AVP, Portfolio Manager - Portfolio Construction, Portfolio Engineering and Solutions

GIC is one of the world’s largest sovereign wealth funds. With over 2,000 employees across 11 offices 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.

Portfolio Execution & Solutions Group​

We have teams in Singapore, London and New York, and we provide a full spectrum of services for the Total Portfolio. These include trading and structured advisory, funding and liquidity management, securities lending, beta management, portfolio rebalancing, applied quantitative research, and counterparty relationship management. We also deliver systematic portfolio solutions and innovation, such as portfolio construction techniques and tail-risk management, to strengthen total portfolio construction and resilience.

Portfolio Engineering & Solutions

You will be part of a team that engineers systematic, cross-asset solutions with a Total Portfolio and ownership mindset. The team comprises Portfolio Construction & Convexity, EQ Solutions, Cross-Asset Solutions and Solutions Research.

What will you do as a Portfolio Manager?

You will turn the portfolio's objectives, capital market assumptions, factor views, risk appetite and constraints into target allocations and rebalancing recommendations.

• Contribute to the development and maintenance of the PC framework used to manage the team's various portfolios, considering trade-offs between return, risk, drawdown and liquidity:
  • Design, document and maintain the PC framework. This covers objective functions, risk measures, how constraints are set up and how the total portfolio links to its sub-portfolios (asset class, strategy, mandate).
  • Make sure sub-portfolios are built consistently with the total portfolio. This includes risk budgets, how factor exposures add up, overlapping mandates and the role of completion or balancing portfolios.
  • Set standards for input estimation (expected returns, covariance and factor models, shrinkage, regime dependence) and for robustness analysis, such as parameter uncertainty and out-of-sample validation.
  • Set standards for systematic strategy construction, including statistical techniques to detect and mitigate the risk of overfitting.
  • Work with sub-portfolio teams to calibrate and roll out the framework, challenging their PC choices where needed.
  • Present portfolio construction recommendations, research findings and risk insights to senior management and investment committees in clear, decision-ready papers and presentations, turning complex quantitative analysis into practical conclusions for non-technical audiences.
• Lead the team's portfolio construction research effort, including:
  • • Robust and Bayesian extensions of mean-variance optimisation
    • Risk budgeting, risk parity and CVaR- and drawdown- based optimisation
    • Multi-period and dynamic allocation and rebalancing
    • Treatment of real-world frictions: transaction costs, turnover, liquidity, non-normal returns and smoothed private-market valuations

• Contribute to the development and maintenance of systematic portfolio rebalancing frameworks, considering transaction costs and the underlying strategies' risk and return characteristics.
• Monitor risks in the team's portfolios (e.g. volatility, CVaR, market betas, factor exposures, leverage and risk contributions vs. budgets) and conduct forward-looking scenario analysis to identify and hedge any outsized portfolio risks.

What qualifications or skills should you possess in this role?

• PhD (preferred) or Master's degree in a quantitative discipline such as Mathematics, Statistics, Operations Research, Physics, Engineering or Financial Engineering from a leading university.
• Preferably 2–5 years of experience, with a successful track record of leading portfolio construction efforts at a top-tier investment fund.
• Proven ability to formulate optimisation problems, design constraints and diagnose unstable solutions, and to apply risk decomposition and budgeting, scenario analysis and stress testing. Solid understanding of multi-asset portfolios, including derivatives; exposure to private markets is a plus.
• Strong coding skills in Python (or R) and SQL, including hands-on use of optimisation libraries and solvers. Experience writing production-quality; familiarity with AI/ML and LLM tools is a plus.
• Excellent written and spoken English, with the ability to present complex ideas clearly and succinctly to senior decision-makers and non-technical audiences, and to influence and collaborate effectively across teams.
• Highly detail-oriented, rigorous and self-motivated, with intellectual curiosity, the confidence to challenge constructively and a strong commitment to delivering high-quality work.

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 
As an employer, we passionately believe every individual brings with them unique diversity of thought and perspectives to meaningfully enrich perspectives of GIC teams to drive competitive performance. An inclusive environment yields exceptional contribution.

Learn more about our Portfolio Execution and Solutions Group Department here:

https://gic.careers/departments/portfolio-execution-solutions-group/