Principal Quantitative Analyst

Morningstar; Illinois; On-site; USD 152,000 - 233,000; Full time

Benefits offered by this job

401k match

Health benefits

Sabbatical program

Parental leave

Disability insurance

Tuition reimbursement

Job summary

Morningstar is seeking a principal quantitative analyst for its Chicago office to build and launch new index products. You will partner across research, product, and technology teams to move bold ideas to market, using AI-first methods, advanced analytics, and scalable tooling.

The role emphasizes strong communication, rigorous back-testing, and transparent methodology while delivering client-ready insights and dashboards. This is a hands-on leadership position in a fast-moving, global team.

Qualifications

• 6+ years in indexes, asset management, fintech, or related investment tech.
• Strong quant toolkit for research, back-testing, risk analytics, and design.
• Proficiency with Python, R, SQL, MATLAB or similar for prototyping and automation.
• Experience with AI-first tools and workflow automation platforms.
• Ability to translate complex quant/AI concepts into clear documents and client materials.

Responsibilities

• Build and launch new benchmark, thematic, factor, and multi-asset indexes from concept to market.
• Lead full product innovation cycle: spot opportunities, test signals, and ensure launch-readiness.
• Apply quantitative techniques, ML, portfolio construction, and risk analytics to investment ideas.
• Promote AI-assisted research, coding agents, and scalable automation in workflows.
• Create tools, dashboards, and client-ready narratives to communicate complex ideas.

Skills

Quant toolkit

Python

R

SQL

MATLAB

AI interest

Communication

Risk analytics

Portfolio construction

Tools

GitHub Copilot

Claude Code

Gemini

ChatGPT

RAG

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 position 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
  • 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

$151,975.00-233,025.00

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.