Multi-Asset Strategies Researcher (Senior Analyst or Associate)
- Workplace
- On-site
- Employment
- Full-time
About this role
Multi-Asset Strategies Researcher (Senior Analyst or Associate)
Requisition ID: req1474
Employment Type: Unclassified Regular Full-Time (URF)
Division: RPM Multi Asset Strategies
Compensation: Depends on Qualification
Job Closing: 11/30/2026 at 11:59 CST
Location: TRS Headquarters Building 2
1900 Aldrich Street
Austin, Texas, 78723
United States
WHO WE ARE:
With the Investment Management Division (IMD) you will be joining a diverse group of achievers who celebrate the unique value individuals bring to support our shared cause: earning trust and contributing to the financial future of 2 million public education employees and retirees throughout Texas.
Navigating the current market environment takes innovation and we’re passionate about stewarding the right investments to make an impact both in the lives of our members and all Texans. We invite you to partner with the best financial minds in the business to manage a global portfolio of over $200 billion in public and private investments. Our success starts with you.
The Multi-Asset Strategies
(MAS) Research Associate/Senior Analyst is responsible for conducting
quantitative research across the team's systematic Alternative Risk Premia and
Risk Parity portfolios, which span equities, rates, commodities, and FX. The role
develops new alpha signals, improves portfolio construction and risk
management, and turns research into repeatable, scalable investment strategies
for TRS.
The incumbent will design and execute research from hypothesis through robustness testing and sizing recommendation; prepare research documentation and presentations; and help turn research into production-quality code alongside the team's quantitative developers. The incumbent will also take ownership of monitoring and reporting for the strategies they develop and contribute to the enhancement of MAS research methodologies and analytical frameworks. The position works closely with senior researchers, portfolio managers, quantitative developers, and IMD staff, and reports to Head of Multi-Asset Strategies.
The incumbent will design and execute research from hypothesis through robustness testing and sizing recommendation; prepare research documentation and presentations; and help turn research into production-quality code alongside the team's quantitative developers. The incumbent will also take ownership of monitoring and reporting for the strategies they develop and contribute to the enhancement of MAS research methodologies and analytical frameworks. The position works closely with senior researchers, portfolio managers, quantitative developers, and IMD staff, and reports to Head of Multi-Asset Strategies.
WHAT WILL YOU DO:
Research
• Conducts quantitative research to develop and enhance alpha signals, portfolio construction, and risk management across the Alternative Risk Premia and Risk Parity portfolios.
• Assists in the design and execution /Designs and executes the full research lifecycle from hypothesis through robustness testing and sizing recommendation.
• Evaluates external and academic research for internal application and generate novel ideas that broaden the strategy and signal set.
• Produces high-quality research documentation explaining theory and empirical results.
• Presents and defends findings to portfolio management, the MAS Investment Committee, and senior management.
• Integrates large language models (LLMs) into the quantitative investment research process.
Implementation
• Assits/Builds Python-based tools and workflows to access, clean, and analyze data at scale.
• Partners with portfolio managers and quant developers to deliver end-to-end research and production improvements.
• Contributes to the shared multi-asset data system, backtesting framework, and portfolio construction tools.
• Applies modern engineering standards including version control, unit testing, code review, and documentation.
Portfolio Management
• Support daily and periodic model runs, rebalances, and data quality checks.
• Build and maintain risk, exposure, and performance monitoring for assigned strategies.
• Investigate and resolve data and model exceptions.
• Provide backup coverage for critical production processes.
Performs related work as assigned.
WHAT WILL YOU BRING:
Required Education
• Bachelor’s degree from an accredited college or university in a related field.
• High school diploma or equivalent and additional full-time experience in quantitative research or related experience may be substituted on an equivalent year-for-year basis.
Required Experience
• One (1) -Two (2) years of full-time experience in quantitative research or related experience.
• A master's degree or doctoral degree in a closely related field may be substituted on an equivalent year-for-year basis.
Required Registration, Certification, or Licensure
• None.
Preferred Qualifications
• Master's degree or doctorate/PhD in mathematics/statistics, computer science, physics, engineering, financial engineering, economics, or a related area.
• Intermediate experience with Python.
• Experience with SQL and with version control software, including Git.
• Experience with data science-oriented Python libraries (pandas, SciPy, NumPy, scikit-learn).
• Experience taking research code into a production investment process.
• Knowledge of, or strong interest in, futures, FX, and derivatives markets.
• Demonstrated original research output, such as a thesis, publication, or a signal taken into production.
Knowledge, Skills, and Abilities
Knowledge of:
• Probability, statistics, econometrics, and foundational mathematics (linear algebra, calculus).
• Research design and the practical pitfalls of empirical finance research, including overfitting and multiple testing.
• Portfolio construction, risk modelling, and performance attribution concepts.
• Investment concepts, terminology, strategies, and fundamental factors; familiarity with futures, FX, and derivatives markets.
• Software engineering principles as applied to quantitative research code.
Skills in:
• Advanced use of Python and the data science stack (pandas, NumPy, SciPy, scikit-learn).
• SQL query writing and schema design; manipulating and validating large datasets.
• Maintaining software in a version control system (Git), including testing and code review.
Ability to:
• Work collaboratively in an applied quantitative investment research environment.
• Exercise independent judgment on research design and on the interpretation of empirical results.
• Take ownership of an assigned strategy or asset-class area and develop subject-matter expertise.
• Solve technical problems independently and proactively.
• Establish and maintain effective working relationships with colleagues, agency staff, and external contacts.
Military Occupational Specialty (MOS) Codes:
Veterans, Reservists or Guardsmen with experience in the Military Occupational Specialty ( https://www.trs.texas.gov/files/trs-military-crosswalk.xlsx ) along with the minimum qualifications listed above may meet the minimum requirements and are highly encouraged to apply. Please contact Talent Acquisition at [email protected] with questions or for additional information.
To view all job vacancies, visit www.trs.texas.gov/careers or www.trs.csod.com/careersite.
For more information, visit www.trs.texas.gov.
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