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Quantitative Associate, Risk Special Projects

New York

MIO Partners Inc. (MIO) is a global, world-class investment and advisory institution with a decades-long track record of performance for our clients through multiple market cycles. Our team of approximately 250 people provides asset management and advisory services to current and former McKinsey employees. We manage more than $20 billion in assets across public and private markets. We are headquartered in New York City, with offices in Atlanta, Georgia;  West Palm Beach, Florida; Germany; Hong Kong; Singapore; Spain; and the UK.

We provide objective advice on long-term wealth building and create distinctive investment products that deliver value relative to market-based benchmarks. We operate two core lines of business: (i) our advisory team provides advice, wealth planning, and retirement services to approximately 2500 individual clients, and (ii) our investments business consists of alpha-seeking alternative investment strategies across public and private markets. 

A defining characteristic of our business is our perfect alignment with our clients. Our extraordinary mandate as a boutique investment and advisory firm, grounded in a core set of principles, enables us to create unique products and services while keeping our clients’ interests front and center. 

Much of our success can be attributed to our insatiable intellectual curiosity. We seek to hire individuals who are passionate about our mission and values, and who always strive toward excellence. We care about fostering a culture of continual improvement, as individuals and as an organization, and are excited to work with individuals who have a similar growth mindset. We are proud to have a culture that promotes the highest ethical standards and investor-focused values, alongside a commitment to diversity and inclusivity and a highly collaborative work environment.

MIO (and related entities) is an independent, indirect, and wholly owned subsidiary of McKinsey & Company. 

The Risk Team

The Risk Team works closely with our colleagues across Investments, Treasury, Operations, and Legal to assess and manage the risks we and our investors face.  The nature of our work, and our team culture, is defined by the following characteristics:

  • Strategic and Disciplined Decision Making: We add value through an in-depth understanding of the nature and impact of various risks and consistently reflecting them in our decisions. We aim to ensure that our portfolios are sufficiently resilient without undue cost or unreasonably limiting our investment opportunities.
  • Thought Partnership: We are independent, but not isolated. We aim to get to the best understanding and approach through collaborating with our colleagues. We are not afraid to challenge or be challenged, supported by our mutual commitment to the interests of our clients.
  • Uniquely Broad Portfolio: The diversity of our investments – across strategies, markets, and legal structures – creates a complex and evolving opportunity set that demands and provides significant opportunity for professional development. We embrace this opportunity and prioritize the development of our team members and collective capabilities.
  • Operational Excellence: We ensure our decisions are accurately implemented every day through rigorous upfront testing of our systems and daily diligence. We need to understand the limitations of each process and recognize when it does not apply to a new situation.
  • Innovative Thinking: We try to learn from the collective experience of our profession across the industry while being unafraid of doing things differently (after rigorous evaluation).

The Position

The position reports to our Head of Risk Special Projects and will support all efforts pertaining to executing projects to enhance MIO’s Risk capabilities across multiple risk strips including but not limited to Liquidity, Counterparty, Operational and Market Risk. 

The Quantitative Associate would:

  • Work with our Head of Risk Special Projects, MIO’s Chief Risk Officer, and the rest of MIO’s Risk team on enhancing MIO’s risk frameworks, methodologies, capabilities, reporting, and systems/applications.
  • Build prototypes and help implement enhancements to our systems and reporting infrastructure to reflect framework refinements, portfolio changes, or additional reporting requirements.
  • Work with the Investment, Treasury, Finance, Legal, and Operations teams to develop, socialize and implement enhancements.
  • Expect to work on multiple projects simultaneously; these projects may include ad-hoc analyses, data visualization, and calculating pro-forma risk metrics.
  • Potential projects include but are not limited to
    • Draft ‘crisis playbooks’, working across functions (Investments, Treasury, Legal, Operations) to define triggers, identify critical decisions, and determine process and analytics to support these decisions.
    • Create documentation of enhanced liquidity and counterparty risk frameworks, systems, data, and report generation; update associated policies and procedures.
    • Develop framework and develop playbook to assess and mitigate tail risks related to investing in specific markets

Perform research and industry benchmarking to ensure MIO’s risk management capabilities follow best practices

Skills

  • Distinctive analytical and quantitative problem solver. Highly effective in defining, structuring, and solving a range of problems including less defined or ambiguous problems.
  • Has in-depth understanding of and comfort with probability and statistics.
  • Naturally curious, strives to deeply understand context and rationale underlying calculations and be able to dig into details and achieve number accuracy.
  • Clear oral and written communication; can distill and communicate the “so what”; able to communicate directly with a senior audience.
  • Proficiency in Excel and Powerpoint.
  • Experience in financial risk management (market, liquidity, counterparty) is a plus. However, we would consider distinctive candidates without this experience and support them in learning financial risk management.

Desired background

  • 2+ years of professional experience including time at a premier management consulting firm with focus on financial services or multi-manager platform of allocator, hedge fund, or leading investment bank.
  • Distinctive academic pedigree. Minimum Bachelor’s degree in Mathematics, Physics, Philosophy, Economics, Computer Science, or Engineering with a quantitative focus.
  • FRM or PRMIA designation is a plus.

Certain US states require MIO Partners, Inc. to include a reasonable estimate of the salary range for this role. Actual salaries may vary and may be above or below the range based on various factors, including, but not limited to an individual’s assigned office location, experience, and expertise. Certain roles are also eligible for bonuses, subject to MIO’s discretion and based on factors such as individual and/or organizational performance. Additionally, MIO offers a comprehensive benefits package, including medical, dental and vision coverage, telemedicine services, life, accident and disability insurance, parental leave and family planning benefits, caregiving resources, a generous retirement program, financial guidance, and paid time off.

Base salary range

$150,000 - $150,000 USD

MIO Partners, Inc. (MIO) is an equal opportunity employer. MIO will consider all applicants regardless of race, color, religion, sex, sexual orientation, gender identity, national origin, veteran status, or disability status.  

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