Job DescriptionWhat 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 Accreditations
- Professional investment or risk designation (e.g., CFA, FRM, CAIA) or equivalent institutional investment experience required
- Additional actuarial credentials (e.g., FSA or ASA) are considered an asset
Nice-to-have- Background in insurance or insurance investment management
- Experience with alternative manager due diligence frameworks and processes
- Knowledge of insurance investment accounting and regulatory reporting
- Experience with private markets or illiquid alternative assets
- Familiarity with investment documentation and legal contracts
Job SkillsDerivatives, Investment Consulting, Investment Performance Measurement, Investment Risk Management, Investments, Investments Analysis, Long Term Planning, Portfolio Management, Product Services, Risk Control
Additional Job DetailsAddress:RBC CENTRE, 155 WELLINGTON ST W:TORONTO
City:Toronto
Country:Canada
Work hours/week:37.5
Employment Type:Full time
Platform:INSURANCE
Job Type:Regular
Pay Type:Salaried
Posted Date:2026-05-29
Application Deadline:2026-06-12
Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
Compensation for this position (including salary and discretionary/variable payments) will be determined by factors, including but not limited to candidate's experience, skills, registration status, performance, individual goals, market conditions, and business needs.
Pay RangeThe expected pay range for this position is:
$90,000.00 - $140,000.00
The pay range provided is for the primary work location referenced in the Additional Job Details section of this job posting. Pay ranges may differ based on location. If the posting lists multiple job locations, a recruiter can confirm availability of the role and the relevant pay rage for the additional locations listed. RBC supports pay transparency and we strive to ensure all pay ranges are competitive, fair, and equitable.
You have the potential to earn RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided that business meets its performance targets and you meet your individual goals.
