Portfolio Manager - Parametric

183 Parametric Portfolio Associates LLC; Seattle (WA); Hybrid; USD 115,000 - 225,000; Full time

Job summary

Parametric Portfolio Associates LLC, part of Morgan Stanley, seeks a Portfolio Manager in Seattle to lead quantitative equity portfolio construction and risk management. Strong knowledge of multi-factor models, optimization, and tax efficiency is essential.

You will collaborate across Technology, Research, Marketing, Operations, and Client Services, build benchmark data, and prepare client reports. Competitive pay with discretionary incentives. Hybrid in-office schedule in Seattle.

Qualifications

• Bachelor’s degree with quantitative focus; CFA and/or MBA preferred.
• 5+ years in investment management or related field, incl. 2+ years in quantitative equity management.
• Strong mathematical/analytical skills and familiarity with academic finance theory.
• Knowledge of equity risk models and portfolio optimization; analytical writing ability.

Responsibilities

• Construct optimized equity index portfolios for separate accounts.
• Rebalance and transition portfolios to maximize tax efficiency.
• Create custom benchmark data and monitor index changes.
• Generate after-tax return data and performance attribution.
• Produce client reports and respond to analysis requests.
• Collaborate with Technology, Research, Marketing, Customer Service and Operations.
• Participate in process improvements and technology development.

Skills

Quantitative degree

CFA/MBA preferred

Investment management experience

Quant equity management

Programming (VBA, Matlab)

Math & analytical skills

Equity risk models knowledge

Portfolio optimization

Analytical writing ability

Education

Bachelor’s degree in finance, accounting, engineering or related quantitative field

Tools

VBA

MATLAB

Job description

ABOUT MORGAN STANLEY

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions, and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.

ABOUT PARAMETRIC

Parametric is part of Morgan Stanley Investment Management, the asset management division of Morgan Stanley. We partner with advisors, institutions, and consultants to build portfolios focused on what's important to them and their clients. A leader in custom solutions for more than 30 years, we help investors access efficient market exposures, solve implementation challenges, and design multi-asset portfolios that respond to their evolving needs. We also offer systematic alpha and alternative strategies to complement clients' core holdings. This role is part of Parametric's hybrid working model, which requires working in the office 3 days a week and remotely the remaining days of the week.

ABOUT THE ROLE

A Portfolio Manager is an expert in the framework underlying Parametric’s quantitative equity portfolio construction. This expertise distinguishes the Portfolio Manager from the Associate Portfolio Manager and includes:

• A thorough understanding of equity multiple factor modeling, including:a) The relationship between asset covariance, CAPM, and multiple factor modeling in estimating portfolio risk.b) The estimation statistics that underlie multiple factor equity risk models, specifically the Barra US Equity Model and Global Equity Model.
• A thorough understanding of portfolio optimization using the Markowitz portfolio selection method, including:a) Trade-offs between benchmark-relative risk, taxes, and transaction costs, subject to constraints.b) Linear programming concepts used to solve the optimization problem.
• A high degree of familiarity with equity indexes, their market coverage, and their construction methodology.
• A high degree of familiarity with equity market microstructure.
• Command of Parametric’s portfolio management processes, including data management, order management, channel management, and reporting.
• Command of Parametric and third-party portfolio management systems and tools.

PRIMARY RESPONSIBILITIES

• Construct optimized equity index portfolios for separate accounts
• Rebalance and transition portfolios to maximize tax-efficiency
• Construct custom benchmark data
• Monitor index changes and corporate actions
• Generate after-tax return data for both portfolios and benchmarks Performance attribution
• Generate client reports, respond to client requests for analysis
• Interact across teams including Technology, Research, Marketing, Customer Service, Operations
• Participate in process improvement and technology development efforts.

JOB REQUIREMENTS

• Bachelor’s (4yr) degree w/ concentration in finance, accounting, engineering or related quantitative focus CFA and/or MBA strongly preferred 5+ years professional experience in investment management or similar, inclusive of at least two years of experience in quantitative equity management Programming skills a plus, including VBA and Matlab Strong mathematical and analytical skills Familiarity with academic financial theory and applications Working knowledge of equity risk models and portfolio optimizer Analytical writing abilIty.

WHAT YOU CAN EXPECT FROM MORGAN STANLEY

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work. To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.

Salary range for the position: $115,000 - $225,000/Yr. The successful candidate may be eligible for an annual discretionary incentive compensation award. The successful candidate may be eligible to participate in the relevant business unit's incentive compensation plan, which also may include a discretionary bonus component.

Morgan Stanley offers a full spectrum of benefits, including Medical, Prescription Drug, Dental, Vision, Health Savings Account, Dependent Day Care Savings Account, Life Insurance, Disability and Other Insurance Plans, Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and 20 Vacation Days annually), 10 Paid Holidays, 401(k), and Short/Long Term Disability, in addition to other special perks reserved for our employees. Please visit mybenefits.morganstanley.com to learn more about our benefit offerings. Expected base pay rates for the role will be between $115,000 and $225,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents. Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences. For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo. At Morgan Stanley, we advise, originate, trade, manage and distribute capital for people, governments and institutions, always with a standard of excellence and guided by our core values. Morgan Stanley is dedicated to providing first-class service to our clients, in a way that reflects our commitment to creating a more sustainable future and fostering stronger communities around the world. In each line of business, we strive to demonstrate our belief in the power of transformative thinking, innovative strategies and leading-edge solutions—and in the ability of capital to work for the benefit of all society.