Associate Portfolio Manager or Director Investment Research
Mackenzie Investments was founded in 1967 and is a leading investment management firm providing investment advisory and related services to retail and institutional clients. The company has $197.6 billion in assets under management, and as part of IGM (a subsidiary of the Power Financial Group of Companies), is the largest independent asset manager in Canada. We are committed to the financial success of investors, through their eyes.
Everything we do starts with the needs of investors, whether they are saving for a child’s postsecondary education, setting money aside for the future needs of a family member with a disability, or funding their own retirement. In fact, our focus is summed up in our Vision statement: We are committed to the financial success of investors, through their eyes.
Our growth and success are the direct result of our employees, and we strive to create a workplace supported by the following core values: Creativity and Innovation, Strong Decision Making, Collaboration, Courage, Honesty and Integrity, Confidence and Pride.
At Mackenzie Investments you can Build Your Career with Confidence by:
Changing the Game: We have a vision and a strategy that will challenge the way business in this industry is done and help Canadians be successful in the ways that mean the most to them.
Making a Smarter World: We believe in continuous learning, understanding what is most important and sharing the benefits of that knowledge.
Being Proud: As a part of our team you will do some of your best work, develop some of your most valuable skills and give back in ways that make a difference in the lives of Canadians.
Joining an Unstoppable Team: We build teams that look out for each other, ask the best of each other and deliver the finest work.
Learning and Growing: We offer an environment where you can indulge your curiosity to learn; getting the challenges and feedback you need to refine your skills and abilities.
Thriving in a Supportive Environment: We have created a workplace where your efforts and career are supported by your team and your leader
The Mackenzie Fixed Income Team is currently accepting applications for the full-time position of Associate Portfolio Manager or Director Investment Research, depending on the level of experience. The role is based in Toronto and will be reporting directly into the Senior Vice President, Head of Credit. As part of the Credit Team, the successful candidate will have a primary focus on the global high yield bond and leveraged loan markets, and a secondary focus on related markets such as; investment grade bonds, private placements, and preferred shares.
The individual will contribute to the success of our diverse group of fixed income mandates through; idea generation, position monitoring, portfolio construction and monitoring, and special projects that may arise to support the portfolio management process. Responsibilities will run across the spectrum of the investment management process, from security selection through to sector and asset allocation, including:
- Act as a sector specialist and develop an expertise in an assigned group of sectors, proactively identifying strengths, weaknesses, opportunities, and threats.
- Fundamental coverage of the assigned sectors in the global leveraged credit markets to assess broad industry trends and market dynamics with a view towards generating investment ideas and monitoring existing positions.
- Perform comprehensive bottom-up due diligence on issuers, including developing detailed financial models to assess creditworthiness, conducting meetings with management teams, and analyzing relative value.
- Analyze covenants and capital structures to determine the optimal capital structure positioning and maximize risk-adjusted returns.
- Make buy/sell/hold recommendations on individual securities and collaborate with the broader team to implement recommendations into our portfolios.
- Providing timely updates and research opinions to senior members of the team on financial results and developing credit situations.
- Establish and build relationships with sell-side contacts and other market participants such as rating agency analysts to develop market insights and color.
- Conduct ESG analysis for all current and prospective investments to determine suitability for various sustainability funds, as well as engagement with companies on material ESG issues in an effort to help improve their ESG performance over time.
- Participate in a team-oriented structure, working daily with Traders, Portfolio Managers, Analysts and Investment Directors
- Participation in regular team meetings related to individual credits, sector views, relative value, and portfolio management.
- Maintain risk reports for the leveraged credit mandates with a high degree of accuracy to assist the lead portfolio manager in portfolio surveillance and reporting.
- Monitor and advise the lead PM of leveraged credit mandates regarding optimal positioning between emulated mandates to reduce tracking error.
- Collaborate with the lead PM of leveraged credit mandates to assist with portfolio level decisions related to sector exposures, security positioning, risk management, portfolio emulation, and liquidity.
- Continuous engagement with senior portfolio managers for mentoring and ongoing career development towards advancement opportunities.
The following qualifications will assist the successful candidate:
- Minimum of 5 years of experience in the financial services industry with a focus on the leveraged credit markets.
- Solid knowledge of, and demonstrated experience with, fundamental credit analysis as it related to fixed income securities.
- Understanding of the global fixed income markets and the key market drivers and risk factors.
- High attention to detail, accuracy, and ability to prioritize workflow are key to this role
- Ability to articulate complex investment theses both verbally and in writing.
- Strong computer skills – Microsoft Excel, Word, Outlook, PowerPoint, and Bloomberg.
- Completion or enrollment in the CFA program or other advanced degree.
If you are interested in applying for this position please direct applications on-line using the “apply for this job” icon located at the bottom or to the left of the posting. If you would like to refer someone for the position please email the posting using the “email this job” option and have your referral indicate that they were referred by you when completing the application. All resumes should be received by June 26th, 2021. If you have any questions regarding this position, please contact Human Resources. Please record your extension number on your resume and cover letter.
We thank all applicants for their interest in Mackenzie Investments; however only those candidates selected for an interview will be contacted.
Mackenzie Investments is an equal opportunity employer and is committed to providing employment accommodations in accordance with the Ontario Human Rights Code and the Accessibility of Ontarians with Disabilities Act. Please advise Human Resources if you require an accommodation.
File # 21-1254