Portfolio Manager

RPIA Capital Management; Toronto; On-site; CAD 150,000 - 175,000; Full time

Benefits offered by this job

Health insurance and dental

Vision coverage

Wellness credits

Mentorship program

Job summary

RPIA Capital Management in Toronto is seeking a full-time permanent Portfolio Manager to lead fixed-income strategies across government, provincial, MBS, and investment‑grade credits, focusing on HQLA and macro‑driven portfolio construction.

You will collaborate with research, trading, quantitative and risk teams to develop macro views, identify opportunities, and execute trades in primary and secondary markets, while upholding risk controls and institutional standards.

Qualifications

• Experience managing liquid fixed‑income products including government bonds, provincials, MBS and investment‑grade credit.
• Strong understanding of macroeconomics, rates markets, and fixed‑income relative value strategies.
• Existing relationships with dealer trading and syndication desks are a plus.

Responsibilities

• Manage and trade liquid fixed‑income portfolios across government, provincial, agency, MBS, securitized, and investment‑grade credit markets.
• Develop and express macro views related to rates, yield curves, inflation, and monetary policy.
• Monitor primary issuance and secondary market opportunities across HQLA sectors.
• Identify relative value opportunities across rates, credit, and securitized products.
• Collaborate with research, trading, and risk teams to implement portfolio strategies and risk controls.

Skills

Fixed-income expertise

Macro analysis

Quantitative skills

Communication skills

Risk management

Education

CFA designation

CIM or Canadian registration criteria

Post-secondary degree

Tools

Trade desks relationships

Job description

We are seeking a full-time permanent Portfolio Manager to join our Investment Management team.

The Portfolio Manager will be a key contributor to RPIA’s Investment Management team, with a focus on High-Quality Liquid Assets (HQLA), macro-oriented portfolio construction, and liquid fixed‑income strategies. In this role, you will be responsible for actively managing and trading portfolios across government and spread sectors including U.S. Treasuries, provincials, agencies, investment‑grade corporates, mortgage-backed securities (MBS), and other high‑quality securitized products. The successful candidate will contribute to top‑down macro positioning through analysis of global economic trends, central bank policy, interest rates, inflation dynamics, and cross‑market relative value opportunities.

You will work closely with research, trading, quantitative, and risk teams to develop macro views, identify attractive risk‑adjusted opportunities, and implement portfolio strategies across both primary and secondary markets. The role requires strong fixed‑income expertise, market judgment, and an ability to navigate evolving liquidity and credit conditions across global rates and spread products.

The duties and responsibilities of the Portfolio Manager include, but are not limited to:

• Managing and trading liquid fixed‑income portfolios across government, provincial, agency, MBS, securitized, and investment‑grade credit markets
• Developing and expressing macroeconomic and market views related to interest rates, yield curves, inflation, monetary policy, and global growth trends
• Monitoring primary issuance and secondary market opportunities across high‑quality liquid asset sectors
• Identifying relative value opportunities across rates, credit, and securitized products
• Contributing to portfolio construction, duration positioning, curve strategies, and liquidity management discussions
• Conducting technical and fundamental analysis on market segments, sectors, and targeted investment opportunities
• Collaborating with the research team to incorporate robust macro, credit, and quantitative analysis into investment decisions
• Engaging with issuers, dealers, syndicate desks, sales, trading, and external research providers to monitor market developments and execute trades effectively
• Managing trade flow and ensuring efficient portfolio implementation and risk management
• Working closely with execution, research, structuring, and quantitative portfolio management teams to optimize portfolio outcomes

Critical Competencies

• Technical Knowledge – Demonstrates deep understanding of global fixed‑income markets including rates, HQLA, provincials, MBS, securitized products, and investment‑grade credit
• Macro Perspective – Strong ability to interpret economic data, central bank policy, geopolitical developments, and market technicals to inform investment positioning
• Operational Excellence – Maintains strong knowledge of ethical standards, due diligence, risk management, and portfolio controls while upholding RPIA’s service standards
• Persistence & Motivation – Self‑starter with strong analytical capabilities and the ability to execute investment ideas decisively in dynamic market environments
• Integrity – Professional, collaborative, and accountable individual who understands the importance of confidentiality and contributes positively to RPIA’s reputation and culture

Requirements

• Experience managing and trading liquid fixed‑income products including government bonds, provincials, MBS, securitized products, and investment‑grade credit
• Strong understanding of macroeconomics, monetary policy, rates markets, and fixed‑income relative value strategies
• Existing relationships with dealer trading and syndication desks considered an asset
• Relevant portfolio management or trading experience within institutional fixed income markets
• Graduation from a post‑secondary institution
• CFA designation, CIM, or other minimum criteria for registration with Canadian securities regulators required
• Experience in credit research, macro strategy, rates trading, or investment banking considered an asset
• Strong quantitative, analytical, and communication skills

Additional Information

• Position Type: Full‑Time Permanent
• Work Location: Toronto
• To learn more about life at RPIA, visit https://rpia.ca/
• Read our firm’s magazine, Voices of RPIA: https://online.flippingbook.com/view/581240358/
• This is to fill an open vacancy
• Artificial Intelligence may be used as part of this recruitment initiative
• Compensation Range: $150,000 – $175,000 base salary, additional compensation may be available

RPIA is proud to be Great Place to Work Certified™. What sets us apart?

• Exceptional single and family benefits package that includes health, dental, and vision insurance plus additional Health Care Spending and Wellness credits.
• inConfidence (provided by Medavie Blue Cross via Inkblot) Employee and Family Assistance Program to support mental well‑being and extends to all family members in your household.
• Opportunities for professional and personal growth through:
• Cross‑functional Mentorship Program
• Internally curated Leadership Skills training program

RPIA is an Equal Opportunity Employer

We believe in the power of diversity of thought, and we aspire to have an inclusive workplace that

mirrors the fabric of our community. We strongly encourage applications

regardless of race, religion,

colour, national origin, gender, sexual orientation, age, marital status, or

disability status. We are

committed to providing an accessible and equitable application and hiring

process and will make accommodations should you require it at any point. We

encourage you to connect with us at [e-mail] if you require accommodation

during the recruitment process.

Our culture is defined by our six core values: Client-First, Innovation, Excellence, Partnership, Integrity, and Giving back.

Our clients often say the outstanding service we deliver is as important to them as the returns we achieve for them. With over 135 employees and approximately $21 billion in assets under management for a broad investor base of institutions and private clients, we proudly remain privately owned by employees who invest alongside our clients.