Associate Portfolio Manager, Public Credit

Investment Management Corporation of Ontario; Toronto; Hybrid; CAD 140,000 - 181,000; Full time

Benefits offered by this job

Comprehensive benefits package

Job summary

Investment Management Corporation of Ontario (IMCO) is seeking an Associate Portfolio Manager for Public Credit in Toronto. You will support the Global Credit team in selecting external managers, structuring mandates, and monitoring performance while leveraging data analytics and AI tools to enhance portfolio insights.

You will collaborate with risk, performance, and operations teams to drive portfolio strategy and client reporting, in a hybrid office setting at 16 York Street, Toronto.

Qualifications

• Minimum 5+ years of experience in asset management with public credit focus.
• Experience conducting due diligence on external managers and investment processes.
• Strong understanding of global public credit markets and portfolio construction.

Responsibilities

• Support manager selection, monitoring, and evaluation of public credit portfolios.
• Prepare investment memos and presentations for investment committee approval.
• Structure investment mandates and negotiate fees with external managers.
• Monitor performance, risk, and adherence to guidelines; enhance analytics via AI.

Skills

Asset management

Public credit

Data analytics

AI-enabled tools

Due diligence

Education

Undergraduate degree

CFA/MBA

Tools

Data platforms

AI tools

Job description

At IMCO, our talent is among the best! IMCO offers a uniquely stimulating and rewarding environment where you can help build and drive organizational transformation, all while seeking to challenge yourself, learn, and grow your career. Our culture is built on collaboration and passion, with a shared commitment to delivering lasting value to the clients we serve. Located in downtown Toronto, our vision is to be the partner of choice for Ontario’s public sector funds and to build a high‑performing, value‑driven asset management firm. This job posting is for an existing vacancy. If you are ready to deliver best‑in‑class service and join a collaborative, motivated and fun team of professionals, IMCO offers the opportunity to do impactful work and broaden your expertise. If you’re looking to use your expertise to drive strategic outcomes, we’d love to hear from you. IMCO’s actively managed Global Credit strategy (~$10.1B AUM) delivers higher risk‑adjusted returns through a unified approach to credit investing, integrating public and private credit within a single, globally diversified portfolio. The strategy adopts a holistic approach to portfolio construction, allocating across public credit segments, including investment grade, high yield, leveraged loans, and structured credit, alongside private credit segments to capture relative value opportunities, enhance diversification, and optimize liquidity and return outcomes across market cycles. Our collaborative culture and value‑add approach to strategic partnerships makes us a preferred partner to some of the largest investors in the world. We have a targeted strategy to grow our highly diversified Global Credit portfolio and are looking for a highly motivated Associate Portfolio Manager to join our Global Credit team with a focus on public credit! The Associate Portfolio Manager, Public Credit will play a key role in managing IMCO’s externally managed Public Credit portfolio, with responsibilities spanning manager selection and due diligence, portfolio strategy and construction, and ongoing monitoring and oversight. The role combines rigorous investment analysis with active portfolio management, while also contributing to ongoing initiatives to enhance the Global Credit platform and target operating model, including the implementation of investment systems and processes and the development of advanced analytics and AI capabilities to improve portfolio insights and support investment decision‑making. As a Member of Our Global Credit Team, You Will Contribute Across Three Core Areas: Manager Selection & Oversight, Portfolio Management and Strategy, and Platform Enhancement: Provide analytical and portfolio management support to the Managing Director in overseeing externally managed public credit portfolios on a day‑to‑day basis, including ad hoc analysis and strategic initiatives. Source, screen, and conduct due diligence on external public credit managers across strategies (e.g., investment grade, high yield, loans and structured credit), utilizing data platforms and AI‑enabled tools to analyze performance, identify risks, and support manager screening and ongoing evaluation. Lead and support the preparation of investment recommendations, including drafting investment memos and presentations for internal Investment Committee approval. Assist in structuring and negotiating investment mandates, guidelines, and negotiating fee arrangements with external managers in collaboration with risk, legal and other internal teams. Conduct ongoing monitoring of external managers, including performance attribution, risk exposures, style drift, and adherence to investment guidelines; leverage AI to enhance efficiency in analysis, identify performance and risk trends, and support the development of portfolio‑level reporting and insights for senior management. Lead or contribute to initiatives within Global Credit to enhance portfolio management infrastructure through the application of AI and the integration of new investment systems and analytics capabilities; partner with internal teams (Risk, Performance, Operations, Technology) to improve investment data quality to enable more effective analysis, reporting, and decision‑making. Support portfolio construction and strategic asset allocation across public credit, including contributing to capital allocation decisions across segments and managers, and shaping overall portfolio strategy. Maintain a strong understanding of global public credit markets, including macroeconomic trends, interest rates, credit spreads, and technical factors, to inform manager selection and portfolio positioning. Engage regularly with external managers through diligence meetings, portfolio reviews, and on‑site visits to assess portfolio strategy, market outlook, and execution capabilities. Support client and stakeholder reporting, including preparation of quarterly updates, market commentary, and materials for senior management and board‑level discussions.

