Portfolio Manager (Quantitative) Internal Equity Management

VRS Virginia Retirement System; Virginia; Hybrid; USD 167,000 - 283,000; Full time

Job summary

VRS Virginia Retirement System in Richmond, VA is seeking a senior investment research leader to drive innovation in quantitative equity strategies. You will guide projects from idea through tradable models, using large datasets to validate concepts and support portfolio implementation.

Responsibilities include leading researchers, presenting findings to governance bodies, and collaborating with senior staff to push strategic initiatives. Hybrid work model with on-site and remote days is offered.

Qualifications

• Master’s degree in financial market theory, economic theory, statistics, econometrics or related field; equivalent combo considered
• 10+ years’ experience leading independent research projects and implementing research into investment process
• Experience managing an active equity strategy relative to a benchmark
• Understanding of accounting and financial statement analysis for factor research and implementation
• Strong programming and data management skills (Python/SQL)
• Extensive experience using financial research apps such as FactSet, Bloomberg or similar
• Familiarity with various financial datasets related to quantitative investment management
• Broad understanding of the investment management business including operations, technology, trading

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 portfolio management and implementation
• Present research to staff, Investment Advisory Committee, and Board
• Work with senior team members to advocate longer-term strategic initiatives

Skills

Python

SQL

Data management

Financial analysis

Communication

Leadership

Presentation

Education

Master’s degree in financial markets / related field

CFA charter (preferred)

Tools

Python

SQL

FactSet

Bloomberg

Job description

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.

• 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.

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

ABOUT US

The Virginia Retirement System (VRS0, an independent state agency based in Richmond, delivers retirement and other benefits to covered Virginia public sector employees through sound financial stewardship and superior customer service. VRS ranks as the 15th largest public or private pension fund in the U.S. and the 36th largest in the world, serving more than 861,000 active and inactive members, retirees and beneficiaries. Members include public school teachers, political subdivision employees (cities, towns, special authorities and commissions), state agency employees, public college and university personnel, state police, Virginia law officers and the judiciary. Approximately 864 employers participate in VRS.

Mission Statement

VRS delivers retirement and other benefits to Virginia public employees through sound financial stewardship and superior customer service.

Vision Statement

To be the trusted leader in the delivery of benefits and services to those we serve.

IMPORTANT NOTICES

VRS is unable to provide sponsorship at this time or any time in the future. VRS' current hybrid schedule includes onsite work Tuesday through Thursday and remote work on Monday and Friday. From time to time, employees may be asked and are expected to work onsite to support business needs.