Chief Risk Officer

Picton Mahoney Asset Management•Toronto, ON

5d•Hybrid

About The Position

At Picton Mahoney Asset Management (PICTON Investments), being alternative isn’t just what we do—it’s who we are. Founded by industry pioneer David Picton, we’ve spent over 20 years challenging conventional wisdom and redefining the investing landscape. As one of Canada’s most trusted investment brands, we are proudly independent—privately run, 100% employee-owned, and deeply committed to delivering results for our clients. Thinking Alternatively is in Our DNA. With a team of 241 bold thinkers—one-third dedicated solely to investment management—we are specialists, not generalists. Managing $19.3 billion (as of June 31st, 2026) for institutional and retail clients, we navigate markets with conviction, resilience, and a forward-thinking approach. We’re more than investors — we’re innovators. We challenge traditional investment mindsets, constantly pushing the boundaries to achieve our mission: To bring greater certainty to investors. Our success is built on four guiding principles: Treat investors’ money like our own. Redefine the way investors invest. Be human—always approachable. Succeed together, one investment at a time. These aren’t just words—they define how we think, how we invest, and how we work. Now, we’re entering our next chapter. We’re transforming our brand and reshaping the way the world invests. If you think alternatively, embrace an entrepreneurial spirit, and thrive in a dynamic, bureaucracy-free environment, join us and be part of what’s next. Thriving in Our Entrepreneurial Culture At PICTON Investments, you’ll thrive in our creative and dynamic workplace, where collaboration and support are at the core of everything we do. At our firm, you’ll have the opportunity to take on significant responsibilities, work in a flexible environment, and tackle challenging projects from the outset. Our culture is designed for ambitious professionals who want to make an immediate impact while continuing to push boundaries and achieve our greater mission. You’ll be empowered with a high level of responsibility, trust, and flexibility, providing an exciting and creative space for you to help reshape how the world views alternative investments. With competitive total rewards, performance-based bonuses, and a clear path for career growth, you’ll have everything you need to develop both now and over the longer term.

Requirements

10+ years in quantitative risk management, ideally within an equity-focused hedge fund, asset manager, or multi-strategy platform
Proven experience leading a risk function, including setting limits, managing exposure, and supporting senior decision-making
Exposure to Credit and/or Arbitrage is an asset; strong interest in cross-asset investing is essential
Track record of partnering with portfolio managers as a trusted advisor
Strong command of key risk metrics including Sharpe ratio, VaR, volatility, drawdown, factor exposure, and tail risk
Advanced quantitative capabilities, including model development and data analysis
Solid understanding of portfolio construction, including correlation, position sizing, and capital efficiency
Ability to challenge and collaborate effectively with investment teams
Strong decision-making in dynamic and uncertain market environments
Clear communicator, able to translate complex analysis into actionable insights
Builder mindset with interest in shaping and scaling a platform
Views risk as a strategic lever, not just a control function
Motivated by the opportunity to influence firm-level outcomes
Interested in building a long-term platform, track record, and impact

Responsibilities

Own the design and oversight of a comprehensive, cross-strategy risk framework — setting risk limits and guidelines, governance standards, and controls that underpin the firm's integrated approach to portfolio management.
Operate as a core strategic partner to the CIO and Multi-Strategy PM, helping define how risk is measured, budgeted, allocated, and optimized across the platform.
Expand from equity risk expertise into cross-asset portfolio construction across Credit, Arbitrage, and multi-strategy.
Design and evolve the firm’s integrated risk infrastructure, including models, limits, and governance frameworks.
Own the risk budgeting process, allocating capital across strategies based on performance, correlation, and market conditions.
Partner directly with the Multi-Strategy PM on portfolio construction decisions.
Influence how risk capital is deployed, scaled, or reduced across the platform.
Establish volatility targets, drawdown controls, and capital efficiency standards.
Develop a risk governance model that balances rigor with commercial practicality.
Support the transition to a cohesive, institutionally scalable multi-strategy platform.
Contribute to the firm’s most critical portfolio decisions.
Build a track record as a capital allocator, with impact tied to overall firm performance.