Grade: D10 and above Referral Level: Level 1 Division: MI Investments Fixed Income & MAS IGM Financial Inc. is a leading wealth and asset management company in Canada, managing approximately$310billionin assetsas of December 31, 2025. It offers financial planning and investment services to over two million Canadians through IG Wealth Management and Mackenzie Investments.

Mackenzie

Investments, founded in 1967, is a key part of IGM's business model, serving as a comprehensive asset-management partner for Canadian financial advisors and their clients.

At Mackenzie Investments You Can Build

Your Career with Confidence. We are proud to be recognized as one of Canada’s Top 100 Employers for the fourth consecutive yearand one of Canada’s Best Diversity Employers. Our vision and strategy aim to innovate the industry and support Canadians in achieving their financial goals.

Join our team to engage in continuous learning and skill development in a supportive environment.Experience the best of both worlds with our hybrid work environment, where you spend three days a week in the office, connecting, collaborating, and enjoying quality time with your amazing colleagues!Our Values: Be better;we strive for improvement in everything we do.Be accountable;we foster clarity and are empowered to act responsibly.Be a team;we are united to drive collective impact to achieve our goals.

Position The role is based in Montreal. Reporting to the Head of Macro within the Fixed Income team, the Assistant Vice President / Vice President, Fixed Income Markets Research will be a senior investment research professional focused on originating differentiated, actionable ideas across global rates, sovereign credit, and foreign exchange. The role will contribute primarily to theearly stagesof the investment process byidentifyingunderappreciated themes and market dislocations,developingand testing investment hypotheses, and translating research into clearly specified recommendations for portfolio managers.

This is a research-led role, but the successful candidate will also hold the required portfoliomanagerregistration to implement and execute approved trades promptly within delegated authority and risk limits. AI adoption is a core strategic priority for the team and a substantive part of this mandate: the successful candidate will help modernize how the team discovers, tests, documents, and monitors investment ideas. The appointment will be made at the Assistant Vice President or Vice President level based on experience, sustained evidence of idea generation, investment judgment, AI fluency, and expected leadership scope.

At the Vice President level, the successful candidate will also be expected to contribute to the team's research and AI-adoption priorities, supporthigh standards of evidence and debate, and contribute meaningfully to portfolio decisions across the platform. The successful candidate will contribute to a repeatable pipeline of high-conviction ideas, with primary emphasis on G10 rates - including directional, curve, inflation, and cross-market opportunities - and complementary coverage of sovereign credit, emerging-market rates, and G10 and EM currencies. Research should integrate macroeconomic and policy analysis with valuation, market-implied expectations, positioning and flows, technicals, systematic signals, and scenario analysis.

Each recommendation should articulate the differentiated view, catalyst, time horizon, expected return, preferred trade expression, key risks, and conditions that would invalidatethe thesis. Success will be measured by the originality, quality, and portfolio relevance of the ideas generated, the discipline of the research process, the contribution of recommendations to investment outcomes, and measurable improvement in the team's AI-enabled research process. Ideal candidates combine deep macro judgment with quantitative discipline, intellectual independence, and a strong instinct foridentifyingwhat the market may be mispricing.

They are comfortable challenging consensus, seeking disconfirming evidence, and refining views asnew informationarrives.

They alsodemonstratestrong practical interest in AI: curiosity about emerging capabilities, willingness to test them, and discipline in incorporating useful tools into repeatable workflows. The role does not require a pure machine-learning engineering background, but it does require an investor who can use coding, data, automation,



and AI as force multipliers while rigorously validating outputs andretainingclear human accountability for investment decisions. The strongest candidates will have a demonstrable record of originating investment ideas and explaining how those ideas were researched, expressed,monitored, and reviewed.

At the Vice President level, candidates shoulddemonstratea sustained record of influencing portfolio decisions,strengtheningthe research process, and contributing to the adoption of new analytical and AI-enabled capabilities. They will collaborate closely with portfolio managers, traders, research analysts, quants, technology partners, and client-facing colleagues whileretainingclear ownership of the research thesis.

Key responsibilities

- Contribute to the team's trade-idea pipeline by continuouslyidentifyingmacro themes, policy shifts, valuation anomalies, and market dislocations across global rates, sovereign credit, and FX, with primary emphasis on G10 rates.
- Develop differentiated investment hypotheses by combining fundamental macro and policy research with market-implied expectations, relative value, carry and roll, positioning and flows, technical indicators, cross-asset information, and systematic signals.
- Translate research into decision-ready recommendations that specify the variant view, catalyst, horizon, preferred and alternative trade expressions, entry parameters, target, expected return, downside, liquidity considerations, and clear thesis-invalidation conditions.
- Partner with portfolio managers and traders on trade construction and riskimplications, andimplement approved trades promptly within delegated authority and risk limits. Lead portfolio managersretainfinal accountability for portfolio construction, position sizing, and risk allocation.
- Monitor active and watch-list ideas, update conviction asevidencechanges, and recommend whether toinitiate, add, reduce, exit, or re-express a view. Maintain an auditable idealogand conduct post-mortems on implemented and non-implemented ideas to distinguish thesis quality, timing, and implementation and to improve the research process.
- Support disciplined standards for AI-enabled investment research, including source traceability, reproducibility, structured evaluation, human review, privacy and confidentiality, and controls for hallucination, data leakage, bias, and model deterioration. Document and share reusableworkflows, andhelp colleagues use AI in ways that improve research breadth, speed, quality, and institutional memory.
- Contribute to investment debate, written research, and thought leadership, and selectively present the team's macro views in internal, due-diligence, institutional, and client settings in French and English.
- Travel within Quebec may berequired.

