Public Markets Co-op/Internship (Fall 2023 or Winter 2024) [Canada]

 

Closing date: June 1, 2023

The British Columbia Investment Management Corporation (BCI) is currently seeking Public Markets co-op students/interns for the Fall 2023 (September to December) and Winter 2024 (January to April) work terms.

The Public Equities group manages a global equity portfolio currently comprised of nearly half of BCI’s total portfolio utilizing both index and active management strategies. The group invests in Canada, the U.S., and internationally in both the developed and emerging markets. In addition, BCI is a leader in responsible investing actively integrating environmental, social and governance factors (ESG) into our investment analysis and decision making. Successful candidates will work in one of the following six (6) teams: Global Thematic Equities, Active Global Fundamental Equities, US Small Cap Equities, and Global Emerging Markets, Corporate Bond Fund, Canadian Large Cap Equities.

• Global Thematic Equities – The Thematic team utilizes a two-step process in our high conviction, and long-term focused investment strategy. The first step is to understand the macro change drivers that are influencing both consumer and corporate behaviours over the long term (for example, changes in society / demography, technology, economics, politics, and sustainability). Armed with this top-down understanding, as well as the value chains best positioned to benefit from these tailwinds, we conduct in-depth due diligence on global leaders to invest in the best positioned companies to create long-term shareholder value. As a co-op, you will have the ability to participate in management meetings, conduct in-depth company and/or industry research and present your findings to the group and influence investment decisions. The Team is looking for: Financial Modelling and Data Analysis

• Global Fundamental Equities – Active Equities Global Fundamental is a unique mandate at BCI to look at a concentrated portfolio of Global companies including mid-larger sized companies in the developed markets, from a bottom-up perspective. The strategy is underpinned by looking at Quality companies that trade at a reasonable valuation. This includes learning about what makes them great (and stay that way) as well as diving into valuation work to help inform our investment views. The experience would include hands on experience in gaining skills in equity research, financial modelling, and analyzing investments across various industries. We overall have an inclusive approach with a strong team with a learning mindset. The Team is looking for: Strong Passion for Investing, Critical Thinking, Strong Financial Modelling Skills

• US Small Cap Equities – The Internal US Small Cap fund is a long only mandate and comprised of 50-70 positions. The fund is designed to identify high-quality, growth companies that generate high rates of return and are expected to do so well into the future. Investment candidates employ rigorous screening and bottom-up analysis of US-based small and mid-capitalization companies to identify high quality candidates for portfolio inclusion. BCI’s investment analysis involves financial and qualitative analysis, meeting with senior management teams, research analysts, and industry experts with the goal of producing detailed research reports and financial models to support each investment thesis. BCI actively incorporates ESG as part of our investment diligence process. This Team is looking for: Strong Academic Performance, Work Experience, Learning Attitude

• Global Emerging Markets (GEM) – GEM team is the latest addition to BCI's Active Equities. We are looking to launch BCI's first internal active global emerging markets fund in 2022. Our objective is to capture Emerging Markets' growth over the long term and outperform MSCI EM benchmark on a risk adjusted basis through stock, country, and sector selection. We use a repeatable, fundamental, long-term investment process combining bottom-up and top-down analyses. We seek to invest in companies with quality managements, sustainable competitive advantages and profitable growth. This Team is looking for: Financial Modelling Skills, Passion for Emerging Markets, Attention to Detail, An ability to write and speak Mandarin would be a plus

• Canadian Large Cap Equities – The Canadian Large Cap team focuses on the SPTSX composite. We place a high focus on quality businesses at reasonable prices relative to their growth attributes, integrating the qualitative and quantitative very closely. We look to have great conviction in our holdings, to own them for the long-term, and maintain high concentration between those names within the portfolio. As the coop, you will work closely in our four-person team, get exposure to management meetings for some of the largest companies in Canada, support equity research, conduct discounted cash-flows analysis, get exposure to portfolio construction discussions, and much more. The Team is looking for: Strong passion to learn, Strong attention to detail

WHAT YOU NEED TO KNOW

BCI manages a globally diversified portfolio of assets valued at $211.1 billion and is one of Canada’s largest institutional investors. We invest globally to support pension and other funds for more than 30 clients based in British Columbia. We are proud to have been chosen as one of

Canada’s Top 100 Employers

and

BC’s Top Employers

. These national and provincial competitions recognize employers who offer exceptional workplaces for their employees.

