Job

Manager, Absolute Return Strategies

Posted 08 February 2024

Manager, Absolute Return Strategies at University Pension Plan Ontario

Investments Full-time Toronto

Experience: Mid-Level
Salary Range: Not Specified

Close date: 07 April 2024

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ABOUT UPP

UPP is the first pension plan of its kind in Ontario’s university sector, proudly serving over 39,000 members across four universities and 12 affiliate organizations. Our purpose is to bring greater retirement peace of mind to the university sector by investing with integrity and serving members with care. As a sector-wide plan designed for growth, our doors are open to all Ontario universities.

Together, we’re a team of progressive thinkers and agile doers operating within a fast-paced culture of collaboration and respect. We believe in bringing smart and capable people together to create, solve and grow with a clear shared vision and values of integrity, inclusivity, ingenuity, and impact.

Our culture is intentionally welcoming and purposefully rooted in equity, diversity, inclusion, and reconciliation (EDIR). We believe diverse teams, perspectives, and lived experiences contribute to better decisions and a better workplace.

As a long-term investor, we recognize that environmental, social and governance (“ESG”) factors support risk management and value creation. As stated in our Responsible Investing Policy, we are committed to incorporating ESG considerations into our investment management activities and we collaborate with other industry participants in the promotion of a sustainable economy and society.

Join us in building a bright future for our members, our organization, and each other.

Position Description

The Role

This is an exciting opportunity for an exceptional individual to join a team of high performing professionals and make a significant impact.

Reporting to the Managing Director, Public Markets, the Manager, Absolute Return Strategies, will build strong trusted relationships and communicate effectively with internal and external stakeholders in support and development of UPP’s Absolute Return Strategy portfolio and strategy. An inclusive ‘one fund’ mindset will unite the investment team in a shared mission to meet the pension promise, deliver on UPP’s expectations as a responsible investor, and position our investment platform as a key competitive differentiator.

This role is based in downtown Toronto under a hybrid work policy, allowing employees the flexibility to work remotely and in-office (approximately two days per week in-office).

When applying, please explain in a cover letter why you are interested in joining UPP, why this role is appealing to you, and what you will be bringing to the role and to the Public Markets team.

Specific Accountabilities

  • Contribute to the development of UPP’s Absolute Return Strategy investment strategy on an on-going basis, with a particular focus on hedge fund equity and managed futures strategies
  • Research and recommend absolute return strategies that will contribute to both the asset class and total fund performance
  • Lead certain aspects of the manager due diligence process on fundamental and systematic equity and managed futures managers, including virtual and/or site-visits and provide support in the on-boarding and negotiation process
  • Contribute to the team’s portfolio construction efforts
  • Collaborate with investment finance, operational, legal and tax teams to ensure appropriate negotiation, documentation, structure and management of the on-boarding process
  • Review and/or prepare material to support Investment Committee meetings, including portfolio commentaries and manager memos
  • Build and nurture strong partnerships with external managers
  • Contribute to the building of the infrastructure and tools necessary for external manager analysis and monitoring and portfolio management
  • Collaborate with the Responsible Investment group and other industry participants to integrate and implement UPP’s Responsible investment strategy with external managers
  • Contribute to UPP’s reputation as a respectful employer, partner, and fiduciary

Required Skill / Experience

  • Minimum of 5 years of experience in the investment management and/or pension industries, or consulting, with some experience in the search, selection, due-diligence and monitoring of external hedge fund managers. A good knowledge of hedge fund equity and managed futures strategies would be a plus
  • CFA, CAIA or any other relevant professional designation would be an asset

Attributes

  • A passion for markets and in particular hedge fund strategies
  • Inquisitive, ask questions and fast learner
  • Detail-oriented with strong analytical and problem-solving skills
  • Excellent written and oral communication skills and a keen ability to convey technical information clearly and concisely
  • A nimble, proactive team player who thrives in a start-up environment
  • Excellent interpersonal skills and a positive attitude; able to build positive relationships with UPP and external stakeholders
  • Demonstrated ability to meet high performance standards and maintain a calm, pleasant demeanor in a fast-paced, deadline-driven environment
  • Alignment with UPP’s desire to be a leader in Responsible Investing, ESG, and climate change

Personality Traits

  • Self-driven
  • Humility
  • Strong work ethic
  • Passionate about sustainability
  • Empathetic
  • Collaborative
  • Authentic
  • Personable
  • Confident

LIFE AT UPP

Do work that matters. We are duty-bound to serve our members’ interests, and it’s a responsibility we don’t take lightly. That’s why we’ve ingrained sustainability in our work from day one—to ensure our members have a resilient future to retire into, both today and for generations to come.

Stronger together. Collaboration is how UPP was born, and it’s how we work with each other and our partners day in, day out. No one at UPP is just a number (even if they are excellent at math) and every win is a shared win.

Grow every day. You’ll have the opportunity to work on unique, once-in-a-career projects that maximize your skill set and probably teach you some new ones—at any stage in your career.

Prioritize wellness. At UPP, wellness takes many forms. Ultimately, it’s about ensuring our people are cared for in the ways that matter to them. Check out some highlights of our inclusive employee-focused benefits program including:

  • Defined benefit pension plan
  • Flexible hybrid work model
  • Work from abroad up to eight weeks/year
  • Comprehensive group benefits including medical, dental, vision etc.
  • Extended paramedical and mental health service coverage
  • Health care and lifestyle spending accounts
  • Fertility treatments, paid parental leave, and gender affirmation coverage
  • Education Assistance program

UPP enthusiastically welcomes applications from all qualified applicants and especially invites people with lived experience as an Indigenous person, a person with a disability or as a member of another Human Rights Code protected group that faces barriers to employment to apply. Our goal is to create a barrier-free experience for every candidate throughout the recruitment process, so if you require accommodation at any point during the process, please let us know so that we can make the appropriate arrangements. It would be our honor to work with you to adapt our processes to ensure that you can meaningfully participate.

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