Job DescriptionWe 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 optimise manager relationships.What will you do?Manager Oversight & PerformanceMonitor and evaluate external alternative managers against agreed benchmarks and KPIsConduct performance analysis and provide insights on manager performance trendsSupport manager contract management, fee negotiations, and commercial discussionsIdentify and escalation performance concerns to the Director, External Managers — AlternativesPrepare materials for manager review meetings and strategy sessionsPortfolio Management – General AlternativesSupport 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 opportunitiesPrepare due diligence reports and recommendations for manager selection and retention decisionsMonitor portfolio alignment with RBC Insurance investment objectivesTrack and analyse portfolio composition, positioning, and exposuresStrategic Investment SupportPerform research and evaluation of new asset classes and investment strategiesSupport development of portfolio guidelines, performance measurements, and reporting frameworksBuild expertise in insurance‑linked securities, strategies, and investment vehiclesStay current with insurance industry trends, regulatory changes, and market developmentsContribute to strategic investment initiatives and thought leadershipCross‑Functional CollaborationBuild and maintain strong relationships with actuarial, finance, risk, and business teamsPartner with external managers and advisors on portfolio analysis and optimisationSupport external counsel on legal contract review and negotiationFacilitate communication between investment and operational teamsContribute to cross‑functional working groups and initiativesInvestment Accounting & Financial ReportingSupport insurance investment accounting and financial reporting processesAnalyse investment results, valuation approaches, and investment performanceContribute to accurate and timely financial reporting to stakeholders and regulatorsEnsure portfolio data and reporting align with accounting standards and insurance regulatory requirementsRelationship ManagementSupport primary contact relationship with key external managersAssist in scheduling and preparing for manager meetings, reviews,



and strategy sessionsFoster collaborative relationships with managers and external advisorsMaintain clear communication of portfolio updates and expectationsDevelop knowledge of insurance brokers and industry specialistsRisk & ComplianceMonitor external managers for compliance with regulatory requirements and RBC policiesTrack and report on liquidity, leverage, and concentration risksSupport risk reporting and audit trail maintenanceEscalate compliance concerns to the Director promptlyReporting & AnalyticsSupport generation of performance reports and investment dashboardsAnalyse manager attribution and contribution to portfolio returnsPrepare analysis on portfolio‑specific metrics and risk factorsSupport ad hoc analysis and reporting requestsWhat do you need to succeed?Must‑have5+ years in investment management or alternative experienceMinimum 2 years in external manager oversight or portfolio management rolesStrong knowledge of alternative asset classes (Private Debt, Infrastructure, Private Equity, Real Estate, Structured Products, etc.)Excellent analytical and quantitative skillsStrong relationship management and communication skillsProficiency with financial analysis tools and investment analytics platformsEducational Requirements and AccreditationsProfessional investment or risk designation (e.G., CFA, FRM, CAIA) or equivalent institutional investment experience requiredAdditional actuarial credentials (e.G., FSA or ASA) are considered an assetNice‑to‑haveBackground in insurance or insurance investment managementExperience with alternative manager due diligence frameworks and processesKnowledge of insurance investment accounting and regulatory reportingExperience with private markets or illiquid alternative assetsFamiliarity with investment documentation and legal contractsWhat’s in it for you?Whether it’s developing new skills, opportunities to innovate and grow, modern and comprehensive benefits, or the flexibility to enjoy the moments that matter, at RBC you have everything you need at your fingertips to build your career and life.Working with an award‑winning team—Awards | RBC Diversity & InclusionA comprehensive Total Rewards package prioritising your overall wellbeing, including flexible and modern benefits, competitive compensation and stock optionsWork where you belong as part of a supportive, inclusive team and company that celebrates your unique perspectives, background and experience and want you to bring your whole self to work, every day.Leaders who are invested in your success and provide opportunities to learn, to grow and to try new things. Develop new skills,



sharpen existing ones and explore paths you never knew existed with a host of learning programmes and tools designed to support you in every phase of your career.An opportunity to have real impact on the lives of our clients and the communities you serve.RBCI software tools to boost your productivityJob SkillsDerivativesInvestment ConsultingInvestment Performance MeasurementInvestment Risk ManagementInvestmentsInvestments AnalysisLong Term PlanningPortfolio ManagementProduct ServicesRisk ControlAdditional Job DetailsAddress: RBC CENTRE, 155 WELLINGTON ST W:TORONTOCity: TorontoCountry: CanadaWork hours/week: 37.5Employment Type: Full timePlatform: INSURANCEJob Type: RegularPay Type: SalariedPosted Date: 2026‑05‑29Application Deadline: 2026‑06‑12Compensation 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 - $140,000.00Pay 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 range 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 programme which gives you an opportunity to increase your total compensation, provided that the business meets its performance targets and you meet your individual goals.Our Employment OpportunitiesAt RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programmes intended to foster a workplace based on respect, belonging and opportunity for all.Join our Talent CommunityStay in‑the‑know about great career opportunities at RBC. Sign up and get customised info on our latest jobs, career tips and recruitment events that matter to you.Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well‑being of our clients and communities at jobs.Rbc.Com.RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career prospect at RBC. Qualified applicants may be contacted to review their resume in more detail.#J-18808-Ljbffr

📌 Portfolio Manager, External Managers – Alternatives - $90,000 - $140,000 A Year (Winnipeg)
🏢 RBC
📍 Winnipeg