Principal, Risk - Private & Structured Credit

Posted 06 November 2023

Principal, Risk - Private & Structured Credit at Ontario Teachers' Pension Plan

Investment & Corporate Banking Full-time Toronto

Experience: Not specified
Education Required: Advanced degree in a quantitative discipline (mathematics, applied economics or finance, physics, engineering).
Salary Range: Not Specified

Close date: 05 December 2023

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Position Description

The opportunity

The Principal, Risk - Private & Structured Credit plays a core role in shaping and executing OTPP’s credit risk management practice and supporting the analytical needs of the investment and functional partner business lines. This individual has expert knowledge of the credit transactions and exposures at OTPP, and the relevant downstream market and liquidity risk implications. They interact frequently with various teams across OTPP – particularly Investments and the Functional Partners - and serve as a key member of the Credit and Capital Markets Risk (CCMR) team.

Who you’ll work with

The CCMR department is an integral part of the Risk division. The Credit and Counterparty Risk team oversees the fundamental credit and counterparty risk for Ontario Teachers’.

The Principal will support Risk’s key relationships across Private and Public Credit, and lead or participate in intradepartmental and cross departmental committees.

What you’ll do

Uses professional judgment, investment knowledge and quantitative modeling to:

  • Critically evaluate and monitor the credit worthiness of existing and prospective private debt and structured credit investments.
  • Support proactive management and monitoring of credit risk and exposures against internal limits.
  • Ensure that all direct credit risk is properly identified, analyzed and reported to the correct discretionary authority.
  • Help develop and manage the credit term framework for OTPP’s private credit loan documentation, ensuring it meets the Board’s risk appetite and business needs.
  • Regularly engage OTPP counterparties and co-investors on new and emerging developments, to provide key analysis and recommendations to decision-makers across Risk, Investments and the Functional Partners.
  • Monitor market and regulatory developments, leading research and industry best practices in Credit Risk and share timely insights with relevant stakeholders.
  • Positively represents OTPP in leading engagement and advocacy efforts involving industry experts, peers, and the greater credit risk management community.
  • Understand (in depth) the parameters, implications and risks of OTPP’s agreements as a direct or structured lender.
  • Ensure the Director and Head of CCRM has the appropriate, accurate, and timely information required to provide leadership on various internal and external committees and commitments.
  • Support the development of Board reading and presentation materials.
  • Understand and promotes best practices on credit risk management within the team and the broader organization.
  • Contribute to the overall strategy and business planning for the CCRM team.
  • Help selectively recruit, resource, coach and train the investment risk team over time.
  • Support Risk’s key relationships across the global investment team, Functional Partners and Board. Leads or participates in intradepartmental (e.g. the Review Council) and cross-departmental committees / working groups to provide subject matter expertise and analysis.
  • Develop, implement and maintain fundamental and structured risk measurement models and simulations

What we’re offering

  • Pay-for-performance environment that offers competitive salary and incentive
  • Numerous opportunities for professional growth and development
  • Comprehensive employer paid benefits coverage
  • Retirement income through a defined benefit pension plan
  • The opportunity to invest back into the fund through our Deferred Incentive Program
  • A flexible/hybrid work environment combining in office collaboration and remote working
  • Competitive time off
  • Our Flexible Travel Program gives you the option to work abroad in another region/country for up to a month each year
  • Employee discount programs including Edvantage and Perkopolis
  • Degreed: a digital platform that helps you quickly and easily discover, share, and track various learning resources — from courses to videos to articles and more

At Ontario Teachers', diversity is one of our core strengths. We take pride in ensuring that the people we hire and the culture we create, reflect and embrace diversity of thought, background and experience. Through our Diversity, Equity and Inclusion strategy and our Employee Resource Groups (ERGs), we celebrate diversity and foster inclusion through events for colleagues to connect for professional development, networking & mentoring. We are building an inclusive and equitable workplace where our talent is respected, accepted and empowered to be themselves. To learn more about our commitment to Diversity, Equity and Inclusion, check out Life at Teachers'.

Required Skill / Experience

  • Advanced degree in a quantitative discipline (mathematics, applied economics or finance, physics, engineering).
  • Additional related designation (FRM/PRM, CFA).
  • 5-8 years of relevant experience in the financial services industry, with a focus on financial modelling, credit analysis, quantitative application of both fundamental and structural loan underwriting, loan syndication, their derivatives, and structured products thereon including CLOs, SRT, Asset Backed Finance and Index Tranches.
  • Expert understanding of credit documentation as well as due diligence.
  • End-to-end (origination to funding) experience pricing, negotiating, reviewing, and underwriting direct and derivative structures with non-bank Financial Institution obligors, global banks, asset managers, pension plans, sovereign wealth funds and other institutional investors.
  • Tech, Media and Telecommunications, Healthcare, and/or Diversified Industries Corporate Banking origination or adjudication experience, from a deal’s marketing to its close, is an asset.
  • Strong understanding of the global regulatory and institutional landscape and best practices, specifically with respect to credit capital and related governance.
  • A results-oriented track record in operationalizing frameworks.
  • Experienced at engaging and influencing a range of internal and external stakeholders, at multiple seniority levels.
  • Able to train, supervise and mentor more junior staff.
  • A global outlook, with good judgment in applying leading practices.
  • Adept at communicating complex issues and well-reasoned positions to varied audiences (both orally and written).
  • Models effective collaboration and partnership across business lines.
  • Ability to oversee multiple streams of activities and research under pressure and with time sensitive deadlines, ensuring accurate and value added outcomes for each.

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