Quantitative Business Analyst - Equity Factor Models

Millennium; New York (NY); On-site; USD 175,000 - 250,000; Full time

Job summary

Millennium is a global investment firm seeking a quantitative professional to bridge research and engineering. You will translate complex model specifications into actionable technical requirements and manage the lifecycle of equity risk modeling and trading tools.

Collaboration with portfolio researchers and engineers is essential. Ideal candidates hold an advanced quantitative degree and have hands-on experience with Python/SQL, asset pricing, and risk models.

Qualifications

• Advanced degree in a quantitative field is required.
• 2+ years as business analyst or PM in hedge fund/asset management.
• 2+ years with software development lifecycles and Agile delivery.
• Strong knowledge of asset pricing and risk modeling concepts.
• Experience with equity factor risk models and data quality controls.

Responsibilities

• Serve as liaison between quantitative research and software engineering, translating model specs into technical requirements.
• Manage end-to-end requirements for equity risk modeling and trading tools.
• Design and oversee integration of quantitative models and datasets into trading and risk infrastructure.
• Analyze data to validate inputs/outputs and support the quantitative research pipeline.
• Lead end-user testing to ensure solutions reflect investment intent.
• Create documentation for quantitative tools, data feeds, and model logic.

Skills

Asset pricing knowledge

Quant risk modeling

Portfolio optimization

Data integrity

Communication with stakeholders

Education

Advanced degree (PhD or Masters) in a quantitative field

Tools

Python

SQL

Job description

About Millennium

Millennium is a global, diversified alternative investment firm, founded in 1989. Defined by evolution, innovation and focus, Millennium’s mission is to deliver results for our investors.

Millennium is a global, diversified alternative investment firm, founded in 1989. Defined by evolution, innovation and focus, Millennium’s mission is to deliver results for our investors. Our people are empowered with both independence and support: the autonomy to pursue ideas with conviction and the backing of a global network committed to collaboration, disciplined risk management and continuous learning. With opportunities to deepen expertise and accelerate development, talent at Millennium is equipped to adapt, evolve and build lasting impact over time. Discover how transformative growth accelerates impact.

Meet the Team

Core to the health and growth of Millennium’s business, the firm’s active, multi-manager model relies on flexible, scalable technology and advanced proprietary systems, including next-generation analytical and trading capabilities. The Equity Factor Model team partners across portfolio risk research, equity risk modeling, and technology to advance risk and performance platforms supporting quantitative research and investment decision-making.

What You'll Do

• Serve as the primary liaison between quantitative research and software engineering teams, translating model specifications and investment strategies into clear, testable technical requirements.
• Manage the end-to-end requirements lifecycle for equity risk modeling and trading tools, from discovery and functional specifications through acceptance criteria and delivery.
• Design and oversee the integration of quantitative models and datasets into the firm’s trading and risk infrastructure.
• Analyze and prototype against market, portfolio, and model data to validate inputs and outputs, strengthen data integrity, and support the quantitative research pipeline.
• Lead end-user testing and feature validation to ensure delivered solutions reflect the mathematical and business intent of investment professionals and portfolio research teams.
• Create and maintain clear documentation for quantitative tools and data feeds, including functional specifications, model logic descriptions, and data dictionaries.

What You Bring

• Advanced degree (PhD or Masters) in finance, financial engineering, mathematics, statistics, economics, physics, computer science, or another quantitative discipline. CFA is a plus.
• At least 2 years of professional work experience (post-PhD) as a business analyst or project manager within a hedge fund, asset management firm, or investment bank. 5+ years for Masters.
• At least 2 years of professional work experience working with software development lifecycles and Agile delivery methodologies. 5+ years for Masters.
• Strong knowledge of asset pricing, quantitative factor risk modeling, portfolio optimization and construction, and core risk management concepts.
• Proficiency in Python and SQL for data analysis, validation, and prototyping.
• Experience partnering directly with portfolio researchers and software engineers to translate complex quantitative needs into actionable technical specifications.
• Excellent written and verbal communication skills, with the ability to explain mathematical concepts accurately to technical and non-technical stakeholders.
• Experience with equity factor risk models, performance measurement and attribution, data quality controls, reproducible pipelines, model governance, or market data technologies is preferred.

Millennium offers a total compensation package which includes a base salary, discretionary performance bonus, and comprehensive benefits. The estimated base salary range for this position is $175,000 to $250,000, which is specific to New York City and may change in the future. When finalizing an offer, we take into consideration an individual’s experience level and the qualifications they bring to the role to formulate a competitive total compensation package.