Director, Quantitative Investment Research

Opportunity Overview

Economics & Investment Research (E&IR) at AIMCo is the internal team dedicated to delivering rigorous macro and investment research. Our mission is to assist senior leaders, including the Chief Investment Officer and investment committees, in making well-informed decisions about capital allocation. We combine data-driven analysis, expert judgement, and cutting-edge tools to achieve this aim.

Role Summary

Reporting to the Chief Economist and Head of E&IR, the Director, Quantitative Investment Research serves as the senior quantitative expert within the team. This leadership position entails owning the analytical frameworks for portfolio construction, risk budgeting, and asset allocation. You will develop systematic tools that convert these frameworks into actionable insights for the CIO and committees on a recurring basis. This role involves significant hands-on coding and data analysis along with translating complex results for broader audiences. Additionally, you will mentor quantitative analysts and establish research priorities and standards.

Key Responsibilities

• Lead advisory quantitative frameworks guiding total portfolio construction, risk optimization, and scenario-based capital allocation in collaboration with the CIO office.
• Design and assess macro-driven portfolio positioning strategies and translate regime changes into defensible allocation recommendations.
• Model and forecast systematic risk factors across asset classes, quantifying the cost implications of top-down views.
• Develop and maintain frameworks for benchmarking, currency hedging, and liquidity controls.
• Create capital market assumptions and connect them analytically to portfolio outcomes, including private market holdings.
• Account for real-world constraints such as illiquidity, pacing, funding, and governance requirements in portfolio modeling.
• Build and manage systematic tools supporting the Tactical Asset Allocation Committee, including regime models, valuation/momentum metrics, positioning trackers, and risk dashboards.
• Standardize the production of cycle-based quantitative reports to facilitate informed discussion focused on judgement.
• Present probabilistic scenarios with clear indication of consensus and uncertainty.
• Co-develop scenario narratives with E&IR and Risk colleagues to expose shock transmission processes and primary exposure targets.
• Conduct backtests and stress tests on tactical recommendations, documenting evidential support and limitations.
• Maintain an objective scorecard of tactical outcomes and model performances, integrating lessons into ongoing processes.
• Develop and apply top-down macro risk analytics, including scenario and tail-risk assessment spanning public and private assets.
• Partner closely with Risk Management and Portfolio teams to analyze risk concentrations, regime vulnerabilities, and marginal risk-return tradeoffs.
• Oversee the E&IR quantitative infrastructure: data pipelines, research environments, code standards, documentation, and reproducibility.
• Establish rigorous model governance practices including validation, benchmarking, version control, and review to ensure decision-grade reliability.
• Apply AI and large-language-model tools judiciously to accelerate research and manage macro/market information within a governed framework.
• Collaborate with Risk Management, IT, and asset teams on data sourcing and integration to prevent redundant development.
• Mentor quantitative analysts and uphold high technical standards within the team.
• Communicate quantitative insights effectively to both technical and non-technical senior stakeholders including CIO and committees.
• Influence decisions through analytical rigor and foster constructive challenge with portfolio managers and asset owners.

Candidate Profile

• Minimum 10 years' experience in total portfolio strategy, asset allocation, multi-asset portfolio construction, or investment risk analytics within asset owners, managers, banks, or hedge funds.
• Advanced degree (PhD, MFE, MSc, or equivalent) in a quantitative discipline such as mathematics, statistics, physics, financial engineering, econometrics, or computer science.
• Deep expertise in portfolio theory, factor risk modeling, asset pricing, and portfolio optimization.
• Proficiency in applied econometrics and time-series analysis methods including regime and volatility modeling, along with sound understanding of out-of-sample limitations.
• Strong Python programming skills combined with best practices in version control, testing, documentation, and reproducible research.
• Proven experience influencing senior leaders, investment committees, and boards with impactful quantitative advice.
• Resilience in maintaining evidence-based views under challenge, and openness to revise conclusions when warranted by data.

Desirable Qualifications

• Experience at large asset owners with total portfolio responsibilities rather than single strategy focus.
• Knowledge of private market assets in portfolio risk context including stale price adjustments, liquidity modeling, and capital assumptions.
• Track record building decision-support tools for investment committees beyond research publications.
• Familiarity with optimization solvers and cloud research infrastructures.
• Experience in macro strategy research, including regime modeling, nowcasting, or factor construction.
• Demonstrated practical application of AI/LLM tools in research or analytics environments.
• Management experience; professional designations such as CFA, FRM, or CAIA are assets.

Technical Environment

Technical tools include Python, SQL, Git, Databricks, risk systems such as BlackRock Aladdin and MSCI BarraOne, Bloomberg, Macrobond, and reporting platforms like Power BI, Tableau, Streamlit, or Dash.

First Year Success Metrics

• Consistent, documented monthly quantitative reporting provided to the Tactical Asset Allocation committee and actively utilized.
• Reproducible total portfolio risk decompositions and scenario analyses delivered on demand versus ad hoc assembly.
• At least one portfolio construction framework transitioned from prototype to impactful production use.
• An honest, maintained scorecard of tactical decisions is available and informs discussions.
• Research code and analyses are version-controlled, well documented, and reproducible by others.

Location & Work Model

This role is based in Calgary, Alberta and operates in a hybrid work model with currently three days in-office required.

Additional Information

Application Deadline: September 26, 2026 (11:59 pm MST)

Final candidates will undergo security screening including credit and criminal background checks acceptable to AIMCo. Beware of fraudulent postings demanding application fees or excessive information; only official postings appear on AIMCo's career website.

AIMCo fosters an inclusive workplace valuing diversity, well-being, and purposeful work contributing to long-term value for clients and beneficiaries.