Principal Quantitative Analyst

Morningstar; Chicago (IL); On-site; USD 148,000 - 226,000; Full time

Benefits offered by this job

Hybrid work environment

Wellness programs

Job summary

Morningstar Indexes invites a principal quantitative analyst to build and scale next-generation index products in a fast-moving, AI-enabled environment. You will turn bold ideas into durable, rules-based index methodologies while collaborating with research, product, technology, and operations teams.

Based in Chicago, you will lead design, testing, and launch efforts for benchmark and thematic indexes, using advanced quant techniques and AI-enhanced workflows to deliver compelling client-ready

Qualifications

• 6+ years in indexes, asset management, or related investment tech.
• Strong toolkit: back-testing, risk analytics, or systematic strategies.
• Proficient in Python, R, SQL, or MATLAB; able to prototype at scale.

Responsibilities

• Build and launch new benchmark, thematic, factor, and multi-asset indexes from concept to market in partnership with cross-functional teams.
• Drive the full product innovation cycle—spot opportunities, explore data, test signals, back-test, and launch-ready products.
• Use quant techniques, ML, portfolio construction, risk analytics, and testing to turn ideas into durable methodologies.
• Push AI-first workflows to automate research and speed up analysis and product development.
• Create tools, prototypes, dashboards, research insights, and client-ready narratives for complex ideas.

Skills

Python

R

SQL

MATLAB

Machine Learning

AI Tools

Communication

Portfolio Construction

Risk Analytics

Factor Investing

Job description

The Group : 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.

We are looking for a new principal quantitative analyst to work in new product development.

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.

Requirements:

• 6+ 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.
• Comfortable 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.
• This position is based in our Chicago office.

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.

This role does not qualify for immigration sponsorship. Morningstar will not be considering candidates that require immigration sponsorship now or in the future. This role is required to be in Chicago office four days a week.

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

• Physical Health

• Emotional Health

• Social Health

Total Cash Compensation Range

$147,550.00-226,233.33

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.

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