Director of Model Validation, Analytics

| Chicago, IL | Hybrid
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About the role: As Director of Model Validation, Analytics you would develop and implement model validation frameworks for approved research products from prototype phase to a fully-fledged, scalable, and client-facing service. These research products leverage deep principles of Statistics, Machine Learning, AI and are built on massive amounts of financial datasets.These services must be integrated into Morningstar's platforms and support the full breadth of Morningstar products from software tools to data feeds to APIs to indexes.
We are looking for an individual who possesses strong Econometric knowledge coupled with technical skills and leverage them to build efficient model verification frameworks for evolving FinTech solutions. Alongside the person should have a passion for investment research. This position reports to the Head of Product Management, Analytics and will work closely with analytical teams support risk analytics, Managed Product and Equity Ratings, and Portfolio & Financial Planning.
Job responsibilities:

  • Consult and guide governance councils (analytics, ratings, and AI) as it relates to quality, model selection, and approvals. Create process for logging, and create quarterly report cataloguing all errors for the Executive Leadership Team.
  • Assist in RFPs and onboarding for new clients who need help validating our models
  • Ensure independent model validation and review of all Analytics models (Risk Models, Morningstar Equity/Fund Ratings) and capabilities, performing several of these model validations and reviews as an individual contributor
  • Develop and improve Model Validation framework for all models working with engineering, product, and analysts.
  • Create consistent methods, processes, and tools for escalations, errors, and triaging
  • Work with Research Operations to create and maintain documentation for periodic model validation/ methodology review
  • Manage 10+ person Model Validation team across global locations, and support model validation activities and impact analyses in partnering teams without direct management responsibilities
  • E2E verification (data, models) for a variety of analytics and machine learning/AI projects.
  • Check stability, conceptual soundness, model assumptions, mathematical, statistical logic, etc.
  • Create consistent methods, processes, and tools for escalations, errors, and triaging
  • Develop codes in Python to automate processes to interface with Morningstar's databases to support model validation. Automate process to reduce human intervention.
  • Build rich dashboard to support Quality Checks(interactive/automated/visual) that improve the interpretability of predictive models and underlying data
  • Support model runs in model development process
  • Conduct independent research on new methods or technologies


Qualifications:

  • 5 - 10 years experience in analyzing/ building financial models preferably in a FinTech environment.
  • 5+ years of Managing resources across multiple locations
  • Deep knowledge in Quantitative methods / econometrics/ statistics.
  • Strong in Regression analysis, Time series Analysis, optimization.
  • Knowledge of Risk Models and Optimization algorithms.
  • Good working knowledge of Python and SQL, Machine learning, exploratory data analysis
  • Knowledge of AWS, Tableau and ML/ DL algorithms is a plus.
  • Strong candidates should have a graduate degree in computer science, statistics, econometrics, mathematics, computational finance, or similar


001_MstarInc Morningstar Inc. Legal Entity
Morningstar's hybrid work environment gives you the opportunity to work remotely and collaborate in-person each week. We've found that we're at our best when we're purposely together on a regular basis, at least three days each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.

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Technology we use

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An Insider's view of Morningstar

What does your typical day look like?

Every day is a little different. Our team is focused on POC (Proof of Concepts). My work involves problem-solving, development and software design. I work on the Data collections team, currently most of this involves, on a high level, automating the process currently used to collect data from raw sources through Machine Learning.

Upasna

Software Engineer, Data Collections - AI R&D

How does the company support your career growth?

We believe in promoting from within, based on previous impact to the team. Whenever possible, we will stretch our employees to take on expanded roles that aligns with the career progression they are interested in.

Jeff

Head of Technology and Product

What are Morningstar Perks + Benefits

Morningstar Benefits Overview

At Morningstar, your contributions have meaning and can drive change. Across our 29 offices worldwide, we’ve invested in fostering a community where talented, driven people can grow. Our entrepreneurial spirit and uncompromising ethics guide everything we do. It’s all in the name of empowering investors. Morningstar is proud to offer a comprehensive benefits package to eligible, full-time employees in the United States who work a minimum of 30 hours per week. Our benefits are designed to invest in your -- and your family's well-being, including investments in your health and financial future.

