ETF Portfolio Management Analyst
Milliman Ireland, Chicago, IL, United States
The Portfolio ManagementGroup manages 140 ETFs with AUM totaling approximately$21 billionacross multiple strategies.There are plans to launch additional funds in the near future.
The Role
TheAnalyst works closely withPortfolioManagers to implement passive investment strategies with an emphasis on minimizing trackingerrorand achieving tax efficiency.At any giventime,the portfolios may hold various financial instruments including equities, treasuries, futures, swaps, and options depending on the specific strategy and market conditions.
The Analyst plays a critical role in the organization’s growing ETF sub-advisory business.
Your Responsibilities:
Review corporate actions and index changesin order tocalculate and execute rebalancing trades
Maintain proprietary trading models and evaluate their output
Implement tax efficient strategies including the use of custom in-kind baskets and tax loss harvesting
Create portfolio listing files (PLF) andvalidateportfolio 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 clients
Job Knowledge, Experience Skills
Job Knowledge Required:
ABachelor’s degree in business, finance, economics or similar degreerequired
3-5 years of experience in fixed income or derivatives portfolio management, trading, fund accounting, corporate actions processing, or index research (experience with ETFs is desirable)
Experience and Soft Skills Required:
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 communicationskills and the ability toclearly and quickly communicate ideas and recommendations verballyand in writing
Ability to multitask and thrive in a fast-paced environment
Maturity, good judgment, and a professional demeanor
Enrolled orseekingto enroll in the CFA or FRM program
Additional Knowledge and Skills to Build:
Sharp critical thinking skills, soundjudgmentanddecision-makingability, and both the ability and willingness to clearly articulate your ideas
Demonstrated aptitude for quantitative and critical thought
Experience coding with financial markets, mutual funds, portfolio management, and derivatives
Experience coding complex projects in VBA
Grow subject matterexpertisethrough education and experience
Ability to complete work with limited oversight usingindependentjudgement
Location
Candidates hired into this role will be required to work in-person in the Milliman office in Chicago, IL on a weekly basis, but flexible work arrangements will be considered. The expected application deadline for this job is May 31, 2026.
Compensation
The overall range for this role is $97,865 - $161,575. A combination of factors will be considered, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, etc.
We offer a comprehensive benefits package designed to support employees’ health, financial security,and well-being. Benefits include:
Medical, Dental and Vision – Coverage for employees, dependents, and domestic partners
Employee Assistance Program (EAP) – Confidential support for personal and work-related challenges
401(k) Plan – Includes a company matching program and profit-sharing contributions.
Discretionary Bonus Program – Recognizing employee contributions
Flexible Spending Accounts (FSA) – Pre-tax savings for dependent care, transportation, and eligible medical expenses
Paid Time Off (PTO) – Begins accruing on the first day of work. Full-time employees accrue 15 days per year, and employees working less than full-time accrue PTO on a prorated basis
Holidays – A minimum of 10 paid holidays per year
Family Building Benefits – Includes adoption and fertility assistance
Paid Parental Leave – Up to 12 weeks of paid leave for employees who meet eligibility criteria
Life Insurance & AD&D – 100% of premiums covered by Milliman
Short-Term and Long-Term Disability – Fully paid by Milliman
All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.
Qualifications Education Required Bachelors or better in Business or related field.
Bachelors or better in Economics or related field.
Bachelors or better in Finance or related field.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.
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The Role
TheAnalyst works closely withPortfolioManagers to implement passive investment strategies with an emphasis on minimizing trackingerrorand achieving tax efficiency.At any giventime,the portfolios may hold various financial instruments including equities, treasuries, futures, swaps, and options depending on the specific strategy and market conditions.
The Analyst plays a critical role in the organization’s growing ETF sub-advisory business.
Your Responsibilities:
Review corporate actions and index changesin order tocalculate and execute rebalancing trades
Maintain proprietary trading models and evaluate their output
Implement tax efficient strategies including the use of custom in-kind baskets and tax loss harvesting
Create portfolio listing files (PLF) andvalidateportfolio 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 clients
Job Knowledge, Experience Skills
Job Knowledge Required:
ABachelor’s degree in business, finance, economics or similar degreerequired
3-5 years of experience in fixed income or derivatives portfolio management, trading, fund accounting, corporate actions processing, or index research (experience with ETFs is desirable)
Experience and Soft Skills Required:
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 communicationskills and the ability toclearly and quickly communicate ideas and recommendations verballyand in writing
Ability to multitask and thrive in a fast-paced environment
Maturity, good judgment, and a professional demeanor
Enrolled orseekingto enroll in the CFA or FRM program
Additional Knowledge and Skills to Build:
Sharp critical thinking skills, soundjudgmentanddecision-makingability, and both the ability and willingness to clearly articulate your ideas
Demonstrated aptitude for quantitative and critical thought
Experience coding with financial markets, mutual funds, portfolio management, and derivatives
Experience coding complex projects in VBA
Grow subject matterexpertisethrough education and experience
Ability to complete work with limited oversight usingindependentjudgement
Location
Candidates hired into this role will be required to work in-person in the Milliman office in Chicago, IL on a weekly basis, but flexible work arrangements will be considered. The expected application deadline for this job is May 31, 2026.
Compensation
The overall range for this role is $97,865 - $161,575. A combination of factors will be considered, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, etc.
We offer a comprehensive benefits package designed to support employees’ health, financial security,and well-being. Benefits include:
Medical, Dental and Vision – Coverage for employees, dependents, and domestic partners
Employee Assistance Program (EAP) – Confidential support for personal and work-related challenges
401(k) Plan – Includes a company matching program and profit-sharing contributions.
Discretionary Bonus Program – Recognizing employee contributions
Flexible Spending Accounts (FSA) – Pre-tax savings for dependent care, transportation, and eligible medical expenses
Paid Time Off (PTO) – Begins accruing on the first day of work. Full-time employees accrue 15 days per year, and employees working less than full-time accrue PTO on a prorated basis
Holidays – A minimum of 10 paid holidays per year
Family Building Benefits – Includes adoption and fertility assistance
Paid Parental Leave – Up to 12 weeks of paid leave for employees who meet eligibility criteria
Life Insurance & AD&D – 100% of premiums covered by Milliman
Short-Term and Long-Term Disability – Fully paid by Milliman
All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.
Qualifications Education Required Bachelors or better in Business or related field.
Bachelors or better in Economics or related field.
Bachelors or better in Finance or related field.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.
#J-18808-Ljbffr