T. Rowe Price
Senior Analyst, ETF Capital Markets - Implementation and ETF Data Ownership

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About the Team
ETF Trading Solutions supports the facilitation of primary market activity, tax-efficient trading strategies and implementation for T. Rowe Price’s ETFs. The team coordinates across Portfolio Management, Trading, ETF Capital Markets, Operations, Tax, Compliance, Investment & Trading Solutions and Technology to ensure ETFs operate efficiently and the platform is structured to scale. The team also develops implementation capabilities that can be leveraged across investment vehicles, including Redemption In Kind (RIK) solutions for mutual funds.
About the Role
The ETF Analyst is an investment implementation and data ownership role within ETF Trading Solutions. The analyst supports pre- and post-trade analysis of Portfolio Manager activity to make full use of the ETF vehicle’s capabilities, while serving as a business owner for the data that enables ETF trading, primary-market activity, portfolio implementation and oversight.
The role requires expertise in ETF mechanics—including creation/redemption activity, basket construction, spreads, premiums/discounts and indicative values—together with a strong understanding of tax lots, tax-lot harvesting and relevant security-level tax considerations. The analyst combines this investment knowledge with quantitative, data engineering and programming skills to develop scalable implementation solutions and improve after-tax and transaction-cost outcomes.
Consistent with the broader Trading Solutions model, data ownership is a core responsibility rather than a downstream support activity. The analyst defines business requirements and data standards, establishes accountability for critical ETF data, monitors quality and controls, prioritizes remediation and enhancement work, and partners with Technology and data-producing/consuming teams to evolve the ETF data model and strategic roadmap. The objective is to create trusted, reusable data foundations that reduce implementation risk, support automation and analytics, and enable the ETF platform to scale.
Principal Responsibilities
ETF Implementation and Investment Solutions
- Analyze Portfolio Manager trade ideas and portfolio activity to determine efficient implementation methods that leverage the unique capabilities of ETFs.
- Synthesize security characteristics, liquidity and volatility data, transaction-cost analysis, tax-lot information and input from Portfolio Managers, Traders, ETF Capital Markets Specialists, Portfolio Investment Analysts and Trading Analytics to refine implementation strategies.
- Support creation/redemption and basket-related analysis, including the evaluation of primary- versus secondary-market implementation and opportunities to improve tax efficiency and reduce transaction costs.
- Contribute to the development and implementation of tax-efficient trading solutions across investment vehicles, including mutual-fund RIK capabilities.
- Apply modelling, statistics, optimization and programming to solve investment implementation problems and automate repeatable analytical workflows.
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ETF Data Ownership and Governance
- Act as a business data owner/domain owner for ETF Trading Solutions, with accountability for the fitness, usability and appropriate governance of critical ETF data used in investment and trading workflows.
- Define and maintain business definitions, data requirements, critical data elements, ownership and stewardship expectations, lineage needs, quality standards and control requirements for ETF data domains.
- Establish and monitor data-quality measures and controls; investigate exceptions, coordinate root-cause analysis and drive remediation with Technology, Operations, vendors and other data-producing teams.
- Own the business prioritization of ETF data defects, enhancements and strategic initiatives, balancing investment impact, operational risk, scalability and platform growth.
- Represent ETF Trading Solutions in data governance forums and ensure business decisions, standards and ownership are clearly documented and communicated.
- Partner with Technology to develop and evolve the ETF data strategy, target data model, APIs and reusable data services, with clear business acceptance criteria and validation of delivered solutions.
- Identify opportunities to simplify, standardize and automate data acquisition, transformation, validation and distribution, reducing manual intervention and implementation risk.
- Ensure new ETF products and capabilities have appropriate data readiness, controls and operating ownership before launch and as they scale.
Analytics, Technology and Platform Development
- Build and maintain analytical tools and data pipelines supporting ETF implementation, monitoring and decision-making.
- Lead the business design and implementation of a scalable ETF reconciliation/data-quality platform, working with our Technology partners to build out the supporting tooling, controls, and exception workflows.
- Work effectively with APIs, relational databases and structured data formats to extract, transform, validate and integrate data across investment workflows.
- Use programming and modern development practices to create robust, maintainable solutions, including testing, version control and CI/CD where appropriate.
- Translate investment and trading requirements into clear specifications for Technology and partner teams, and participate in solution design, testing and implementation.
- Develop metrics and management information that make data quality, process health, implementation outcomes and platform scalability visible to stakeholders.
Subject Matter Expertise, Communication and Partnership


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- Serve as a subject matter expert on ETF implementation and ETF data, connecting investment, trading, operational and technology perspectives.
- Communicate the ETF data strategy, roadmap, priorities, risks and decisions clearly to stakeholders across the investment organization.
- Create concise, high-quality analysis, communications and presentations for Investment Staff, senior stakeholders and, where appropriate, external audiences.
- Actively share knowledge and best practices across ETF Trading Solutions and the broader Trading Solutions platform.
- Maintain relevant market and industry expertise through professional bodies, industry events and engagement with external partners.
Skills and Experience to Succeed in the Role
- Degree in a quantitative discipline, or equivalent experience, with strong mathematics, computer science, engineering, finance or related analytical skills.
- Strong understanding of ETFs and their primary- and secondary-market mechanics; knowledge of tax-lot optimization and tax-efficient portfolio implementation is highly desirable.
- Experience owning or governing business data, including defining requirements and standards, managing data quality and controls, and partnering with Technology to resolve issues and deliver strategic data capabilities.
- Experience extracting, transforming and manipulating data, with a strong understanding of APIs (including REST/SOAP), relational databases and structured formats such as JSON and XML.
- Programming experience in R and at least one additional language such as Python or C/C++; experience with version control, containerization and CI/CD is beneficial.
- Ability to combine investment judgment, quantitative analysis and technology to solve ambiguous problems and build scalable solutions.
- Strong communication and stakeholder-management skills, with the ability to establish ownership, influence priorities and drive cross-functional work to completion.
- Outstanding candidates with adjacent investment, trading, data or technology experience may be considered where they demonstrate the ability to develop the required ETF and tax expertise.
Role Outcomes
- More efficient and tax-aware ETF implementation and trading decisions.
- Clear business ownership and governance of critical ETF data.
- Higher data quality, stronger controls and faster remediation of issues affecting investment workflows.
- Scalable, reusable data and analytical capabilities that support ETF product growth and new trading solutions.
- Closer alignment across Investment, Trading, ETF Capital Markets, Operations, Compliance, Tax and Technology around a common ETF data strategy and operating model.
This role is eligible for hybrid work, with up to one day a week from home.
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