Analyst, Portfolio Construction & Implementation

Analyst, Portfolio Construction & Implementation Strategy

Firm Mission: "Achieving Client Success through Research and Technology"

Los Angeles Capital, the "Firm", is a global equity manager of assets for leading institutions around the world. The Firm is recognized as a pioneer in dynamic equity management, utilizing proprietary technology to engineer equity portfolios that adapt to today's equity market. The Firm's senior investment professionals have worked together for three decades developing models for measuring and forecasting return and risk of global equity securities. The Firm manages approximately $40.1 billion as of December 31, 2025, across a wide variety of public equity strategies designed to meet institutional client return and risk objectives. The Firm has been ranked for seven years in a row by Pensions and Investments as one of the "Best Places to Work in Money Management." The Firm's working environment places a strong focus on teamwork and values work-life balance. The Firm offers a competitive compensation package that includes health care plans, 401(k), and top-tier benefits. The Firm is 100% employee-owned through a holding company structure and seeks to retain and motivate employees' long term. Los Angeles Capital firmly believes the quality and commitment of the individuals are vital to the success of the Firm, ensuring that client expectations are exceeded.

Position Overview

Reporting to the Director of Portfolio Construction and Implementation Strategy, the Analyst is a member of the implementation strategy team and supports the firm's efforts to translate research views into client portfolios with maximum fidelity. The role is hands-on, data-driven, and quantitative: the Analyst will run analyses, build tooling, and execute studies that inform decisions about portfolio construction, optimization, rebalancing, and execution across the firm's product suite. The successful candidate will meaningfully contribute to the goal of efficiently exposing clients to value-add features defined by the Research department while controlling risk, cost, operational complexity, and account-specific considerations.

The Analyst will collaborate cross-functionally with Portfolio Management / Implementation, Research, Trading, and the Quantitative Investment Platform (QIP) team, contributing to firm-wide initiatives that improve risk-adjusted returns net of all costs. The role is a high-impact seat with direct exposure to senior investment leadership and offers the opportunity to develop deep expertise in portfolio construction, optimization, and implementation at a systematic investment manager.

Key Job Responsibilities

• Portfolio Construction Analysis: Execute studies of signal capture, turnover sensitivity, transaction costs, constraint impact, factor decomposition, rebalance frequency, and parameter selection; synthesize results into decision-ready summaries for senior stakeholders.
• Portfolio Construction Improvement: Evaluate and incorporate state-of-the-art portfolio construction techniques into the firm's investment process.
• Optimizer and construction tooling: Build and extend tooling around the firm's optimization engine and related infrastructure, including parameter sweeps, frontier studies, scenario simulations, and pre-trade 'what-if' analyses.
• Implementation monitoring: Maintain monitoring of signal exposure, transfer coefficients, constraint shadow costs, turnover, tracking error, and realized vs. expected costs.
• Execution and rebalance analytics: Support evaluation of portfolio construction and execution strategies, transaction cost models, and rebalance timing/frequency in partnership with Trading and Implementation.
• Data, technology, and new products: Build reproducible data pipelines and analytics within the firm's codebase; partner with QIP and Engineering on construction and implementation tooling; contribute analytical work to the firm's expansion into alternatives and new product types.
• Documentation and collaboration: Document methodologies, tools, and processes to institutional standards; represent the implementation strategy team in cross-functional working groups.

Skills and Knowledge Required

• Bachelor's degree from a strong program in a quantitative field (Finance, Economics, Mathematics, Statistics, Computer Science, Engineering, or related field). Demonstrated coursework in econometrics, and mathematical / quantitative finance, is preferred.
• 14 years of relevant experience in quantitative investment management, portfolio analytics, risk, trading analytics, or a closely related role; strong recent graduates with graduate education and directly relevant internship experience may also be considered
• Strong programming ability in Python required (pandas, NumPy, scientific libraries); comfort with SQL, version control (Git), and structured codebase work
• Experience with a commercial portfolio optimizer (Axioma, Barra/MSCI, Northfield, or comparable) or LP problems preferred; willingness to develop deep expertise in optimization is essential. Familiarity with Bloomberg and/or FactSet/CIQ
• Quantitative mindset with strong applied statistics and analytical skills; comfort with econometrics enabling study design and interpretation and result evaluation
• Clear written and verbal communication; curious, rigorous, and detail-oriented; self-motivated and collaborative across functions
• Hands-on experience leveraging agentic AI tools and large language models in a research, analytical, or software development context
• Progress toward CFA, CAIA, FRM, or a graduate degree in a quantitative discipline

Skills and Knowledge Desired

• Working understanding of modern portfolio theory, factor and risk models, optimization, and the systematic investment process; familiarity with equity market microstructure and transaction cost concepts is a plus

This is a hybrid position based in Los Angeles, CA which requires weekly attendance.

NO RECRUITERS, PLEASE.

Los Angeles Capital is an SEC registered investment adviser and required to track certain political contributions under rule 206(4)-5. Therefore, you will be required to disclose your prior political contributions.

Los Angeles Capital is an Affirmative Action/Equal Opportunity Employer committed to providing employment opportunity without regard to an individual's race, color, religion, age, gender, gender identity, sexual orientation, national origin, ancestry, marital status, medical condition, genetic information, veteran status or disability.