Job Description:
The Group
Quantitative Research and Investing (QRI) is an investments and research division within Asset Management at Fidelity. We are responsible for the management and development of quantitative and hybrid quant/fundamental investment strategies and solutions while providing high quality quantitative, data-driven support to Fidelity’s investment professionals, ensuring they have access to the most relevant data and advanced quantitative analysis.
The Role
We are seeking a Quantitative Analyst to join the Systematic Equity Strategies (SES) group — a part of Fidelity's QRI Division. The SES team is responsible for the research, design, development, and implementation of systematic active and tax-managed equity strategies. Assets under management is approximately $30B and spans multiple equity products and customized separately managed accounts serving both intermediary and institutional investors. Reporting to the Head of the SES Research, the quantitative research analyst will be responsible for research and development for the Custom SMA (CSMA) tax managed equity strategies.
Additional responsibilities include:
Working as a member of the investment team to research and refine CSMA strategies.
Contribute to the development of processes and systems used in CSMA strategies. Develop back-testing capabilities and framework and construct optimized equity index portfolios and review results.
Perform after-tax performance analysis, attribution, and monitoring of the strategies managed by the group.
Contribute to the development and testing of new portfolio management processes and systems to improve tax efficiency and reduce risk.
Develop new custom SMA strategies, portfolio constraint customization and effective tax management. Investigate and provide analysis on optimal ways to combine different active as well as factor strategies and determining the appropriate indices used in Custom Blend strategies.
Explore methodologies for integrating alpha factors with Tax Loss Harvesting (TLH) as well as developing short extension strategies to enhanced TLH capabilities.
Provide analysis and content with the aim to co-author thought leadership articles in the areas of CSMA.
Actively participating in the team’s research agenda from idea generation, research design, back-testing and portfolio simulations, to implementation.
Working in a collaborative team environment that integrates quant research, technology, portfolio engineering, trading and drive improvements to quant infrastructure and technology platform.
The quantitative analyst position offers a valuable opportunity to learn and excel within a talented investment department for an elite investment organization.
The Skills and Experience You Bring
We are seeking individuals who have the following characteristics:
5+ years of experience in quantitative equity especially with tax loss harvesting research, direct indexing, preferably in asset management, investment consulting or academic research institutions
An advanced degree, Ph.D. (preferred) or Masters in finance, quantitative economics, statistics, computer science, math, or the physical sciences
Deep understanding of econometrics, mathematics, and hands-on programming skills along with a passion for investing in the financial markets
Relevant experience with multi-factor models, quant equity portfolio construction, TCA, market impact modeling and strong equity microstructure knowledge preferred
Strong Data Science, Data Visualization skills. Proficiency with programming languages and statistical software (e.g., Python, R, MATLAB, SQL, VBA, Tableau)
Deep knowledge of various financial and economic databases like Compustat, Worldscope, IBES etc. Experience with financial packages, portfolio optimization and management tools (e.g., FactSet, Bloomberg, Axioma, Barra)
Ability to think independently with good economic intuition as well as strong presentation and communication skills
Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.
Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.