Portfolio Manager - Parametric

About the Role

A Portfolio Manager is an expert in the framework underlying Parametric's quantitative equity portfolio construction. This expertise distinguishes the Portfolio Manager from the Associate Portfolio Manager and includes:

• A thorough understanding of equity multiple factor modeling, including:
• a) The relationship between asset covariance, CAPM, and multiple factor modeling in estimating portfolio risk.
• b) The estimation statistics that underlie multiple factor equity risk models, specifically the Barra US Equity Model and Global Equity Model.
• A thorough understanding of portfolio optimization using the Markowitz portfolio selection method, including:
• a) Trade-offs between benchmark-relative risk, taxes, and transaction costs, subject to constraints.
• b) Linear programming concepts used to solve the optimization problem.
• A high degree of familiarity with equity indexes, their market coverage, and their construction methodology.
• A high degree of familiarity with equity market microstructure.
• Command of Parametric's portfolio management processes, including data management, order management, channel management, and reporting.
• Command of Parametric and third-party portfolio management systems and tools.

Primary Responsibilities

• Construct optimized equity index portfolios for separate accounts
• Rebalance and transition portfolios to maximize tax-efficiency
• Construct custom benchmark data
• Monitor index changes and corporate actions
• Generate after-tax return data for both portfolios and benchmarks
• Performance attribution
• Generate client reports, respond to client requests for analysis
• Interact across teams including Technology, Research, Marketing, Customer Service, Operations
• Participate in process improvement and technology development efforts.

Job Requirements

• Bachelor's (4yr) degree w/ concentration in finance, accounting, engineering or related quantitative focus
• CFA and/or MBA strongly preferred
• 5+ years professional experience in investment management or similar, inclusive of at least two years of experience in quantitative equity management
• Programming skills a plus, including VBA and Matlab
• Strong mathematical and analytical skills
• Familiarity with academic financial theory and applications
• Working knowledge of equity risk models and portfolio optimizer
• Analytical writing abilIty

Additional information

Parametric believes each member of our organization makes a significant contribution to our success. That contribution should not be limited by the assigned responsibilities. Therefore, this job description is designed to outline primary duties and qualifications. It is our expectation that every member of our team will offer his/her/their services wherever and whenever necessary to ensure the success of our client services.

What You Can Expect from Morgan Stanley

At Morgan Stanley, we raise, manage and allocate capital for our clients - helping them reach their goals. We do it in a way that's differentiated - and we've done that for 90 years.

Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren't just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries.

At Morgan Stanley, you'll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences.

We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There's also ample opportunity to move about the business for those who show passion and grit in their work.

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Salary range for the position

$115,000 - $225,000/Yr. The successful candidate may be eligible for an annual discretionary incentive compensation award. The successful candidate may be eligible to participate in the relevant business unit's incentive compensation plan, which also may include a discretionary bonus component.

Morgan Stanley offers a full spectrum of benefits, including Medical, Prescription Drug, Dental, Vision, Health Savings Account, Dependent Day Care Savings Account, Life Insurance, Disability and Other Insurance Plans, Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and 20 Vacation Days annually), 10 Paid Holidays, 401(k), and Short/Long Term Disability, in addition to other special perks reserved for our employees.

Please visit mybenefits.morganstanley.com to learn more about our benefit offerings.

Expected base pay rates for the role will be between $115,000 and $225,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.