About Us:

With $295.0 billion of gross assets under management, as of March 31, 2025, British Columbia Investment Management Corporation (BCI) is the provider of investment management services for British Columbia’s public sector and one of the largest asset managers in Canada. BCI seeks investment opportunities around the world and across a range of asset classes that convert savings into productive capital. Our investment returns play a significant role in helping our institutional clients build a financially secure future for their beneficiaries.

Headquartered in Victoria, British Columbia, and with teams spanning Vancouver, New York, London, and Mumbai.

BCI integrates environmental, social, and governance (ESG) factors into all investment decisions to meet clients' risk and return requirements. Our people shape employee-focused initiatives, creating a strong culture. To learn more about our culture and values, visit our BCI Values in Action page.

POSTING CLOSE DATE:

April 12, 2026

THE OPPORTUNITY

Based in Victoria, BC, the Associate, Credit Risk Management brings specialized expertise in asset-based financing and structured products to BCI's Investment Risk branch. This impactful role will be the dedicated credit risk advisor to a growing private debt program, bringing independent analytical depth to every stage of the transaction and portfolio lifecycle.

We are looking for a forward-thinking credit professional who identifies risks as they emerge, understands complex deal structures, and brings both sharp analytical instincts and methodological rigour to back them up.

In this role, you will develop and maintain rating methodologies, conduct independent credit analysis on live transactions, and contribute to portfolio-level risk oversight for a sophisticated and growing asset base.

WHO YOU WILL WORK WITH

The Associate, Credit Risk Management sits within the Investment Strategy & Risk (ISR) department, on the Investment Risk team, and reports to the Senior Manager, Credit Risk Management.

ISR plays a central role in setting, implementing, and monitoring the long-term investment strategies of BCI’s clients. Working across clients, management, and asset classes, the department helps define the optimal path to achieving client outcomes. ISR is comprised of four branches:

• Strategic Asset Allocation advises clients on investment policies required to meet their objectives within defined risk tolerances, supported by macroeconomic research and proactive client communication.

• Total Fund Management advises the CIO on portfolio efficiency by centralizing capital flow functions, setting benchmarks, and aligning client policies with BCI’s business plans.

• Investment Risk focuses on measuring and managing asset class, total portfolio, and client investment risks, enabling asset classes and clients to identify, assess, and pursue opportunities within established risk parameters.

• Growth & Investment Solutions supports BCI’s growth ambitions by developing new client relationships and delivering new investment partnerships that benefit existing clients.

WHAT YOU BRING

• Degree in Finance, Economics, Commerce, Mathematics, or a related discipline

• 6+ years in credit risk, investment analysis, or a related field, ideally with exposure to private markets

• Deep knowledge of credit analysis in asset-based finance, including whole loans and structured products

• Experience applying major rating agency methodologies (S&P, Moody's, Fitch, DBRS, and/or KBRA)

• Ability to analyze financial structures, covenant packages, and security arrangements

• Strong financial modelling and scenario analysis skills; advanced Excel

• Experience using AI tools to support analytical work

• Clear, compelling communicator, written and verbal, with the ability to present complex risk findings to senior stakeholders

Preferred:

• Bloomberg and Capital IQ proficiency

• SQL and Power BI experience

• Knowledge of IFRS/ASPE/GAAP accounting standards

• Background at a credit rating agency, bank, pension fund, or asset manager

• CFA, FRM, PRM, or CAIA designation, or a postgraduate degree

WHAT YOU WILL DO

• Develop rating methodologies for asset-based finance and structured product investments, including whole loans and corporate joint ventures

• Execute periodic credit risk rating reviews; propose internal ratings and prepare credit risk rating reports with consistent quality and accuracy

• Support Risk Rating Committee meetings — present recommendations and facilitate discussion

• Participate in live deal assessments; work with deal teams to understand transaction structures and provide independent credit risk analysis

• Contribute to proxy risk rating models for externally managed investments

• Support the rating agency evaluation framework by assessing the rating processes of external partners

• Monitor BCI's private investment portfolio; proactively identify investments with elevated risk of rating migration

• Communicate material portfolio developments and credit risk findings to stakeholders

• Provide market intelligence on risks and emerging trends in ABF and structured finance

• Share knowledge and collaborate across the credit analyst team

• Prepare credit risk portfolio reporting; maintain risk dashboards and templates

• Help maintain and enhance the internal credit risk rating framework, methodologies, and governance

• Leverage AI tools to improve analytical workflows and efficiency

WHERE YOU WILL WORK

This role is based at BCI's headquarters in Victoria, British Columbia.

SALARY RANGE

The annualized base salary range for this Victoria-based role is CAD $103,000 to $124,000.

BCI offers a competitive total rewards package, including a performance-based incentive plan, comprehensive health & dental benefits, a defined benefit pension plan, and paid time off. We pay our people competitively in the markets in which we operate and with consideration for internal equity and job structure. The base salary will consider factors such as the individual's skill set, experience, and internal equity. We aim for actual pay to be around the market median for expected performance and the upper quartile for excellent performance. Actual salaries may vary based on experience and expertise.

Next Steps:

To apply online, please submit your resume promptly. Applications will be actively reviewed, and those selected for an interview will be contacted. We welcome all qualified candidates who are legally authorized to work in the country where this job is located. If you do not have authorization, or if your work permit has restrictions or is due to expire within 12 months, please inform our recruitment team if shortlisted.

At BCI, we value diversity and foster an inclusive culture where all employees can thrive. We are performance and client-focused, valuing integrity, and we want to know you if you share these values. We recognize that some skills can be learned on the job and encourage everyone to apply. If you require accommodations for the recruitment process, such as alternate formats of materials or accessible meeting rooms, please contact us at [email protected].

To learn more about working with BCI, including our comprehensive benefits packages, our commitment to equity, diversity and inclusion and the recruitment process visit our BCI Careers Page.

BCI does not accept unsolicited resumes or candidate submissions from third-party recruitment agencies, executive search firms, or staffing suppliers unless they have an existing contractual agreement with our organization. Our approved vendor relationships are established for particular recruitment requirements and do not extend to general job postings on our website or other platforms. Any candidate information or resumes submitted by suppliers not approved by BCI will be deemed unsolicited and will not be reviewed or considered. BCI will not be liable for any fees, commissions, or charges related to unsolicited candidate submissions or recruitment services.