Associate, Private Debt

Closing Date: December 19, 2024

PUBLIC MARKETS

BCI is recruiting for an Associate level employee to join the Private Debt team in Victoria, B.C.  BCI is one of Canada’s leading institutional investors, with ~$250bn of AUM. BCI’s PD team manages ~$16.1bn in assets and invests in private middle market (direct/co-invest/club) and syndicated loans in Canada, US, Europe, and Asia.

The application process will be open until December 19, 2024. We anticipate screening interviews in early January.

Reporting to the Managing Director, the Associate plays a key role in evaluating and managing private debt investments and external fund commitments. The Associate’s activities include screening, diligence and supporting the execution of new investments, ongoing monitoring of existing investments, participating in various projects, and staying abreast of trends in loan markets.

Must have:

• A relevant undergraduate/graduate university degree

• Between 2-3 years of experience in private debt, investment banking, M&A, private equity, management consulting, deal/financial advisory or rating agencies

• Decisiveness and the ability to form and defend independent credit opinions

• Strong financial modeling, research and analytical skills

• Sound judgment and the ability to work independently

Preferred:

• Experience with leveraged loans, middle market debt and/or high yield bonds

• Experience or knowledge of credit documentation and structure

The Public Markets group manages a portfolio of fixed income, equity and absolute return investments representing approximately $147 billion utilizing both index and active management strategies. The group invests in Canada, the U.S. and internationally in both the developed and emerging markets. Assets are managed using both internal management and external managers. The group uses a diverse mix of financial instruments including bonds, equities, and derivatives. In addition, the group is a leader in responsible investing, actively integrating environmental, social, and governance factors into our investment analysis and decision-making.

The Principal Credit (Private Debt) Fund was launched in April 2018 and manages approximately $16.1 billion in assets. The Fund has a non-investment grade global mandate but will primarily invest in U.S. companies. The portfolio is expected to grow significantly over the coming years, with an increased emphasis on direct investments.

Investment Analysis and Execution

• Conducts fundamental industry and company research on both public and private entities

• Writes effective deal alert and investment memorandums. Delivers persuasive oral and written investment recommendations and rationale to the Private Debt Investment Committee

• Synthesizes findings, key analysis and supporting documents in an organized and documented manner

• Works as an integrated part of deal teams, supporting the diligence of commercial, financial, tax, legal and ESG aspects of prospective investments

• Interacts effectively with third party advisors as well as with BCI internal groups (e.g., Legal, Tax, Risk)

Portfolio Monitoring and Oversight

• Monitors assigned investments, identifying relevant opportunities and risks including tracking/evaluating performance metrics, ongoing review against original investment thesis, ongoing strategic fit, significant changes impacting the company, valuation issues and industry developments

• Supports the development of tracking tools and processes to ensure sustained long-term portfolio returns

• Systematically develops objective and rigorous views on the long-term health and risk of companies within the portfolio

Work from our downtown Victoria office. We are an in-person collaborative organization with the flexibility to work remotely 1-day a week.

BCI offers a competitive total rewards package which includes a performance-based incentive plan, comprehensive health & dental benefits, a defined benefit pension plan and paid time off.

The annualized base salary range for this Victoria-based role is CAD $109,000 - $135,000.

The base salary offered to the successful candidate will consider a wide array of factors including but not limited to the individual’s skill set, level of experience applicable to the role they are being offered and consideration to internal equity.

We pay our people competitively in the markets in which we operate and with consideration to internal equity and job structure. We aim for actual pay to be around the median of the market for target or expected levels of performance, and around the upper quartile of the market for excellent performance.

With our values as our anchor, it’s our people that help shape employee-focused initiatives and who create the environment we work in each day – all of which further strengthens our culture. BCI has been recognized as one of Canada’s Top 100 Employers – for the SIXTH consecutive year – and has built programs and benefits to support all our employees, including;

• Extended health and dental coverage, start on your first day of work. We have you covered!

• Our telehealth provider Dialogue connects you and your family to virtual healthcare appointments

• Participation in the defined benefit BC Public Service Pension Plan providing a secure retirement income

• Time off includes: 20 days’ vacation, 6 paid sick days, 6 paid personal days, and 2 paid days for volunteering – to support physical, mental, and community health

• Annual wellness allowance to support an active lifestyle and physical well-being

• On-going learning through our in-house mentoring program, professional dues support and online and in-house learning

• Relocation support is available if a move to one of BCI’s locations is required

• Invested in your learning: BCI investment professionals lead a monthly Investment Club to share industry knowledge with employees who work in other departments

At BCI, we value diversity and believe in fostering an inclusive culture where all employees can be successful.

We are performance and client focused and value integrity; if you share these values, we want to know you.

We recognize that some skills can be learned on the job and encourage all to apply.

If you require an accommodation for the recruitment process (including alternate formats of materials, accessible meeting rooms or other accommodations), contact us at [email protected].

We would like to hear from you!