FX Analyst (Associate) / Senior Analyst (Senior Associate), Overlay Management
OMERS · Toronto, Canada · 9d ago
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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. 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, the candidate will work 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 Portfolio Manager within Overlay Management, the candidate will focus primarily on FX, with opportunities to contribute to broader cross-asset exposure management. The role will support the development of FX optimization models and tactical investment signals, scenario and stress testing frameworks, portfolio monitoring tools, and implementations.
The role combines systematic, model-driven research with practical investment judgement. The candidate will help translate quantitative insights into portfolio recommendations, implementation plans, and risk-aware exposure decisions across both strategic and tactical horizons. Working closely with Overlay Management, GMAS, Total Portfolio Management, investment teams, Risk, Trading, and Operations, the role contributes to disciplined portfolio management, execution efficiency, and robust risk management.
You will be responsible for:
- Develop, maintain, and enhance FX optimization models and analytical frameworks that support dynamic currency management, with the objective of improving total portfolio outcomes across return, risk, liquidity, and implementation efficiency.
- Conduct empirical research to support FX tactical asset allocation, including translating research findings into value-add systematic signals and actionable portfolio insights.
- Build and maintain scenario analysis and stress testing frameworks to assess portfolio behavior under adverse FX, macro, and market conditions.
- Support FX Tail Risk Hedging analysis, including option payoff analysis, premium budget assessment, stress-period backtesting, and cost-benefit evaluation.
- Apply investment judgment to complement model-driven insights when assessing exposure decisions, portfolio recommendations, and potential adjustments within approved governance and risk parameters.
- Design portfolio modelling and monitoring frameworks to evaluate exposures, signal outputs, performance drivers, and risk across FX strategies.
- Assist with ex-ante and ex-post trade evaluation, including risk, return, tracking error, liquidity, and implementation considerations.
- Prepare analysis, charts, dashboards, and materials to support portfolio manager discussions, investment reviews, and stakeholder updates.
- Document investment processes, models, assumptions, methodologies, and recurring workflows to improve transparency, governance, and auditability.
Required Skills:
- 2-5 years of relevant experience in portfolio management, investment research, quantitative analysis, or a related capital markets role. Broader multi-asset experience, including currency markets, and the ability to assess macro drivers of returns and cross-asset linkages would be valuable assets.
- Bachelor’s degree in Finance, Economics, Mathematics, Statistics, Engineering, Computer Science, or a related quantitative discipline required.
- Strong quantitative and analytical skills, with demonstrated experience developing models, signals, dashboards, or data-driven investment insights.
- Strong proficiency in Python, SQL, R, MATLAB, or similar tools used in investment research, data analysis, and workflow automation.
- Working knowledge of FX markets, derivatives, and liquid public market instruments, including forwards, futures, swaps, and options.
- Solid understanding of portfolio risk concepts, including volatility, correlations, drawdowns, stress testing, tracking error, liquidity, and risk contribution.
- Ability to work with large datasets, validate outputs, document assumptions, and maintain high standards for data quality and process integrity.
- Intellectual curiosity and ability to connect market developments, quantitative research, and portfolio implications.
- Sound investment judgement, with ability to balance systematic model outputs, market context, implementation constraints, and risk considerations.
- Strong attention to detail and high standards for data accuracy, documentation, and process integrity.
- Ability to manage multiple workstreams in a fast-paced investment environment while taking ownership of deliverables and escalating key issues appropriately.
- Clear written and verbal communication skills, with the ability to explain analytical outputs effectively to both technical and non-technical stakeholders.
- Collaborative mindset and comfort working with portfolio managers, investment teams, traders, Risk, Operations, and Total Portfolio Management.
Preferred Skills:
- Progress toward or completion of CFA, FRM, a master’s degree, or another relevant advanced qualification is considered an asset.
- Strong interest in FX markets, macro-driven investing, derivatives-based overlays, and total portfolio implementation.
- Familiarity with Bloomberg, Aladdin, Power BI, GitHub, Azure, cloud-based data environments, or AI-assisted coding tools is considered an asset.
For the Senior Analyst level, the expected salary range for this position is $140,000 - $180,000 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.