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Type of Role: InvestmentsRisk

Experience Level: Analyst/Associate

Location: Madison, Wisconsin

Salary: $120K - $150K

The State of Wisconsin Investment Board (SWIB), founded in 1951, is a premier global investment organization responsible for managing the more than $145 billion of assets of the Wisconsin Retirement System (WRS), the State Investment Fund and other funds. Through SWIB’s effective and innovative investment management, WRS remains one of the only fully funded US public pensions. We are the 9th largest public pension fund in the U.S. and the 25th largest public or private pension fund in the world. SWIB is recognized by the investment industry for our teamwork and innovation. SWIB pursues sophisticated global investment strategies across the asset and risk
allocation spectrum. Providers across the investment ecosystem seek to partner with SWIB.
About the Team
The Asset & Risk Allocation (ARA) division is responsible for the overall investment structure of the Core and Variable Trust Funds. ARA recommends and implements the asset allocation for the policy portfolio, and recommends and implements the active risk budget.  ARA also drives and supports the exposure management process for making investments at the “top of the house,” including macro-driven asset class, market and currency positioning and the up-scaling of select bottom-up investment opportunities. The ARA division is currently composed of 28 team members with an average of 15 years’ relevant experience.
This role offers a unique opportunity to learn and contribute to all facets of the asset allocation investment process, with a focus on quantitative evaluation of investment risks and opportunities.
Position Overview
Essential activities:
  • Responsible for conducting rigorous quantitative analysis across a broad spectrum of asset classes, using advanced statistical techniques and investment insights to bolster existing and new investment strategies.
  • Statistical modelling with emphasis on time-series analysis.
  • Identify and manage new datasets that support investment decisions and risk management processes.
  • Create and use algorithms to investigate data sets and check them for consistency.
  • Support senior team members by helping to code new models, test these models, validate them, document them, and run model monitoring processes.
  • Assist in providing analysis in key areas including risk monitoring, risk management and risk/return optimizations for ARA strategies.
  • Assist in analyzing approaches to solving investment problems, quantifying results and recommending practical implementation approaches.
  • Assist in conceptualizing relative valuation strategies, developing and continuously improving mathematical models, and translating math into code.
  • Back-test investment ideas and develop quantitative tools and risk management concepts.
  • Work collaboratively across several functional areas within SWIB.
The ideal candidate:
  • Advanced Degree in finance, economics, or another related field
    • High-level econometric and math skills.
    • Proven ability to conduct empirical research.
    • Ability to grasp the economic essentials of a problem as well as its technical aspects.
    • Strong programming, analytical, and quantitative skills.
    • Proficiency in a programming language is a must-have requirement. MATLAB is our strongly preferred language.
    • Ability to work with and organize large data sets for statistical analysis including some familiarity with database management.
  • Professional background
    • Overall work experience of 1 to 3 years, which may include internships or relevant dissertation work
    • CFA and/or FRM or other appropriate professional investment designation or progress towards appropriate designation (desirable)
    • Creativity and a willingness to seek and present new ideas
    • Excellent verbal and written communication skills
    • An ability to be adaptive and thrive in a fast-paced, changing environment
    • Strong work ethic, attention to detail, team orientation

SWIB Offers:

  • Competitive total cash compensation, based on AON (formerly McLagan) industry benchmarks
  • Comprehensive benefits package
  • Educational and training opportunities
  • Tuition reimbursement
  • Challenging work in a professional environment
  • Hybrid work environment
The position requires U.S. work authorization. 
Pursuant to our Hybrid Remote Work Policy, all staff have the flexibility to work remotely, but are required to have a weekly presence in our offices, the frequency of which is dependent on their distance from office. Staff are not required to reside locally; however, we offer relocation reimbursement to the Dane County area per our policy.
All SWIB employees are subject to SWIB’s Ethics Policy and Personal Trade Approvals Policy. These policies include restrictions on outside business activities and employment and have limits on personal trading.  You may request copies of these policies from SWIB’s talent acquisition team and any questions can be answered by SWIB’s compliance team.