Portfolio Manager recruitment

The CPP Investment Board is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 17 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, the CPP Investment Board invests in public equities, private equities, real estate, inflation-linked bonds, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London and Hong Kong, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length from governments. For more information about the CPP Investment Board, please visit www.cppib.ca. 

Role Summary

We are presently recruiting for a Portfolio Manager in the Total Portfolio Management department. The Portfolio Manager supports the group’s total portfolio management mandate, which includes portfolio construction, management and performance analytics. The Portfolio Manager will lead a team that establishes internal pricing models for all risks, including liquidity risk. The Portfolio Manager will also lead efforts to model and manage portfolio risk allocations in conjunction with the risk budgeting process.

The Total Portfolio Management Department

The Total Portfolio Management (“TPM”) department is building the capabilities to enable a consistent framework for managing a broad range of risks across the entire fund. These capabilities will further enhance the top-down component of our Total Portfolio Approach - specifically the efficient allocation of systematic risks (including better beta, liquidity, and credit risk) as well as active risk generated by the investment departments. Additionally, the department leads the design of the CPP Reference Portfolio, risk budgeting for the total active portfolio and evaluates the risk-return properties of investment strategies and emerging opportunities in the context of the total portfolio. TPM consists of four groups: Portfolio Management, Investment Research, Quantitative Research, and Economic Research Services.

The Portfolio Management Group

The Portfolio Management (“PM”) group will advise and manage on behalf of the IPC, the systematic risk and allocation of active risk across the total portfolio. The active risk position constantly evolves as assets are acquired/divested, strategies are refined, and economic conditions and markets change. Using a suite of quantitative tools and qualitative perspectives, the PM group optimizes the active risk position in the face of these changes. The PM group also ensures that aggregate portfolio risk exposures are consistent with the fund’s return expectations and risk preferences. By helping build and implement a fund-wide risk/return framework, the PM Group aligns key decisions with superior fund performance.

Role-Specific Accountabilities

• Lead a small team of investment professionals

• Recommend and develop strategies that ensure fund liquidity is optimally priced and deployed

• Establish methodologies for assessing liquidity consumption and internal pricing

• Ensure that the collection of funding, hurdle rate, benchmarks, incentive curves, and DVA targets, is well-aligned with broad portfolio objectives

• Create production processes and appropriate governance structures that ensure reliable liquidity deployment

• Support the integration of liquidity pricing into a range of organizational decisions

• Collaborate with team to ensure that risk and return models of the investment portfolio are robust, complete, and accurate

• Stay abreast of advances in active portfolio management theory and implementation techniques and apply those developments to the extent appropriate.

• Develop and manage appropriate relationships with external subject matter experts

• Provide timely communication, including presentations and clearly written documentation of concepts and results

• Develop and manage relationships with the Investment Departments, and Treasury, Risk, Operations and Technology.

• Provide forward-looking analysis and commentary on portfolio risks and performance

• Support the development of risk and performance objectives for the total CPP Investment Board portfolio

• Work cross-functionally with other team members and departments to ensure continued alignment with the CPP Investment Board’s vision, goals and values

• Other duties as required.

If you possess the following, we’d like to hear from you:

• Graduate degree in a quantitative field (e.g. applied mathematics, financial economics, physics, finance).

• 8 to 10 years of progressive experience in the financial industry

• Strong command of finance theory and quantitative techniques, as applied to portfolio construction and management

• Knowledge of institutional structure and deep interest in financial markets along with a demonstrated understanding of capital markets

• Superior analytical skills

• Highly effective interpersonal skills with demonstrated solid oral and written communication skills (particularly ability to communicate complex subjects to a less technical audience)

• Experience building and managing high-performing teams

• Strong attention to detail, prioritization and organizational skills required

• Demonstrated good judgment, professionalism and integrity

• Proven ability to perform effectively in a team-oriented environment

• Ability to quickly grasp new concepts and work in a high-performing culture, under pressure and with time-sensitive deadlines

• Strong problem solving skills and ability to think independently

• Self-motivated, flexible and adaptable

If you are looking for an exciting opportunity and to build a career in an innovative and dynamic investment organization, please submit your resume online at:

http://cppib.talcura.com/candidates/SearchJobResults01.aspx?en=1JobCode=Q411-545R  


We thank all applicants for their interest, however only candidates selected for an interview will be contacted. CPP Investment Board is an Equal Opportunity Employer.