Sr. Investment Analyst II MSRP - Maryland State Retirement and Pension System

The Maryland State Retirement Agency is the administrator of the Maryland State Retirement and Pension System (“System”). The System is a defined benefit retirement system covering governmental employees within the State of Maryland. It’s composed of twelve (12) separate retirement and pension systems with over 50 different rule sets. The System has over 430,000 participants (customers), including 192,000 members who are actively employed and participating in the System, 165,000 payees who receive a monthly payment from the System, and 40,000 vested members who are no longer actively employed but have earned a benefit that will become payable at a future date.

Located in Baltimore’s Central Business District, SRPS offers a purpose-driven workplace with modern amenities, including panoramic city and harbor views, renovated common areas, upgraded elevators, and an on-site café.

Employees enjoy comprehensive state benefits including medical, dental, prescription coverage, generous paid leave, participation in the state pension system, and supplemental retirement savings options (401(k), 457(b), and more). Additional perks include an on-site fitness center with showers and lockers, 24/7 building security, and easy access to restaurants, shops, public transit, and major highways.

Main Purpose of Job The Senior Analyst/Data Scientist will help develop the data, analytical, and quantitative capabilities that support the Investment Division’s research and investment processes.

This position spans quantitative research, data and research infrastructure, machine learning, applied artificial intelligence, and systematic investment analysis. We recognize that candidates may bring different combinations of expertise. The successful candidate is expected to demonstrate substantial strength in one or more core areas, the ability to contribute across related functions, and the capacity to develop adjacent capabilities over time.

The main purpose of this job:

1. Develop and maintain scalable data analytics, machine learning, and artificial intelligence infrastructure to support scalable quantitative research and investment processes.
2. Establish and maintain automated data pipelines and robust data quality controls to ensure the accuracy, timeliness, and integrity of research and production environments.
3. Build and maintain comprehensive feature libraries across macroeconomic, cross-asset, equity, and risk domains to facilitate systematic research and portfolio management.
4. Conduct quantitative alpha research utilizing advanced statistical, machine learning, and modern AI techniques to generate and enhance predictive signals and investment insights.
5. Contribute to data and technology scouting efforts, partnering with external vendors, research institutions, and industry participants to evaluate emerging technologies and alternative data sources that may contribute to excess returns.
6. Support portfolio operations and execution processes, helping ensure efficient implementation and ongoing monitoring of investment strategies.
7. Actively participate in macroeconomic and market discussions, assessing their implications across asset classes and contributing to portfolio positioning, particularly during periods of market stress and extreme conditions.
8. Support internally managed portfolios, including monitoring exposures, risks, performance, and implementation considerations.
9. Collaborate closely with Legal, Operations, Information Systems, Risk, Compliance, and other stakeholders across the Agency to operationalize new capabilities and ensure the successful deployment of investment and technology initiatives.

POSITION DUTIESJob duties include but are not limited to:

Develop and maintain scalable data analytics, machine learning, and artificial intelligence infrastructure to support scalable quantitative research and investment processes.

1. Build and continuously enhance data, analytics, and ML/AI infrastructure to support quantitative research, signal generation, portfolio construction, and investment decision-making.
2. Implement scalable tools and workflows that improve research efficiency, reproducibility, and operational robustness across the investment process.
3. Partner with investment, technology, and operations teams to translate research requirements into production-ready capabilities and infrastructure.

Establish and maintain automated data pipelines and robust data quality controls to ensure the accuracy, timeliness, and integrity of research and production environments.

1. Design, develop, and maintain automated data ingestion and processing pipelines to ensure timely and reliable access to investment data.
2. Design, develop and maintain data quality control process to ensure the accuracy, timeliness and integrity of research and production environments.

Conduct quantitative alpha research utilizing advanced statistical, machine learning, and Modern AI techniques to generate and enhance predictive signals and investment insights.

1. Stay abreast of emerging developments in machine learning, artificial intelligence, and quantitative methodologies, and evaluate their applicability to investment research and portfolio management.
2. Develop and apply advanced statistical, machine learning, and AI techniques to macroeconomic, cross-asset, equity, and risk datasets to identify predictive relationships and generate alpha signals.
3. Research and model macroeconomic trends, market regimes, asset class returns, and risk dynamics to enhance forecasting and support investment decision-making.
4. Build and maintain systematic forecasting frameworks for economic conditions, market environments, and asset price movements across global markets.
5. Evaluate model performance and continuously refine methodologies to improve predictive accuracy, robustness, and risk-adjusted investment outcomes.
6. Translate research findings into actionable insights that support portfolio construction, risk management, and dynamic asset allocation decisions.

Contribute to data and technology scouting efforts, partnering with external vendors, research institutions, and industry participants to evaluate emerging technologies and alternative data sources that may contribute to excess returns.

1. Identify and evaluate emerging technologies, AI capabilities, and alternative data sources that have the potential to enhance investment research and generate excess returns.
2. Partner with external vendors, academic institutions, and industry participants to assess innovative datasets, analytical tools, and quantitative methodologies.
3. Participates proof-of-concept studies and pilot programs to validate the investment value, scalability, and operational feasibility of new technologies and data solutions.

Other duties as assigned.

MINIMUM QUALIFICATIONS

Education: Degree in quantitative discipline such as Mathematics, Statistics, Computer Science, Data Science, Physics, Engineering, Economics, or Finance.

Experience: Three years of relevant investments or finance experience.

Note: Applicants can substitute a minimum of four years of relevant investments or finance for the required education qualification.

DESIRED OR PREFERRED QUALIFICATIONS

We welcome candidates who have developed relevant investment expertise through different professional paths. Although experience across multi-asset is valuable, candidates are not expected to have worked in every asset class, in investment field or to satisfy every preferred qualification. We encourage applicants to apply who bring strong expertise in one or more core areas, demonstrate the ability to learn and contribute to adjacent disciplines, and can collaborate effectively across investment, technology, risk, legal, compliance, and operational teams.

PREFERRED QUALIFICATIONS

1) Demonstrated understanding of macroeconomics, equities, fixed income, foreign exchange, commodities, and financial instruments.

2) Experience applying modern AI methodologies to information gathering, processing, forecasting, alpha generation, portfolio construction, and investment decision-making.

3) Ability to integrate quantitative research, and financial market knowledge to develop innovative investment capabilities.

4) Ability to explain complex technical concepts clearly to colleagues with different professional and technical backgrounds.

SPECIAL REQUIREMENTS

A resume and cover letter are required to be uploaded with your application as well as an official transcript.

Due to the confidential nature of the work, selected candidates must undergo and pass a background and credit check.