Associate/Senior Associate (12 months LOA cover), Macro Strategy

About Temasek

Temasek is a global investment company based in Singapore. As of 31 March 2025, its net portfolio value stood at S$434 billion, equivalent to US$324 billion, €299 billion, £250 billion, and RMB2.35 trillion. If its unlisted assets were reflected at market value, the uplift would add S$35 billion, taking the mark-to-market net portfolio value to S$469 billion.

Guided by the purpose “So Every Generation Prospers,” Temasek aims to create meaningful impact for current and future generations. The firm operates on commercial principles with a focus on delivering sustainable long-term returns.

Temasek has 13 offices across 9 countries, including Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia, and Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC outside Asia.

For more information, reference materials are available on Temasek’s official website, its review publication for 2025, and the Sustainability Report 2025.

Role Overview

The Macro Strategy team is responsible for shaping the firm’s view on macroeconomic conditions such as growth, interest rates, and foreign exchange, as well as its outlook for global markets. Operating within the Portfolio Strategy & Risk Group (PSRG), the team converts macro and market forecasts into investment perspectives that help guide portfolio decisions. It also builds integrated frameworks across equities, FX, and fixed income to support return optimization and risk management, and develops scenario-based analysis to estimate Temasek’s long-term equity returns.

What You Will Do

• Assess how macroeconomic developments, including inflation data, policy moves, and central bank decisions, affect major asset classes such as equities, FX, fixed income, and commodities.
• Create and update analytical dashboards that combine traditional and alternative data sources to track market movements in real time.
• Organize, interpret, and condense complex datasets into clear notes and presentation materials for senior committee discussions.
• Examine long-term structural themes and evaluate how different asset classes behave across varying macroeconomic environments.

What We Are Looking For

• A Bachelor’s, Master’s, or Ph.D. degree in economics, finance, or another quantitative field.
• A solid understanding of how macroeconomic factors interact with asset prices and cross-asset relationships.
• Strong analytical discipline, with the ability to produce both research-oriented models and presentation-ready outputs in a fast-moving environment.
• Hands-on familiarity with markets and macro data tools such as Bloomberg, LSEG Workspace, CEIC, EViews, Python, or R is preferred.
• Experience in economics or finance, together with statistical capabilities, would be helpful but is not mandatory.

Additional Information

This position is a 12-month leave-of-absence cover. The role is based in Singapore and is an onsite full-time position.