Qualifications - Master's degree in Finance, Economics, Statistics, Computer Science, Engineering, ora related field.

- CFA designation, ordemonstratedprogress toward the CFA, is considered an asset.
- Atleast seven years of relevant experience in global macro or fixed income research, rates or FX strategy, sovereign research, systematic macro, multi-asset investing, or related top-down investment roles at asset managers, hedge funds, pension plans, banks, or research platforms.
- The applicable portfoliomanagerregistration, or eligibility to obtain it promptly, isrequired.
- Typicallyseven or more years of relevant experience in global macro or fixed income research, rates or FX strategy, sovereign research, systematic macro, multi-asset investing, or a related top-down investment role. The appointment will be made at the Assistant Vice President or Vice President level based ontrack record, investment judgment, influence on portfolio decisions, and expected leadership scope.
- Demonstrated record of originating differentiated investment ideas and a repeatable process for moving from question to hypothesis, evidence, recommendation, monitoring, and post-mortem. Candidates should be able to discuss examples while respecting prior-employer confidentiality.
- Deep knowledge of monetary and fiscal policy, inflation, growth, term premia, yield curves,



sovereign risk, FX, cross-market valuation, derivatives, and market microstructure.
- Strong quantitative and data fluency, including the ability to test hypotheses, assess signal robustness, and avoid overfitting and look-ahead bias.Proficiencywith Python and SQL is strongly preferred; familiarity with R, APIs, dashboards, and modern data pipelines is an asset.
- Demonstrated hands-on use of generative AI, large language models, natural-language processing, automation, or machine learning in an investment or research context, or compelling evidence of exceptional curiosity and rapid self-directed adoption. Candidates should be able to describe workflows they have built or materially improved, how outputs werevalidated, and how tools were embedded into a repeatable process. Familiarity with retrieval-augmented generation, AI agents and agentic workflows, structured outputs, and model evaluation is an asset. Basic chat-tool familiarity alone is not sufficient.
- Fluency in French isrequired, given the client-facing and Quebec market responsibilities of the role.

Skills and abilities

- Robust intellectualrigour, curiosity, and independent judgment, with a habit of developing original views rather than only reacting to consensus.
- Strong interest in applying AI to investment research, with the curiosity to test emerging tools, the judgment to distinguish durable use cases from hype, and the discipline to integrate effective tools into reliable day-to-day workflows. Ability to document practices and share learning in support of responsible AI adoption across the team.
- Ability toidentifyvariantperceptions, distinguish durable signal from noise, and synthesize complex evidence into concise, falsifiable investment recommendations.
- Ability to prioritize research toward ideas with meaningful expected value rather than maximizing output volume, while actively seeking disconfirming evidence and changing direction when the facts change.
- Ability to work independently with a high degree of initiative, ownership, and resourcefulness whilemaintaininga disciplined research agenda and idea pipeline.
- Ability to excel in a collaborative, debate-oriented environment and influence portfolio managers, traders, researchers, quants, technology partners, anddistributioncolleagues constructively.
- Strong oral and written communication skills, with the ability to present complex research and investment recommendations clearly, concisely, and credibly to investment colleagues, clients, advisors, and internal partners.
- High integrity, accountability, drive, creativity, anda commitmentto improving both personal performance and the team's research and decision-making process.

Benefits

- COMPETITIVE COMPENSATION & RECOGNITION:competitive base salary, performance-weightedbonus, education/career support, option to join Employee Share Purchase Plan with employer matchingcomponent.
- EMPLOYEE BENEFITS & INSURANCE:competitive health and dental coverage, flexible plan for you and your family and short-term & long-term disability plans.
- RETIREMENT SAVINGS PROGRAMS:voluntaryGroup RRSP enrolment with employer matchingcomponent.
- WORK LIFE BALANCE:paid volunteer days, competitive time off including 10 wellness days off,WorkPerksdiscount program, hybrid & flex work arrangements.
- INCLUSIVE CULTURE AND DIVERSITY:living our core values: Be a Team, Be Accountable, Be Better, engaging with community through Business Resource Groups (BRG communities are volunteer employee-led groups formed around a common interest, identity, or background). Knowledge ofFrench and Englishis required tosupportclients and Team members within and/ or outsidethe province of Quebec. IGM is a diverse workplace committed to doing business inclusively - this starts with having a representative workforce! We encourage applications from all qualified candidates thatrepresentthe diversity present across Canada – including racialized persons, women, Indigenous persons, persons with disabilities, 2SLGBTQIA+ community, gender diverse and neurodiverse individuals, as well as all who may contribute to the further diversification of ideas.

Mackenzie

Investments is an accessible employer committed to providingbarrier-free recruitment experience.If you require accommodation or this information in an alternate format at any stage of the recruitment process, please reach out to the Talent Acquisition team who will work with you to meet your needs. Please apply by July 29 2026.

📌 Fixed Income Portfolio Manager, Macro Group (Montreal)
🏢 Mackenzie Investments
📍 Montreal