Apr 14, 2024

Associate Director, Risk Oversight, Equities

  • Professional Diversity Network
  • Boston, MA, USA
Full-Time Other

Job Description

Wellington Management Company, LLP

About Us

Wellington Management offers comprehensive investment management capabilities that span nearly all segments of the global capital markets. Our investment solutions, tailored to the unique return and risk objectives of institutional clients in more than 60 countries, draw on a robust body of proprietary research and a collaborative culture that encourages independent thought and healthy debate. As a private partnership, we believe our ownership structure fosters a long-term view that aligns our perspectives with those of our clients.

About the Role

THE POSITION
The Associate Director, Risk Oversight, Equities position is part of the Global Risk and Analytics (GRA) team. GRA is the global investment risk function for Wellington and sits within the firm's Risk & Investment Science division. GRA leads Wellington Management's portfolio oversight, risk measurement, and security analytics processes across our broad multi-asset, hedge fund, equity, fixed income and research strategies. The Associate Director will work closely with the Director, Global Risk & Analytics as well as colleagues overseeing risk for equities. She/he will work with Wellington's investment teams to help them use risk and quantitative tools to inform their portfolio construction and investment processes.
The Associate Director will lead Risk Oversight for Wellington's $650+ billion equity investment platform. They will have a significant opportunity to influence Wellington's equity investing. Acting as a player-coach for the equity risk team, they will lead risk consultations with investors and formal risk oversight processes, conduct risk-related research, drive a culture of risk aware decision making, oversee critical risk related processes, and promote risk management best practices across WMC's equities strategies. The Associate Director will work as a key resource for Equity Line Management, providing insights on portfolio management teams and identifying platform wide commonalities and outliers in equity risk taking. They will contribute to the GRA research agenda and the firm's investment dialog and to develop differentiated and innovative perspectives on the risk in global equity markets. They will develop and execute the strategic direction of Wellington's equities oversight capabilities and pioneer new analytics and research, coordinating these efforts with the entire Global Risk and Analytics team.
The Associate Director role entails extensive interaction with equity portfolio managers and requires building strong collaborative relationships with equity investment teams and line management. The successful candidate will establish credibility through depth of knowledge, experience, and stature in risk and portfolio management and create a shared vision of the benefits of risk-aware portfolio construction and decision making. In addition to investment teams, the Associate Director will frequently interact with senior management, product management and our clients, prospects and key consultants. The candidate should possess a high degree of fluency and skill translating investment risk expertise to portfolio management, analytical curiosity, strong organizational skills, passion for investing, be motivated by a team environment, and be able to learn about new analytical applications and investment products.
The Associate Director will be expected to establish collaborative working relationships with investment teams and all levels of management across functional groups at WMC, including: Investment Product & Fund Strategies, Portfolio Services, and Information Technology.
The firm maintains a sophisticated, comprehensive, proprietary risk management and stress testing system and the team's risk work includes significant empirical work using the firm's internal technology and Python environments. The Associate Director will play a key role in leading empirical research on equity risk, contributing to the firm's internal risk modeling capabilities, and translating these insights effectively and practically to our portfolios.

RESPONSIBILITIES
* Lead a team of 7 equity risk professionals responsible for risk management across Wellington's equity business.
* Partner with senior management including the Director of Equity Boutiques, Head of Investment Research, Director of Global Risk and Analytics, Head of Risk and Investment Science, and Heads of Investment Products and Fund Strategies to oversee jointly an effective, comprehensive risk program for the equity business and ensure our fiduciary obligations are met.
* Set a vision for and foster a culture of risk aware decision making for Wellington's equity investing.
* Collaborate with senior peers in GRA across risk functions to contribute to the team's risk work across asset classes.
* Work with equity portfolio management teams to assess risks and provide strategic, complementary insights to inform their portfolio construction and risk management.
* Help investment teams implement their investment views efficiently and achieve superior risk adjusted performance.
* Contribute to the investment dialog of the firm based on specialized, differentiated viewpoints related to equity market and portfolio risk.
* Identify, research and highlight significant investment trends and major risks across our equities investment platform.
* Participate in the development of new and differentiated analytics.
* Act as a coach and mentor for the analysts on the team, helping to define their goals, identify development opportunities, and grow professionally.
* Contribute to the strategic vision and execution of the Global Risk and Analytics team.
* Represent the Wellington investment risk function at due diligence meetings, client seminars, and research forums.

