What are the responsibilities and job description for the Director, Portfolio Optimization position at Fidelity Investments?
Job Description
The Role
As an integral part of the Quantitative Research and Investing (QRI) group, the Mosaic team is responsible for the portfolio optimization system used for both quant research and managing portfolios at scale.
Primary Location: Boston, MA
Additional Locations: Merrimack, NH; Jersey City, NJ
The Expertise And Skills You Bring
As a part of the Mosaic team and working closely with your colleagues, you will diagnose inefficiencies of portfolio optimization construction in the Mosaic system. This requires expertise in both the computer science and mathematics of portfolio optimization. You will work closely with portfolio management teams to identify efficient algorithms to solve their requirements and with technology teams to implement those algorithms effectively. You will also work closely with third-party vendors to ensure the mathematical representation of problems are correctly structured and solved.
The base salary range for this position is $126,000-255,000 USD per year.
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.
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.
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 consult with your recruiter for the specific expectations for this position.
Certifications
Category:
Data Analytics and Insights
The Role
As an integral part of the Quantitative Research and Investing (QRI) group, the Mosaic team is responsible for the portfolio optimization system used for both quant research and managing portfolios at scale.
Primary Location: Boston, MA
Additional Locations: Merrimack, NH; Jersey City, NJ
The Expertise And Skills You Bring
- A Master’s degree or higher in mathematics or related fields, with emphasis in linear programming or optimization.
- 5 years’ experience building or enhancing the efficiency of portfolio optimizers, contributing through both software development and mathematics research.
- Success implementing heuristics and improving numerical stability in portfolio optimization structures, with direct experience using general purpose solvers such as Gurobi and CPLEX, or proprietary solvers.
- Demonstrable track record delivering mathematical and software solutions to common portfolio optimization challenges, including tax management and multi-period optimization.
- Expert-level development skills in Python.
- A leader who is focused on promoting a team culture of accountability and continuous improvement and removing drag forces to enable team success.
- Apply your domain expertise to improve mathematical and algorithmic implementation of portfolio optimization structures
- Improve sophisticated mathematical approaches and design feature implementations utilizing domain expertise in optimization.
- Address numerical instability common in portfolio optimization with insights in heuristics, transformations, or scaling opportunities.
- Work closely with third party vendors to ensure optimal implementation of their tools
- Partner with technology team members to support the development process, transfer domain knowledge, and ensure implementations are faithful to mathematical design.
- Help other team members resolve service requests from clients, identifying which challenges require code changes and guiding clients to solutions.
As a part of the Mosaic team and working closely with your colleagues, you will diagnose inefficiencies of portfolio optimization construction in the Mosaic system. This requires expertise in both the computer science and mathematics of portfolio optimization. You will work closely with portfolio management teams to identify efficient algorithms to solve their requirements and with technology teams to implement those algorithms effectively. You will also work closely with third-party vendors to ensure the mathematical representation of problems are correctly structured and solved.
The base salary range for this position is $126,000-255,000 USD per year.
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.
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.
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 consult with your recruiter for the specific expectations for this position.
Certifications
Category:
Data Analytics and Insights
Salary : $126,000 - $255,000