Fixed Income Strategist

Royal Bank of Canada; Toronto; On-site; CAD 120,000 - 180,000; Full time

Benefits offered by this job

Bonuses

Stock options

Flexible benefits

Job summary

Royal Bank of Canada’s Toronto-based PAG Fixed Income Strategies desk seeks a strategist to shape fixed income views and advise RBC DS Investment Advisors. You will help manage active bond SMAs and discretionary portfolios, writing ideas and delivering portfolio recommendations.

The role requires strong macro, credit analysis, and communication skills, with exposure to US and international markets. A fast-paced, collaborative environment supports career growth.

Qualifications

• Bachelor's degree in economics, finance, mathematics, or related fields.
• Understanding of rates, inflation, central bank policy, and yield curve dynamics.
• Credit market knowledge including ratings, spread analysis, and issuer-level research.
• Experience in fixed income trading, credit analysis, portfolio management, market strategy, or closely related field.

Responsibilities

• Digest economic and market data with colleagues to develop strategies and communicate fulfillment options.
• Assist in the management of fixed income portfolios.
• Perform portfolio analysis on fixed income securities including government and corporate bonds.
• Assist Investment Advisors with investment strategies and one-on-one consultations.
• Engage with market thought leaders to refine investment ideas and stay ahead of market developments.

Skills

Fixed income

Credit analysis

Portfolio management

Market strategy

Excel proficiency

Communication skills

Education

Bachelor's degree in economics/finance

Tools

Bloomberg Terminal

VBA

Job description

Job DescriptionRBC Wealth Management's Toronto-based Portfolio Advisory Group ("PAG") is a team of roughly 30 professionals responsible for providing independent investment advice and portfolio management guidance to the nearly 2,000 investment advisors working under the RBC Dominion Securities ("RBC DS") banner in Canada. As a Strategist on our PAG Fixed Income Strategies desk, you will help shape investment views from the heart of Canada's fixed income market, on the RBC trade floor at 200 Bay Street.

In a highly visible role, you will deliver market opinions, actionable fixed income investment ideas, macro-economic outlook, asset allocation, and individual security selection guidance to RBC DS Investment Advisors. You will also participate in the management of active bond SMAs and discretionary portfolios. A key component of the role involves writing and communicating ideas on these subjects, as well as completing portfolio reviews and development of portfolio proposals. Although domestically focused, the position will offer you exposure to US and international fixed income markets as well. The ideal candidate would possess an analytical mind, intellectual curiosity, a team-first attitude, exceptional communication skills and an ability to thrive in a fast-paced environment. Most importantly, the candidate would have a strong interest in the capital markets, macroeconomics, rates, and credit analysis.

What will you do?

• Collaboratively digest economic and market data with colleagues to develop strategies and communicate fulfillment options in written and oral forums.
• Actively participate and assist in the management of the team's fixed income portfolios.
• Complete portfolio analysis on all fixed income securities including government bonds, corporate investment-grade bonds, high yield bonds, and preferred shares.
• Assist Investment Advisors in identifying and implementing appropriate investment strategies by providing scalable solutions and one-on-one consultation as needed.
• Engage with market thought leaders on Bay Street and Wall Street to exchange views, refine investment ideas, and stay ahead of market developments.
• Interact with the Fixed Income Trading Desk to navigate trade execution challenges, bond availability/liquidity, and relative value opportunities.

What do you need to succeed?

Must haves:

• Bachelor's degree in economics, finance, mathematics, or related fields.
• Macroeconomic knowledge: Understanding of interest rates, inflation, central bank policy, and yield curve dynamics.
• Credit market knowledge: Familiarity with credit ratings, spread analysis, and sector or issuer-level research.
• Prior work experience in fixed income trading, credit analysis, portfolio management, market strategy, or a closely related field, with a proven ability to analyse securities and assess how they fit within a broader portfolio.
• Excellent communication skills with the ability to distill complex ideas into clear, relevant and timely advice.
• Ability to communicate complex fixed income views clearly and confidently when presenting to audiences of varying sizes, such as internal committees, clients, or conference panels.
• Stakeholder collaboration: Experience working with portfolio managers, traders, sales, or clients.
• Proficiency in Excel.
• Ability to multi-task and prioritize in a very demanding and fast-paced environment.

Nice-to-have:

• CFA designation or working towards it.
• Model development: Experience building or maintaining proprietary forecasting or valuation models.
• Adjacent asset classes: Experience with rates derivatives, FX, securitised products, or emerging market debt.
• Proficiency with Bloomberg terminal.
• VBA Excel programming skills.

What's in it for you?

• We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Access to a work environment on the trade floor that puts you in close proximity with a wide range of RBC Capital Markets professionals
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunity to do challenging work and take on greater accountabilities in the future
• Opportunity to build close working relationships with RBC DS advisors across the country

About RBC

Royal Bank of Canada is Canada's largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets product