Portfolio Manager, Relative Value & Analytics, Fixed Income

Alberta Investment Management Corporation (AIMCo); Toronto; On-site; CAD 180,000 - 240,000; Full time

Benefits offered by this job

Inclusive, modern workplace

Professional development opportunities

Collaborative team culture

Job summary

Alberta Investment Management Corporation (AIMCo) is seeking a senior Fixed Income professional to join the Relative Value team. You will contribute to daily trading support, risk/return analysis, and the development of proprietary models for idea generation and risk management.

You will collaborate with analytics specialists to advance the portfolio management analytics platform, mentor junior team members, and interact with cross-functional groups including Operations, Technology, Risk

Qualifications

• Bachelor's or Master's Degree in finance, economics, engineering, computer science, mathematics, physics or other quantitative discipline; advanced degree would be a strong asset
• CFA qualification is an asset
• Minimum of eight years of experience managing fixed income portfolios or equivalent market experience
• Background in analyzing, trading, constructing, and managing fixed income cash or derivatives related instruments and strategies
• Ability to develop thoughtful trading strategies to achieve specific objectives and/or recommend alternative strategies for achieving portfolio goals
• Outstanding analytical skills and attention to detail
• Experience in empirical research
• Keen interest in developing and using technology to support investment decisions
• Advanced written and verbal communication abilities, including the ability to present effectively and clearly

Responsibilities

• Originating and conducting analysis of investment strategies, identifying and assessing the return/risk factors including quantitative and qualitative analysis
• Analyzing, monitoring, and stressing portfolio construction to identify vulnerabilities and sizing of trading strategies
• Developing and calibrating pricing models, with emphasis on interest rate option models, in collaboration with derivatives dealers and/or investment partner firms
• Developing and implementing repeatable processes to evaluate and price risk across the fixed income and portfolio construction process
• Taking an active role in building and maintaining infrastructure, working closely with other Relative Value team members and with Operations, Technology, Risk Management and Accounting teams
• Coach and mentor junior fixed income team members

Skills

Analytical skills

Empirical research

Communication skills

Financial modeling

Quantitative analysis

Trading strategy development

Technology in investing

Education

Bachelor's/Master's degree in finance/quantitative field

CFA qualification (asset)

Job description

Opportunity

On the Fixed Income Team at AIMCo, you will be playing an important role in providing our clients with capital preservation, liquidity, and superior risk-controlled returns relative to benchmark. The department is made up of five teams: Money Markets, Bonds, Private Placements, Credit Research and Relative Value, and manages more than $35 billion in investments.

The Relative Value team manages a levered global fixed income relative value portfolio. The team primarily deploys quantitative bottom-up approaches to identify investment opportunities and utilizes a top-down approach in looking for potential investment themes. The team manages and monitors the portfolio positions using a customized analytical platform with detailed daily return and risk measures.

Reporting to the Senior Director, Relative Value & Analytics, Fixed Income, you will be part of the team responsible for managing and supporting the daily trading of the portfolio, assessing risk/return factors of investment strategies and analyzing portfolio construction. Additionally, you will be responsible for developing and calibrating proprietary models used in idea generation and risk management. Finally, you will be contributing to the ongoing development of the portfolio management analytical platform in collaboration with the team's analytics specialists.

Responsibilities Include

• Originating and conducting analysis of investment strategies, identifying and assessing the return/risk factors including quantitative and qualitative analysis.
• Analyzing, monitoring, and stressing portfolio construction to identify vulnerabilities and sizing of trading strategies
• Developing and calibrating pricing models, with emphasis on interest rate option models (e.g., vanilla/mid-curve swaptions, curve caps/floors), in collaboration, if needed, with derivatives dealers and/or investment partner firms
• Developing and implementing repeatable processes to evaluate and price risk across the fixed income and portfolio construction process
• Taking an active role in building and maintaining infrastructure, working closely with other Relative Value team members, and with Operations, Technology, Risk Management and Accounting teams
• Coach and mentor junior fixed income team members

Our Ideal Candidate Qualifications

• Bachelor's or Master's Degree in finance, economics, engineering, computer science, mathematics, physics or other quantitative discipline; advanced degree would be a strong asset
• CFA qualification is an asset
• Minimum of eight years of experience managing fixed income portfolios or equivalent market experience
• Background in analyzing, trading, constructing, and managing fixed income cash or derivatives related instruments and strategies
• Ability to develop thoughtful trading strategies to achieve specific objectives and/or recommend alternative strategies for achieving portfolio goals
• Outstanding analytical skills and attention to detail
• Experience in empirical research
• Keen interest in developing and using technology to support investment decisions
• Advanced written and verbal communication abilities, including the ability to present effectively and clearly
• Demonstrates a strong commitment to AIMCo's core values of excellence, transparency, humility, integrity and collaboration, and inspiring the same in others

Success Measures

Collaboration and teamwork are key to the success of our investment team. A successful candidate will be able to demonstrate the ability to work independently, but also collaborate with other team members as will often be required. Performance will be measured based upon your contribution to above benchmark returns, adherence to investment guidelines, ability to help drive Total Fund Performance and finding solutions for internal and external clients.

Final candidates will be asked to undergo a security screening, which includes a credit bureau and a criminal record investigation, the results of which must be acceptable to AIMCo.

At AIMCo, we draw upon the differences in who we are, where we come from and the way we think to deliver results for the Albertans who rely on us. We offer an inclusive, modern workplace where well-being is prioritized, and colleagues are enabled to do their best work. Our team members are motivated by our purpose and committed to creating long-term value for our clients and their beneficiaries.