MassPRIM (Pension Reserves Investment Management Board), the $104 billion Massachusetts state pension fund, is looking to add an Investment Analyst to its growing Research team. PRIM’s Research team works alongside asset class teams to develop innovative investment research and sophisticated tools to achieve the optimal investment process. The research team conducts analysis in the following areas: strategic asset allocation, evidence-based climate investment research, data-driven ESG research, and manager selection.
The Investment Analyst-Research will conduct collaborative research across asset classes: Public Markets, Private Equity, Portfolio Completion Strategies, and Real Estate & Timberland. The Investment Analyst will build large data sets for processing and model estimations, test asset allocation frameworks and design & code full simulation back tests to live environment. This role offers the opportunity to gain experience in the investment management field working on large global pension fund initiatives with top investment management staff and firms.
- Build large data sets for signal processing and model estimation, including validation, normalization, dimension reduction and visualization.
- Test enhancements for the strategic asset allocation framework and investment strategies.
- Design and code full simulation back tests to live environment.
- Collaborate with fellow researchers, investment staff, and database developers to drive improvements and expansion of code base, data availability, and existing research framework.
- Brainstorm and present actionable research ideas based off a review of existing research and academic literature.
- Maintain an awareness of economic conditions and capital markets to form and justify investment recommendations.
Core Skills and Qualities
- Graduate degree in a quantitative discipline: economics, finance, engineering, statistics, applied mathematics, or computer science.
- 2-5 years of prior work experience in quantitative research preferred but not required.
- Strong programming skills in SQL and/or statistical analysis in MatLab, R, or Python.
- Competent practitioner of econometrics and quantitative finance techniques.
- Knowledge of multi-asset strategies, modern portfolio theories, and factor-based investing.
- Intellectual curiosity regarding investment management and academic research.
- Ability to comprehend, synthesize, evaluate, and clearly communicate complex financial concepts and solutions.
- Ability to work both independently and as part of a team.
- Ability to interact effectively with various stakeholders in and out of the organization
- Willingness to take ownership of activities outside direct job responsibilities
The Pension Reserves Investment Management (PRIM) Board manages the assets (~$104 billion) of the Pension Reserves Investment Trust Fund for public employee pension benefits on behalf of Massachusetts State Employees, Teachers, as well as participating retirement systems throughout the Commonwealth of Massachusetts. PRIM’s mission is to generate strong risk-adjusted investment returns that help the Commonwealth meet its pensions obligations and alleviate taxpayer burden. PRIM’s highly experienced, professional investment staff seeks to maximize the return on investment with an acceptable level of risk by broadly diversifying the investment portfolio, capitalizing on economies of scale to achieve cost-effective operations, and providing access to high-quality, innovative investment strategies.
It is the policy of Pension Reserves Management Board to afford equal employment opportunity to all qualified persons regardless of race, color, religious creed, national origin, ancestry, age, military status, sexual orientation, disability, genetic information, gender identity, gender expression or gender unless based upon a bona fide occupational qualification