Principal, Overlay Management

OMERS•Toronto, ON

3d•Onsite

About The Position

The Principal, Overlay Management, is a core investment leadership role within the Overlay Management group in the Global Multi-Assets Strategies (GMAS) team in Toronto. The position is responsible for developing and implementing global public equity views, translating macroeconomic and market insights into disciplined portfolio actions, and managing passive and tactical equity-related exposures. Working closely with the Managing Director, Overlay Management, EVP and Head of GMAS, Total Portfolio Management (TPM), Risk, and other Public Markets teams, the role supports OMERS transition toward a total portfolio investment approach with a strong emphasis on risk-adjusted returns and drawdown management. Reporting to the Managing Director, Overlay Management, the Principal is one of the portfolio managers responsible for cross‑asset passive positioning, macro research, tactical asset allocation decisions, and Tail Risk Hedging within the Overlay Management group. The role is critical to building a scalable, institutionally robust Overlay Management capability over time.

Requirements

10+ years in public markets investing, with demonstrated Portfolio Management‑level responsibility in equities, asset allocation, derivatives, or overlay strategies.
Bachelor’s degree in Finance, Economics, Mathematics, Engineering, or a related quantitative discipline required; advanced degree (MBA, MSc, PhD) and/or CFA ideal.
Deep experience in global equity markets, asset allocation, and portfolio construction.
Proven ability to link macroeconomic regimes to equity performance, correlations, and risk behavior.
Strong understanding of derivatives and overlay implementation techniques.
Experience in developing quantitative valuation signals for Equity markets.
Strong risk management orientation with experience evaluating drawdowns, volatility, and tail risks at the portfolio level.
Ability to assess ex‑ante and ex‑post risk/return characteristics of equity strategies and tactical positions.
Comfort operating within formal risk budgets and governance guardrails.
Experience working in a collaborative, cross‑functional investment environment.
Ability to clearly articulate investment views to senior stakeholders and participate in committee‑level discussions.
Willingness to operate within a systematic, evidence‑based decision framework while applying judgment when appropriate.
Demonstrated experience leading, mentoring, and developing junior investment professionals promoting a culture of accountability, intellectual curiosity, and disciplined decision-making.

Responsibilities

Develop global public equity investment views informed by macroeconomic analysis, valuation signals, and market dynamics.
Lead the design and execution of public equity-related tactical asset allocation (TAA) decisions within defined risk limits and governance frameworks.
Implement portfolio adjustments to improve total plan risk‑return outcomes, including equity exposure tilts, rebalancing actions, in coordination with Currency and Fixed Income positioning within Overlay Management.
Conduct and lead macroeconomic and market research relevant to public equity markets.
Continue evolving Equity Risk Premia (ERP) signals modeling research within TAA framework.
Contribute judgment and insight to the systematic Overlay Management investment framework, complementing quantitative signals with qualitative assessment.
Advance the Passive Equity benchmark delivery via enhancements to its rebalancing methodology and security selection framework.
Implement equity overlay strategies using liquid public market instruments, including futures, swaps, and options.
Ensure execution efficiency and coordination with Trading, Operations, and Risk teams.
Hold responsibility for equity‑related Tail Risk Hedging (TRH) strategies, including scenario analysis, stress testing, and downside protection design.
Present investment views, recommendations, and outcomes to the Managing Director, Overlay Management, EVP and Head of GMAS, and relevant governance forums.
Work collaboratively with Overlay Management team members, across GMAS, TPM, and Risk teams to maintain integrated total‑portfolio management.
Contribute to the development, documentation, and refinement of Overlay Management investment frameworks and methodologies.
Provide leadership, mentoring, and day‑to‑day guidance to junior team members, supporting skill development in macro research, portfolio construction, and implementation, while contributing to succession planning and team resilience.