Senior Analyst / Associate, Global Alpha, Fundamental Research Platform

PSP Investments | Investissements PSP; Montreal (administrative region); Hybrid; CAD 95,000 - 150,000; Full time

Benefits offered by this job

Hybrid work model

Career development support

Group insurance plans

Competitive pension plans

Wellness programs

Job summary

PSP Investments seeks a Senior Analyst / Associate on the Financials team within the Fundamental Research Platform. The role focuses on owning a defined coverage universe, developing differentiated investment views, and translating research into actionable portfolio decisions for PSP’s internally managed active equities mandates.

This is a rigorous research position emphasizing independent judgment and data-driven insights.

Qualifications

• 5–10 years of rigorous fundamental work in buy-side research, sell-side equity research, investment banking, or fund management.
• Strong fundamental and financial-analysis skills with advanced modeling and valuation.
• Comprehensive understanding of financial statement accounting and meticulous attention to detail.
• Proficiency with Excel, Bloomberg, Capital IQ or FactSet.
• Familiarity with Python or similar language is an asset.
• Ability to synthesize large volumes of information into a clear, persuasive view, in writing and discussion.
• Bilingual English and French.

Responsibilities

• Own coverage: manage a defined slice of the financials universe with models and metrics.
• Build and test investment theses; present bull and bear cases to the team.
• Translate research into portfolio-relevant conclusions for holdings.
• Conduct primary research: leverage networks, attend meetings, and report insights.
• Make recommendations: propose stock actions and monitor thesis against results.
• Assess risk: valuation, expectations, factor exposure, and downside scenarios.
• Support wider platform: share sector insights with other teams.
• Improve processes: help automate repetitive research tasks and interfacing with data/portfolio ops.

Skills

Financial modeling

Valuation

Communication

Independent judgment

Bilingual English/French

Curiosity

Team collaboration

Python

Education

Undergraduate degree in a relevant field

Graduate degree welcome but not required

CFA designation (progress)

Tools

Bloomberg

Capital IQ

FactSet

Python

Job description

About Us

We’re one of Canada’s largest pension investors, with CAD$320.6 billion of net assets as of March 31, 2026. We invest funds for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. Capturing and leading complex global investments requires us to work as one to seize valuable opportunities, in close collaboration with some of the world’s top companies. At PSP Investments, you’ll join a team of motivated and engaged professionals, dedicated to propelling our organization further than ever before.

About The Team

The Fundamental Research Platform is a team of sector specialists providing deep, bottom‑up research across the global markets in which PSP invests. Our primary role is to support PSP’s internally managed active equities strategies. You will sit within the Financials sector team, report to the sector lead, and partner directly with portfolio managers across PSP’s active equities mandates. The sector team owns coverage depth; the portfolio managers own portfolio construction. The best ideas come from the interaction between the two: deep sector knowledge held against a portfolio‑wide view of risk, opportunity, valuation, and conviction. Initial coverage will be set based on team needs and the candidate’s background, but may include banks, insurers, asset managers, brokers, and other financial services companies across global markets.

About Your Role

We are looking for someone who wants to understand how financial sector companies create economic value — and has the rigour to identify when the market is over‑estimating or under‑estimating that value. As a Senior Analyst / Associate on PSP’s Financials team within the Fundamental Research Platform, you will own a defined coverage universe, develop differentiated investment views, and work with portfolio managers to translate research into portfolio decisions across PSP’s internally managed active equities mandates. This is a research role, not a support role. You will be expected to build real coverage depth, form independent views, and contribute directly to investment decisions. The fundamentals — filings, models, industry calls, valuation — are table stakes. The job is to go further: to identify what matters, test it rigorously, and develop insight the market has not yet priced. We expect analysts to be fluent with large language models and modern AI research tools, and to use them regularly — within PSP’s governance and confidentiality standards — to interrogate filings and transcripts, reconcile data, accelerate model scaffolding, and synthesize research in hours rather than days.

What matters most is judgment: knowing where these tools help, where they fail, and how to verify the work before it influences an investment decision. We are looking for someone who can use AI to move faster without becoming less rigorous.

You’ll:

• Own coverage: take responsibility for a defined slice of the financials universe — building and maintaining models, tracking operating metrics, and knowing companies well enough to anticipate key debates before results are released.
• Build the case, then test it: develop investment theses and bring both bull and bear cases to the team. We care less about being right on the first pass than about pressure‑testing assumptions until what remains is durable.
• Translate research into portfolio‑relevant conclusions: be clear about what your work implies in terms of holdings and why now.
• Conduct primary research: build and use a network of sell‑side analysts, industry consultants, experts, and company contacts, run channel checks, attend management meetings and conferences, and report unique insights.
• Make recommendations: bring stock actions to portfolio managers as risk/reward shifts and monitor names underwritten against their thesis, flagging when the story starts to break before the price does.
• Understand risk: assess valuation, expectations, positioning, factor exposure, disruption, cyclicality, capital allocation, and downside scenarios — and be clear about what would change your mind.
• Support the wider platform: lend your sector perspective to alternative and private‑market teams when evaluating financial sector businesses.
• Improve how the team works: help automate repetitive parts of the research process and serve as a bridge to our data, analytics, and portfolio operations colleagues.

Regular travel to conferences and company meetings is required.

What You’ll Need

• Typically, five (5) to ten (10) years in a role involving rigorous fundamental work — buy‑side research, sell‑side equity research, investment banking, or fund management. A track record covering the financial sector is an advantage.
• Strong fundamental and financial‑analysis skills, with advanced financial modeling and valuation. Build a defensible model from scratch.
• Comprehensive understanding of financial statement accounting and relentless attention to detail.
• Proficiency with Excel, Bloomberg, and a financial‑data platform (Capital IQ, FactSet, or similar).
• Comfort building lightweight automations or workflows to make research faster; familiarity with Python or a similar language is an asset, not a requirement.
• Ability to synthesize large volumes of information into a clear, honest, and persuasive view — in writing and in person — for an audience that will challenge it.
• Sound judgment and self‑awareness to separate conviction from overconfidence.
• Independence to form your own view and discipline to follow a shared process.
• Initiative and genuine curiosity — insight to look past surface facts and understand driving value.
• Collaborative disposition; high‑performance team that coaches rather than competes internally.
• Composure to work under pressure and meet tight deadlines without drop in quality.
• An undergraduate degree in a relevant field; a graduate degree is welcome but not required.
• Progress toward the CFA designation is an asset.
• Bilingualism: English and French.

Benefits

• Investment in career development.
• Comprehensive group insurance plans.
• Competitive pension plans.
• Unlimited access to virtual healthcare services and wellness programs.
• Gender‑inclusive paid family leave policy: up to 26 weeks for primary caregivers, 5 weeks for secondary caregivers.
• Personalized family‑building support, from pre‑pregnancy to menopause, with available financial assistance.
• Vacation days available on day one, additional days on milestone service anniversaries, and summer Friday afternoons off.
• Hybrid work model with a mix of in‑office and remote days.
• Benefits package may vary based on employee type.

At PSP Investments, we aim to provide a workplace where everyone feels valued, safe, respected and empowered to grow. As part of this leadership commitment, we strongly encourage applications from all qualified applicants and strive to offer an inclusive and accessible candidate experience. If you require any accommodation for any part of the recruitment process, please let us know.