Position Description
CLOSING DATE: April 16, 2024.
Here is an exciting opportunity to help lead the way in ESG stewardship and engagement at one of the Maple 8 pension plan investment managers!
Our ESG Team is looking for a Principal or Senior Principal, ESG Stewardship where you will contribute to leading industry practices through our advocacy, engagement and proxy voting programs.
In this role you will have an opportunity to influence senior management and board directors of some of the largest companies in our Public Markets portfolios and advocate with policy makers on a broad range of ESG risks and opportunities.
WHO YOU WILL BE WORKING WITH
The Public Markets group manages a portfolio of fixed income, equity and absolute return investments representing approximately $142 billion utilizing both index and active management strategies. The group invests in Canada, the U.S. and Internationally in both the developed and emerging markets. Assets are managed using both internal management and external managers. The group uses a diverse mix of financial instruments including bonds, equities, and derivatives. In addition, the group is a leader in responsible investing actively integrating environmental, social and governance factors into our investment analysis and decision-making.
CORPORATE ESG TEAM DESCRIPTION
BCI provides investment management services to British Columbia's public sector, British Columbia Investment Management Corporation (BCI) partners with our 32 clients to generate investment returns that will help our clients provide a financially secure future to their members. With our global outlook, we seek investment opportunities that will meet our clients’ risk and return requirements over time. As part of the prudent investment management of our clients' funds, we aim to mitigate the long-term financial risks that environmental, social, and governance (ESG) matters present. It begins with the integration of ESG considerations into our investment analysis, decisions, and processes in a consistent manner across the corporation. We also invest to leverage the benefits of ESG opportunities to generate attractive investment returns. We invest across a range of asset classes: fixed income; mortgages; public and private equity; real estate; infrastructure; and renewable resources.
WHAT YOU WILL GET TO DO
The Principal/Senior Principal, ESG Stewardship reports to the Director, ESG and takes a leadership role on active ownership activities covering public equities and fixed income, in line with BCI’s Corporate ESG Strategy and Climate Action Plan. The Principal/Senior Principal, ESG Stewardship has strong sectoral expertise related to the environmental, social, and governance (ESG) performance of companies, has advanced knowledge of ESG analysis at the entity level and supports reporting to internal and external stakeholders. The role is responsible for strategic engagement activity with portfolio companies to minimize risk in the portfolio over the long term. To strengthen and complement direct company engagement, the Principal/Senior Principal will support on policy advocacy with regulators and policy makers on systemic ESG risks. Collaboration with other investors is an important element of successful active ownership and policy advocacy. In performing these functions, the Principal/Senior Principal works closely with the rest of the ESG team, external research providers and internal BCI staff and serves as a mentor to junior members of the team. The ideal candidate brings a long-term value investing mindset with excellent interpersonal and communication skills. Credibility and experience with company senior management and boards, as well as with regulators and standard setters is crucial for this role.
WHERE YOU WILL WORK
This role may be based in our Victoria or Vancouver office, with a strong preference for the Victoria office
SALARY RANGE
BCI offers a competitive total rewards package which includes a performance-based incentive plan, comprehensive health & dental benefits, a defined benefit pension plan and paid time off.
The annualized base salary range for this role is:
Principal: CAD $126,000 - $155,000
Senior Principal: CAD $147,000 - $175,000
The base salary offered to the successful candidate will consider a wide array of factors including but not limited to the individual’s skill set, level of experience applicable to the role they are being offered and consideration to internal equity.
We pay our people competitively in the markets in which we compete for talent and with consideration to internal equity and job structure. We aim for actual pay to be around the median of the market for target or expected levels of performance, and around the upper quartile of the market for excellent performance.
Actual salaries may vary and may be above or below the range based on various factors, including, but not limited to, experience and expertise.
