# Portfolio Manager, External Managers – Alternatives at RBC

RBC is hiring a Portfolio Manager, External Managers – Alternatives in Toronto, Canada. It pays $90k-$140k a year and Level rates it Little AI ●○○○; you can [apply on RBC](https://jobsbylevel.com/go/c5c6ff52-a76c-4687-acf1-fbd407e20a5e?utm_medium=ai-agent).

AI Level 1, AI centrality 38 out of 100. TORONTO, Ontario, Canada.

## Details

- Company: [RBC](https://jobsbylevel.com/companies/rbc)
- AI level: AI Level 1 (score 38 out of 100)
- Location: TORONTO, Ontario, Canada
- Salary: $90k-$140k
- Posted: November 12, 2026
- Apply: https://jobsbylevel.com/go/c5c6ff52-a76c-4687-acf1-fbd407e20a5e?utm_medium=ai-agent
- Free CV review for this job: https://jobsbylevel.com/cv-review?job=portfolio-manager-external-managers-alternatives-at-rbc-dcb7a6

## Description

Job Description What is the opportunity? We are seeking an experienced Portfolio Manager to support the management of relationships with external fund managers and alternative investment partners. This role involves portfolio analysis, performance monitoring, due diligence, and strategic engagement with third-party managers across alternative asset classes. The Portfolio Manager will work collaboratively with the Director, External Managers - Alternatives and broader investment team to support portfolio construction and optimize manager relationships. What will you do? Manager Oversight & Performance Monitor and evaluate external alternative managers against agreed benchmarks and KPIs Conduct performance analysis and provide insights on manager performance trends Support manager contract management, fee negotiations, and commercial discussions Identify and escalate performance concerns to the Director, External Managers - Alternatives Prepare materials for manager review meetings and strategy sessions Portfolio Management – General Alternatives Support development and maintenance of diversified portfolio of alternative investments (Private Debt, Infrastructure, Private Equity, Real Estate, Structured Products, etc.) Conduct due diligence on prospective managers and investment opportunities Prepare due diligence reports and recommendations for manager selection and retention decisions Monitor portfolio alignment with RBC Insurance investment objectives Track and analyze portfolio composition, positioning, and exposures Strategic Investment Support Perform research and evaluation of new asset classes and investment strategies Support development of portfolio guidelines, performance measurements, and reporting frameworks Build expertise in insurance-linked securities, strategies, and investment vehicles Stay current with insurance industry trends, regulatory changes, and market developments Contribute to strategic investment initiatives and thought leadership Cross-Functional Collaboration Build and maintain strong relationships with actuarial, finance, risk, and business teams Partner with external managers and advisors on portfolio analysis and optimization Support external counsel on legal contract review and negotiation Facilitate communication between investment and operational teams Contribute to cross-functional working groups and initiatives Investment Accounting & Financial Reporting Support insurance investment accounting and financial reporting processes Analyze investment results, valuation approaches, and investment performance Contribute to accurate and timely financial reporting to stakeholders and regulators Ensure portfolio data and reporting align with accounting standards and insurance regulatory requirements Relationship Management Support primary contact relationship with key external managers Assist in scheduling and preparing for manager meetings, reviews, and strategy sessions Foster collaborative relationships with managers and external advisors Maintain clear communication of portfolio updates and expectations Develop knowledge of insurance brokers and industry specialists Risk & Compliance Monitor external managers for compliance with regulatory requirements and RBC policies Track and report on liquidity, leverage, and concentration risks Support risk reporting and audit trail maintenance Escalate compliance concerns to the Director promptly Reporting & Analytics Support generation of performance reports and investment dashboards Analyze manager attribution and contribution to portfolio returns Prepare analysis on portfolio-specific metrics and risk factors Support ad hoc analysis and reporting requests What do you need to succeed? Must-have 5+ years in investment management or alternatives experience Minimum 2 years in external manager oversight or portfolio management roles Strong knowledge of alternative asset classes (Private Debt, Infrastructure, Private Equity, Real Estate, Structured Products,

The description is cut here. Read the full offer: https://jobsbylevel.com/jobs/portfolio-manager-external-managers-alternatives-at-rbc-dcb7a6

Source: https://jobsbylevel.com/jobs/portfolio-manager-external-managers-alternatives-at-rbc-dcb7a6

## Cite this page

Level. https://jobsbylevel.com/jobs/portfolio-manager-external-managers-alternatives-at-rbc-dcb7a6.

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