Associate/Manager, Investment Risk, Public Markets Portfolio

The successful candidate will support the independent risk assessment and management framework for CPP Investments’ Public Markets Portfolio.  As a member of the Investment Risk group, the Associate/Manager, Investment Risk will help drive the identification, assessment and monitoring of all investment risks associated with investments within our Capital Markets & Factor Investing (CMF) business and contribute to our risk management and oversight processes.   This role will have multi-dimensional responsibility for risk assessment and management associated with CPP Investments’ Public Market investments, with a focus on capital markets products spanning Equities, Interest Rates, Currencies, Credit and includes both linear and non-linear derivative products.  Primary responsibilities include:

• Actively monitors select CMF Portfolios to identify changing risk profiles and monitor the financial markets for significant events that may impact the risk profile of the investments.
• Assist in the preparation of independent risk assessments on Public Market strategies and provide unique quantitative as well as qualitative insights to the Business as well as Management.
• Perform Risk Due Diligence as part of External Manager onboarding focusing on Investment Risk governance and opining and challenging effectiveness.  Process will inform a Manager rating used for risk oversight. Additionally, the individual will use this work to risk assess modelling adjustments, ensure appropriate estimation of the risk is included within the RiskMetrics and internal risk systems.
• Ongoing oversight of the External Manager program including providing insights on risk profile changes on a daily, monthly, and quarterly frequency.  As part of this oversight, the incumbent will also participate in quarterly updates alongside the Business.
• Support continued development of portfolio-level analytics, including the identification and monitoring of key risk indicators for the various CMF strategies, working collaboratively across the Risk Department, CMF, TFM and other stakeholders.
• Monitor the risk profile through a combination of measures and monitoring procedures:
  • Leads the analysis of emerging risks, advises the quantitative analysis group on model specification where appropriate.
  • Develops and monitors stress and scenario tests relevant to the risk profile of CMF and at the desk level with significant consideration given to economic and geopolitical events.
  • Prepares detailed analysis of current and proposed market, traded credit and liquidity risks within an investment department portfolio to senior management, and to relevant Investment Committees.

Key Relationships:

• Members of the Capital Markets & Factor Investing team across all levels.  Works closely with the Capital Markets & Factor Investing team through daily risk monitoring and presenting detailed risk analysis regularly.
• External Portfolio Management, Operational Due Diligence, and other stakeholders to onboard investments in new external hedge fund managers and assess their level of market, credit, and liquidity risk controls relative to the type of investment strategies employed.
• Senior management - Integrate Investment Risk early into the investment/transaction decision process, identifying risk management concerns and enable appropriate risk measurement Presents risk analysis to senior management, working groups and committees, respond to risk inquiries.
• Core Risk teams (quantitative analysis, credit risk, policy, and risk measurement & reporting) regarding risk issues arising from CMF investments (covering diverse elements such as counterparty credit, transaction bookings, model vetting, inclusion of CMF risk in departmental reporting
• Total Fund Management team to develop and execute risk policies in support of CPP Investments’ investment strategy, whether that be Strategic Alternatives selection, departmental reviews.
• ID Committees, attending and contributing to both verbal and written form as they present portfolio updates, new strategies, key risks etc.

Competencies:

• Confident, articulate, and strong risk manager who can engage with world class external managers and is comfortable performing effective challenge on their risk governance framework.
• Experience in capital markets, trading strategies, transaction analysis, and risk management best practices to identify gaps and to safeguard CPP assets from undue risk of loss.
• Technical and quantitative expertise to understands and analyze complex and sophisticated investment strategies, challenging investment thesis and risk/reward assumptions and contributing to solutions that mitigate undesired risks.
• Leader, for the analysis of existing and emerging risks using strong quantitative analysis to do so.  Will work closely with ID and Risk modelling teams on development or review of existing statistical methods.
• Communication: Superior writing skills, ability to draft concise, impactful documents that bridge risk concepts and fundamentals and verbally articulate risks clearly for senior audiences; clear, logical presenter.
• Relationship Builder: Builds and leverages strong relationships and partnerships within the group and across CPP Investments to support recommendations and make decisions.
• Inclusiveness: Welcomes and acknowledges the inputs and views of others, demonstrates that multiple viewpoints have been incorporated.

• Strong business acumen with sense of judgement, seeks and incorporates diverse perspectives in making recommendations to implement and enhance risk processes that are relevant to own area as well as broader organization.
• Pursues excellence in execution by setting high standards for personal performance.

Education and Experience:

• Undergraduate or graduate degree in engineering, physics, economics, or mathematics preferred.  Candidate should have a strong quantitative background.
• CFA designation would be beneficial combined with significant investment management experience at a financial institution.
• A minimum of 5-10 years’ relevant professional experience in public market investments, across bank hedge or pension fund from either a risk oversight or front-line risk management role.
• Comfort working with quantitative approaches to measure public markets risk.
• Experience with factor modeling such as Barra One would be beneficial.

• Significant experience with derivative transactions in equities, fixed income, corporate credit, foreign exchange, and highly structured transactions.
• Ability to assess internal controls and identify operational risk gaps in investment activities.
• Ability to apply advanced business development logic to complex business issues and contribute to the development of new ideas and methods.

Other Interpersonal Skills and Capabilities:

• Demonstrated strong interpersonal skills with the ability to work effectively with senior management, team members and other internal/external colleagues.
• Proven influencing, negotiating and persuasive skills.
• Must be flexible, adaptable and take initiative.
• Sound judgment, decisive with an ability to prioritize competing demands.
• Professional team player who thrives in a dynamic environment applying a One Fund mindset to collaboration across the Fund.
• Logical, analytical, and practical problem solver
• Exemplifies our Guiding Principles of integrity, high performance, and partnership.

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At CPP Investments, we are committed to diversity and equitable access to employment opportunities based on ability.

We thank all applicants for their interest but will only contact candidates selected to advance in the hiring process. 

Our Commitment to Inclusion and Diversity:

In addition to being dedicated to building a workforce that reflects diverse talent, we are committed to fostering an inclusive and accessible experience. If you require an accommodation for any part of the recruitment process (including alternate formats of materials, accessible meeting rooms, etc.), please let us know and we will work with you to meet your needs.

Disclaimer:

CPP Investments does not accept resumes from employment placement agencies, head-hunters or recruitment suppliers that are not in a formal contractual arrangement with us. Our recruitment supplier arrangements are restricted to specific hiring needs and do not include this or other web-site job postings. Any resume or other information received from a supplier not approved by CPP Investments to provide resumes to this posting or web-site will be considered unsolicited and will not be considered.  CPP Investments will not pay any referral, placement or other fee for the supply of such unsolicited resumes or information.