What 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 the broader investment team to support portfolio construction and optimize manager relationships.ResponsibilitiesManager 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 elevate performance concerns to the Director, External Managers – AlternativesPrepare materials for manager review meetings and strategy sessionsPortfolio Management – General AlternativesSupport development and maintenance of a 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 analyze 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 optimizationSupport 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 processesAnalyze 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 dashboardsAnalyze manager attribution and contribution to portfolio returnsPrepare analysis on portfolio‑specific metrics and risk factorsSupport ad hoc analysis and reporting requestsRequirements – Must Have5+ years in investment management or alternatives 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 contractsBenefitsWorking with an award‑winning teamA comprehensive Total Rewards package that prioritises overall wellbeing, including modern perks, competitive compensation and stock optionsA supportive, inclusive team culture that values diversity and personal growthOpportunities to develop new skills, learn, grow and innovate with extensive learning programsAn impact on clients and communities through real‑world contributionsRBCI software tools to boost productivityAdditional 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: 2026‑06‑12CompensationPay Range: $90,000 – $140,000 (based on location and role)Potential for discretionary variable compensation based on performance and goal attainment#J-18808-Ljbffr

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