The responsibility of the co-op student/intern is to support the analytical efforts of investment professionals in the Public Markets department to meet our clients’ return and risk objectives. This is a great opportunity to gain a broad understanding of financial markets, company and industry drivers, portfolio management techniques, and application of finance and economics concepts in an investment management setting.

DURING THE FOUR-MONTH INTERNSHIP, YOU CAN LOOK FORWARD TO:

• Training and mentorship to develop and enhance your finance and investment knowledge
• Exposure to different investment areas within public markets
• Hands-on, challenging projects with the required support to help you succeed
• Time to connect and build your network with other co-ops/interns and BCI professionals

WHAT YOU WILL BE DOING

Successful candidates can expect to work on various projects depending on their skill set and the group to which they are assigned. Examples may include:

• Working under the supervision of portfolio managers and analysts to assist with various projects
• Reading company and industry reports to build an understanding of sector/stock fundamentals
• Producing company initiations and/or credit reports as well as industry analysis (including comprehensive writeup, full financial model/valuation, buy/sell/hold recommendation, etc.)
• Presenting proprietary analysis and actionable recommendations to Investment Committees
• Documenting management meetings, providing a concise summary of the key takeaways
• Assisting the ESG Integration team with data collection, research, modeling, proxy voting, etc.
• Supporting the Partnership Portfolio team with external manager evaluation, monitoring, etc.
• Ad hoc/special projects assigned by the teams (e.g., industry, country or portfolio analysis)

REQUIRED SKILLS

• Students in an undergraduate or graduate program with a preference for those in Business (Finance) or Economics
• Passion for investing and a drive to continually learn about financial markets
• Ability to communicate clearly and concisely, both verbally and in writing
• A high level of professionalism and interpersonal skills
• Strong research skills combined with analytical and problem-solving abilities
• A fundamental knowledge of finance, accounting, business and investment-related disciplines
• Experience in developing financial models is considered an asset
• Ability to use Excel, PowerPoint, Word, and Outlook; Bloomberg and VBA experience is an asset

WHAT WE OFFER

• A week-long intensive bootcamp to kick off your work term with lessons on financial modeling and credit analysis amongst other topics, presented by industry leading professionals
• Excellent career development and training by helping the candidate to understand the tools, the data and the methodologies applied by financial institutions to manage their risk
• Work with a dynamic team in a fast-paced environment
• The chance to do work that will challenge and stimulate you
• The development of real-world skills at one of the largest institutional investors in Canada and the world
• Exposure to some of the most talented, approachable, and inspiring people in the finance industry
• The ability to opt-in for access to

  Dialogue

  , a user-friendly app that offers virtual primary care, employee and family services, and mental health supports
• 2 paid days per year for volunteering
• BCI investment professionals lead a monthly Investment Club to share industry knowledge with employees who work in other departments

THE DETAILS

• Work term: Fall 2023 (September to December) OR Winter 2024 (January to April)
• Department: Public Markets
• Office Location: 750 Pandora Avenue, Victoria, BC
• Spend your off hours exploring beautiful Victoria and Vancouver Island
• Travel: if coming to Victoria for this work term, BCI will provide a fixed-rate travel allowance based on your location

HOW TO APPLY

• Apply directly to the Public Markets Co-op/Internship (Fall 2023 or Winter 2024) posting on our careers page

  https://bci.wd10.myworkdayjobs.com/BCI_Careers
• Application deadline: June 1, 2023 at 11:59 pm PT
• Please include a cover letter, resume, and transcripts (unofficial transcript will suffice) in PDF format in your Workday application
• We will be hiring on a rolling basis
• Note: The ability to legally work full-time in Canada for the duration of your work term is a condition of employment at BCI

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

hr@bci.ca

.

We would like to hear from you!