Vice President & Director Institutional Product Development and Research

Posted 01 April 2024

Vice President & Director Institutional Product Development and Research at TD Asset Management

Investments Full-time New York

Experience: Senior-Level
Education Required: Undergraduate degree and CFA
Salary Range: Not Specified

Close date: 30 May 2024

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TD Asset Management (TDAM), a member of TD Bank Financial Group, is a leading North American investment manager offering progressive investment solutions to both institutional and individual investors. For over two decades, the organization has established competitive market positions in active, quantitative, and passive portfolio management. As of December 31, 2023, TDAM and its affiliates manage over $410 billion in assets on behalf of pension, insurance, endowment/foundation, and corporate clients, as well as high-net worth clients and retail mutual funds.

In attaining this client commitment, TDAM has built one of Canada’s largest and most respected investment management and research teams with more than 220 Portfolio Managers, Associate Portfolio Managers, Traders and Analysts.

Position Description

The Institutional Product team within TD Asset Management is responsible for the product strategy and development of TD's entire institutional product portfolio. The team’s mandate is as follows:

  • Develop a solid understanding of markets, competitors, product and regulatory trends and client needs to effectively inform decisions on new product concepts
  • Synthesize data on emerging medium and long term product development trends to inform product roadmap
  • Develop products for various countries and regions to profitably grow market share
  • Provide a high level of support to our Relationship Management and Client Service groups
  • On-going product management ensuring our investment solutions remain competitive and compliant with regulatory requirements

Key Responsibilities:

  • Serve as the senior member of the Institutional Product team and management of junior/mid-level team members
  • Meet with internal and external stakeholders to identify product gaps
  • Advising the business on optimal product structures and characteristics for distribution globally
  • Exploration / analysis of new product capabilities and concepts + proof of concept, including consideration for vehicle structures and regulatory regimes as it relates to product structures
  • Act as a subject matter expert on product structures, including global fund structures such as UCITS, etc.
  • Overseeing competitive and industry research, analysis and recommendations to promote the development of new product concepts
  • Supporting junior members as business cases are being developed for new product initiatives
  • Help define and build the business case for new product development initiatives through assembling fact-based arguments and providing competitive insights
  • Oversee strategic product launch/restructuring initiatives
  • Collaborating with senior stakeholders to implement initiatives, e.g. Legal, Compliance, Risk, Investment Team, Relationship Management
  • Managing relationships with external vendors and driving contract negotiation
  • Escalation of issues that require leadership support

Key Interactions:

The following interactions constitute an integral part of this position:

  • Direct report to the Vice President & Director, Corporate Strategy & Global Institutional Product
  • Executives, relationship managers and other investment professionals across TD Wealth and TD Bank, including those in non-domestic jurisdictions
  • Collaborate with internal partners including Business Management and Solutions, Corporate Strategy, Product Design, Portfolio Management, Client Portfolio Managers, Sales, Legal, Sales Strategy and Communications, Finance, Compliance, Operations and Marketing
  • 3rd Party vendor relationships

Required Skill / Experience

  • Minimum 7 years' experience in investment product development and/or global product structuring with minimum 3 years' experience in structuring investment solutions for institutional clients required
  • Experience with alternatives, including real assets required
  • Knowledge of Canadian institutional investment product related vehicles including a working knowledge of major investment strategies and styles employed by fixed income, equity and alternative portfolio managers is required
  • Knowledge of pool fund trusts, limited partnerships, LLCs, offshore feeders, UCITs is preferred
  • Understand TDAM's general investment philosophy, investment styles, and product structures
  • Preference given to candidates with product development experience across various asset classes and vehicles
  • Demonstrated experience engaging in complex investment product launches with multiple stakeholders
  • A working knowledge of regulatory and compliance issues, fund accounting and performance/portfolio reporting principles
  • Understanding of US regulation, including SEC rules, Volcker rules and Bank Holding Act
  • Expert knowledge of the institutional client segment
  • Understanding of operational aspects of alternative product development, such as capital call process
  • People management experience
  • Highly collaborative and strong EQ
  • Ability to navigate cross-functional relationships
  • Ability to manage multiple projects at once, and prioritize according to business strategies provided
  • Undergraduate degree and CFA required

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