Associate Director, Portfolio Construction

  • Competitive
  • Boston, MA, USA
  • Permanent, Full time
  • Wellington Management Company, LLP
  • 12 Dec 18

Associate Director, Portfolio Construction

WELLINGTON MANAGEMENT

Wellington Management offers comprehensive investment management capabilities that span nearly all segments of the global capital markets. Our investment solutions, tailored to the unique return and risk objectives of institutional clients in more than 50 countries, draw on a robust body of proprietary research and a collaborative culture that encourages independent thought and healthy debate. As a private partnership, we believe our ownership structure fosters a long-term view that aligns our perspectives with those of our clients.

POSITION

Wellington is seeking an Associate Director, Portfolio Construction (Associate Director) to work with the Global Risk and Analytics (GRA) team within Wellington Investment Science. GRA is one of five teams within Investment Science and the others are: Quantitative Investment Group (QIG), Investment Data Science (IDS), Trading & Market Strategies (TMS) and Global Derivatives. GRA works with Wellington investors to improve investment outcomes and risk-adjusted performance through quantitative approaches to risk measurement, security analytics, portfolio construction, risk oversight and engagement.  

Wellington's multi-boutique investment platform manages client mandates that span both quantitative and qualitative approaches to portfolio construction across equity, fixed income, and commodity portfolios, as well as absolute return, benchmark-relative, and custom strategies which are tailored to specific client needs. The Associate Director role will have scope and impact across Wellington's global investment platform, encompassing all investment styles, asset classes, and portfolio construction methodologies relative to different investment objectives.  The Associate Director, Portfolio Construction is a newly created position at Wellington which will report directly to the Director, Global Risk & Analytics and be based in Boston, the firm's global headquarters. 

The Associate Director will fulfill a critical mandate for Wellington by continuing to develop and driving execution of the vision for this sophisticated functionality on our global platform.  Working with portfolio managers, Investment Science colleagues and senior members of GRA, the Associate Director will develop and implement quantitative methodologies for portfolio construction, both on an ad-hoc basis, responding to real-time requests from portfolio managers, and on a systematic basis, building scalable solutions for portfolio construction.

This newly established specialization on quantitative portfolio construction will provide Wellington with best in class and modern capabilities. The Associate Director, Portfolio Construction is expected to act as a thought leader and domain expert for the firm and to help articulate a vision for the tools, methodologies, and optimal workflow associated with portfolio construction. Examples of the scope of work for this position include developing methodologies for helping portfolio managers align intuitive views on expected return with quantitative techniques for position sizing; effective scalable approaches to implementing consistent active positions across multiple accounts with differing client guidelines and benchmarks; and implementing formal optimization techniques and associated workflows within Wellington's portfolio management software.

The work driven by the Associate Director will be done both via direct individual engagements with portfolio managers and investment boutiques on specific portfolio construction questions, and in a more scalable form, working with Wellington's information technology and portfolio services teams to build software to support portfolio implementation that reflects the portfolio construction analytics.

The ideal candidate must have significant experience in asset management, portfolio optimization, quantitative asset pricing, and in leading the implementation of quantitative techniques in software. To be successful the candidate will need to be able to: build strong working relationships with senior portfolio managers, communicate complex topics to non-quantitative Wellington professionals and guide them in the use of quantitative techniques, and direct  programmers and IT staff in the implementation of robust, scalable software with user friendly work flows.

QUALIFICATIONS

  • Significant experience working in the asset management or closely related industry
  • Deep understanding of asset pricing and portfolio construction paradigms
  • Strong communication skills and gravitas commensurate with working with senior portfolio managers at a large asset management company
  • Strong technical background for prototyping and implementing, in code, optimizations and calculations relevant to programming skills (Python, R, SQL)
  • Ability to conduct independent research in a collaborative team environment
  • Experience managing a small team and interest in mentorship within a collaborative, development-oriented culture
  • Advanced degree (Masters or PhD level) in finance, econometrics, quantitative field (math, statistics, physics, electrical engineering, operations research)


JOB TITLE
Associate Director, Portfolio Construction

JOB FAMILY

LOCATION
280 Congress

As an equal opportunity employer, Wellington Management considers all qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, gender identity, gender expression, religion, creed, national origin, age, ancestry, disability (physical or mental), medical condition, citizenship, marital status, pregnancy, veteran or military status, genetic information or any other characteristic protected by applicable law. If you are a candidate with a disability, or are assisting a candidate with a disability, and require an accommodation to apply for one of our jobs, please email us at Wellington@icareerhelp.com .