Senior Portfolio Manager recruitment

Role Summary
 
We are presently recruiting for a Senior Portfolio Manager in the Total Portfolio Management department. The Senior Portfolio Manager supports the group’s total portfolio management mandate, including portfolio construction, management and performance analytics.  The Senior Portfolio Manager will build and implement a framework that ensures CPPIB’s disparate investment programs comprise an effective overall portfolio.  With large public market, private investment, infrastructure, and real estate investment programs, the CPPIB portfolio presents unique challenges to a Portfolio Management group charged with assessing risk/return characteristics and managing risk consumption across the organization.  The Senior Portfolio Manager will establish internal pricing models for all risks, including liquidity risk.  The successful candidate will also lead efforts to model and manage portfolio risk allocations in conjunction with the risk budgeting process.  With our unique Total Portfolio Management mandate, this role goes far beyond the “asset label” allocation found at other institutions; the Senior Portfolio Manager guides portfolio growth with a firm command of investment department practicalities and a grasp of fundamental risk/return characteristics.
 
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

• Leading a team of Portfolio Management professionals

• Developing strategies that ensure fund liquidity is optimally priced and deployed

• Establishing methodologies that assess liquidity consumption and price liquidity

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

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

• Integrating liquidity pricing into a range of organizational decisions

• Ensuring that risk and return models of the investment portfolio are robust, complete, and accurate

• Enhancing an investment portfolio model that simulates all critical fund characteristics and anticipates fund condition across a range of scenarios

• Advancing an existing risk budgeting process that ensures investment department growth and resource consumption is aligned with larger portfolio goals

• Benchmarking asset and risk allocation techniques at other top institutions

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

• Developing and managing appropriate relationships with external subject matter experts

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

• Developing and managing relationships with the Investment Departments, and Treasury, Risk, Operations and Technology.

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

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

• Working 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).

• 10 to 15 years’ experience in the financial industry, with an emphasis on portfolio management

• 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 strong understanding of capital markets

• Experience working with disparate investment programs or business lines, including alternative asset classes

• Superior analytical skills

• Strong interpersonal skills with demonstrated solid verbal 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.

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


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