What do you need to succeed?

Minimum 5+ years of experience in asset management, with a focus on public credit investing and manager selection and oversight. Experience leveraging data analytics and AI‑enabled tools to support investment research, manager evaluation, or portfolio insights. Strong understanding of global public credit markets, including corporate bonds, leveraged loans, structured credit, and credit market dynamics. Experience conducting due diligence on external investment managers, including evaluation of investment processes, portfolio construction, and risk management. Experience in private debt / private credit or broader private markets is considered an asset. Undergraduate degree required. CFA designation, MBA or master’s degree(s) are considered an asset. Strong analytical and problem‑solving skills, with the ability to synthesize complex investment information into clear, actionable insights. Effective communicator with the ability to present investment recommendations and market views to senior stakeholders. Collaborative team player with an appreciation for diverse perspectives and a high‑performing team environment. Self‑starter who can engage and motivate other people around key ideas, effectively listen and provide constructive feedback to others, participate in discussion and brainstorming. Strong interpersonal skills with the ability to build and maintain relationships with internal teams and external managers.

The base salary range for this position is CAD $140,000.00 - $180,750.00. The placement within the range is determined by the range of market pay for the specific position, as well as the candidate's knowledge, skillset and experience relative to the requirements of the position and to internal peers. In addition to base salary, this position is eligible to participate in IMCO's annual incentive plan. As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you with the specific details for this position, as well as the total rewards offering at IMCO including our comprehensive benefits package and defined benefit pension plan.

We thank all applicants for their interest. Only those selected for an interview will be contacted. Our hybrid work model prioritizes an office‑first approach, encouraging employees to make the most of our collaborative workspace at 16 York Street, Suite 2400, Toronto, ON M5J 0E6. This welcoming environment fosters teamwork, connection, and professional growth. While flexibility remains a key component of our model, we believe that regular in‑office engagement enhances productivity and strengthens our culture. Our approach supports a fulfilling lifestyle that balances professional ambition with personal wellbeing.

IMCO is committed to providing accommodation for people with disabilities throughout the recruitment process. If you require support, please let us know and we will work with you to meet your needs. Artificial intelligence (AI) tools may be used to support parts of our recruitment process, such as screening and assessments. However, all hiring decisions are made by our recruitment team. Candidates being considered for this position will be required to undergo background screening.

The Investment Management Corporation of Ontario (IMCO) is Ontario’s professional asset manager, investing on behalf of our public sector clients so they can care for beneficiaries and secure retirement futures. With approximately $90.7 billion in assets under management, we are one of the largest institutional investment managers in Canada and around the globe. Our mandate is to provide broader public sector clients with exceptional investment management services, including best‑in‑class advice around portfolio construction, efficient access to a diverse range of asset classes and superior reporting on risks and returns. Our vision is to rank among the world’s leading public‑sector asset managers. We will achieve this through an unwavering focus on creating client value. That means ensuring that we deliver the returns required for our clients to meet their long‑term financial obligations.