Sr. Principal/Principal (Asset Management), Infrastructure & Renewable Resources

About BCI

British Columbia Investment Management Corporation (BCI) offers an exceptional opportunity to work at a world-class organization while living in a west coast setting. With $233 billion of gross assets under management, BCI is the provider of investment management services to British Columbia’s public sector. We invest globally across a range of asset classes and strategies in public and private markets. BCI generates the investment returns that help our British Columbian public sector clients build financially secure futures.

The people who work at BCI are committed, passionate, and approachable. They aim for continuous improvement and share BCI’s core values of clients first, performance focused, world class, accountability, transparency, and integrity. Being recognized as one of Canada’s Top 100 Employers, Canada’s Top Family-Friendly Employers and BC’s Top Employers exemplifies BCI’s ongoing commitment to be a progressive workplace of choice; one that attracts, retains, and promotes talent so that we can continue to work towards meeting our clients’ financial goals. As an active in-house asset manager, BCI depends on specialized skills and expertise to successfully execute its world-class investment strategies and fulfill client needs. We are currently expanding our team and our skill base to equip BCI for the future.

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DEPARTMENT DESCRIPTION

On behalf of BCI’s clients, the Infrastructure & Renewable Resources (I&RR) team invests globally in private infrastructure businesses that provide stable long-term results. BCI’s I&RR portfolio has $20+ billion in AUM and ranks as the ninth largest institutional infrastructure investor globally. The portfolio spans a range of sectors including energy, transport, utilities, and data infrastructure as well as tangible assets in timberland and agriculture.

I&RR seeks meaningful investments in private companies enabling an active governance approach. The team invests in a variety of capacities including as a sole sponsor, co-investor, and very selectively through externally managed funds. In these capacities, the team seeks to take an active oversight role built on a foundation of trusted relationships with all stakeholders and a commitment to long-term value creation.

POSITION DESCRIPTION

The Sr. Principal/Principal supports the asset management activities for the ever-growing portfolio of investments in the Infrastructure and Resources space. The Sr. Principal/Principal plays a key role in protecting, growing, and realizing the value of the portfolio by a) actively engaging with management teams, other shareholders and advisors on issues confronting individual companies, b) building and leading processes to ensure sustained progress across the entire portfolio within BCI, and c) supporting the BCI investment making process for new investments and Portfolio Company M&A.

The Sr. Principal/Principal also supports due diligence activities for prospective investments by leading specific workstreams and helping direct junior resources.

The Sr. Principal/Principal develops rigorous and independent insights into the ongoing performance of BCI’s large direct investments. These insights would be advanced toward action through an ability to build highly collaborative relationships with a range of stakeholders including deal team leaders, investee company executives and Board members. Above all else, the Sr. Principal/Principal brings a long-term value investing mindset with excellent interpersonal and communication skills.

QUALIFICATIONS

Must have:

• Minimum 4-8 years of experience in the investment management profession (preference for institutional investment experience), transaction advisory, private equity investments, investment banking, management consulting, or corporate development
• Excellent interpersonal skills: i.e., a proven ability to build lasting trust-based relationships with a wide variety of stakeholders
• Personal drive: i.e., a track record of taking initiative to maximize impact
• Excellent communication skills, clarity and concision in writing and speaking, driven by structured thinking
• Strategic thinking: i.e., the ability to build the ‘big picture’ from an understanding of elementary business drivers, and strong critical thinking to allow them to succeed within ambiguity
• Cultural fit; i.e., a low ego, approaches long term challenges with patience and humility, prioritizing knowledge and consultation
• Strong organizational skills

Preferred:

• Experience in or knowledge of infrastructure investments

PRIMARY RESPONSIBILITIES

Portfolio Company Support

• Ensure appropriate governance structures and processes are in place at portfolio companies
• Evaluate and help develop strategies, investment recommendations, budgets, and compensation schemes, as well as addressing other key issues confronting Board and management teams
• Support Boards with analysis of industry and company specific issues, focusing on findings that are material to long-term value and actionable by management in a pragmatic way
• Size and prioritize strategic initiatives, and support their pursuit directly with management and through external advisors

Portfolio Monitoring & Oversight

• Support the productive use and evolution of tracking tools and processes to ensure sustained long-term returns and delivery of value creation initiatives
• Systematically develop objective and rigorous views on the long-term health and potential of companies within the portfolio
• Facilitate discussions to prioritize issues and interventions, advancing teams towards action by developing focused analyses and synthesizing implications as required
• Build a body of knowledge and institutional positions on recurring asset management issues
• Build thematic views on key sectors of interest to the I&RR team that will lead to deeper understanding of the space and drive potential investment opportunities

Due Diligence

• Work as an integrated part of deal teams, supporting the diligence of commercial, governance, human resource, and ESG aspects of prospective investments
• Prepare due diligence questions for prospective investments and scope for external advisors
• Synthesize findings as key drivers and scenarios for valuation models as well as in preparation of executive-level investment memos and presentations

WHERE YOU WILL WORK

• Work from our downtown Victoria office

SALARY RANGE

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 the Victoria-based Principal role is CAD $126,000 to $155,000.

The annualized base salary range for this Victoria-based Senior Principal role is CAD $147,000 to $175,000.

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 compete for talent 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.

Actual salaries may vary and may be above or below the range based on various factors, including, but not limited to, experience and expertise.

WHY APPLY TO JOIN BCI

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 fifth 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
• Eligibility to the defined benefit BC Public Service Pension Plan providing you with 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
• Work one day per week from home, plus an option to work from anywhere for up to one month each calendar year
• Annual wellness allowance provided to support an active lifestyle and promote physical well-being while working from home
• On-going learning through our in-house mentoring program, professional dues support, tuition reimbursement, 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

TO APPLY

Apply online with a copy of your resume. We encourage timely submissions of applications as candidates will be actively reviewed and the interview process may advance earlier.

CLOSING DATE: February 11, 2024

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!