Culture
Volunteer in local community
Morningstar encourages our colleagues to become involved in their communities, by providing paid time off for volunteer activities.
Partners with nonprofits
Open door policy
OKR operational model
Team based strategic planning
Open office floor plan
Flexible work schedule
Morningstar provides employees with a flexible work schedule that includes Summer hours, Work from home, Flexible start and end times.
Remote work program
The safety of our employees is very important to us. We have been operating remotely due to COVID-19.
Diversity
Dedicated diversity and inclusion staff
Mandated unconscious bias training
Morningstar encourages unconscious bias training for all employees, especially managers and hiring personal. We believe that by raising awareness of bias we can decrease its effects.
Diversity manifesto
Diversity employee resource groups
Hiring practices that promote diversity
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Morningstar offers two Flexible Spending Accounts (FSA)— one for healthcare expenses and one for dependent care expenses. You may enroll in both $ determine the contribution amount.
Disability insurance
Dental insurance
Our dental plan covers 100% of preventive services, 80% of basic services, and 50% of major services.
Vision insurance
With Morningstar's vision benefits you can get an annual eye exam with an in-network provider with just a $10 copay.
Health insurance
Morningstar continues to offer the choice of two medical plans—the Savings Plan and the Classic Plan. Both are administered by Blue Cross and Blue Shield of Illinois (BCBS).
Life insurance
Morningstar offers 4 tiers of life insurance that offer varying benefits. Basic Life insurance is equal to 1 times an employee's annual salary.
Wellness programs
Mental health benefits
Our insurance covers 80% on in-network mental health services. Our Employee Assistance Program provides no-cost, confidential, 24-hour counseling on a wide variety of issues.
Financial & Retirement
401(K)
Take advantage of a number of Morningstar tools to help you manage your 401(k) account and your finances, including Morningstar Retirement Manager, available to you at no cost.
401(K) matching
Morningstar provides employees with a 401(k) matching plan managed. We match $0.75 for every dollar contributed, up to a maximum of 7% of employee pay contributed to the plan each pay period.
Company equity
Morningstar’s global employee equity benefit, Shared Ownership, enables you to take a portion of your bonus payout and exchange it for RSUs, with Morningstar providing an additional 50% match.
Employee stock purchase plan
Colleagues who exceed their performance goals substantially may be eligible for Impact RSU Awards as an additional reward on top of their cash bonus/commission award.
Performance bonus
Charitable contribution matching
Morningstar's Matching GIfts program will match your charitable giving up to the local currency equivalent of $500 USD per calendar year.
Child Care & Parental Leave Benefits
Childcare benefits
Colleagues who exceed their performance goals substantially may be eligible for Impact RSU Awards as an additional reward on top of their cash bonus/commission award.
Generous parental leave
Morningstar has a global minimum of 6 weeks paid time-off to bond with new family members. This benefit applies to all individuals equally, including birth mothers, fathers, adoptive parents.
Family medical leave
Eligible employees may take up to 12 weeks of job-protected, unpaid leave per year for certain specified reasons, and up to a total of 26 workweeks of leave to care for a family member.
Adoption Assistance
We reimburse up to 80% for eligible adoption expenses, up to $4,000 per adoption, in addition to a minimum of 6 weeks paid time off.
Return-to-work program post parental leave
Company sponsored family events
Morningstar sponsors family oriented events Annually.
Vacation & Time Off Benefits
Unlimited vacation policy
Generous PTO
Paid volunteer time
Our employees receive 2 days per year of paid volunteer time.
Sabbatical
Paid holidays
Paid sick days
Office Perks
Commuter benefits
Company-sponsored outings
Free daily meals
Some meals provided
Company-sponsored happy hours
Recreational clubs
Relocation assistance
Fitness stipend
Professional Development Benefits
Job training & conferences
Tuition reimbursement
Lunch and learns
Promote from within
Mentorship program
Continuing education stipend
Continuing education available during work hours
Online course subscriptions available
Customized development tracks
Paid industry certifications

Additional Perks + Benefits

Compensation at Morningstar is more than a salary. It’s about making positive contributions to both life and work. We give our diverse workforce the choice and flexibility they need to maintain their health, retirement plans, time, and professional growth.

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