We are seeking a full-time permanent Portfolio Manager, Quantitative Strategies & Macro Credit to join our Investment Management team.
The Portfolio Manager will play a key role in portfolio construction, quantitative risk analysis and macro credit hedging across RPIA's investment strategies. Working closely with Portfolio Managers and the Co-Chief Investment Officers (Co-CIOs), the successful candidate will provide actionable insights into portfolio exposures, market dynamics and risk positioning to support investment decisions and optimize risk-adjusted returns.
The successful candidate will bring strong quantitative and analytical capabilities, deep knowledge of credit and derivatives markets, and experience developing and executing hedging strategies across asset classes. They will combine macroeconomic insight with a disciplined approach to risk management, portfolio optimization and investment execution.
This role is best suited to an investment professional with experience in portfolio management, quantitative analysis or macro credit, who combines strong analytical capabilities with sound investment judgment, a proactive approach to problem-solving and a collaborative approach to portfolio management.”
The duties and responsibilities of this role include, but are not limited to:
- Portfolio Analytics & Risk Management
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- Develop and utilize quantitative tools to assess portfolio risk, beta, positioning and changes in exposures over time, including cash credit, interest rates and derivatives.
- Provide actionable insights to Portfolio Managers and Co-CIOs to inform portfolio construction, risk budgeting and investment decisions.
- Develop quantitative signals to identify opportunities and emerging risks in individual credits, working collaboratively with research Portfolio Managers.
- Conduct internal performance attribution to evaluate investment outcomes across trading and research Portfolio Managers.
- Macro Credit Hedging & Execution
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- Monitor and manage macro credit exposures, ensuring hedging strategies remain appropriately sized across changing market and volatility environments.
- Execute investment-grade and high-yield credit beta strategies using liquid instruments, including credit default swap (CDS) indices, futures and related derivatives.
- Manage credit index rolls, including roll differentials, skew resets and positioning considerations.
- Identify and evaluate relative value opportunities across macro credit products, collaborating with the Co-CIOs on investment positioning and execution.
- Cross-Asset Strategies & Portfolio Optimization
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- Monitor equity-related macro exposures and identify dislocations between credit spreads and equity markets to inform cross-asset hedging strategies.
- Develop and implement relative value strategies across credit and equity instruments within established risk limits.
- Analyze volatility regimes and design hedging structures that balance downside protection, carry, margin requirements and portfolio objectives.
- Optimize hedging strategies across portfolios, including discount bond funds, through appropriate instrument selection, hedge tenors and basis considerations.
- Evaluate the cost and effectiveness of alternative hedging approaches, considering carry, convexity, basis risk and overall portfolio efficiency.
- Technology, Analytics & Process Improvement
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- Modernize existing portfolio analytics tools, models and workflows to improve efficiency, accuracy and scalability, working collaboratively with the SANTA team.
- Identify opportunities to integrate artificial intelligence and automation into investment analysis, portfolio monitoring and reporting, working collaboratively with the SANTA team.
- Contribute to the modernization of RPIA's investment databases, investment data platform implementation and broader systems integration initiatives.
- Collaborate across Investment Management and Technology teams to enhance data accessibility, analytical capabilities and investment processes.
- Communication & Collaboration
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- Provide regular written and verbal updates to Portfolio Managers and Co-CIOs on portfolio positioning, risk exposures, hedging strategies and market developments.
- Communicate complex quantitative analysis clearly, translating technical findings into practical investment insights.
- Work collaboratively with research, trading and investment teams to support coordinated portfolio management and risk-taking decisions.
Critical Competencies
- Technical Knowledge – Demonstrates strong expertise in fixed-income markets, credit derivatives, macro hedging and cross-asset investment strategies. Possesses advanced quantitative capabilities and a deep understanding of portfolio construction, risk measurement, relative value analysis and derivatives pricing.
- Macro Perspective – Strong ability to interpret economic data, monetary policy, inflation dynamics, geopolitical developments and market volatility to inform portfolio positioning and hedging decisions.
