Senior ETF Analyst – ETF Trading Solution

Requisition Number: 82617

Position Title:

External Description:

About the Team

ETF Trading Solutions manages primary market activity, monitors secondary market trading, and provides implementation support for T. Rowe Price’s ETFs. The team coordinates across a broad set of business partners to ensure that our ETFs operate efficiently and that our platform is structured appropriately to scale.

Role Summary

The ETF Analyst supports the pre-and-post-trade analyses of PM activity within the ETF to leverage the ETF vehicle’s capabilities to their fullest extent. This requires expertise in ETF mechanics (Create/Redeem activity, basketing, spreads, premium/discounts, INAVs), a thorough understanding of tax lots and tax lot harvesting, and a basic grasp of tax nuances related to securities (PFICs, tax straddles, 1256 contracts, etc.). Achieving efficient, scalable support for our ETFs requires good quantitative and data engineering skills and experience with programming (R and ideally another language, such as Python or C/C++), CI/CD (Docker and Gitlab), and statistics and linear optimization.

In addition to supporting ETF implementation, the role contributes to the continued expansion of tax-efficient trading solutions across mutual funds, including the development and implementation of Redemption In Kind (RIK) capabilities. The analyst partners with Portfolio Managers, Traders and Tax to identify opportunities to improve after-tax outcomes, reduce transaction costs and develop scalable implementation processes that can be leveraged across investment vehicles.

A significant component of successful ETF implementation, and thus of this role, is building and overseeing the data foundations required to support T. Rowe’s ETFs. The ETF Analyst provides a point of coordination as well as technical and analytical support across the investment organization, working with multiple stakeholder teams within both Technology and the Business (Portfolio Management, Trading, Investment & Trading Solutions, ETF Capital Markets, Operations, Compliance) to scope and prioritize projects supporting the delivery of the ETF data strategy. Focus is on driving scale, reducing implementation risk and expanding ETF capabilities while working cross functionally and leveraging T. Rowe’s collaborative culture.

Responsibilities

Data Analysis and Insight Communication:

• Efficiently analyze PM trade ideas for optimal implementation method leveraging the unique capabilities of ETFs.
• Synthesize security data (volatility, liquidity), transaction cost data, tax lot data, and feedback from Traders, ETF Capital Markets Specialists, Portfolio Investment Analysts, Portfolio Managers, and Trading Analytics Associates to refine implementation strategies.
• Use a combined knowledge of computer science and applications, modelling, statistics, analytics and math to solve problems.
• Clearly communicate insights to Investment Staff and additional stakeholders when requested.

Subject Matter Expertise:

• Opine on ETF data governance improvements and represent ETF Trading Solutions’ roadmap. Assist with project and workstream prioritization.
• Participate in industry events, bringing knowledge and information back to team.
• Maintain subject matter expertise by participating in relevant professional and industry bodies.

Communication and Spokesperson:

• Communicate strategic ETF data plan and roadmap to all stakeholders.
• Create clear, concise, high-quality communications and presentations for internal and external clients.
• Actively share knowledge and best practices across the platform.
• Demonstrating a respect for ideas and suggestions made by others.

Growth in Role: ETF Data Strategy and Governance:

• As the associate grows in the role, there is an opportunity to apply subject matter expertise and data mastery to more strategic oversight and ultimately ownership of ETF Data governance, a critical component of the ETF platform’s long-term success.
• Act as business domain owner for ETF data projects.
• Generate and champion ideas to improve, simplify and automate ETF data processes, workflows, best practices and service delivery.
• Partner closely on data initiatives and functions with Technology.
• Jointly drive the development of a data strategy and data model with Technology to support ETF platform growth and scalability.

Qualifications

Required:

• Bachelor's degree or the equivalent combination of education and relevant experience AND
• 5+ years of total relevant work experience
• Experience extracting, transforming, and manipulating data, with a strong understanding of APIs (REST, SOAP), relational databases, JSON, XML.
• Programming experience in R and another language (Python, C/C++).
• Ability to communicate ideas effectively and solve problems creatively.
• Comprehensive understanding of ETFs and tax lot optimization.

Preferred:

• Prior ETF and/or Accounting experience
• Degree in quantitative discipline with Math and Computer Science experience
• Outstanding candidates without prior ETF or accounting experience, or with a non-technical/Finance degree, may be considered.

FINRA Requirements

FINRA licenses are not required and will not be supported for this role.

Work Flexibility

This role is eligible for hybrid work, with up to one day per week from home.

Base Salary Ranges

Please review the job posting for the location of this specific opportunity.

$91,500.00-$156,500.00 for the location of: Maryland, Colorado, Washington and remote workers
$91,500.00-$156,500.00 for the location of: Washington, D.C.
$91,500.00-$156,500.00 for the location of: New York, California

Placement within the range provided above is based on the individual’s relevant experience and skills for the role.  Base salary is only one component of our total compensation package.  Employees may be eligible for a discretionary bonus, which is determined upon company and individual performance.

Commitment to Diversity, Equity, and Inclusion

At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all. 

Benefits

T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.

City:

State:

Community / Marketing Title: Senior ETF Analyst – ETF Trading Solution

Company Profile:

Location_formattedLocationLong: Baltimore, Maryland US

CountryEEOText_Description: Commitment to Diversity, Equity, and Inclusion: We strive for equity, equality, and opportunity for all associates. When we embrace the power of diversity and create an environment where people can bring their authentic and best selves to work, our firm is stronger, and we create greater value for our clients. Our commitment and inclusive programming aim to lift the experience for each associate and builds allies for our global associate community. We know that a sense of belonging is key not only to your success at the firm, but also to your ability to bring your best each day. Benefits: We invest in our people through a wide range of programs and benefits, including: • Competitive pay and bonuses as well as a generous retirement plan and employee stock purchase plan with matching contributions • Flexible and remote work opportunities • Health care benefits (medical, dental, vision) • Tuition assistance • Wellness programs (fitness reimbursement, Employee Assistance Program) Our policies may change as our working lives evolve. Yet, our commitment to supporting our associates’ well-being and addressing the needs of our clients, business, and communities is unwavering. T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.