ETF Portfolio Manager Team Lead

The Department

The Portfolio Management group manages 140 ETFs with AUM totaling approximately $21 billion across multiple strategies. There are plans to launch additional funds in the near future.

The Role

The Portfolio Manager Team Lead plays a critical role in the organization's growing ETF sub-advisory business. They implement passive investment strategies with an emphasis on minimizing tracking error and achieving tax efficiency. At any given time, the portfolios may hold various financial instruments including equities, treasuries, futures, swaps, and options depending on the specific strategy and market conditions.

Your Responsibilities:

• Review corporate actions and index changes to calculate 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) and validate portfolio 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

• A Bachelor's degree in business, finance, economics or similar degree required
• 5-10 years of experience in derivatives portfolio management, trading, fund accounting, corporate actions processing, or index research (experience an ETF Portfolio Manager is required)
• A minimum of 2 years managerial experience leading a team

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 communication skills and the ability to clearly and quickly communicate ideas and recommendations verbally and in writing
• Ability to multitask and thrive in a fast-paced environment
• Maturity, good judgment, and a professional demeanor
• Enrolled or seeking to enroll in the CFA or FRM program

Milliman & FRM Practice Mission, Values, Competencies

Our mission is to serve our clients to protect the health and financial well-being of people everywhere. We are influential market leaders, solving important problems through our deep subject matter expertise.

In fulfilling this mission and values, Milliman's professionals are helping our clients answer significant questions, such as:

• How can people provide for themselves when they no longer work?
• How can our clients efficiently finance, deliver and improve healthcare?
• How can an insurer protect its clients against the risks they face?

Since its founding in 1947, Milliman is dedicated to enduring values that govern our actions in the marketplace.

• Quality - Milliman's advice, products and client service adhere to the highest standards of quality.
• Integrity - Milliman's people demonstrate integrity in all that we do. We are committed to honesty and professionalism in our interaction with our clients and colleagues, including independent advice free of conflicts and a culture of inclusion and respect for all colleagues.
• Opportunity - Milliman is committed to embracing diversity and providing all our people opportunities to achieve their full potential including opportunities to:
  
  
  
  • Shape their own careers
  • Assist in developing the strategy of their practice
  • Pursue innovations to further Milliman's mission in the marketplace
  
  
  
  

Benefits

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.
  • Employees working less than full-time accrue PTO on a prorated basis.
  
  
  
  
• Holidays - A minimum of 10 observed 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.

Compensation

The salary range for this role is $181,610 - $299, 530, depending on a combination of factors, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, location, etc.

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.

Equal Opportunity

All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.