Portfolio Management Analyst

Description Who We Are Milliman Financial Risk Management LLC is a market leader in the field of portfolio management and risk management, with a focus on trading securities and derivatives to manage capital market risks for banks, asset managers, insurance companies, and pension plans. The Portfolio Management Group, located in Chicago, operates as an integrated team to provide these services to clients across the globe, and currently implements risk management investment strategies on over $50 billion in assets. FRM is committed to continual research and development to maintain and enhance its position as an industry leader in financial risk and portfolio management. What You Will Do The Portfolio Management Group is looking for a full-time entry-level professional to join our team. Our new colleague will have an opportunity to contribute to our client services in a variety of ways, including fund management operations, client reporting, plenty of coding projects, documentation work, and client presentation materials. Portfolio Management Analysts are responsible for the completion of our regular fund management operations, including our daily strategy calculations, scheduled and ad-hoc client reports, and programming automation tools to support the team's workflows. You will: Participate in an immersive learning experience to familiarize yourself with our operational process and systems for implementation of risk management strategies. Learn through hands-on utilization of Milliman's risk systems by running daily fund management operations. Compile and verify client reports, including performance attribution reports, risk reports, and portfolio allocation reports. Communicate with fund operations counterparties (custodian banks, fund accountants, trading partners) to reconcile any differences in account statements and ensure accuracy in our representation of fund assets. Develop and build tools and models to assist in strategy development, validation, and client reporting. Develop knowledge of derivative markets and risk management techniques, and provide support for research, consulting, and advisory work. Job Knowledge Required: Strong written and verbal communication skills. Proven record of reliability and dedication to high quality work. Ability to work effectively with Microsoft Office package, in particular Excel/VBA, PowerPoint, Word. Strong record of professional examinations and continued pursuit (SOA Exams, CFA Exams, FRM Exams). Strong understanding of financial markets, mutual funds, portfolio management, option pricing or option replication, derivative pricing, and hedging concepts. Coding knowledge and ability to think algorithmically/systematically. Bachelor's degree with a focus in Actuarial Science, Mathematics, Quantitative Finance, or related fields. Desired: Sharp critical thinking skills, sound judgment and decision-making ability, and both the ability and willingness to clearly articulate your ideas. Demonstrated aptitude for quantitative and critical thought. Ability to work in a fast-paced environment where the client is always our first priority. Ability to work both collaboratively and independently. Object oriented programming experience and working with databases (SQL, Access). Experience with Microsoft Power suite (Power Apps, Power Automate, Power BI). Additional Knowledge and Skills to Build: With the development of operational knowledge and demonstrated mastery of the role, your career progress will likely advance along a spectrum of portfolio management responsibilities, based on your strengths, interests, knowledge, and skills. If you're more suited to a client facing role, then a portfolio manager progression will allow you to: Lead client services on assigned accounts through relationship and project management. Manage client workflows to ensure compliance with applicable investment policy and Milliman FRM's internal quality risk management requirements. Support portfolio management operations partner in handling operational process exceptions Manage and supervise compliance with Milliman's internal quality management standards. Support client education regarding fund performance in the context of evolving risk in the global markets. Write responses to client questionnaires and client memos, develop presentation materials. Facilitate client discussions (primarily virtual presentations). Or you can move into a more technical, quantitatively oriented role where you will: Develop strong understanding of financial markets, derivatives, and hedging concepts. Engage in quantitative research in areas involving Probability, Stochastic Processes, Financial Derivatives and Pricing, Option Greeks, Option Pricing (Black Scholes) and Replication Techniques, Portfolio Management, etc. Develop and run complex financial projection software and summarize the results. Develop and grow your object-oriented programming skills to be able to contribute to software development projects in collaboration with PMG Research and Trading and Financial Technology groups. Milliman & FRM Practice Mission, Values, Competencies Our mission is to serve our clients to protect the health and financial well-being of people everywhere. We are influential market leaders, solving important problems through our deep subject matter expertise. In fulfilling this mission and values, Milliman's professionals are helping our clients answer significant questions, such as: How can people provide for themselves when they no longer work? How can our clients efficiently finance, deliver and improve healthcare? How can an insurer protect its clients against the risks they face? Since its founding in 1947, Milliman is dedicated to enduring values that govern our actions in the marketplace. Quality - Milliman's advice, products and client service adhere to the highest standards of quality. Integrity - Milliman's people demonstrate integrity in all that we do. We are committed to honesty and professionalism in our interaction with our clients and colleagues, including independent advice free of conflicts and a culture of inclusion and respect for all colleagues. Opportunity - Milliman is committed to embracing diversity and providing all our people opportunities to achieve their full potential including opportunities to: Shape their own careers Assist in developing the strategy of their practice Pursue innovations to further Milliman's mission in the marketplace At the Practice level, we strive to demonstrate the following performance competencies in our work, and to ensure mutual accountability, these are part of our performance management process: Collaboration and Teamwork - Actively works with members of other teams when confronted with a new or complex problem. Collaborates with people in other teams when asked to provide assistance. Coordinates work of teammates to complete routine work efficiently. Communication - Communicates clearly and concisely. Gives enough information, keeps team members informed. Listens effectively. Encourages others to express different ideas and perspectives. Open to constructive feedback. Gives quality, honest feedback. Effectively deals with conflict. Develops People - Develops team members through coaching, feedback, exposure and challenging assignments. Readily articulates the value and benefit of challenging assignments to others. Aligns career development goals with organizational objectives. Supports team members and helps them achieve results. Provides a clear sense of purpose and direction for team members. Innovation - Challenges the organization to adapt new and innovative processes. Creates an environment conducive to productive brainstorming and new idea creation. Generates innovative ideas and solutions to problems. Questions assumptions and traditions while understanding their reason for existing. Encourages creative and diverse thinking to promote and nurture innovation. Positive Culture - Shows respect for all colleagues. Considers "how" accomplishments are achieved in equal measure with "what" is achieved. Quality - Continuously deepens their expertise in their area(s) of work. Possesses technical skills and capabilities. Effectively manages work for clients and client relationships. Effectively manages work quality within the team. Effectively pursues or supports business development opportunities. Demonstrates good decision making in areas related to managing the business. Diversity, Equity & Inclusion is an important area of focus for our practice, and we expect all colleagues to foster a culture of belonging for all team members. We seek to continuously reflect on how we can be a more inclusive and equitable organization. We view diversity as not only a strength for our practice, but a business imperative to succeed in the marketplace. For additional conduct expectations, please reference Milliman's Code of Conduct. Performance and Career Growth This job description is intended to represent the duties of the role, and the knowledge, skills and experience needed to perform the role effectively. Our job descriptions will be used to set expectations for performance management, but no job description will represent all tasks and duties required. As professionals, our Practice also expects from you the following: A client centric culture requires all colleagues to think about how we can contribute to exceptional client service. We expect all colleagues to think this way, and to take appropriate action whether a task is in their job description, or not. Risk mitigation is central to our ways of working and our culture. We expect all colleagues to continually assess risk and raise concerns for the awareness of others who can work together to mitigate them. Performing the duties described in a job description meets the minimum requirements of a job. In order to receive career growth and compensation rewards, colleagues must exceed minimum expectations. There are a number of administrative responsibilities that come with working in our Practice. Timesheets, expense reports, performance management and compliance training are all required to ensure professional administration of our Practice, and all colleagues are expected to engage in these items in a timely manner. Benefits At Milliman, we focus on creating an environment that recognizes - and meets - the personal and professional needs of the individual and their family. We offer competitive benefits which include the following based on plan eligibility: A 401(k) plan with matching program, and profit-sharing contribution Employee Assistance Program (EAP) A discretionary bonus program Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason; full-time employees will accrue 15 days of PTO per year, and employees working less than a full-time schedule will accrue PTO at a prorated amount based on hours worked Family building benefits, including adoption and fertility assistance and paid parental leave up to 12 weeks for employees who have worked for Milliman for at least 12 months and have worked at least 1,250 hours in the preceding 12-month period Commuter Program, which allows you to use pre-tax dollars to pay for your parking or public transit expenses to get to and from work. You may utilize this benefit any time throughout the year and funds will be available the first of the month following your first contribution. A minimum of 8 paid holidays Milliman covers 100% of the premiums for life insurance, AD&D, and both short-term and long-term disability coverage Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation, and applicable medical needs Location Candidates hired into this role will be required to work in-person in the Milliman office in Chicago, IL on a weekly basis, but flexible work arrangements will be considered. Equal Opportunity All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. Qualifications Education Bachelors of Mathematics (preferred) Bachelors of Actuarial Science (required) Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

Created: 2024-11-05