Senior Manager, Pension Investments

Work Location:

Toronto, Ontario, Canada

Hours:

37.5 Line of Business: TD General Pay Details: $115,600 - $163,200 CAD TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience  compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role.

The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs. As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

The Senior Manager, Pension Investments is responsible for selecting, underwriting, implementing, and monitoring external investment managers for TD's pension portfolios. The role combines investment expertise, total portfolio thinking, governance discipline, and stakeholder management to support strong long-term outcomes while balancing risk, liquidity, cost, and operational considerations.

• manager research and due diligence
• mandate monitoring
• portfolio analysis
• providing investment recommendations to senior management and governance committees

Lead due diligence on external managers across public and private markets, assessing investment process, team, portfolio construction, risk management, operational capabilities, fees, and organizational stability. Evaluate manager fit within total portfolio objectives, including expected return, risk, liquidity, diversification, governance, and implementation considerations. Lead manager searches, RFI/RFP processes, interviews, reference checks, and implementation planning. Monitor existing mandates, including performance, risk exposures, organizational developments, compliance, staffing changes, and mandate adherence.

Identify issues and recommend appropriate actions, including enhanced monitoring, mandate modifications, fee reviews, rebalancing, or manager replacement. Maintain due diligence records, monitoring documentation, and governance materials consistent with policy and control requirements.

Assess how managers, strategies, and asset classes contribute to total portfolio outcomes, including return, risk, liquidity, diversification, cost, and resilience. Evaluate implementation trade-offs across active/passive, public/private, internal/external, and single/multi-manager structures. Research new investment strategies, asset classes, and portfolio structures. Develop clear, evidence-based recommendations that highlight benefits, risks, implementation considerations, and key decision points.

Prepare concise investment recommendations, monitoring reports, and committee materials for senior management and governance forums. Build trusted relationships with internal stakeholders, consultants, advisors, and investment managers. Influence decisions through sound investment judgment and balanced consideration of risk, governance, operational, and cost factors. Mentor junior team members and contribute to a culture of accountability, continuous improvement, and investment excellence.

• Public equities
• Fixed income and credit
• Private credit and structured credit
• Real estate and infrastructure
• Private equity
• Hedge funds and liquid alternatives

Strong understanding of how individual asset classes contribute to overall pension portfolio objectives is required.

Graduate degree in Finance, Economics, Business, Engineering, Mathematics, or related field, or equivalent experience. CFA, CAIA, FSA, or similar professional designation preferred.

10+ years of institutional investment experience in pension investing, manager research, consulting, portfolio management, asset allocation, risk management, or related fields. Demonstrated experience evaluating investment managers and strategies across public and/or private markets. Strong understanding of defined benefit pension plans, including governance, funding, liquidity, risk, and stakeholder considerations. Experience preparing investment recommendations, monitoring reports, and committee-ready materials for senior audiences.

• Strong investment judgment and ability to assess manager skill, risk, and implementation quality.
• Ability to connect asset-class decisions to total portfolio outcomes.
• Excellent analytical, problem-solving, and project management skills.
• Strong due diligence mindset, intellectual curiosity, and ability to challenge assumptions.
• Clear and concise communication skills, with the ability to translate complex investment topics into actionable…