Portfolio Manager (Quantitative) Internal Equity Management

Commonwealth of VA Careers; Richmond (VA); Hybrid; USD 167,000 - 283,000; Full time

Job summary

Virginia Retirement System (VRS) seeks an experienced Portfolio Manager (Quantitative) to aid in the management of internally managed equity investments. The role involves developing stock selection and risk models, testing ideas on large datasets, and presenting findings to the Investment Advisory Committee and Board.

The position requires a Master’s degree in related fields and at least 10 years in research, with strong Python/SQL skills and familiarity with FactSet or Bloomberg.

Qualifications

• Master’s degree in financial market theory, statistics, econometrics or related field required or equivalent experience.
• 10+ years’ experience in conducting long-term independent research projects including leading researchers and developers.
• Experience managing an active equity strategy relative to a benchmark.
• Understanding of accounting and financial statement analysis as it pertains to factor research and implementation over a full benchmark universe.
• Strong programming and data management skills, including mastery of Python, SQL, or similar language.
• Extensive experience using financial research applications such as FactSet, Bloomberg or similar platforms.
• Broad familiarity with various financial datasets related to quantitative investment management.
• Broad understanding of the investment management business including operational, technological, trading and other business aspects.

Responsibilities

• Initiate and lead projects to improve the investment process.
• Develop proprietary stock selection and risk models.
• Utilize large datasets to test investment ideas.
• Participate in the portfolio management and implementation process.
• Present research to staff, Investment Advisory Committee, and Board.
• Work with senior team members to advocate for longer-term strategic initiatives.

Skills

Python

SQL

Data management

Financial research

Education

Master’s degree in financial market theory

CFA charter

Tools

FactSet

Bloomberg

Job description

Title: Portfolio Manager (Quantitative) Internal Equity Management

Agency: Virginia Retirement System

Location: Virginia Retirement System - James Center

FLSA: Exempt

Hiring Range: $166,697-$283,000

Full Time or Part Time: Full time

Applications must be submitted by 11:59 PM (EST) the day before the posted End Date.

The Virginia Retirement System’s (VRS) Internal Equity Management (IEM) team in the Investments Department is seeking an experienced professional to assist with the management and oversight of internally managed equity investments. Please visit VRS’ website (www.varetire.org) for additional information on the agency and funds.

Responsibilities:

The IEM team manages over $20 billion of equity assets in quantitative active funds and is currently developing several new strategies. Internal funds are managed using a team approach in which each member of the group is responsible for generating new investment ideas, critiquing and refining the proposals of others, and translating those concepts into tradable investment strategies.

Essential job duties include:

• Initiate and lead projects to improve the investment process
• Develop proprietary stock selection and risk models
• Utilize large datasets to test investment ideas
• Participate in the portfolio management and implementation process
• Present research to the staff, Investment Advisory Committee, and Board
• Work with senior team members to advocate for longer-term strategic initiatives

Minimum qualifications:

• Master’s degree in financial market theory, economic theory, statistics, econometrics or related field, required; an equivalent combination of education and experience may also be considered
• 10+ years’ experience in conducting long-term independent research projects including leading researchers and developers, communicating complex ideas to multiple audiences, and implementing successful research into the investment process
• Experience managing an active equity strategy relative to a widely accepted benchmark
• Understanding of accounting and financial statement analysis as it pertains to factor research and implementation over a full benchmark universe
• Strong programming and data management skills, including mastery of a high-level programming language such as Python, SQL, and/or other similar programming language
• Extensive experience using financial research applications such as FactSet, Bloomberg and/or other similar financial platforms
• Broad familiarity with various financial datasets related to quantitative investment management
• Broad understanding of the investment management business including operational, technological, trading and other business-related aspects of institutional investment management

Preferred Qualifications:

• Familiarity with risk models and optimization engines (e.g. Barra, Axioma and/or other similar engines)
• Demonstrated track record of leadership
• Experience with team management
• A CFA charter

Special Instructions:

• VRS is unable to provide sponsorship for this position.
• This position follows the hybrid work model, currently requiring three days on-site and two days remote; the selected candidate must be able to work in the office any day of the week, as required by the manager.

**Disclaimer** Applications of individuals who have applied for this position may be considered for vacant positions, within the same job series, if the qualifications for the vacant position are met.

$166,697-$283,000