Portfolio Manager

We are seeking a full-time permanent Portfolio Manager to join our Investment Management team.The Portfolio Manager will be a key contributor to RPIA’s Investment Management team, with a focus on High-Quality Liquid Assets (HQLA), macro-oriented portfolio construction, and liquid fixed‑income strategies. In this role, you will be responsible for actively managing and trading portfolios across government and spread sectors including U.S. Treasuries, provincials, agencies, investment‑grade corporates, mortgage-backed securities (MBS), and other high‑quality securitized products. The successful candidate will contribute to top‑down macro positioning through analysis of global economic trends, central bank policy, interest rates, inflation dynamics, and cross‑market relative value opportunities.You will work closely with research, trading, quantitative, and risk teams to develop macro views, identify attractive risk‑adjusted opportunities, and implement portfolio strategies across both primary and secondary markets. The role requires strong fixed‑income expertise, market judgment, and an ability to navigate evolving liquidity and credit conditions across global rates and spread products.The duties and responsibilities of the Portfolio Manager include, but are not limited to:Managing and trading liquid fixed‑income portfolios across government, provincial, agency, MBS, securitized, and investment‑grade credit marketsDeveloping and expressing macroeconomic and market views related to interest rates, yield curves, inflation, monetary policy, and global growth trendsMonitoring primary issuance and secondary market opportunities across high‑quality liquid asset sectorsIdentifying relative value opportunities across rates, credit, and securitized productsContributing to portfolio construction, duration positioning, curve strategies, and liquidity management discussionsConducting technical and fundamental analysis on market segments, sectors, and targeted investment opportunitiesCollaborating with the research team to incorporate robust macro, credit, and quantitative analysis into investment decisionsEngaging with issuers, dealers, syndicate desks, sales, trading, and external research providers to monitor market developments and execute trades effectivelyManaging trade flow and ensuring efficient portfolio implementation and risk managementWorking closely with execution, research, structuring, and quantitative portfolio management teams to optimize portfolio outcomesCritical Competencies
Technical Knowledge – Demonstrates deep understanding of global fixed‑income markets including rates, HQLA, provincials, MBS, securitized products, and investment‑grade creditMacro Perspective – Strong ability to interpret economic data, central bank policy, geopolitical developments, and market technicals to inform investment positioningOperational Excellence – Maintains strong knowledge of ethical standards, due diligence, risk management, and portfolio controls while upholding RPIA’s service standardsPersistence & Motivation – Self‑starter with strong analytical capabilities and the ability to execute investment ideas decisively in dynamic market environmentsIntegrity – Professional, collaborative, and accountable individual who understands the importance of confidentiality and contributes positively to RPIA’s reputation and cultureRequirements
Experience managing and trading liquid fixed‑income products including government bonds, provincials, MBS, securitized products, and investment‑grade creditStrong understanding of macroeconomics, monetary policy, rates markets, and fixed‑income relative value strategiesExisting relationships with dealer trading and syndication desks considered an assetRelevant portfolio management or trading experience within institutional fixed income marketsGraduation from a post‑secondary institutionCFA designation, CIM, or other minimum criteria for registration with Canadian securities regulators requiredExperience in credit research, macro strategy, rates trading, or investment banking considered an assetStrong quantitative, analytical, and communication skillsAdditional Information
Position Type: Full‑Time PermanentWork Location: TorontoTo learn more about life at RPIA, visit our firm’s magazine, Voices of RPIA: is to fill an open vacancyArtificial Intelligence may be used as part of this recruitment initiativeCompensation Range: $150,000 – $175,000 base salary, additional compensation may be availableRPIA is proud to be Great Place to Work Certified™. What sets us apart?
Exceptional single and family benefits package that includes health, dental, and vision insurance plus additional Health Care Spending and Wellness credits.InConfidence (provided by Medavie Blue Cross via Inkblot) Employee and Family Assistance Program to support mental well‑being and extends to all family members in your household.Opportunities for professional and personal growth through:Cross‑functional Mentorship ProgramInternally curated Leadership Skills training programRPIA is an Equal Opportunity Employer
We believe in the power of diversity of thought, and we aspire to have an inclusive workplace thatmirrors the fabric of our community. We strongly encourage applicationsregardless of race, religion,colour, national origin, gender, sexual orientation, age, marital status, ordisability status. We arecommitted to providing an accessible and equitable application and hiringprocess and will make accommodations should you require it at any point. Weencourage you to connect with us at View email address on ca.hrm.tc if you require accommodationduring the recruitment process.Our culture is defined by our six core values: Client-First, Innovation, Excellence, Partnership, Integrity, and Giving back.
Our clients often say the outstanding service we deliver is as important to them as the returns we achieve for them. With over 135 employees and approximately $21 billion in assets under management for a broad investor base of institutions and private clients, we proudly remain privately owned by employees who invest alongside our clients.
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