QUALIFICATIONS
The Associate Director role requires significant experience managing equity risk or equity quantitative research functions for an institutional investment manager or hedge fund and the proven ability to work effectively with portfolio management teams. Strong knowledge of equity analytics and risk modeling is essential. In addition, the ideal candidate will have a strong analytical and systems background with an ability to learn new applications and create leading edge risk evaluation techniques. The ideal candidate should be an empathetic leader with the strongest ability to build trust-based relationships with investors. The individual should possess the ability to recognize broad investment trends, determine the risk implications beyond the individual portfolio level, and communicate the resulting risks across our various investment platforms.

Additional qualifications include:

* 15+ years of experience in institutional asset management in a role relevant to the requirements of this position.
* Ability to lead teams with a focus on providing strategic direction, mentorship and guidance, as well as cross-functional, multi-phase projects.
* Deep understanding of portfolio construction, risk analytics, and investments; a solid analytical foundation and domain expertise in equities risk measurement.
* Expert level understanding of empirical asset pricing theory and risk neutral asset pricing theory.
* Ability to manage multiple tasks, prioritize effectively, meet deadlines and deliver high quality, accurate work in a fast-paced environment.
* Excellent written, oral, and interpersonal communication skills.
* While not a requirement, the ideal candidate will likely possess an advanced degree in a quantitative field (economics, mathematics, physical sciences, finance, or statistics).

#LI-AT1

Not sure you meet 100% of our qualifications? That's ok. If you believe that you could excel in this role, we encourage you to apply and welcome a chance to review your background. We are dedicated to building and maintaining a diversified workforce and considering a broad array of candidates with a variety of skill, workplace experiences, and backgrounds.

As an equal opportunity employer, Wellington Management ensures that all qualified applicants will receive equal consideration for employment without regard to race, color, sex, sexual orientation, gender identity, gender expression, religion, creed, national origin, age, ancestry, disability (physical or mental), medical condition, citizenship, marital status, pregnancy, veteran or military status, genetic information or any other characteristic protected by applicable law. If you are a candidate with a disability, or are assisting a candidate with a disability, and require an accommodation to apply for one of our jobs, please email us at [email protected].

At Wellington Management, our approach to compensation is designed to help us attract, inspire and retain the best talent in our industry. We strive to pay employees fairly and competitively across all levels and roles. Our approach to compensation considers all aspects of total compensation; all employees are eligible to receive salary, variable compensation, and benefits. The base salary range for this position is:

USD 100,000 - 225,000

This range takes into account the wide range of factors that are considered when making compensation decisions, including but not limited to skill sets; role; skills and experience; certifications; and education. This range is an estimate, and further details on salary and total compensation aspects will be shared with candidates during the recruitment process.

Base salary is only one component of Wellington's total compensation approach. Other rewards may include a discretionary Corporate Bonus and/ or Incentives, if eligible. In addition, we offer a comprehensive and high value benefit package to meet the unique needs of our employees and their families, and we are committed to fostering a flexible work environment that enables employees to thrive personally and professionally. Examples of our benefits include retirement plan, health and wellbeing, dental, vision, and pharmacy coverage, health savings account, flexible spending accounts and commuter program, employee assistance program, life and disability insurance, adoption assistance, back-up childcare, tuition/CFA reimbursement and paid time off (leave of absence, paid holidays, volunteer, sick and vacation time)

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