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Analyst, Overlay Management

Role Overview

The Global Multi-Asset Strategies (GMAS) team, at OMERS Capital Markets, provides investment solutions for OMERS across passive, active, absolute return and risk-mitigation strategies managing in-excess of CAD $20 billion of plan assets. Our team invests across a broad global mix of Equities, Fixed Income, FX, Credit, and Commodities in both the cash and derivatives markets.

As a member of the Overlay Management group, within GMAS, you will be working on a team responsible for cross asset Passive positioning, macro research, Tactical Asset Allocation, dynamic Currency Management, and Tail Risk Hedging, with a focus on enhancing short-term risk-adjusted returns and protecting capital while maintaining prudent risk management.

Reporting to a Principal within Overlay Management, the Analyst will focus on developing quantitative allocation models and investment signals, supporting systematic investment insights, and assisting with the implementation and monitoring of Passive and Tactical portfolio positions. Working closely with colleagues in Overlay and GMAS, traders, Risk, and Operations teams, the role contributes to disciplined portfolio management, execution efficiency, and robust risk management. The position provides strong exposure to macro‑driven investing, derivatives‑based overlays, and total portfolio implementation within an institutional investment framework.

Key Responsibilities

Quantitative Research & Model Development

• Develop and maintain quantitative allocation models and investment signals supporting tactical asset allocation, other Overlay Management strategies, and across the GMAS strategies.

• Conduct empirical research to support systematic investment insights across macro factors, valuation, and cross‑asset relationships.

• Assist in the design and enhancement of Overlay Management’s investment frameworks, integrating research findings into portfolio decision processes.

• Procuring data and overseeing maintenance of the data lake (cloud) and database within GMAS.

Scenario Analysis & Risk Frameworks

• Build and maintain scenario analysis and stress testing frameworks to assess portfolio behavior under adverse macro and market conditions.

• Support analysis of drawdowns, tail risks, and diversification benefits at the portfolio and strategy level.

• Assist with ex‑ante and ex‑post evaluation of portfolio risk and performance outcomes.

Portfolio Monitoring & Implementation

• Monitor portfolio exposures, position sizes, and risk contributions across passive and tactical strategies.

• Support the implementation of passive and tactical positions using liquid public market instruments, including futures, swaps, forwards, and options.

• Assist with the day‑to‑day management of Overlay Management portfolio positions and data quality within GMAS.

Execution & Operations Coordination

• Monitor execution quality and efficiency, tracking slippage, costs, and market impact.

• Coordinate with Trading, Operations, and Risk teams to ensure accurate trade booking, settlement, and ongoing position management.

• Support reconciliation, reporting, and operational controls related to portfolio implementation and overlays.

Collaboration & Communication

• Prepare analysis, charts, and materials to support portfolio manager discussions and investment reviews.

• Contribute to documentation of investment processes, models, and methodologies.

• Work collaboratively with team members across Overlay Management, GMAS, TPM, Risk, Trading, and Operations.

Required Skills and Experience

Experience: 0–2 years of experience in investment research, quantitative analysis, or portfolio implementation.

Education: Bachelor’s degree in Finance, Economics, Mathematics, Statistics, Engineering, Computer Science, or a related quantitative discipline required. Progress toward CFA, FRM, or a relevant advanced degree is considered an asset.

Technical & Analytical Skills

• Strong quantitative and analytical skills, with experience developing models, signals, or data‑driven insights.

• Working knowledge of derivatives and liquid market instruments (futures, swaps, options).

• Proficiency in data analysis tools and programming languages commonly used in investment research (e.g., Python, R, SQL, MATLAB, or similar).

• Solid understanding of portfolio risk concepts, including volatility, correlations, drawdowns, and stress testing

Professional Attributes

• Strong attention to detail and high standards for data accuracy and process integrity.

• Ability to manage multiple workstreams in a fast‑paced investment environment.

• Clear written and verbal communication skills, with the ability to explain analytical outputs effectively.

• Intellectual curiosity and willingness to learn within a disciplined, evidence‑based investment framework.

• Collaborative mindset and comfort working with portfolio managers, traders, and control functions.

This posting is for an existing vacancy.

The expected salary range for this position is $115,000.00 - $155,000.00 per year.

You may also be eligible to receive an annual Incentive Award pursuant to our Short-term Incentive plan and our Long-Term Incentive plan (if applicable), and to participate in our group benefits and retirement plans – details on these elements of compensation are included within OMERS & Oxford offer letters.

As one of Canada’s largest defined benefit pension plans, our people-first culture is at its best when our workforce reflects the communities where we live and work — and the members we proudly serve.

From hire to retire, we are an equal opportunity employer committed to an inclusive, barrier-free recruitment and selection process that extends all the way through your employee experience. This sense of belonging and connection is cultivated up, down and across our global organization thanks to our vast network of Employee Resource Groups with executive leader sponsorship, our Purpose@Work committee and employee recognition programs.

Artificial intelligence (AI) tools are used to support certain stages of the OMERS recruitment process. While AI assists us in our process, human judgment and decision-making remain central to our candidate experience.