Managing Director, Head Of Portfolio Strategy & Construction

Based in Toronto and reporting to our Executive Vice President and Head of Total Portfolio Management, the Managing Director (MD) and Head of Portfolio Strategy & Construction will be accountable for developing strategic asset allocation and asset mix recommendations (focused on a 12 month to 5-year time horizon) across all of the OMERS investment units and also for developing and overseeing the implementation of portfolio strategy.

The MD will be responsible for leading the team that develops the asset allocation methodologies, tools, techniques and processes and recommending asset allocations and asset mix for the investment units and relevant sub programs for approval by the CIO. The recommendations will build on the Board approved long term strategic asset mix - OMERS periodically conducts an Asset Liability Study led by the OMERS Strategy team.

In making asset allocation and asset mix recommendations the team will consider not just multiple parameters including expected risks, returns, regions, sectors, leverage, liquidity, cost of funding, approach to hedging, risk seeking & liability matching, OMERS constraints and many others, but also balance using systematic optimization techniques with judgement and collaborating with senior leaders across OMERS to ensure that there is “buy in” to the recommendations made.

The PS&C team will also be accountable for developing and overseeing the implementation of strategies to ensure that the “business model” of the CIO function is appropriate and best placed to meet the goals and objectives of the CIO (it should be noted that the Oxford business is not part of the CIO function). The team will develop recommendations for the scope of strategy initiatives with the CIO (working collaboratively with other teams in OMERS such as the OMERS strategy team) and then develop the strategies and oversee their implementation.

Further, the team will lead and contribute to other initiatives across OMERS for example contributing to the development of the Asset Liability Study recommendations, provide balance sheet insights (e.g., to the Board), and lead other ad-hoc initiatives as required.

As a member of this team, you will be responsible for

• Ensuring there is effective reporting and insights into the OMERS balance sheet as it relates to positioning versus the asset allocation & asset mix recommendations.
• Further, as a senior member of the TPM team the Head of Portfolio Strategy & Construction will contribute to wider initiatives within TPM and across OMERS.
• Leading the Portfolio Strategy & Construction team ensuring the team continues its evolution to becoming a high performing team, demonstrating value add to the business.
• Developing and overseeing the implementation of strategies that ensure that the operating model of the CIO function is best placed to meet the goals and objectives of the CIO.
• Developing the team culture based on inclusion, excellence, accountability and trust, and building the capability of the team.
• Developing and overseeing the implementation of the team vision and strategy.
• Development of sophisticated asset allocation methodologies, techniques and processes that can be applied effectively and pragmatically across all asset classes at OMERS including consideration of how the recommendations will be implemented.
• Recommending strategic asset mix and asset allocations for OMERS investment units that will be ultimately approved by the CIO.
• Contributing to various other initiatives (e.g., Asset Liability studies, supporting work to develop short term tactical tilts and balance sheet optimization, wider OMERS initiatives).

To succeed in this role, you have

• An investment professional possessing 15+ years of relevant public market investing and capital allocation experience across multiple asset classes. Although experience of allocating across both publics and privates is ideal, significant experience of allocation across public market asset classes is essential.
• Possess a high degree of integrity and demonstrated ability to lead teams and build effective cultures.
• Naturally collaborative and influential this leader has a demonstrated ability to build effective relationships internally and externally.
• A demonstrated track record of driving change initiatives internally across processes and systems.
• Experience with a pension fund, public or private sector, would be an asset.
• A deep understanding and application of capital allocation methodologies and techniques
• Strong interpersonal skills with the ability to communicate across all levels of the organization, including the Chief Investment Officer.
• Intellectually curious and pro-active in their mindset and approach, they possess a strong drive for delivering results.
• Strong ability to set a vision for how an effective and top quartile portfolio construction team operates, and knows how to keep a team motivated towards achieving said goal
• Ability to see the “big picture” whilst paying sharp attention to detail, this leader will also be able to think strategically (and oversee the implementation of the strategy), while also operate tactically – both by prioritizing and delegating but also “rolling up sleeves”, when needed.

Our story

Founded in 1962, OMERS is one of Canada’s largest defined benefit pension plans, with $124 billion in net assets as at December 31, 2022. OMERS is a jointly-sponsored pension plan, with more than 1,000 participating employers ranging from large cities to local agencies, and over half a million active, deferred and retired members. OMERS members include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children’s aid societies across Ontario. Contributions to the Plan are funded equally by members and employers. OMERS teams work in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe – serving members and employers and originating and managing a diversified portfolio of high-quality investments in public markets, private equity, infrastructure and real estate.

OMERS is committed to having a workforce that reflects the communities in which we live and work. We are an equal opportunity employer committed to a barrier-free recruitment and selection process. At OMERS inclusion and diversity means belonging. How we create a sense of belonging is through our employees and our vast network of Employee Resource Groups. Whether you are passionate about gender, pride, or visible minorities, we have groups that are focused on making a difference in all of our lives.