment technology environment.
• Proficient in writing code and working with data using Python, R, SQL, MATLAB to prototype ideas and automate workflows.
• Excited by AI-first approaches with exposure to Copilot, ChatGPT, Claude Code, or similar tools.

Responsibilities

• Build and launch new benchmark, thematic, factor, and multi-asset indexes from concept to market with cross-functional partners.
• Drive the full product innovation cycle from opportunity spotting to back-testing and market-ready methodology.
• Use quant techniques, machine learning, risk analytics, and statistical testing to convert ideas into durable, rules-based index methodologies.
• Promote AI-driven workflows and agentic automation to speed up research and product development.
• Create tools, dashboards, research insights, and client-facing materials to explain complex quant and AI concepts.

Skills

Quant research

AI/ML mindset

Communication

Tools

Python

R

SQL

MATLAB

Job description

The Area

Morningstar Indexes is building the next generation of index products at the intersection of markets, quant research, data science, and AI. This is a hands‑on builder role for someone who wants to move fast, experiment with new tools, turn bold ideas into scalable index solutions, and help redefine how investment products are researched, tested, and launched. The role is based in our Chicago office and requires at least four days a week in office.

The Responsibilities

• Build and launch new benchmark, thematic, factor, strategic beta, and multi‑asset indexes from concept to market in partnership with research, product, technology, operations, and commercial teams.
• Drive the full product innovation cycle‑spot opportunities, explore data, test signals, run back‑tests, shape methodology, solve implementation challenges, and get products launch‑ready.
• Use quant techniques, machine learning, portfolio construction, risk analytics, and statistical testing to turn investment ideas into durable, rules‑based index methodologies.
• Push the use of AI, coding assistants, and agentic workflows to automate research, speed up analysis, test methodology logic, and make product development smarter and faster.
• Bring builder energy to the team by creating tools, prototypes, dashboards, research insights, and client‑ready stories that make complex quant and AI ideas easy to understand and exciting to use.

The Requirements

• 4+ years of experience in indexes, asset management, investment banking, fintech, systematic investing, quantitative research, or a related investment technology environment.
• Strong quant toolkit, including hands‑on experience with investment analysis, factor research, portfolio construction, back‑testing, risk analytics, or systematic strategy design.
• Proficient in writing code and working with data using Python, R, SQL, MATLAB, or similar tools to prototype ideas, analyze large datasets, and automate repeatable workflows.
• Excited by AI‑first ways of working, with experience using tools such as Microsoft Copilot, GitHub Copilot, Claude Code, Gemini, ChatGPT, or similar platforms; exposure to AI agents, RAG, or workflow orchestration is a plus.
• Clear communicator who can translate complex quant, AI, and investment concepts into methodology documents, research notes, presentations, and compelling client‑facing narratives.
• Experience developing and using optimized portfolio construction and risk modelling tools, factor investment strategies, private equity data, and index derivatives strategies is a strong plus.

Why this role is exciting

You will join a global indexes team with the freedom to build, experiment, and scale new ideas‑using AI, quant research, and modern development tools to create products that can reach investors around the world.

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 plansand coverages
  • Additional medical Wellness Incentives - up to $300-$600 annual
  • Company-provided long- and short-termdisabilityinsurance
• 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 & FormalMentorshipOpportunities
  • 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

Total Cash Compensation Range

$114,100.00-167,350.00

Inclusive of annual base salary and target incentive

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.