- Investment Judgment – Demonstrates sound judgment in evaluating investment opportunities, managing exposures and implementing hedging strategies. Balances conviction with risk awareness and consistently considers risk-adjusted returns, portfolio objectives and prevailing market conditions.
- Quantitative & Analytical Thinking – Applies advanced analytical techniques, quantitative models and data-driven insights to solve complex investment problems, identify market dislocations and enhance portfolio outcomes.
- Innovation & Technology – Proactively identifies opportunities to modernize analytical tools, automate workflows and leverage emerging technologies, including artificial intelligence, to improve investment processes and decision-making.
- Operational Excellence – Maintains strong knowledge of portfolio controls, risk limits, regulatory obligations and investment processes while upholding RPIA's fiduciary and client service standards.
- Ownership & Initiative – Self-starter with intellectual curiosity, strong problem-solving capabilities and a proactive approach to identifying opportunities, improving processes and delivering investment outcomes.
- Integrity & Collaboration – Professional, collaborative and accountable individual who operates with the highest ethical standards, communicates effectively and contributes positively to RPIA's culture and reputation.
Requirements
- Demonstrated familiarity with institutional portfolio management, quantitative investment strategies, macro credit trading or related capital markets roles.
- Strong understanding of investment-grade and high-yield credit markets, credit derivatives, interest-rate products and cross-asset hedging strategies.
- Knowledge of the trading or managing exposures through liquid credit instruments, including CDS indices, futures and other derivatives.
- Advanced quantitative and analytical skills, including experience developing models for portfolio risk, performance attribution, investment signals and hedging optimization.
- Strong understanding of macroeconomics, monetary policy, volatility regimes, credit spreads and fixed-income relative value strategies.
- An understanding of portfolio construction, risk budgeting and managing exposures within established investment guidelines and risk limits.
- Proficiency with quantitative programming and data analysis tools, such as Python, SQL or equivalent technologies, would be considered a strong asset.
- Experience with investment systems, data infrastructure, workflow automation and artificial intelligence applications considered an asset.
- Proven ability to communicate complex analytical findings and investment recommendations to senior investment professionals.
- Graduation from a post-secondary institution in Finance, Economics, Mathematics, Engineering, Computer Science or a related discipline.
- CFA designation, CIM or other qualifications required for registration with applicable Canadian securities regulators, as appropriate to the role.
- Strong analytical, problem-solving, communication and relationship-management skills.
Additional Information
- Position Type: Full-Time
- Work Location: Province of Quebec or Toronto
- To learn more about life at RPIA, visit https://rpia.ca/
- Read our firm’s magazine, Voices of RPIA: https://online.flippingbook.com/view/859829658/
- This is to fill an open vacancy
- Artificial Intelligence may be used as part of this recruitment initiative
- Compensation Range: $150,000 – $175,000 base salary, additional compensation may be available
RPIA is proud to be Great Place to Work Certified™. What sets us apart?
- Exceptional single and family benefits package that includes health, dental and vision insurance plus additional Health Care Spending and Wellness credits.
- Employee and Family Assistance Program to support mental wellbeing extended to all family members in your household.
- Opportunities for professional and personal growth through:
- Cross-functional Mentorship Program
- Internally curated Leadership Skills training program
- Community outreach and monthly social events organized through our volunteer-led committees.
RPIA is an Equal Opportunity Employer
We believe in the power of diversity of thought, and we aspire to have an inclusive workplace that mirrors the fabric of our community. We strongly encourage applications regardless of race, religion, colour, national origin, gender, sexual orientation, age, marital status, or disability status. We are committed to providing an accessible and equitable application and hiring process and will make accommodations should you require it at any point. We encourage you to connect with us at hr@rpia.ca if you require accommodation during the recruitment process.
Our culture is defined by our six core values: Client-First, Innovation, Excellence, Partnership, Integrity, and Giving back. Our clients often say the outstanding service we deliver is as important to them as the returns we achieve for them. With over 135 employees and approximately $21 billion in assets under management for a broad investor base of institutions and private clients, we proudly remain privately owned by employees who invest alongside our clients.
