The Group:  On the Behavioral Insights Team, we use behavioral science to help people improve their finances. We then run digital experimental studies to determine what works, and what doesn’t, and publicize the results. 

The Role: Help millions of investors meet their financial goals.  Morningstar is looking for an applied behavioral scientist, to help understand and overcome the behavioral obstacles that individual investors and their advisors face when interacting with the markets.  You’ll pursue original research alongside a team of like-minded behavioralists and with leading academics from around the country.  This position is based in our Chicago office. 

Responsibilities

  • Lead investor-focused initiatives, developing our strategy for applying behavioral finance and the broader research into financial decision-making to help investors succeed.
  • Conduct original research on investor behavior, on issues of risk tolerance, market timing, behaviorally appropriate portfolio selection, and more.
  • Design, execute, and analyze large-scale randomized control trials to test your ideas (Morningstar interacts with millions of individual investors and with their advisors).
  • Work with the marketing, product, and research teams to identify and solve pressing questions around investor behavior, and put the answers into practice in our products.
  • Coordinate with our Behavioral Science Advisory Board – amazing and thoughtful researchers from around the country – to develop new interventions, and measure their real-life impact.
  • Publicize your results – in the media, papers, and at conferences. 

Requirements

  • A PhD (or a Masters with appropriate professional experience) in the behavioral sciences, especially behavioral economics or finance.
  • CFA or similar designations are a plus.
  • Professional experience in applying behavioral interventions specifically to improving investor or advisor outcomes is ideal.
  • Demonstrated ability writing about behavioral research for a general audience.
  • Experience and enjoyment in public speaking.
  • At least two years of experience using R, STATA, SQL or Matlab to analyze complex datasets (academics: yes, GRAs count).
  • Independent, creative thinker with a strong interest in investing.

Morningstar is an equal opportunity employer.  In your cover letter, mention how you’d help investors overcome two sample behavioral biases.

To learn more or apply for the position, please send your resume and cover letter to Steve at behavioralinsights@morningstar.com.