Associate Portfolio Manager, Index ETF (GAM Canada)
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.
As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.
Posting Closing Date:December 26, 2021
The successful candidate will join an experienced and dynamic team that builds and manages exchange traded funds (ETF), mutual funds and institutional mandates.
This unique role will focus on index-based equities and the development of the risk-mitigation and automated processes for the entire ETF PM desk. In addition to supporting the portfolio managers on the desk, the candidate will play a key role in being a liaison between the ETF PM team and the BMO GAM infrastructure team. The candidate's responsibilities will include, but are not limited to, portfolio management of index-based equities, currency hedging, modelling and implementing equity rebalances, product design, and interacting with market participants. Although the candidate will be involved in portfolio management, this role will play an integral role in enhancing the internal portfolio management architecture with a focus on mitigating risk and automating processes to allow the ETF business to become more scalable.
Technology,Infrastructure and Risk Management Enhancement
- Playing a key role in enhancing internal risk controls on overall PM desk in order to minimize trading and operational risk
- Continuously pursue and identify potential risk within our business and processes
- Automate processes that can result in human error by eliminating manual processes where possible
- Ability to use technology in order to systematically mitigate risk and improve desk efficiencies
- Playing a key role in being the liaison between ETF PM desk and BMO GAM infrastructure team
- Finding a way to automate many of the manual internal processes allowing the ETF business to become more scalable
- Ensure controls are in place and are being followed
- Being able to understand the coding of the internal platforms and being able to articulate areas of improvement to both the internal infrastructure, PM team, operations and other internal groups is seen as a key skill
- Join a culture that continuously looks to mitigate operational risk
Investment Management - Index ETF
- Investment Management - Index ETF and Passive Institutional Strategies
- Responsible for the day to day management of a defined set of equity-based ETFs.
- Ensure each ETF tracks their respective index within allocated tolerance.
- Effectively manage time when simultaneously rebalancing a number of portfolios on any given day
- Monitor corporate actions and decide on best course of action.
- Maintain and review equity models and identify opportunities to improve them
- Assist in the analysis of performance and investment decisions to defend to senior investment committee
- Periodic investment commentaries to support both business development, as well as regulatory requirements
Trading - Equities
- Build a trading strategy for any fund rebalances and portfolio transitions to minimize market impact and tracking
- Maintain knowledge and understanding of marketplace dynamics, including sources of ETF and equity liquidity
- Collaborate with ETF portfolio management team and equity trading desk to effectively plan equity rebalances required
- Currency Hedging - Support the team during monthly hedge roll adjustments.
- Facilitate equity trading across multiple geographical regions
- Work as a team to ensure the accuracy of trade lists and help mitigate any trading errors
- Maintain contacts and working relationships with various broker/dealers
- Continuously improve the operational efficiencies of the PM/Trading process
- Automating data needed by the sales and PM team to identify sales and product trends
- Being able to compare our ETFs with industry peers in order to develop key positioning ideas for portfolio managers and sales team
- Function as subject matter expert to support sales initiatives to drive asset growth
- Foster a highly integrated and collaborative partnership with the sales team to deliver exceptional client service, through delivery of timely and insightful commentary, support and ETF analysis
- Support products through education and sales
- Promote BMO ETFs both externally and internally
- Maintain a high level of knowledge of Equity and ETF markets
- Provide investment analysis and commentary to the portfolio management and sales teams
- Provide investment analysis on new product launches
- Assist in the writing of commentaries and regulatory disclosure documentation
- Work with portfolio managers to automate many of the regulatory reporting
Investment Management - Custom Solutions
- Work with institutional sales team to leverage the capabilities within the ETF team
- Aid the portfolio management team in building "one stop" solutions for our clients, by using the most efficient products, whether ETF, index funds or derivative based
- Provide input and develop rational for new product launches. Working with PM team or index provider in the designing or engineering of new products
- Keeping up with developments in the industry in order to recommend new solutions for product team
- Assist in providing analysis and building presentations for client meetings and sales presentations with the institutional sales team
- University graduate in Computer Science, Commerce, Business, Engineering, Mathematics or Economics is preferred but not required
- CFA Charterholder, CIM, or working towards
- A minimum 2-5 years of investment industry experience, with direct investment experience, buy side or sell side seen as an asset
- Understanding and experience in multiple asset classes in addition to equities such as futures/forwards, options, fixed income, and currencies is seen as an asset.
- Experience in macroeconomic research and a familiarity with writing regular commentaries and strategy reports
- Excellent working knowledge of global financial markets, investment management, products and marketing
- Possess strong quantitative and technology skills
- Programming is seen as a strong advantage (VBA and/or other coding skills)
- Collaboration & team skills - in-depth
- Analytical and problem solving skills - In-depth
- Influence skills - In-depth
How to Apply:
To find out more visit us at https://jobs.bmo.com/ca/en.
BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other's differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.