Quantitative Analytics Officer

About TRS

Founded in 1939 by the Illinois General Assembly, the Teachers’ Retirement System of the State of Illinois (TRS) is one of the largest pension systems in the United States. We provide retirement, disability and survivor benefits to teachers, administrators and other public-school personnel employed outside the city of Chicago. The System serves over 448,000 members and had assets of $74.0 billion as of September 30, 2024. TRS is governed by a 15-member Board of Trustees. 

Mission Statement

Delivering expert pension services to Illinois public educators, helping them achieve their promised retirement security.

The Investments Team

An investments career with TRS is an opportunity to help Illinois public educators achieve their promised retirement security. The Investments team at TRS serves a critical role within TRS’ mission, as the team collectively manages and monitors over $74.0 billion in retirement assets on behalf of the System, as of September 30, 2024. The team consists of over 20 professionals that are responsible for evaluating and selecting external investment managers for the investment portfolio. Investing in a variety of strategies spanning equity, fixed income, real assets, hedge funds, and private markets asset classes, the team’s investment process includes significant qualitative and quantitative diligence.  Investment professionals meet with existing and prospective managers to evaluate manager returns, risk, and fit within the portfolio.  Manager exposures, track record, and other data are thoroughly analyzed within multiple systems throughout the investment process.

Job Summary

The Quantitative Analytics Officer will collaborate with the investments team and play a pivotal role in implementing the quantitative investment analysis strategy for the ~$74 billion investment portfolio of the Teachers' Retirement System of the State of Illinois. Reporting directly to the Executive Director/Chief Investment Officer, this position is responsible for coding, developing, and implementing quantitative models seeking to optimize the System’s risk-adjusted returns, and providing quantitative analysis that supports the strategic investment decisions across all asset classes.

The Officer will collaborate with internal and external stakeholders and contribute to the overall investment analysis strategy to ensure TRS’ long-term financial sustainability and growth.

Essential Functions

• Develop and implement quantitative models to analyze asset classes, optimize portfolio construction, and evaluate market opportunities and risks. Apply quantitative techniques to back-test investment ideas and provide ex-ante investment analysis to align portfolios with expected risk-return profiles.
• Work with investment leadership and the Director of Risk to recommend and implement risk management controls and contribute to risk budgeting across portfolios, ensuring compliance with TRS’ investment policies and procedures.
• Deliver analytics to monitor System investment performance, identify trends, and inform investment decisions. Present quantitative findings and recommendations to the Chief Investment Officer, Deputy Chief Investment Officer, internal investment oversight committees, and the TRS Board of Trustees as needed.
• Work closely with investment leadership, the Director of Risk, investment operations, internal investment teams, investment managers, consultants, and other stakeholders to gather data and insights needed for quantitative modeling and risk assessments.
• Identify, develop, and integrate new data sources, technologies, and methodologies to improve the accuracy and efficiency of TRS’s quantitative models.
• Effectively communicate complex quantitative concepts and model outputs to stakeholders, including investment staff, the TRS Board of Trustees and investment leadership, in clear and concise terms.

Knowledge, Skills and Abilities

• Ability to translate complex quantitative findings into practical investment solutions and strategies.
• Excellent verbal and written communication skills and ability to work well both independently and within a team environment
• Excellent organizational skills, strong analytical and problem-solving skills
• Excellent project management skills and ability to build positive working relationships and collaborate in cross-functional teams
• A curious mind, passion, and motivation to learn new skills, tools, and techniques necessary to tackle investment challenges

Minimum Requirements

• Bachelor’s degree in computer science, mathematics, statistics, engineering, physics, or a related field is required.
• Experience with quantitative modeling or quantitative investment portfolio management
• Advanced proficiency in statistical modeling, data analysis, and programming (Python, R, MATLAB, SQL, etc.).
• Experience with machine learning, multi-variate regression and similar data analysis techniques
• Experience with reporting and data visualization tools such as Tableau or PowerBI

Benefits

• State, health, dental, life, and vision insurance
• 12 vacation, 12 sick, and 3 personal time days of compensated time
• Teachers’ Retirement System Pension
• Deferred compensation plan