PRIMARY RESPONSIBILITIES
- Leads many aspects of the ESG active ownership program for Public Markets to implement the Influence pillar of the Corporate ESG Strategy and the Climate Action Plan and deliver tangible engagement outcomes
- Leads the development and continuous improvement of stewardship practices, processes, and tools, including research, peer benchmarking, risk and opportunity assessment, documentation, reporting and monitoring processes and systems, and insights derivation
- Develops strategies and tactics to ensure our most carbon-intensive investments set mature net-zero aligned commitments
- Builds and maintains relationships with portfolio companies, and engages independently with senior company representatives (CEOs, CFOs and Board Directors)
- Leads or supports collaborative engagements
- Advises proxy voting decisions in support of active ownership activities
- Supports the development of a policy agenda and engages with regulators and financial market regulators to enact specific regulatory changes to address systemic ESG issues
- Builds and maintains effective partnerships with like-minded institutional local and international investors, working group and peer networks to maximize BCI's influence and impact
- Works with the internal team to further develop and contribute to knowledge and capacity building
- Identifies, leverages, and manages relationships with external research sources and other service providers relevant to active ownership
- Represents BCI at client meetings, and industry conferences; delivers presentations to trustees, clients, and industry audiences to maintain and strengthen BCI’s leadership
- Supports the preparation of ESG reporting to internal and external stakeholders.
WHY APPLY TO JOIN BCI
With our values as our anchor, it’s our people that help shape employee-focused initiatives and who create the environment we work in each day – all of which further strengthens our culture. BCI has been recognized as one of Canada’s Top 100 Employers – for the fifth consecutive year - and has built programs and benefits to support all our employees, including;
- Extended health and dental coverage, start on your first day of work. We have you covered!
- Our telehealth provider Dialogue connects you and your family to virtual healthcare appointments
- Eligibility to the defined benefit BC Public Service Pension Plan providing you with a secure retirement income
- Time off includes: 20 days vacation, 6 paid sick days, 6 paid personal days, and 2 paid days for volunteering – to support physical, mental, and community health
- Work one day per week from home, plus an option to work from anywhere for up to one month each calendar year
- Annual wellness allowance to support an active lifestyle well as physical well-being when working at home
- On-going learning through our in-house mentoring program, professional dues support, tuition reimbursement, and online and in-house learning
- Relocation support is available if a move to one of BCI’s locations is required
- Invested in your learning: BCI investment professionals lead a monthly Investment Club to share industry knowledge with employees who work in other departments
At BCI, we value diversity and believe in fostering an inclusive culture where all employees can be successful.
We are performance and client focused and value integrity; if you share these values, we want to know you.
We recognize that some skills can be learned on the job and encourage all to apply.
If you require an accommodation for the recruitment process (including alternate formats of materials, accessible meeting rooms or other accommodations), contact us at [email protected].
We would like to hear from you!
Required Skill / Experience
Must have:
- Relevant university degree complemented by research/industry experience
- Minimum 7-12 years of direct experience in ESG/sustainability/environment in investment management, corporate management or consulting
- Experience in conducting engagements with companies and/or regulators, and advanced knowledge of stakeholder relationship management
- Strong knowledge of ESG issues and their risk/return impacts on companies and investment portfolios
- Relevant sectoral expertise related to ESG and/or carbon-related risk and opportunity such as oil & gas, electric utilities, mining, steel and/or cement
- Knowledge and experience with relevant policy levers in support of engagement priorities
- Demonstrated quantitative and qualitative analysis and research experience
- Demonstrated experience in engaging with stakeholders and company management teams in a constructive and tactful manner on ESG, including on company-level ESG strategy development and implementation
- Strong interpersonal skills and analytical and problem-solving abilities
- Highly developed communication skills; ability to express complex and technical concepts in a clear and concise fashion to a wide-range of internal and external stakeholders through written and verbal format
Preferred:
- A graduate degree, MBA, CFA and/or other professional designation considered an asset
- Experience in the financial markets with knowledge of the investment management industry
- Specialized knowledge of specific ESG issues and/or applicability in international markets
- Experience with, or strong knowledge of, sustainability standards and frameworks, including TCFD, ISSB, SASB, GRI, GHG Protocol, SFDR, and SDGs.
