Portfolio Manager,External Managers – Alternatives Job Toronto area,Ontario Canada,Finance & Banking

Job Description

What is the opportunity?

We are seeking an experienced Portfolio Manager to support the management of relationships with external fund managers and alternative investment partners. This role involves portfolio analysis, performance monitoring, due diligence, and strategic engagement with third-party managers across alternative asset classes. The Portfolio Manager will work collaboratively with the Director, External Managers - Alternatives and broader investment team to support portfolio construction and optimize manager relationships.

What will you do?

Manager Oversight & Performance

Monitor and evaluate external alternative managers against agreed benchmarks and KPIs

Conduct performance analysis and provide insights on manager performance trends

Support manager contract management, fee negotiations, and commercial discussions

Identify and escalate performance concerns to the Director, External Managers - Alternatives

Prepare materials for manager review meetings and strategy sessions

Portfolio Management – General Alternatives

Support development and maintenance of diversified portfolio of alternative investments (Private Debt, Infrastructure, Private Equity, Real Estate, Structured Products, etc.)

Conduct due diligence on prospective managers and investment opportunities

Prepare due diligence reports and recommendations for manager selection and retention decisions

Monitor portfolio alignment with RBC Insurance investment objectives

Track and analyze portfolio composition, positioning, and exposures

Strategic Investment Support

Perform research and evaluation of new asset classes and investment strategies

Support development of portfolio guidelines, performance measurements, and reporting frameworks

Build expertise in insurance-linked securities, strategies, and investment vehicles

Stay current with insurance industry trends, regulatory changes, and market developments

Contribute to strategic investment initiatives and thought leadership

Cross-Functional Collaboration

Build and maintain strong relationships with actuarial, finance, risk, and business teams

Partner with external managers and advisors on portfolio analysis and optimization

Support external counsel on legal contract review and negotiation

Facilitate communication between investment and operational teams

Contribute to cross-functional working groups and initiatives

Investment Accounting & Financial Reporting

Support insurance investment accounting and financial reporting processes

Analyze investment results, valuation approaches, and investment performance

Contribute to accurate and timely financial reporting to stakeholders and regulators

Ensure portfolio data and reporting align with accounting standards and insurance regulatory requirements

Relationship Management

Support primary contact relationship with key external managers

Assist in scheduling and preparing for manager meetings, reviews, and strategy sessions

Foster collaborative relationships with managers and external advisors

Maintain clear communication of portfolio updates and expectations

Develop knowledge of insurance brokers and industry specialists

Risk & Compliance

Monitor external managers for compliance with regulatory requirements and RBC policies

Track and report on liquidity, leverage, and concentration risks

Support risk reporting and audit trail maintenance

Escalate compliance concerns to the Director promptly

Reporting & Analytics

Support generation of performance reports and investment dashboards

Analyze manager attribution and contribution to portfolio returns

Prepare analysis on portfolio-specific metrics and risk factors

Support ad hoc analysis and reporting requests

What do you need to succeed?

Must-have

5+ years in investment management or alternatives experience

Minimum 2 years in external manager oversight or portfolio management roles

Strong knowledge of alternative asset classes (Private Debt, Infrastructure, Private Equity, Real Estate, Structured Products, etc.)

Excellent analytical and quantitative skills

Strong relationship management and communication skills

Proficiency with financial analysis tools and investment analytics platforms

Educational Requirements and…

Portfolio Manager, External Managers – Alternatives