KERWIN XIANG LIAO
Columbia
Summary
Data-driven researcher specializing in quantitative modeling, financial analysis, and investment research. Strong candidate for Equity Research Senior Associate roles, with expertise in Python, R, and SQL for valuation, market analysis, and strategic decision-making. Previously at Morningstar, applying financial analytics to drive business outcomes.
Overview
11
11
years of professional experience
Work History
Quantitative Researcher, Doctoral Student
University of South Carolina, Darla Moore School of Business
08.2021 - 08.2025
- Conducted statistical modeling (regression, panel data, network analysis) to analyze firm performance and market adaptation.
- Developed Python web scrapers to collect unstructured data, preprocessing and analyzing text to create a structured ~50K dataset for firm performance insights.
- Reviewed academic and financial literature, synthesizing data-driven insights applicable to investment and corporate strategy.
- Developed and implemented computational simulations (Agent-Based Models, NK models) to study market efficiency and strategic decision-making.
- Sole lecturer for IBUS 301 – Introduction to International Business, leading discussions and explaining complex business concepts.
Research Assistant
Chinese Academy of Financial Inclusion
01.2020 - 06.2021
- Assisted in field research for the Financial Diaries China project, collecting and analyzing real-world financial behavior data.
- Cleaned and processed large-scale survey data from field researchers, ensuring accuracy and consistency for analysis.
- Maintained and optimized the database and backend code for a Mini Program, improving data accessibility and usability.
Operations Analyst, Level II Support, Direct & Reporting
Morningstar, Inc.
09.2017 - 07.2018
- Provided technical support and client advisory for Direct, a widely used financial advisory software, resolving issues related to asset flows, performance reporting, and custom data calculations.
- Collaborated with the product team to enhance software features based on client feedback, improving usability and functionality.
- Diagnosed complex client issues, identified the responsible teams, and ensured timely resolution by coordinating cross-functionally.
QA Automation Engineer, Manager Research
Morningstar, Inc.
11.2015 - 09.2017
- Built a Python-based monitoring tool that enabled developers to quickly identify root causes of server failures, reducing resolution time. Automated weekly reports improved cross-team collaboration and issue tracking.
- Developed and maintained automation test scripts using Agile methodologies, enhancing test efficiency and software quality.
- Created and executed test cases for new features and regression testing across multiple platforms in an Agile development environment.
- Conducted manual and scenario-based testing, ensuring product reliability and alignment with Agile sprints.
- Logged, tracked, and prioritized software defects in JIRA, collaborating with developers to drive timely resolutions.
Data Research Analyst
Morningstar, Inc.
09.2014 - 11.2015
- Researched and analyzed global ETF data, focusing on fund composition, index tracking performance, and market trends.
- Worked with portfolio and index data to ensure ETF performance reporting accuracy and resolve discrepancies in fund tracking methodologies.
- Collaborated with internal and external teams to resolve index fund data quality issues, improving data reliability.
Education
Master of International Business, Doctoral Student -
University of South Carolina, Darla Moore School of Business
08.2025
Master of Science - Economics
Chinese University of Hong Kong, Shenzhen Finance Institute
11.2019
Bachelor of Management - Administrative Management
University of International Relations
06.2014
Skills
- Python, R, SQL, Excel
- Statistical Analysis: Regression, Panel Data, Network Analysis
- Investment Research & Market Analysis
- Product management & cross-functional collaboration
- Efficient project & time management
- Literature review & synthesis for data-driven insights
- Organizational adaptation & firm performance analysis
- Computational simulation (Agent-Based Models, NK models)
Websites
Timeline
Quantitative Researcher, Doctoral Student
University of South Carolina, Darla Moore School of Business
08.2021 - 08.2025
Research Assistant
Chinese Academy of Financial Inclusion
01.2020 - 06.2021
Operations Analyst, Level II Support, Direct & Reporting
Morningstar, Inc.
09.2017 - 07.2018
QA Automation Engineer, Manager Research
Morningstar, Inc.
11.2015 - 09.2017
Data Research Analyst
Morningstar, Inc.
09.2014 - 11.2015
Master of Science - Economics
Chinese University of Hong Kong, Shenzhen Finance Institute
Bachelor of Management - Administrative Management
University of International Relations
Master of International Business, Doctoral Student -
University of South Carolina, Darla Moore School of Business
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