# Associate Portfolio Manager, Asset Allocation at RBC

RBC is hiring an Associate Portfolio Manager, Asset Allocation in Toronto, Canada. It pays $90k-$140k a year and Level rates it Little AI ●○○○; you can [apply on RBC](https://jobsbylevel.com/go/313d70f9-90e3-48ff-a3a4-3e46bbcf4779?utm_medium=ai-agent).

AI Level 1, AI centrality 33 out of 100. TORONTO, Ontario, Canada.

## Details

- Company: [RBC](https://jobsbylevel.com/companies/rbc)
- AI level: AI Level 1 (score 33 out of 100)
- Location: TORONTO, Ontario, Canada
- Salary: $90k-$140k
- Posted: November 13, 2026
- Apply: https://jobsbylevel.com/go/313d70f9-90e3-48ff-a3a4-3e46bbcf4779?utm_medium=ai-agent
- Free CV review for this job: https://jobsbylevel.com/cv-review?job=associate-portfolio-manager-asset-allocation-at-rbc-256b9c

## Description

Job Description What is the opportunity? The Associate Portfolio Manager - Asset Allocation supports asset allocation and portfolio construction across RBC Insurance's portfolios backing insurance liabilities and surplus capital. Reporting to the Director, Senior Portfolio Manager - Asset Allocation, this role works closely with ALM, Actuarial, Finance, Risk, Product, and Pricing to translate liability needs, pricing inputs, capital considerations, and market views into portfolio analysis and investment recommendations. It is a highly collaborative role requiring strong analytical skills, investment judgment, and clear communication across technical and non-technical audiences. What will you do? Portfolio Management & Analysis Support strategic asset allocation and portfolio construction across liability and surplus portfolios Support bottom-up asset allocation reflecting liability needs, pricing considerations, capital requirements, surplus objectives, and market opportunities Research and evaluate new and existing asset classes and investment strategies across public and private markets, assessing each on risk-return, liability fit, capital treatment, liquidity, accounting impact, and implementation feasibility Monitor portfolio exposures, risk positions, performance drivers, asset mix, and compliance Conduct scenario analysis and stress testing across changing market, credit, liquidity, capital, and earnings environments Product and Pricing Support Partner with Product, Pricing, ALM, Actuarial, and Finance to assess new products through asset sourcing, portfolio construction, and investment assumptions Support asset allocation and hedge proposals for group annuity transactions, including materials for deal pricing, portfolio implementation, and risk assessment Develop investment assumptions for product pricing, including expected returns, liquidity needs, and capital impacts Connect investment strategy, product design, pricing, capital, and business outcomes through clear analysis Research, Reporting & Presentations Develop and articulate views on credit, interest rates, inflation, liquidity, and relative value, connecting market views to portfolio positioning Stay current with insurance industry trends, regulatory and accounting developments, and capital frameworks Build, maintain, and enhance portfolio analytics, dashboards, models, and reporting tools using Bloomberg, Excel, Python, SQL, and VBA Prepare investment overviews, market commentary, and allocation recommendations for working groups, investment committees, and senior leadership What do you need to succeed? Must-have 5+ years of experience in fixed income, asset allocation, portfolio construction, or a related investment role Strong programming skills in Python, SQL, and Excel/VBA, with experience developing quantitate models to support portfolio optimization, asset-liability management, and investment decision making. Strong understanding of insurance portfolio management, including liability-driven investing, capital efficiency, accounting considerations, and earnings risk Strong understanding of interest rate and credit markets, macroeconomic analysis, and portfolio risk management Strong analytical and quantitative skills, with the ability to translate complex portfolio analysis into clear investment recommendations Ability to support investment assumptions for product pricing and explain how investment strategy connects to product design and business outcomes Experience preparing investment analysis, portfolio recommendations, and presentation materials for senior stakeholders or governance forums Strong communication, relationship management, problem-solving skills, and attention to detail Professional investment designation such as CFA or CAIA, or equivalent institutional investment experience Undergraduate or graduate degree in Finance, Economics, Mathematics, Actuarial Science, or a related discipline Nice-to-have Actuarial credentials such as

The description is cut here. Read the full offer: https://jobsbylevel.com/jobs/associate-portfolio-manager-asset-allocation-at-rbc-256b9c

Source: https://jobsbylevel.com/jobs/associate-portfolio-manager-asset-allocation-at-rbc-256b9c

## Cite this page

Level. https://jobsbylevel.com/jobs/associate-portfolio-manager-asset-allocation-at-rbc-256b9c.

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