Morningstar – Quantitative Analyst, New Product Development

Job Description

Morningstar is hiring a Quantitative Analyst – New Product Development to join its Morningstar Indexes team in Navi Mumbai. This role is suited to an early-career professional with a strong quantitative or financial background who is interested in investment research, index construction, portfolio analytics, and the development of rules-based investment solutions. Morningstar Indexes combines expertise across equity research, quantitative research, manager research, asset allocation, and portfolio construction to develop indexes that help investors monitor markets, benchmark portfolios, and make informed allocation decisions. As part of the New Product Development team, the selected candidate will participate in the complete lifecycle of new index products, starting with identifying ideas and designing methodologies and continuing through development, validation, stakeholder presentations, and implementation.

The Quantitative Analyst will work closely with Morningstar's global research organization and product management teams to transform investment concepts into practical and scalable index methodologies. The role involves contributing to thematic indexes, strategic beta or factor indexes, ESG-oriented strategies, and other quantitative investment products. You will also develop analytical tools and capabilities for portfolio construction, investment analysis, and quantitative research, potentially applying statistical and machine learning techniques where appropriate. Collaboration with other index teams will be important when converting new methodologies into operational index products. In addition to quantitative analysis and product development, the role requires strong documentation and communication skills, as the analyst will contribute to white papers, factsheets, client presentations, and other materials used to explain investment strategies and support product launches.

This opportunity offers a strong platform for professionals who want to build a career at the intersection of quantitative finance, investment research, portfolio construction, financial data, and index product development. Candidates will gain exposure to the process of developing investment solutions for a global market while working with research specialists and product professionals across different areas of Morningstar. A solid understanding of institutional investing and modern portfolio theory, combined with programming knowledge in Python, R, or MATLAB and SQL, can help candidates succeed in the role. Morningstar's hybrid working environment also provides opportunities to collaborate regularly with colleagues while benefiting from flexibility and a globally connected workplace.

Roles & Responsibilities

• Collaborate with Morningstar's equity, quantitative, manager, sustainability research, and product management teams to identify opportunities for innovative index development.
• Contribute to the creation of thematic and smart beta indexes that leverage Morningstar's proprietary research, analytical capabilities, and investment intellectual property.
• Participate throughout the complete index product development lifecycle, including ideation, methodology design, quantitative development, validation, documentation, and implementation.
• Conduct quantitative research and investment analysis to evaluate potential index concepts, methodologies, portfolio characteristics, and expected outcomes.
• Develop analytical tools and capabilities that support portfolio construction, quantitative research, investment analytics, and index methodology development.
• Apply statistical methods and, where appropriate, machine learning techniques to analyze financial data and improve quantitative investment research processes.
• Work with other index development and operations teams to help convert newly designed methodologies into reliable and scalable index products.
• Validate quantitative methodologies, analytical outputs, portfolio construction approaches, and index calculations before product implementation.
• Prepare and contribute to white papers, factsheets, client presentations, research documents, and other product collateral supporting index launches and go-to-market activities.
• Present complex investment and quantitative concepts to internal research teams, product stakeholders, and clients in a clear and structured manner.
• Maintain comprehensive documentation covering research assumptions, methodologies, analytical processes, development decisions, and validation outcomes.
• Stay informed about developments in quantitative investing, factor investing, ESG investing, portfolio construction, financial markets, and index product innovation.

Requirements & Eligibility

• Bachelor's degree in a quantitative, financial, mathematical, statistical, economics, or engineering discipline.
• Up to 2 years of relevant professional experience in quantitative finance, investment research, financial analytics, index development, portfolio analytics, or a related field.
• Strong understanding of investment concepts and financial markets, particularly institutional investing and quantitative investment strategies.
• Knowledge of Modern Portfolio Theory (MPT) and fundamental portfolio construction principles.
• Understanding of rules-based investment strategies, index methodologies, factor investing, or quantitative portfolio approaches.
• Hands-on exposure to Strategic Beta, factor indexes, ESG indexes, or similar quantitative investment strategies is preferred.
• Programming proficiency in at least one quantitative programming language such as Python, R, or MATLAB is desirable.
• Working knowledge of SQL for handling, querying, and analyzing structured financial or investment data.
• Strong quantitative, analytical, and problem-solving capabilities with the ability to interpret complex datasets and investment concepts.
• Excellent written and verbal communication skills, including the ability to explain complex quantitative concepts in simple and understandable language.
• Strong presentation capabilities for communicating research findings, methodologies, and product concepts to internal and external stakeholders.
• Excellent documentation habits and attention to detail, particularly when recording quantitative methodologies, assumptions, calculations, and research findings.

Preferred Skills – Good to Have

• MBA from a premier institute.
• CFA charter or CFA candidature, preferably with at least Level II passed.
• Practical experience developing Strategic Beta / Factor Indexes.
• Exposure to ESG Indexes or sustainability-focused quantitative investment strategies.
• Experience with portfolio construction, factor models, quantitative research, or systematic investment strategies.
• Knowledge of statistical analysis and machine learning techniques applied to financial datasets.
• Experience using Python for quantitative research, financial modeling, data analysis, or portfolio analytics.
• Familiarity with R or MATLAB for statistical and quantitative analysis.
• Understanding of index calculation methodologies and financial benchmark construction.
• Exposure to institutional investment products and asset allocation processes.

Key Competencies

• Quantitative Analysis
• Investment Research
• Index Development
• Portfolio Construction
• Factor Investing
• Strategic Beta
• ESG Investing
• Modern Portfolio Theory
• Financial Modeling
• Python / R / MATLAB
• SQL & Data Analysis
• Statistical Analysis
• Machine Learning
• Research Documentation
• Presentation Skills
• Analytical Problem Solving

What We Are Looking For

Morningstar is looking for a quantitatively strong professional who can combine financial knowledge with analytical thinking and practical problem-solving. The ideal candidate should be comfortable understanding investment concepts, analyzing data, evaluating rules-based strategies, and thinking critically about how an investment idea can be translated into a measurable and implementable index methodology. A background in quantitative finance, financial engineering, economics, mathematics, statistics, or engineering can provide a strong foundation for the position. Candidates with exposure to factor investing, Strategic Beta, ESG strategies, portfolio construction, or index research will have an added advantage.

Beyond technical ability, the role requires someone who can communicate quantitative ideas clearly to different audiences. The successful candidate should be capable of converting complex research findings into concise explanations, well-structured documentation, presentations, and client-facing materials. Strong attention to detail is important because index development involves careful methodology design, validation, testing, and operational implementation. Candidates who are curious about financial markets, comfortable working with programming and data, and interested in developing innovative investment products can build valuable expertise through this opportunity.

Role Focus

Primary Focus: Quantitative Index Product Development

Secondary Focus: Investment Research, Portfolio Construction, Factor & ESG Strategies

Experience

Up to 2 years

This position is primarily suited to early-career quantitative finance, financial analytics, investment research, engineering, or related professionals.

Expected Salary

For a Quantitative Analyst with up to 2 years of experience in Mumbai/Navi Mumbai and skills spanning investment research, quantitative analysis, Python/R/MATLAB, SQL, and portfolio analytics, a reasonable market estimate is approximately ₹6 lakh to ₹12 lakh per annum. Candidates with CFA progress, strong quantitative programming skills, relevant index-development experience, or a highly competitive academic background may command compensation toward the upper end of the range. Actual compensation at Morningstar may vary based on qualifications, experience, internal salary structures, and applicable benefits.

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