Senior Transaction Cost Analyst (TCA)


The Senior Transaction Cost Analysis (TCA) Analyst will be responsible for strategic TCA research, TCA reporting, as well as powering analysis to support the rest of the TCA team, including execution consulting and evaluation of next-generation trading/analytical tools. The Senior Analyst should demonstrate thought leadership to drive the TCA program forward, and serve as a resource to help mentor the other analysts.

Duties and Responsibilities:

  • Originates, designs, implements, and presents strategic research to identify, measure, and reduce transaction costs.
  • Provides analysis to key business partners, including the trading desks and execution consultants.
  • Mentors junior analysts by guiding them in TCA and market structure issues and quantitative techniques.
  • Engages with internal and external partners to represent the TCA team’s needs and perspectives on analyses that help to measure and manage transaction costs.
  • Develops and maintains knowledge of market structure, microstructure, and TCA in order to bring an informed perspective to the research process.
  • Provides thought leadership and takes a leadership role in shaping the research agenda and infrastructure.
  • Works with engineers to guide the team’s infrastructure and data needs.
  • Participates in special projects and performs other duties as assigned.


  • Undergraduate degree in a Quantitative or Technological discipline; Masters Degree or PhD highly preferred.
  • Minimum of three years experience in Transaction Cost Analysis or equity trading strategy.
  • Excellent technical and analytical skills.
  • Excellent interpersonal and relationship-building skills.
  • Excellent written and oral communication skills.
  • Ability to set medium- and long-term vision and prioritize impactful research.
  • Proven ability to mentor/manage others highly desired.
  • Ability to work independently and in a team environment.
  • Demonstrates a high degree of motivation.

Vanguard is not offering visa sponsorship for this position.

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