Senior Quant Researcher - AI Core
Millennium is a global, diversified alternative investment firm, founded in 1989. Defined by evolution, innovation and focus, Millennium’s mission is to deliver results for our investors.
Our people are empowered with both independence and support: the autonomy to pursue ideas with conviction and the backing of a global network committed to collaboration, disciplined risk management and continuous learning. With opportunities to deepen expertise and accelerate development, talent at Millennium is equipped to adapt, evolve and build lasting impact over time. Discover how transformative growth accelerates impact.
Meet the Team
Core to the health and growth of our business, Millennium’s Information Technology organization powers the firm’s active, multi-manager model through flexible, scalable technology and advanced proprietary systems. Within this organization, the Central AI team focuses on modern AI/ML and data infrastructure that supports firm-level analytical capabilities and helps accelerate the next generation of decision-making tools across the platform.
What You'll Do
- Design and build performance decomposition engines, including multi-factor residualization, exposure stability analysis, and regime-conditional analytics
- Develop similarity and uniqueness analytics, including strategy fingerprinting and factor and holdings overlap scoring
- Build marginal risk contribution analytics across VaR, expected shortfall, stress contribution, and crowding analysis
- Create portability and translation frameworks to support realistic analysis across platforms, constraints, and infrastructure environments
- Develop simulation, counterfactual, and strategy-specific analytical tooling across multiple investment styles
- Build skill and process decomposition models, along with evidence-tier weighting and confidence propagation across outputs
- Design capacity and scalability analytics covering liquidity, turnover, decay, and market impact
- Partner closely with investment and risk leadership to ensure methodologies are rigorous, durable, and credible under senior review
What You Bring
- Master’s degree with 7+ years of experience or PhD with 5+ years of experience in a quantitative field such as Statistics, Mathematics, Physics, Financial Engineering, Computer Science, Economics, or a related discipline
- Deep expertise in factor models, risk decomposition, performance attribution, portfolio overlap, stress testing, and scenario analysis, with a track record of building these frameworks directly
- Strong understanding of portfolio construction, risk analytics including VaR and expected shortfall, and portfolio optimization
- Advanced Python skills and experience working with large, complex financial datasets, including time series and panel data
- Strong statistical judgment, including experience with small-sample problems, selection bias, Bayesian methods, and uncertainty quantification
- Clear, effective communication skills, with the ability to translate quantitative findings for senior portfolio managers and non-technical stakeholders
- High intellectual honesty and sound judgment, including the confidence to challenge conclusions not supported by the data
- Experience in a multi-manager platform, hedge fund, fund-of-funds, prime broker, or risk analytics environment, with exposure to investment due diligence, strategy allocation, capacity modeling, or multi-strategy platform dynamics
Salary Range
Millennium offers a total compensation package which includes a base salary, discretionary performance bonus, and comprehensive benefits. The estimated base salary range for this position is $175,000 to $250,000, which is specific to New York and may change in the future. When finalizing an offer, we take into consideration an individual’s experience level and the qualifications they bring to the role to formulate a competitive total compensation package.