Director, External Managers – Alternatives

Job Description

What is the opportunity?

We are seeking an experienced Director to lead a team of portfolio managers overseeing relationships with external fund managers and alternative investment partners. This role is responsible for portfolio construction, performance monitoring, strategic engagement with third-party managers, and developing expertise in alternative insurance-linked strategies.

What will you do?

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

What do you need to succeed?

Must-have

• 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

Educational Requirements and Accreditations

• Professional investment or risk designation (e.g., CFA, FRM, CAIA) or equivalent institutional investment experience required
• Additional actuarial credentials (e.g., FSA or ASA) are considered an asset

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?

Whether it’s developing new skills, opportunities to innovate and grow, modern and comprehensive benefits, or the flexibility to enjoy the moments that matter, at RBC you have everything you need at your fingertips to build your career and life.

• Working with an award-winning team Awards | RBC Diversity & Inclusion
• A comprehensive Total Rewards package that prioritizes your overall wellbeing, including flexible and modern benefits, competitive compensation and stock options
• Work where you belong as part of a supportive, inclusive team and company that celebrate your unique perspectives, background and experience and want you to bring your whole self to work, every day.
• Leaders who are invested in your success and provide opportunities to learn, to grow and to try new things. Develop new skills, sharpen existing ones and explore paths you never knew existed with a host of learning programs and tools designed to support you in every phase of your career.
• An opportunity to have real impact on the lives of our clients and the communities you serve.
• RBCI software tools to boost your productivity

Job Skills

Derivatives, Investment Consulting, Investment Performance Measurement, Investment Risk Management, Investments, Investments Analysis, Long Term Planning, Portfolio Management, Product Services, Risk Control

Additional Job Details

Address:

RBC CENTRE, 155 WELLINGTON ST W:TORONTO

City:

Toronto

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

INSURANCE

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2026-05-29

Application Deadline:

2026-06-12

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Compensation for this position (including salary and discretionary/variable payments) will be determined by factors, including but not limited to candidate's experience, skills, registration status, performance, individual goals, market conditions, and business needs.

Pay Range

The expected pay range for this position is:

$110,000.00 - $160,000.00

The pay range provided is for the primary work location referenced in the Additional Job Details section of this job posting. Pay ranges may differ based on location. If the posting lists multiple job locations, a recruiter can confirm availability of the role and the relevant pay rage for the additional locations listed. RBC supports pay transparency and we strive to ensure all pay ranges are competitive, fair, and equitable.

You have the potential to earn RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided that business meets its performance targets and you meet your individual goals.

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.