About Us

We’re one of Canada’s largest pension investors, with CAD$320.6 billion of net assets as of March 31, 2026. We invest funds for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. Capturing and leading complex global investments requires us to work as one to seize valuable opportunities, in close collaboration with some of the world’s top companies. At PSP Investments, you’ll join a team of motivated and engaged professionals, dedicated to propelling our organization further than ever before.

About The Team

The Fundamental Research Platform is a team of sector specialists providing deep, bottom‑up research across the global markets in which PSP invests. Our primary role is to support PSP’s internally managed active equities strategies. You will sit within the Financials sector team, report to the sector lead, and partner directly with portfolio managers across PSP’s active equities mandates. The sector team owns coverage depth; the portfolio managers own portfolio construction. The best ideas come from the interaction between the two: deep sector knowledge held against a portfolio‑wide view of risk, opportunity, valuation, and conviction. Initial coverage will be set based on team needs and the candidate’s background, but may include banks, insurers, asset managers, brokers, and other financial services companies across global markets.

About Your Role





We are looking for someone who wants to understand how financial sector companies create economic value — and has the rigour to identify when the market is over‑estimating or under‑estimating that value. As a Senior Analyst / Associate on PSP’s Financials team within the Fundamental Research Platform, you will own a defined coverage universe, develop differentiated investment views, and work with portfolio managers to translate research into portfolio decisions across PSP’s internally managed active equities mandates. This is a research role, not a support role. You will be expected to build real coverage depth, form independent views, and contribute directly to investment decisions. The fundamentals — filings, models, industry calls, valuation — are table stakes. The job is to go further: to identify what matters, test it rigorously, and develop insight the market has not yet priced. We expect analysts to be fluent with large language models and modern AI research tools, and to use them regularly — within PSP’s governance and confidentiality standards — to interrogate filings and transcripts, reconcile data, accelerate model scaffolding, and synthesize research in hours rather than days.

What matters most is judgment: knowing where these tools help, where they fail, and how to verify the work before it influences an investment decision. We are looking for someone who can use AI to move faster without becoming less rigorous.

You’ll:

- Own coverage: take responsibility for a defined slice of the financials universe — building and maintaining models,



tracking operating metrics, and knowing companies well enough to anticipate key debates before results are released.
- Build the case, then test it: develop investment theses and bring both bull and bear cases to the team. We care less about being right on the first pass than about pressure‑testing assumptions until what remains is durable.
- Translate research into portfolio‑relevant conclusions: be explicit about what your work implies in terms of holdings and why now.
- Conduct primary research: build and use a network of sell‑side analysts, industry consultants, experts, and company contacts, run channel checks, attend management meetings and conferences, and report unique insights.
- Make recommendations: bring stock actions to portfolio managers as risk/reward shifts and monitor names underwritten against their thesis, flagging when the story starts to break before the price does.
- Understand risk: assess valuation, expectations, positioning, factor exposure, disruption, cyclicality, capital allocation, and downside scenarios — and be clear about what would change your mind.
- Support the wider platform: lend your sector perspective to alternative and private‑market teams when evaluating financial sector businesses.
- Improve how the team works: help automate repetitive parts of the research process and serve as a bridge to our data, analytics, and portfolio operations colleagues.

Regular travel to conferences and company meetings is required.

What You’ll Need

- Typically, five (5) to ten (10) years in a role involving rigorous fundamental work — buy‑side research, sell‑side equity research, investment banking, or fund management. A track recor

📌 Senior Analyst (Montreal)
🏢 PSP Investments | Investissements PSP
📍 Montreal