Director, Alternative Investments

We are seeking an experienced Director to lead a team of portfolio managers overseeing relationships with external fund managers and alternative investment partners.

Team Leadership & Management

• Lead, mentor, and develop a team of portfolio managers
• Assign portfolio responsibilities and set performance expectations
• Conduct performance reviews and identify training/development needs
• Foster a collaborative, high-performing team culture

Manager Oversight & Performance

• Oversee monitoring and evaluation of external alternative managers against agreed benchmarks and KPIs
• Conduct regular performance reviews and provide constructive feedback
• Manage manager contracts, fees, and commercial negotiations
• Escalate underperformance issues and develop remediation plans

Portfolio Management – General Alternatives

• Develop and maintain diversified portfolio of alternative investments (Private Debt, Infrastructure, private equity, real estate, Structured Products etc.)
• Conduct due diligence on prospective managers and investment opportunities
• Make recommendations on manager selection, retention, and termination
• Ensure alignment between manager strategies and RBC Insurance investment objectives

Strategic Investment Leadership

• Research, evaluate, and implement new asset classes and investment strategies
• Develop approval recommendations and establish appropriate governance frameworks
• Create portfolio guidelines, performance measurements, and reporting frameworks for new initiatives
• Build and maintain deep expertise in insurance-linked securities, strategies and investment vehicles
• Stay current with insurance industry trends, regulatory changes, and market developments

Cross-Functional Collaboration

• Build and maintain strong relationships with actuarial, finance, risk and business teams
• Partner with external managers and advisors on portfolio optimization
• Partner with external counsel on the completion and negotiation of legal contracts
• Facilitate communication between investment and operational teams to ensure alignment

Investment Accounting & Financial Reporting

• Provide subject matter expertise on insurance investment accounting and financial reporting
• Review and challenge investment results, valuation approaches, and disclosures
• Support accurate and timely financial reporting to stakeholders and regulators
• Ensure compliance with accounting standards and insurance regulatory requirements

Relationship Management

• Serve as primary point of contact for key external managers
• Schedule and lead manager meetings, reviews, and strategy sessions
• Foster collaborative relationships to optimize outcomes for RBC Insurance
• Communicate portfolio updates and expectations clearly
• Develop relationships with insurance brokers and industry specialists as needed

Risk & Compliance

• Ensure managers comply with regulatory requirements and RBC policies
• Monitor liquidity, leverage, and concentration risks
• Prepare risk reports and maintain audit trails
• Escalate compliance concerns promptly

Reporting & Analytics

• Generate performance reports and investment dashboards for stakeholders
• Analyze manager attribution and contribution to portfolio returns
• Track and report on portfolio-specific metrics and risk factors

Requirements

• 10+ years in investment management or alternatives experience
• Minimum 5 years managing external managers or portfolio management responsibilities
• Strong knowledge of alternative asset classes
• Proven team leadership and people management experience
• Excellent relationship management and communication skills
• Financial analysis and quantitative capabilities

Nice-to-have

• Background in insurance industry
• Experience with alternative manager due diligence frameworks
• Track record building and scaling alternative investment platforms
• Knowledge of insurance investment accounting and regulatory reporting

What's in it for you?

• Working with an award-winning team
• A comprehensive Total Rewards package that prioritizes your overall wellbeing
• Work where you belong as part of a supportive, inclusive team and company
• Leaders who are invested in your success and provide opportunities to learn, grow and try new things
• An opportunity to have real impact on the lives of our clients and the communities you serve
• RBCI software tools to boost your productivity