Portfolio Manager

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

Benefits offered by this job

Health insurance

Dental insurance

Vision insurance

Wellness credits

EAP program

Job summary

RPIA Capital Management in Toronto seeks a senior Portfolio Manager to lead North American investment‑grade corporate credit portfolios in CAD and USD. The role requires 7+ years in institutional fixed income, a proven track record in idea generation, portfolio construction, and performance contribution.

Responsibilities include risk budgeting, developing high‑conviction investment ideas, and actively engaging with dealers, issuers, and research teams to inform positioning across markets.

Qualifications

• 7+ years of experience investing in, managing, or trading North American fixed-income portfolios.
• Experience across CAD and USD investment-grade corporate credit markets.
• Strong issuer, sector knowledge and relationships with market participants.
• Proven ability to develop independent investment views and ideas.
• Experience in primary and secondary corporate bond markets, with portfolio positioning.

Responsibilities

• Contribute to portfolio construction, risk budgeting, and investment decision‑making across CAD and USD portfolios.
• Develop high‑conviction investment ideas using fundamental, technical, and relative value analysis.
• Assess exposures by sector, issuer, rating, duration, and liquidity; manage concentration risk.
• Identify opportunities to enhance risk‑adjusted returns through security selection and sector allocation.
• Engage in investment committee discussions and provide market insights.

Skills

Fixed income analysis

Portfolio construction

Risk management

Credit analysis

Market engagement

Education

Finance/Economics/Business/Engineering/Mathematics degree

Job description

We are seeking a full‑time permanent Portfolio Manager to join our Investment Management team. The Portfolio Manager will play a key role in managing North American investment‑grade corporate credit portfolios across both CAD and USD mandates. The successful candidate will bring 7+ years of institutional fixed income experience with a demonstrated track record of generating investment ideas, constructing portfolios, and contributing to investment performance within corporate credit markets. They will possess deep expertise across primary and secondary investment‑grade bond markets, strong issuer and sector knowledge, and established relationships with dealer trading desks, syndicate teams, issuers, and other market participants. This role is best suited to an experienced buy‑side portfolio manager, senior credit investor, or institutional fixed income professional who combines strong fundamental credit analysis with market insight, relative value expertise, and sound portfolio construction judgment.

Responsibilities

Portfolio Management & Portfolio Construction

• Contribute meaningfully to portfolio construction, risk budgeting, and investment decision‑making across CAD and USD investment‑grade corporate credit portfolios.
• Develop and implement high‑conviction investment ideas based on fundamental, technical, and relative value analysis.
• Assess portfolio exposures across sectors, issuers, ratings, duration, spread duration, liquidity, and concentration limits.
• Identify opportunities to enhance risk‑adjusted returns through security selection, sector allocation, and relative value positioning.
• Participate in investment committee discussions and portfolio reviews, providing independent recommendations and market insights.

Credit Investing & Research

• Develop independent views on issuers, sectors, and broader credit markets.
• Analyze company fundamentals, capital structures, leverage trends, earnings performance, and credit trajectories.
• Evaluate opportunities across primary and secondary markets, identifying mispriced securities and attractive risk‑adjusted return opportunities.
• Incorporate macroeconomic developments, monetary policy, interest‑rate dynamics, and credit cycle considerations into portfolio positioning.
• Partner closely with research colleagues to challenge assumptions, refine investment theses, and identify emerging risks and opportunities.

Market Engagement & Execution

• Maintain active relationships with dealer trading desks, syndicate teams, issuers, and institutional market participants.
• Evaluate and execute primary market opportunities, including new issue pricing, allocations, and relative value assessment.
• Monitor market technicals, fund flows, supply‑demand dynamics, and liquidity conditions across corporate credit markets.
• Source liquidity and execute transactions efficiently across investment‑grade bond markets.

Critical Competencies

• Technical Knowledge – Demonstrates deep expertise in North‑American fixed‑income markets with particular strength in CAD and USD investment‑grade corporate credit. Strong understanding of credit valuation, relative value analysis, portfolio construction, risk management, market structure, and primary and secondary bond markets.
• Macro Perspective – Strong ability to interpret economic data, central bank policy, inflation dynamics, geopolitical developments, credit‑cycle trends, and market technicals to inform portfolio positioning and risk‑taking decisions.
• Investment Judgement – Demonstrates the ability to develop, defend, and implement independent investment views. Balances conviction with risk awareness and consistently evaluates opportunities through a risk‑adjusted return lens.
• Market Engagement – Maintains strong relationships across dealer trading desks, syndicate teams, issuers, and market participants. Leverages market intelligence and technical insights to identify opportunities and inform investment decisions.
• Operational Excellence – Maintains strong knowledge of ethical standards, due diligence requirements, portfolio controls, regulatory obligations, and risk‑management practices while upholding RPIA's fiduciary and client service standards.
• Ownership & Initiative – Self‑starter with intellectual curiosity, strong analytical capabilities, and a proactive approach to identifying opportunities, solving problems, and driving investment outcomes.
• Integrity & Collaboration – Professional, collaborative, and accountable individual who operates with the highest ethical standards, values diverse perspectives, and contributes positively to RPIA's culture and reputation.

Requirements

• 7+ years of experience investing in, managing, or trading North American fixed‑income portfolios with significant exposure to CAD and USD investment‑grade corporate credit.
• Demonstrated experience evaluating and investing across primary and secondary corporate bond markets, including security selection, relative value analysis, and portfolio positioning.
• Strong understanding of credit markets, macroeconomics, monetary policy, interest‑rate dynamics, and fixed‑income relative‑value strategies.
• Experience contributing to portfolio construction, risk budgeting, and investment decision‑making within institutional fixed‑income portfolios.
• Established relationships with dealer trading desks, syndicate teams, issuers, and other market participants considered a strong asset.
• Proven ability to develop, defend, and implement independent investment views and generate investment ideas that contribute to portfolio performance.
• Experience investing through multiple credit and interest‑rate cycles.
• Graduation from a post‑secondary institution in Finance, Economics, Business, Engineering, Mathematics, or a related discipline.
• CFA designation, CIM, or other qualifications required for registration with applicable Canadian securities regulators.
• Experience in credit research, institutional fixed‑income portfolio management, fixed‑income trading, investment banking, or related capital markets roles.
• Strong quantitative, analytical, communication, and relationship‑management 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/
• Artificial Intelligence may be used as part of this recruitment initiative.
• Compensation Range: $150,000 – $175,000 base salary, additional compensation may be available.

Benefits

• 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.

Equal Opportunity Employer

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. If you require accommodation during the recruitment process, please connect with us at [e-mail].