Investment Operations Analyst

Morningstar’s Investment Management business is seeking an Analyst, Investment Operations to support the operational and administrative requirements of our Investment Product suite. This role is integral to ensuring the smooth execution of portfolio operations, compliance monitoring, client service, and third-party oversight.

The Analyst will also play a key role in business process improvements, change management, and project participation to drive efficiencies across investment operations.

The successful candidate will collaborate closely with portfolio managers, external service providers, and internal teams to ensure timely and accurate execution of investment instructions and adherence to compliance requirements. They will also contribute to strategic projects aimed at enhancing operational infrastructure, automation, and risk controls.

This role is based in Sydney and reports to the Senior Manager, Investment Operations.

Job Responsibilities

Portfolio Implementation & Trade Execution

• Process and validate investment instructions for Managed Funds, Managed Accounts and institutional clients across multiple asset classes and securities.

• Oversee the timely and accurate execution of portfolio rebalancing, cash movements, and transitions in collaboration with internal stakeholders and external service providers.

• Maintain accuracy in portfolio trade bookings, ensuring alignment with investment mandates and regulatory requirements.

Portfolio Compliance & Risk Management

• Monitor pre-trade and post-trade compliance to ensure adherence to portfolio investment parameters and regulatory guidelines.

• Investigate and report any breaches or exceptions, working with internal teams to implement corrective actions.

• Conduct regular reconciliations of portfolio positions, ensuring data integrity and risk mitigation.

Client Service & Onboarding

• Support client onboarding and transitions, ensuring accurate setup of investment mandates and operational processes.

• Act as a key point of contact for client inquiries, providing timely and accurate responses on operational matters.

• Work closely with relationship managers to enhance client experience and service delivery.

Third-Party Oversight & Vendor Management

• Liaise with custodians, registry service providers, and administrators to ensure seamless operational processes.

• Monitor service-level agreements (SLAs) and address performance issues or inefficiencies.

• Ensure timely and accurate flow of trade, valuation, and accounting data between service providers.

Operational Process Improvements & Change Management

• Identify and implement process enhancements to improve efficiency, accuracy, and risk control in investment operations.

• Collaborate with global offshore teams to align operational workflows and adopt best practices.

• Support automation initiatives, including the integration of robotic process automation (RPA) and technology-driven solutions to enhance operational efficiencies.

• Participate in system enhancements and platform migrations, ensuring smooth implementation of new technologies.

Project Participation & Strategic Initiatives

• Actively contribute to cross-functional projects.

• Assist in the development of new investment products by providing operational insights and ensuring scalable processes.

• Engage in regulatory change projects, helping to adapt investment operations to evolving compliance standards.

Financial & Data Management

• Compile and analyse management information, including Funds Under Management (FUM) and Assets Under Administration (FUA).

• Calculate and validate management fees, expense allocations, and cost recovery reports.

Qualifications & Skills

• Bachelor’s degree in Finance, Accounting, Economics, Business, or a related field. · Professional certifications such as CFA (Chartered Financial Analyst) Level 1, CPA (Certified Public Accountant), or CAIA (Chartered Alternative Investment Analyst) are a plus.

• Experience · 1–2 years of experience in investment operations, fund administration, trade support, or middle-office roles.

• Exposure to asset management, custodian services, superannuation funds, investment platforms, or hedge funds.

• Experience with managed accounts model portfolios, and separately managed accounts (SMAs) is advantageous.

• Knowledge of financial instruments including equities, fixed income, derivatives, FX, and alternatives.

• Understanding of portfolio valuation, NAV calculations, and performance reporting.

• Experience with fund accounting principles, corporate actions processing, and trade lifecycle management.

• Proficiency in investment platforms such as Charles River, Bloomberg, FactSet, SimCorp Dimension, Aladdin, or HiPortfolio.

• Experience with custodian and fund administrator portals for reconciliations and reporting.

• Exposure to data visualisation tools (Power BI, Tableau) is a plus.

Why Join Us?

• Hybrid work model (3 days in-office, 2 days remote).

• Work with leading investment management and operational teams.

• Opportunity to drive automation and efficiency improvements in a dynamic environment.

• Contribute to strategic projects that enhance investment operations and client service delivery.

Morningstar embraces diversity and is committed to equal opportunity employment.

If you receive and accept an offer from us, we require that personal and any related investments be disclosed confidentiality to our Compliance team (days vary by region). These investments will be reviewed to ensure they meet Code of Ethics requirements. If any conflicts of interest are identified, then you will be required to liquidate those holdings immediately. In addition, dependent on your department and location of work certain employee accounts must be held with an approved broker (for example all, U.S. employee accounts). If this applies and your account(s) are not with an approved broker, you will be required to move your holdings to an approved broker.

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.