Analyst, Financials (Equity Research)

ABOUT US

We’re one of Canada’s largest pension investors, with CAD$320.6 billion of net assets as of March 31, 2026.

We invest funds for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong.

Capturing and leading complex global investments requires us to work as one to seize valuable opportunities, in close collaboration with some of the world’s top companies. At PSP Investments, you’ll join a team of motivated and engaged professionals, dedicated to propelling our organization further than ever before.

At PSP, three values guide our day-to-day work: we embody the mission by aligning the way we work with the needs and expectations of the people we serve; we excel together by joining forces to achieve exceptional results; we are accountable by demonstrating our intentions through our actions.

What if your new chapter started here?

ABOUT THE TEAM

The Fundamental Research Platform is a team of sector specialists providing bottom-up research on the public markets where PSP invests, primarily for its internally managed active equities strategies. Within it, our Financials team is expanding its coverage across Canada, Japan and emerging markets, and we're looking for a rigorous, detail-oriented analyst who is curious about how financial companies create value.

You will join the Financials sector team and report to a team leader who will support your growth and help you manage competing priorities across portfolios. You will start by supporting senior researchers on the team's most important work, likely on Canadian and Japanese banks and financial services companies, and collaborate with portfolio managers across our Canada, Japan and emerging markets strategies. As your expertise and the team's trust grow, you will take ownership of a small group of companies and shape your own investment views.

ABOUT YOUR ROLE

As an Analyst, Financials (Equity Research), you’ll:

• Help maintain the team’s coverage by building and updating financial models, keeping key operating data and comparables current, and preparing analysis around company results. You will learn to focus on the few drivers that matter most to earnings, capital and valuation.
• Take on research and diligence questions from the team leader and portfolio managers, deliver accurate, well-sourced work on agreed timelines, and flag early when a finding may change the investment view
• Learn companies in depth by reading filings, transcripts and investor materials, attending meetings and conferences, and understanding what drives value and risk for banks, insurers and asset managers in different markets
• Over time, take responsibility for a small number of companies, develop investment theses that separate business quality from valuation, and present recommendations to the team
• Help the team work more efficiently by automating repetitive tasks and keeping its data and models in good order

This role involves some travel to conferences and company meetings.

Using AI at PSP

We expect analysts to use approved AI tools where they improve the work, within PSP’s governance and confidentiality standards, to analyze filings and transcripts, reconcile data and accelerate routine analysis.

What matters most is judgment: knowing where these tools help, where they fail, and how to verify their output.

WHAT YOU’LL NEED

• Typically, two (2) to five (5) years in buy-side research, sell-side equity research, investment banking or similar analytical work. Experience with financial companies is an advantage
• Solid financial modeling skills and a good understanding of financial statements
• Proficiency with Excel, Bloomberg and a financial-data platform (Capital IQ, FactSet or similar)
• Clear written and verbal communication
• Curiosity: the habit of asking why a number moved, not only what it is
• Accuracy and attention to detail
• The ability to manage several priorities at once
• A collaborative approach, and the ambition to grow into owning coverage
• An undergraduate degree in a relevant field
• Progress toward the CFA designation is an asset
• Working knowledge of Japanese is an asset
• Bilingualism: English and French (frequent interactions in English with PSP employees based in our offices in Hong Kong, London and New York, and interactions in French with employees in our local offices in Montreal and Ottawa)

We offer a tailored employee experience and competitive total rewards and benefits package* designed to attract and retain global diverse talent, reward performance, and reinforce business strategies and priorities. Beyond salary and incentive pay eligibility, you have access to:

• Investment in career development
• Comprehensive group insurance plans
• Competitive pension plans
• Unlimited access to virtual healthcare services and wellness programs
• Gender-inclusive paid family leave policy: up to 26 weeks for primary caregivers, 5 weeks for secondary caregivers
• A personalized family-building support, from pre-pregnancy to menopause, with available financial assistance
• Vacation days available on day one with additional days on milestone service anniversaries, and summer Friday afternoons off
• A hybrid work model that includes four in-office days, Monday through Thursday
• The opportunity to work temporarily from another location in accordance with the applicable policy

*Benefits package may vary based on your employee type.

At PSP Investments, we aim to provide a workplace where everyone feels valued, safe, respected and empowered to grow. As part of this leadership commitment, we strongly encourage applications from all qualified applicants and strive to offer an inclusive and accessible candidate experience. If you require any accommodation for any part of the recruitment process, please let us know.

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