Managing Director, Interest Rates

Healthcare of Ontario Pension Plan Trust Fund Company; Toronto; On-site; CAD 320,000 - 460,000; Full time

Benefits offered by this job

Company-paid health and dental

Pension plan

Learning & development opportunities

Diversity & inclusion commitment

Tax-advantaged retirement security

Job summary

HOOPP is seeking a Managing Director, Interest Rates to lead the development and execution of global rate strategies with emphasis on Canadian and U.S. markets.

You will guide portfolio construction, capital allocation, and risk management within HOOPP's Total Portfolio approach. The role requires 15+ years in investment management, strong leadership, and the ability to communicate complex macro insights to governance bodies.

Qualifications

• 15+ years of direct investment management experience in rates markets.
• Strong track record in large institutional portfolios and risk-adjusted returns.
• Ability to lead and develop investment talent with clear direction.

Responsibilities

• Lead development and trading of global interest rate strategies within risk parameters.
• Drive capital allocation and portfolio construction across cash and derivatives.
• Mentor investment professionals and collaborate with risk and analytics teams.
• Communicate portfolio strategy and performance to senior leadership and committees.

Skills

Global fixed income

Canadian rates

Portfolio construction

Risk management

Team leadership

Stakeholder communication

Education

Bachelor's degree in Finance/Economics/Math/Engineering/Business

CFA designation or advanced degree

Job description

Why you’ll love working here

high-performance, people-focused culture our commitment that equity, diversity, and inclusion are fundamental to our work environment and business success, which helps employees feel valued and empowered to be their authentic selves learning and development initiatives, including workshops, Speaker Series events and access to LinkedIn Learning, that support employees’ career growth membership in HOOPP’s world class defined benefit pension plan, which can serve as an important part of your retirement security competitive, 100% company-paid extended health and dental benefits for permanent employees, including coverage supporting our team's diversity and mental health (e.g., gender affirmation, fertility and drug treatment, psychological support benefits of $2,500 per year, parental leave top-up, and a health spending account). optional post-retirement health and dental benefits subsidized at 50% yoga classes, meditation workshops, nutritional consultations, and wellness seminars the opportunity to make a difference and help take care of those who care for us, by providing a financially secure retirement for Ontario healthcare workers

Job Summary

The Managing Director, Interest Rates is accountable for developing and implementing the interest rate investment strategy to deliver strong risk-adjusted returns in support of HOOPP's Total Portfolio Approach. The role requires deep expertise in global fixed income markets with a particular focus on Canadian interest rate markets. The Managing Director is accountable for portfolio construction, capital allocation, investment strategy and performance, talent development and the continued evolution of the Interest Rates strategy. The successful candidate will get an opportunity to partner with other senior investment leaders across various teams in Capital Markets.

What you will do

Leading the development, implementation and trading execution of global interest rate strategies within liquidity, risk and mandate guidelines ensuring these strategies are aligned with HOOPP’s Total Fund objectives and risk parameters. Identify and implement both strategic and tactical opportunities to generate alpha specifically in Canadian and U.S. interest rate cash and derivatives markets, with an emphasis on disciplined trade implementation within the context of the Fund portfolios. Apply deep expertise of Canadian market liquidity sources to directly execute transactions. Identify trading signals and dislocations via analysis of central bank policy, market structure, macroeconomic investment themes and investor behaviors. Oversee portfolio construction and optimize capital allocation decisions for the portfolios across cash and derivative securities in accordance with the Firm’s opportunity set, VaR and capital usage, and liquidity guidelines. Ideate, develop and conduct quantitative research initiatives and analytical tool building to improve investment decision making and portfolio efficiency. Partner with Risk and analytics teams to enhance investment tools, stress testing, scenario analysis, and portfolio reporting. Assist in development and growth of Interest Rates business, including new and profitable adjacent strategies like inflation-linked and U.S. agency markets. Drive technological implementation of automation and AI-related initiatives. Develop, mentor and inspire investment professionals while strengthening leadership capability, succession pipelines, and talent retention. Build and maintain relationships with external market professionals: dealers, research providers, industry peers, and the broader investment community. Communicate clearly internally and externally to senior leadership and governance bodies on portfolio strategy and performance, risk positioning, market developments and recommendations. Collaborate closely with Total Fund Management, Balance Sheet and Liquidity Management, Risk, and other investment teams to support strategy, governance, liquidity planning, and asset mix decisions at the Fund level.

What you bring

An undergraduate degree in one of the following: Finance, Economics, Mathematics, Engineering, Business, or a related discipline; a CFA designation or advanced degree is preferred. 15+ years of direct investment management experience with deep expertise specifically in Canadian and U.S. rates markets, including both cash and derivatives products, with experience in benchmark aware and proprietary macro investing across nominal and inflation-linked developed markets. A demonstrated record of success managing large institutional portfolios delivering strong risk-adjusted performance through different market cycles; implying strong skills in portfolio construction, capital allocation, direct trade execution and risk management, contributions to the strategic direction of the investment business. Proven leadership capability with experience leading an investment team and business: setting clear direction, developing talent at all levels, providing constructive feedback while fostering an accountable and high-performing team culture. Sound judgment and integrity, and the ability to communicate complex macroeconomic concepts to senior stakeholders, management and committees. Long established senior relationships across the Canadian fixed income buy side and sell side investment communities. Consistently demonstrates HOOPP's values of being Accountable, Compassionate, and Trustworthy through leadership, decision-making, and collaboration.

The actual base salary offered to the successful candidate may vary based on multiple factors including, but not limited to, individual's expertise and level of experience applicable to the role they are being offered. This role is eligible to participate in discretionary incentive plan(s), subject to the terms and conditions of the applicable incentive plan text. This job is for an existing vacancy. HOOPP may use artificial intelligence tools to assist in screening, assessing and selecting applicants for this position. These tools support our recruitment process but do not replace human judgment and decision-making.

About HOOPP

Founded in 1960 by the Ontario Hospital Association, the Healthcare of Ontario Pension Plan (HOOPP) is one of Canada’s strongest and most stable defined benefit pension plans. For over 65 years, HOOPP has delivered on its pension promise to Ontario’s healthcare workers, now serving more than 504,000 members and 870 employers across the province. With offices in Toronto and London, HOOPP manages a global, diversified multi-asset portfolio. One of Canada’s Maple 8 pension plans, HOOPP oversees $132 billion in assets and remains fully funded, supported by strong risk-adjusted returns, stable contribution rates for more than 20 years and independent governance. Our strength is powered by our people who bring HOOPP’s mission, vision and values to life and play a crucial role in helping us succeed. We are a purpose-driven organization committed to building an equitable, diverse and inclusive workplace where different perspectives drive better outcomes. We look for talented, forward-thinking individuals who want their work to have real impact on the lives of others. We believe an equitable, diverse and inclusive (EDI) workplace is integral to cultivating a positive culture. We integrate fair and inclusive practices into our programs and processes, creating equal opportunity and establishing a consistent employee experience across our organization. If you need accommodation at any point in our recruitment process, please advise your recruiter or email us [e-mail] we will be happy to consult with you so that arrangements can be made for reasonable accommodation.