Milliman ETF Portfolio Manager in Chicago, Illinois
Who We Are
The Chicago office of Milliman Inc. is looking for bright, enthusiastic and qualified candidates to work in their Financial Risk Management (FRM) practice.
Milliman’s rigorous, distinctly innovative approach to risk management is built on a foundation of actuarial expertise and shaped by some of the most advanced thinking in the industry. Whether you're looking to improve capital efficiency, comply with regulatory requirements, or guard against market volatility, Milliman offers a complete range of operational, strategic, and financial risk management solutions and tools.
We have a focused, multi-disciplinary team of actuaries, financial engineers/capital markets professionals and software developers working together to develop risk management solutions for the financial services industry. We currently advise some of the world's largest insurance companies in areas such as hedging strategy and operations, portfolio risk management, and capital requirements.
We hire the best in the business—and then trust them to do their work their way. It's about personal responsibility, creativity, flexibility. We believe great work happens in great work environments.
Our culture is highly collaborative with value placed on high quality work and innovation.
Milliman FRM LLC is seeking an ETF Portfolio Analyst to join its Portfolio Management Group in Chicago. The new analyst will play a critical role in the organization’s growing ETF sub-advisory business. Currently the group manages 22 ETFs with AUM totaling approximately $1.6 billion across multiple strategies and there are plans to launch additional funds in the near future. The analyst will work closely with portfolio managers to implement passive investment strategies with an emphasis on minimizing tracking error and achieving tax efficiency. At any given time the portfolios may hold various financial instruments including equities, treasuries, futures, swaps, and options depending on the specific strategy and market conditions.Your Role/What You’ll Do
You will:• Review corporate actions and index changes in order to calculate and execute rebalancing trades• Maintain proprietary trading models and evaluate their output• Implement tax efficiency strategies including the use of custom in-kind baskets and tax loss harvesting• Create portfolio listing files (PLF) and validate portfolio composition files (PCF) for each ETF• Reconcile fund NAVs and cash-related basket data points nightly• Perform attribution analysis of historical ETF returns• Monitor secondary market trading and communicate with market makers as needed• Complete ad hoc projects and respond to inquiries from clientsYour Qualifications
Essential:• A Bachelor’s in business, finance, economics or similar degree required• 3-5 years of experience in fixed income portfolio management, trading, fund accounting, corporate actions processing, or index research (experience with ETFs is desirable)
Desired:• Familiarity with the different stakeholders in the portfolio management process including Fund Accounting, Custodian, Transfer Agent, and Distributor is desirable• Strong Excel skills, familiarity with VBA is a plus• Strong analytical and information technology skills• Experience with Bloomberg• Strong communication skills and the ability to clearly and quickly communicate ideas and recommendations verbally and in writing• Ability to multitask and thrive in a fast-paced environment• Maturity, good judgment, and a professional demeanor• Enrolled or seeking to enroll in the CFA or FRM program
At Milliman, we focus on creating an environment that recognizes – and meets – the personal and professional needs of the individual. We offer a competitive benefits package which includes:
• Medical, dental and vision coverage for employees and their families, including eligible domestic partners.• A 401(k) plan with matching program• Profit sharing as a discretionary contribution to employees’ retirement accounts• Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason.• Voluntary benefits such as additional life or accidental death and dismemberment coverage for yourself or dependents• Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation and applicable medical needs
- 3-5 years: Experience in fixed income portfolio management, trading, fund accounting, corporate actions processing, or index research (experience with ETFs is desirable)
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)