2027 CFO, Winter HQLA Portfolio Management Intern – Co-op (4 Months)

About the role

This four-month Toronto co-op places a student with RBC’s Corporate Treasury Liquid Asset Portfolio team, supporting management of a $90 billion HQLA portfolio. The role offers hands-on exposure to fixed income portfolio management, rates strategy, institutional asset allocation, market analysis, reporting, and portfolio operations.

Responsibilities

• Assist Portfolio Managers with daily fixed income portfolio management, investment decisions, and positioning discussions.
• Prepare market commentaries on rates, spreads, and macroeconomic themes affecting HQLA portfolios.
• Monitor rates, credit spreads, and macroeconomic trends, translating findings into actionable investment insights.
• Build and maintain strategy meeting decks for senior stakeholders, including structure, narrative, and data visualization.
• Support portfolio performance reporting, benchmarking, end-of-day processing, reconciliations, and limit monitoring.
• Collaborate with Risk, Product Control, and Accounting on limits, hedge accounting structures, and financial controls.

Required Qualifications

• Complete at least second year of an undergraduate degree, preferably in finance, accounting, economics, computer science, statistics, or engineering.
• Demonstrate intellectual curiosity about capital markets and a genuine interest in fixed income and interest rates.
• Use Excel proficiently and apply strong analytical skills to interpret data and develop clear viewpoints.
• Communicate effectively in writing and verbally, producing polished, audience-ready content for senior stakeholders.
• Maintain high attention to detail while managing multiple priorities in a fast-paced environment.
• Show initiative and willingness to direct learning beyond assigned responsibilities.

Preferred Qualifications

• CFA enrollment or completion of the Canadian Securities Course or Conduct and Practices Handbook is an asset.
• Programming skills in Python, including data-analysis libraries, and SQL database management are advantageous.
• Understanding of fixed income, interest rates, duration, spread analysis, and HQLA frameworks such as LCR and NSFR.
• Familiarity with the Bloomberg terminal is preferred.
• Exposure to IFRS or US GAAP, hedge accounting, or Volcker Rule or Regulation W compliance is beneficial.
• Prior capital markets, portfolio management, or financial analysis experience is an asset.

Student Eligibility

• Return to school after the work term, or require the full work term as a mandatory graduation component.

Work Environment

• Toronto-based, full-time co-op position with 37.5 working hours per week.
• Work alongside experienced Portfolio Managers in a market-facing Corporate Treasury team.
• Development is supported through coaching and management from leaders.