Data Scientist

The Group:

Morningstar’s Quantitative Research Group is a leading independent provider of investment research and data-driven analytics aimed at empowering investors and Morningstar with better decision-making capabilities. We leverage advanced statistical techniques and extensive data sets to develop innovative methodologies. Our research spans diverse asset classes, including equities, fixed income, structured credit, and funds. Morningstar is globally renowned for its comprehensive fund, equity, and credit data and research, and we are committed to prioritizing investors’ interests at the core of our operations.

The Role:

Are you passionate about leveraging large language models to enhance investment management practices? Join our team as a Data Scientist, where you will play a prominent role in our quantitative research endeavors. In this exciting position, you'll analyze massive data sets and distill complex information into concise and valuable offerings for investors. Your responsibilities will involve the development of machine learning applications, exploring language models, and other data products. Additionally, you will create original investment research content that drives better outcomes for our clients. If you possess exceptional interpersonal, communication, and machine learning skills, coupled with a strong quantitative mindset, this is the ideal role for you.

Join us in our Chicago office and be part of revolutionizing investment research in the financial industry. To foster continuous collaboration, we follow a hybrid policy which entails of a minimum of 3 days onsite.

Job Responsibilities:

• Conduct cutting-edge research to develop innovative AI-driven solutions that enhance client outcomes.
• Leverage advanced large language models, including multimodal models and vector embeddings, to continuously improve our AI research assistant.
• Publish research papers, whitepapers, and notebooks focused on optimizing investment workflows for users.
• Identify opportunities to apply AI methodologies to enhance models and products across Morningstar’s diverse datasets and intellectual property spanning multiple asset classes.
• Act as a subject-matter expert, driving the adoption and implementation of AI solutions across Morningstar’s business units.

Requirements:

• Minimum 3 years of hands-on experience implementing AI/machine learning solutions, including RAG, NLP, AI Agents, and transformer models, in commercial applications.
• Advanced degree (Master’s/PhD preferred) in a quantitative, AI or computational field such as Data Analytics, Computer Science, Machine Learning/AI, Mathematics, Physics, or Statistics.
• Expertise in fine-tuning large language models, vector databases, LangChain, LangGraph, Autogen, and prompt engineering.
• Proficiency in Python and SQL, with the ability to write production-quality code deployable on cloud platforms.
• Demonstrated experience in deploying machine learning and deep learning algorithms into production environments.
• Strong communication skills to effectively convey complex technical concepts to non-technical stakeholders.
• Familiarity with Investment Management, particularly Morningstar’s mutual fund, fixed income, and equity databases.
• Excellent organizational and multitasking skills to manage multiple projects in a fast-paced environment.
• Passion for building AI-driven products and excelling in the Investment Management domain.

Compensation and Benefits

At Morningstar we believe people are at their best when they are at their healthiest. That’s why we champion your wellness through a wide-range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:

• Financial Health
• 75% 401k match up to 7%
• Stock Ownership Potential
• Company provided life insurance - 1x salary + commission

• Physical Health
• Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages
• Additional medical Wellness Incentives - up to $300-$600 annual
• Company-provided long- and short-term disability insurance

• Emotional Health
• Trust-Based Time Off
• 6-week Paid Sabbatical Program
• 6-Week Paid Family Caregiving Leave
• Competitive 8-24 Week Paid Parental Bonding Leave
• Adoption Assistance
• Leadership Coaching & Formal Mentorship Opportunities
• Annual Education Stipend
• Tuition Reimbursement

• Social Health
• Charitable Matching Gifts program
• Dollars for Doers volunteer program
• Paid volunteering days
• 15+ Employee Resource & Affinity Groups

Total Cash Compensation Range

$87,000.00 - 147,900.00 USD Annual

Inclusive of annual base salary and target incentive

Morningstar’s hybrid work environment gives you the opportunity to work remotely and collaborate in-person each week. While some positions are available as fully remote, we’ve found that we’re at our best when we’re purposely together on a regular basis, typically three days each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you’ll have tools and resources to engage meaningfully with your global colleagues.

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