BCI is rooted locally while growing globally
Elaine Yuan was working for a major international bank in Hong Kong and Canada when she saw the job posting she had been waiting for at British Columbia Investment Management Corporation (BCI).
“I had my eye on BCI for some time. After working internationally for a couple of years, I really wanted to work for a Canadian company,” says Yuan, now an associate in infrastructure and renewable resources for BCI. “It’s a public sector asset manager, securing financial futures for our British Columbia clients. It’s making a real impact on people. I think it’s the perfect spot.”
BCI, created in 1999 by the provincial government as a statutory corporation to manage funds for public sector pension, insurance, and special purpose fund clients, has been growing, opening new offices in New York City in 2022 and London in 2023 to service its clients’ portfolios. For Yuan, this is another big advantage of working for BCI.
“It means there’s lots of opportunities for young professionals like me,” she says. “I can really utilize my skills at a global investment firm with institutional clients and a global portfolio. It’s intellectually stimulating work with a purpose as well.”
The investment returns BCI generates contribute to paying pension benefits, assisting insurance clients in offering more affordable premiums and fulfilling claims, and financing government programs focused on arts and culture, sports development, and training and skills development.
For David Morhart, executive vice president of corporate and investor relations, this growth presents an opportunity for leadership to make sure that the Victoria-based company’s corporate culture is shared among all its offices.
This means that employees across the time zones are kept in touch through the Bull & Bear, BCI’s company intranet site, and through frequent visits and secondments of colleagues to different offices.
“New York and London were set up originally with secondments or relocations of existing employees, and then we looked into doing some local recruitment,” Morhart says.
“We’re a 24/7 operation given that we invest around the world for our clients, so we try to cover as many of those time zones and opportunities as we can and remain connected that way.”
There are also team-building exercises and community engagement opportunities to build connections. Yuan recalls team members who visited Victoria from London taking part in a recent volunteer event for Power To Be, a non-profit that creates access to nature for people with physical or financial barriers.
Morhart says the company’s CEO/CIO, Gordon J. Fyfe, put out a 2,000-hour challenge this year to encourage teams to take advantage of the 14 hours of paid volunteer work the company offers employees annually.
“We’ve seen such amazing take-up,” Morhart says, “whether it’s sitting on boards, serving meals or helping clean up an environmental issue. We’re trying to be very visible, and offering our skills within communities is very rewarding.”
Yuan speaks about volunteering with JA British Columbia at a middle school to help educate students about financial literacy and career success skills.
“This is quite an opportunity for me,” Yuan says, “and even though it’s been three years, I don’t take it for granted. We’re working for one of the biggest Canadian asset managers investing globally on a beautiful island, and I think that’s quite an opportunity.”
Young employees are a source of energy for BCI
Helping young employees at the start of their careers is a priority at British Columbia Investment Management Corporation (BCI), the Victoria-based investment management firm with offices in Vancouver, New York City and London, United Kingdom.
Rechelle Effendy, senior vice president of finance and chief financial officer, says that not just new hires, but interns and co-op students, are a vital part of the BCI workplace.
“They come with a great deal of energy and intellectual curiosity,” she says, “so it’s great to hear their voices and see their willingness to speak up and drive the business forward. There’s also a curiosity about where they land in all of this, and how they navigate through it.”
Zehan Zheng is a senior analyst who joined BCI in 2021, just out of the University of Victoria, after he had interned at the company. He remembers that he was eased into his new role by his manager.
“When I joined, I thought I'd get a task right away,” says Zheng. “Instead, I was given the opportunity to interact with my teammates and learn about their projects. I felt a sense of care, like they wanted me to grow as a person instead of just assigning me tasks. This made me feel like a valuable team member.
“The values the company taught were actually demonstrated by the day-to-day behaviours of my colleagues,” Zheng adds. “I was amazed by the openness of my colleagues, how everyone is willing to sit down with me or anyone else who reaches out to solve a problem.”
Effendy says that onboarding is a crucial part of a young employee’s career at BCI. “This is their first glimpse into the corporate or professional world, so moving through that is something that we help them with.”
She adds that mentorship is crucial to this process. “They’re introduced to individuals who have a number of years of experience, to understand how to navigate the environment and not just their role but the broader management and business itself. These individuals are able to help them understand what they’re looking for longer term.”
As an intern, Zheng remembers connecting through the corporate mentorship program with a senior analyst. Zheng appreciated receiving the guidance his mentor provided on productivity, time management, and more. This mentorship made a significant difference in his early career.
Zheng has also found useful corporate resources that helped him in his growth and development. “For example, the data and analytics team just launched a new program to help employees learn about artificial intelligence, because it’s a big thing right now. They offered this free program, which I found very beneficial for learning to use AI in my day-to-day work.”
“Our co-op program has really taken flight over the last few years,” Effendy says, “and I really have to thank our teams for embracing it. They’ve enjoyed working with young people in the organization who really help us think about things in new ways.”
The value BCI places on learning helped Zheng understand his role at the company, he says. He’s discovered that “if you spot a potential area for improvement, you can take the initiative and present a solution that brings added value to the team.”