Analyst/ Associate, External Portfolio Management, CMF

Posted 20 December 2022

Analyst/ Associate, External Portfolio Management, CMF at CPP Investments

Portfolio Management Full-time Toronto

Experience: Mid-Level
Salary Range: $100, 000+

Close date: 17 February 2023

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Make an impact at a global and dynamic investment organization

When you invest your career in CPP Investments, you join one of the most respected and fastest growing institutional investors in the world. With current assets under management valued in excess of $500 billion, CPP Investments is a professional investment management organization that globally invests the funds of the Canada Pension Plan (CPP) to help ensure long-term sustainability. The CPP Fund is projected to reach $3 trillion by 2050. CPP Investments invests in all major asset classes, including public equity, private equity, real estate, infrastructure and fixed-income instruments, and is headquartered in Toronto with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney

CPP Investments attracts and selects high-calibre individuals from top-tier institutions around the globe. Join our team and look forward to:

  • Diverse and inspiring colleagues and approachable leaders
  • Stimulating work in a fast-paced, intellectually challenging environment
  • Accelerated exposure and responsibility
  • Global career development opportunities
  • Being motivated every day by CPP Investments’ important social purpose and unshakable principles
  • A flexible/hybrid work environment combining in office collaboration and remote working
  • A deeply rooted culture of Integrity, Partnership and High Performance

If you share a passion for performance, value a collegial and collaborative culture, and approach everything with the highest integrity, here’s an opportunity for you to invest your career at CPP Investments.

Position Description

The Capital Markets and Factor Investing Department (CMF) invests globally in public equities, fixed income securities, currencies, commodities, and derivatives, and manages the engagement of investment managers and co-investments in public market securities. CMF is also responsible for managing the Fund’s collateral, financing, and trading needs.

External Portfolio Management (EPM) is a group within CMF responsible for engaging and monitoring external managers in public markets across all trading styles, asset classes, and geographies.

We are presently recruiting for an Analyst/Associate in EPM. Based in Toronto and reporting to the Managing Director, the Analyst/Associate plays a key role in making and managing hedge fund investments globally.

Role specific accountabilities include:

A) Assist in the monitoring of hedge fund Investments:

  • Proactively support the day-to-day monitoring and analysis of existing external managers, peer universe, and relevant markets traded (including building robust and flexible tools, managing information, and document flow).
  • Capture relevant data and provide an on-going view of performance, exposures, and risks of the managers while working closely with Portfolio Managers, portfolio construction and risk team, and external partners.
  • Research and provide views on the universe of hedge fund managers in the strategies covered as well as key drivers and measures for the underlying markets.
  • Contribute to manager research, participate, and document meetings and calls with hedge fund managers and market participants.
  • Assist in presenting findings to the EPM team and the Investment Committee, as required.
  • Coordinate with internal stakeholders with respect to monitoring investments.

B) Analyze investment opportunities:

  • Research, analyze, and evaluate hedge fund managers, contributing to the investment decision making process.
  • Prepare for external manager meetings, create post-meeting analyses including detailed risk and attribution analyses, understand portfolio impact, write investment recommendations, and manage documentation.
  • Develop independent, fact-based views on external managers.
  • Attend and participate in EPM investment recommendation meetings.

C) Assist in developing EPM strategy:

  • Assist Portfolio Managers in evaluating the attractiveness of hedge fund strategies.
  • Prepare research on market drivers across various hedge fund strategies.
  • Perform quantitative analysis to formulate views on hedge fund strategies and their performance in various macroeconomic regimes.

Required Skill / Experience

  • 2 - 5 years relevant work experience in financial markets, either on a trading desk, at a hedge fund, bank, or at a buy-side organization.
  • Sound knowledge of finance, economics, statistics, and trading strategies is required (CFA or CAIA designation desirable)
  • Preference given to those with strong quantitative and programming skills (e.g., risk, portfolio, and statistical analysis in Matlab, VBA, SQL, Excel, C, or C++).
  • Ability to communicate effectively, both orally and in writing.
  • Strong record of meeting deadlines and ability to work well under pressure.
  • Flexibility, adaptability, and initiative. Candidate needs to be resourceful and able to manage multiple priorities.
  • Team player who enjoys a high-performance culture.
  • Willingness to travel.

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