Risk Manager, Fundamental Equities

Risk Manager, Fundamental Equities

About Millennium

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

Millennium’s Global Risk Management Department identifies, measures, monitors, manages, and reports on risks associated with the firm’s portfolios at both the firm-wide and Portfolio Manager levels. The Equity Risk Management team partners closely with fundamental equity trading groups to provide disciplined risk oversight across portfolios, performance, and trading activity.

What You'll Do

• Own risk coverage for a group of fundamental equity trading teams, developing a detailed understanding of their portfolios, risk exposures, performance, and investment processes.
• Monitor where risk is building across assigned trading groups, distinguish material developments from noise, and clearly communicate their implications.
• Develop a working understanding of each Portfolio Manager’s investment process, including where their edge is demonstrated and where risk exposures may be incongruous.
• Act as a business partner to investment professionals, helping build strong economic intuition around the risks within their portfolios.
• Evaluate and prioritize risks across the coverage book, focusing the team’s attention on the developments that require action.
• Translate findings into focused conversations with Portfolio Managers and follow through on resulting actions or changes.
• Independently scope and conduct research when existing tools do not answer a risk question, sharing findings with the broader team.
• Identify risks that may not be fully captured by current measures and use engagement with risk takers to help shape the risk and portfolio research agenda.

What You Bring

• 7–10 years of experience in equity risk management, portfolio research, quantitative research, or a fundamental investment role.
• Experience in a multi-manager platform is helpful but not required.
• Fluency with characteristics-based factor models.
• Proficiency in R or Python and SQL, with the ability to perform end-to-end analysis independently.
• Strong statistical judgment and quantitative, analytical, and problem-solving skills.
• Ability to develop clear, actionable perspectives and recommendations from complex risk and portfolio data.
• Clear and concise written and verbal communication skills, including the ability to communicate effectively within length constraints.
• Degree in a technical or quantitative field; an advanced degree in Financial Engineering or a similar discipline is preferred.

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 $160,000 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.