Associate/AVP, External Managers, Portfolio Construction and Risk - Macro, Fixed Income and Credit

GIC is one of the world's largest sovereign wealth funds. With over 2,000 employees across 11 locations around the world, we invest in more than 40 countries globally across asset classes and businesses. Working at GIC gives you exposure to an extraordinary network of the world's industry leaders. As a leading global long-term investor, we Work at the Point of Impact for Singapore's financial future, and the communities we invest in worldwide.

External Managers Department

The External Managers Department identifies and builds relationships with leading global investment managers to access differentiated investment capabilities and generate sustainable, risk-adjusted returns for GIC. We take an active, research-led approach to manager evaluation, portfolio construction, and risk management. Our work combines investment judgement, quantitative analysis and long-term manager partnerships to build resilient portfolios of external managers.

What impact can you make in this role

You will join the team responsible for constructing and managing GIC's hedge fund portfolios, with a particular focus on macro, fixed income, and credit strategies.

Working at the intersection of manager evaluation, portfolio construction, and investment risk, you will assess how managers generate returns, identify potential vulnerabilities, and evaluate how strategies interact within the broader portfolio. Your analysis will inform manager evaluation, portfolio allocation, monitoring and risk-management decisions.

Within your first 6-12 months, you will be expected to develop a strong understanding of the relevant managers and portfolios, independently own assigned analytical and monitoring workstreams, produce decision-ready performance and risk insights, and improve the tools, reports or data processes supporting investment decisions.

This role offers the opportunity to:

• Work with leading hedge fund managers and investment strategies globally.
• Develop experience and knowledge across a range of alternative investment strategies within an institutional portfolio (with emphasis on macro, fixed income, and credit strategies).
• Address complex investment questions by combining qualitative judgement with quantitative analysis.
• Contribute directly to discussions with senior management and investment professionals on portfolio allocation, construction, and risk-management decisions.
• Research and develop analytical tools and frameworks that improve the quality and depth of investment decision making.

What will you do

• Evaluate hedge fund managers and strategies by integrating quantitative analysis, qualitative assessment and an understanding of underlying return and risk drivers with a view to develop clear recommendations as it relates to allocation, sizing or other risk-mitigation actions.
• Monitor manager performance, exposures, and portfolio developments, identifying material changes in risk or the investment thesis.
• Analyse how managers and strategies contribute to aggregate portfolio performance, diversification, factor exposure, correlation, and tail risk.
• Contribute to the development and implementation of portfolio construction, risk-management, and governance frameworks.
• Build and enhance analytical tools, dashboards, reports and databases using MS SQL and programming languages such as Python, VBA or R.
• Collaborate and engage with other investment professionals responsible for manager sourcing, due diligence, selection, and relationship management, integrating portfolio and risk perspectives into investment decisions.

What qualifications or skills should you possess for this role

• Four to six years of relevant experience in fund allocation, investment risk management, capital markets, or investment management.
• Demonstrated experience conducting quantitative and qualitative analysis of funds, investment strategies or underlying securities and developing sound investment recommendations.
• Strong interest in hedge fund investing and working knowledge of major hedge fund strategies and the broader manager landscape.
• Experience with fixed income, currencies, credit and commodities instruments from a research, structuring, or trading perspective
• Strong understanding of investment performance and risk measures within a portfolio and the interaction between investment strategies, leverage, liquidity, concentration and tail risks within a portfolio.
• Practical knowledge of statistics and the ability to leverage complex or incomplete data to form hypothesis and draw inferences.
• Hands-on experience using MS SQL, Excel and at least one relevant programming language, such as Python, VBA or R.
• The ability to communicate a clear thesis supported by complex analysis clearly to an audience of investment professionals with different levels of quantitative expertise.
• Independent and critical thinking, with the objectivity to challenge assumptions, manager narratives, and established portfolio views where supported by evidence.
• Strong attention to detail and a commitment to accuracy in data, analysis, modelling, and senior management reporting.

Direct experience in hedge fund allocation, external-manager due diligence or multi-manager portfolio construction would be advantageous. Exposure to global macro, fixed-income relative value, credit long/short, structured credit or multi-strategy investing would also be beneficial.

Work at the Point of Impact
We need to be forward-looking to attract the right people to help us become the Leading Global Long-term Investor. Join our ambitious, agile, and diverse teams - be empowered to push boundaries and pursue innovative ideas, share your views, and be heard. Be anchored on our PRIME Values: Prudence, Respect, Integrity, Merit and Excellence, which guides us in how we make our day-to-day decisions. We strive to inspire. To make an impact.

Flexibility at GIC
At GIC, our offices are vibrant hubs for ideation, professional growth, and interpersonal connection. At the same time, we believe that flexibility allows us to do our best work and be our best selves. Thus, our teams come into the office four days per week to harness the benefits of in-person collaboration, but have the flexibility to choose which days they work from home and adjust this arrangement as situational needs arise.

GIC is an equal opportunity employer
GIC is an equal opportunity employer, and we value diversity. We do not discriminate based on race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.

Please email [Confidential Information] at any point of the application or interview process if adjustments need to be made due to a disability.

Learn More
Learn more about our External Managers Department here: https://gic.careers/group/external-managers-department/
To be considered for the role, please submit a formal application through the GIC Careers site at
https://careers.gic.com.sg/job-invite/16656/