Capital Markets Researcher

We are seeking a Capital Markets Researcher focusing on developing and improving proprietary econometric forecasting models of financial and macroeconomic variables as part of the Vanguard Capital Markets Model. This model powers our investment outlook and asset allocation decisions.

Team & Opportunity

The Investment Strategy Group (ISG) is a global team that serves as Vanguard's in-house research team, with subject matter experts based in North America, Europe, and the Asia-Pacific region. The team produces industry-leading research to help shape perspectives, plays a central role in developing Vanguard's investment and advice methodology, and informs decisions about our investment offerings and strategies. As the Capital Markets research team within ISG, we are responsible for designing models for asset return forecasts and performing quantitative market strategy research.

We are seeking a Capital Markets Researcher focusing on developing and improving proprietary econometric forecasting models of financial and macroeconomic variables as part of the Vanguard Capital Markets Model. This model powers our investment outlook and asset allocation decisions. In this role, you'll work with colleagues in London and globally on projects using time series econometrics to expand and improve our models. Your work will also involve producing insights to communicate our investment outlook and capital market assumptions.

Vanguard has incredible people and an inspiring mission: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success. If you are interested in analysing global markets and developing investment insights, and have a passion for data, macroeconomic and financial research, and working in teams, this is a great opportunity for you. Vanguard is fully committed to having a diverse and inclusive working environment. This role will be based in London, UK.

In this role, you will:

• Conduct quantitative asset pricing research and develop time series models. The focus is on understanding the fundamental macroeconomic and financial drivers of equity, fixed income and alternative asset class returns.
• Analyse and explain current market events, distilling data into compelling visualizations and "killer charts" to tell differentiated stories. Explain detailed research in simple words and through different channels including slide decks, articles or research memos.
• Support the team to meet requests from internal stakeholders and clients.
• Participate in group discussions on investment issues and research projects. Develop recommendations for new research or methodology improvements.
• Keep up to date with the relevant academic and practitioner literature.

What it takes

Please do not be put off from applying if you do not meet all the criteria in the below.

• Either a postgraduate degree in economics, finance or related subject, and a minimum of two years work experience in the finance industry or research-related role;
• or a PhD in economics, finance or related subject.
• Interest in the intersection of macroeconomics and finance. Be able to articulate how macroeconomic developments and market conditions influence different asset classes.
• Fluent in statistical software such as Python, Matlab or R.

• Be proficient at analysing large datasets, identifying trends, and assessing the significance of changes.
• Be able to work on your own, in teams, and across boundaries.
• Exceptionally strong writing skills and the ability to explain complex concepts to non-technical audiences.
• Be capable of producing high-quality analysis to tight deadlines. Excellent time management and organisational skills.

Background

• ISG's Capital Markets research team designs models for asset return forecasts and performs quantitative market strategy research. This is used to shape Vanguard's asset return outlook, drives asset allocation models, and is used for portfolio analytics on risk and return.

Special Factors

• Vanguard is not offering visa sponsorship for this position.
• Hybrid work model.

About Vanguard

Vanguard is an investment company unlike any other. It was founded by Jack Bogle in the US in 1975 on a simple but ground-breaking idea: that an investment company should handle its funds solely in the interests of its clients. Jack helped bring investing to the masses with the index fund. Index funds do not pick individual shares or bonds to beat the market. They supervise the performance of the entire market. Or as Jack put it, "Don't look for the needle in the haystack. Just buy the haystack!". We have stood for low-cost, uncomplicated investing ever since. Over the last 45 years people have come round to our way of thinking and more than 30 million investors worldwide now trust us with their money.

How We Work

Vanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.