Director - Structured Credit (Asset Backed Financing)

Exciting Director level opportunity at OTPP - we are looking for a seasoned and experienced PM to join our growing Structured Credit Team!

The OTPP Credit team is a group of ~45 investment professionals investing across the full spectrum of credit products and strategies, and employing a wide variety of investment styles and skill sets, including deep-dive fundamental analysis (public and private), enhanced indexing, quantitative strategies, external funds, as well as structured credit investing.

As one of the strategic growth areas within Credit, the Structured Credit team has a flexible and value-focused mandate to invest across the capital structure of portfolios of various credit assets. The team utilizes specialized product knowledge to perform fundamental, quantitative and structural underwriting with the objective of delivering scalable, innovative and superior risk-adjusted returns for the Fund. The Structured Credit team carries out 4 main businesses including: Collateralized Loans Obligation (CLO), Significant Risk Transfer (SRT), Asset Backed Financing (ABF) and Opportunistic Absolute Return Strategies (ARS). Reporting to the head of Structured Credit, the primary mandate of this role is to expand and enhance OTPP’s capability and capacity in the ABF business. The successful candidate will also provide support and cross coverage to other Structured Credit business lines (such as CLO and SRT) as required.

Asset Backed Financing (ABF) Related:

• Work collectively and collaboratively with the other PM and staff in the ABF team to drive further growth and deliver impactful performance in our ABF strategies.

• Significantly expand the team’s investment capacity by proactively sourcing/engaging opportunities and owning transactions end-to-end-from origination and underwriting to execution and closing

• Enhance the team’s underwriting capability by adding specific subject matter expertise in key ABF sub-asset classes (e.g. mortgages and consumer credit) and by further strengthening the sophistication of our analytical framework and processes

• Originate differentiated investment ideas, cultivate strategic relationships with external partners (including originators, co-investors, and financing providers), and apply sound judgment and market acumen in deal selection and prioritization.

• Enhance OTPP’s visibility and reputation as a partner of choice in the structured credit market

• Be a true team player while scaling the ABF business: support your colleagues and serve as a reliable sounding board to the other PM and staff, focus and celebrate team successes and take collective responsibility for challenges

• As one of the lead PMs in the ABF team, consistently demonstrate your ability to advance and scale this relatively nascent business with enthusiasm, vision, independence and entrepreneurial spirit.

Other:

• Provide support and cross coverage to other structured credit businesses (such as SRTs & CLOs) as required

• Support the head of Structure Credit on special situation projects or transactions that are multidisciplinary in nature

• Contribute to a high-performing, collaborative and psychologically safe workplace that values openness, vulnerability, and empathy

• Be a good coach and mentor to junior staff in Structured Credit and lead by example

• Perpetuate Teachers’ Forward enterprise strategy and our shared values: Inclusive, Performance-driven, Curious, Agile and Courageous.

• Seeking an experienced professional (10+ years of relevant experience) with substantive direct investing and risk-taking expertise in Asset Backed Financing. Specialization in one or more ABF sub-asset classes, including but not limited to non-agency residential mortgages (e.g., non-QM, RTL, RPL, 2nd Lien, HELOC), consumer credit (e.g., credit cards, auto, student, home improvement loans, BNPL) is highly valued. Buy-side principal risk-taking background is a plus.

• Must demonstrate strong analytical skills and a data-driven mindset. The ideal candidate will be comfortable performing hands-on, in-depth quantitative modeling and underwriting

• Demonstrate the drive and passion requisite to grow an impactful business, with a strong sense of ownership and accountability

• Must be a true team player who consistently demonstrates behaviors and attitudes that make the whole team stronger. We seek low-ego, high-integrity individuals who put the team’s success above personal recognition, listen and value diverse perspectives, show respect and empathy to colleagues, and embrace feedback as an opportunity to learn and grow

• Excellent communicator with the ability to express complex issues clearly and concisely, deliver key messages effectively, and negotiate constructively.

• Experienced in managing the full transaction lifecycle, from conducting commercial negotiations and due diligence through committee approval, legal documentation and closing

• Experience in negotiating financing arrangements (e.g., warehouse facilities) and structuring securitizations is a plus.

• Graduate degree in business, finance or a related field; CFA designation is an asset

#LI-JF1

What we’re offering

• Pay-for-performance environment that offers competitive salary and incentive

• Numerous opportunities for professional growth and development

• Comprehensive employer paid benefits coverage

• Retirement income through a defined benefit pension plan

• The opportunity to invest back into the fund through our Deferred Incentive Program

• A flexible/hybrid work environment combining in office collaboration and remote working

• Competitive time off

• Our Flexible Travel Program gives you the option to work abroad in another region/country for up to a month each year

• Employee discount programs including Edvantage and Perkopolis

At Ontario Teachers', diversity is one of our core strengths. We take pride in ensuring that the people we hire and the culture we create, reflect and embrace diversity of thought, background and experience. Through our Diversity, Equity and Inclusion strategy and our Employee Resource Groups (ERGs), we celebrate diversity and foster inclusion through events for colleagues to connect for professional development, networking & mentoring. We are building an inclusive and equitable workplace where our talent is respected, accepted and empowered to be themselves. To learn more about our commitment to Diversity, Equity and Inclusion, check out Life at Teachers'.

How to apply

Are you ready to pursue new challenges and take your career to the next level? Apply today! You may be invited to complete a pre-recorded digital interview as part of your application.

Accommodations are available upon request (peopleandculture@otpp.com) for candidates with a disability taking part in the recruitment process and once hired.

Candidates must be legally entitled to work in the country where this role is located.

Ontario Teachers’ may use AI-based tools to assist in screening and assessing applicants for this position. These tools may help us identify candidates whose skills and experience align with Ontario Teachers’ objectives by analyzing information provided in resumes and applications. Our use of AI does not replace human decision-making.

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Functional Areas:

Vacancy:

Current