Vice President, IG Credit Research Analyst

London, United Kingdom
25 Sep 2022
22 Oct 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time

About this role

Business Unit Overview:

BlackRock offers a range of investment products-equity, fixed income, liquidity, and alternative investment-each managed by a dedicated investment team of portfolio managers, research analysts and traders. Focused portfolio management and proprietary research are the cornerstones of our investment philosophy, and portfolio construction is based on each team's market outlook.

BlackRock's investment teams are staffed with professionals who have significant experience within their respective markets. Our portfolio teams manage assets for institutional and individual investors alike. Accordingly, all our clients benefit from our portfolio management expertise and risk management analytics.

All our portfolio managers leverage the expertise of other investment teams through the strength of a shared research, trading, and risk management platform. Our investment professionals benefit from the resources of a world-class firm that continually invests in its business and is differentiated by a team approach and integrated research and risk management.

The Fundamental Fixed Income team offers an array of fixed income products designed to meet specific client risk and return profiles. Incorporating the expertise of BlackRock's sector specialists, each client portfolio is tailored to reflect specific investment guidelines and objectives with respect to interest rate exposure, sector allocation and credit quality.

Job Purpose/Background:

BlackRock's European Investment Grade Credit Research Team is looking to add an experienced primary credit analyst based in London to meet the growing needs of our business. Although potentially flexible depending on the specific experience of the successful candidate, we currently envision the new hire will have sole primary coverage responsibility for approximately 35-45 issuers across several sectors (e.g., potentially General Industrials, Business Support & Services, Housing Associations and/or Corporate Securitizations).

The role will involve preparation of independent fundamental credit analyses, opinions, and relative value recommendations. The role also involves regular interaction with other sector analysts and investment professionals (portfolio managers, risk professionals, etc.) both inside and outside BlackRock. As a member of the investment grade credit research team, the successful candidate will be predominantly focused on looking at investment grade issuers, but our team also engages in credit research on crossover and higher rated high-yield issuers on a selective or opportunistic basis.

Key Responsibilities will include:
  • Responsibility as a primary analyst (with minimal supervision) for a portfolio of approximately 35-45 corporate issuers across several disparate sectors (potential sectors under consideration include General Industrials, Business Support & Services, Housing Association and/or Corporate Securitizations)
  • Providing real time, forward-looking fundamental credit views and investment recommendations (including relative value opinions across the capital structure) to the investment team within strict deadlines
  • Acting as in-house sector expert and fundamental "thought leader", presenting sector views both internally and at client meetings
  • Participating in a variety of daily, weekly, and monthly investment team meetings
  • Collaborating with senior analysts on cross-sector research projects
  • Providing ad-hoc briefings and research to portfolio managers
  • Leading regular issuer meetings as the primary contact handling the analytical relationship
  • Conducting fundamental credit research, analyzing, and explaining economic, competitive, and sectoral drivers that impact an issuer's creditworthiness
  • Building and maintaining Excel-based forecast models to track actual and expected performance, against baseline expectations and key trigger points for potential rating actions and/or spread

Experience and knowledge required:
  • Previous primary analyst experience (5+ years) in a top-tier credit research environment
  • Thorough understanding of credit rating agency methodologies
  • Strong corporate credit background (including bond technical factors, documentation, CDS)
  • Experience in interacting at "board level" (i.e., CEO, CFO and other senior management) of large international companies
  • Knowledge of impact of ESG factors on credit quality
  • Prior experience with covering General Industrials, Business Support & Services, Housing Associations and/or Corporate Securitizations is a plus

Competencies required:
  • Strong interest in the career credit research analyst path and fixed income investing
  • Willing to and capable of confidently and decisively underwriting investment risks in dynamic situations of imperfect information and ambiguity under short timelines
  • Self-driven desire for expertise, thirst for sector knowledge and keen attention to detail
  • Intellectual curiosity for new products or businesses to analyze, and strong commercial acumen
  • Willingness to work in a strong team-oriented environment
  • Excellent written and oral communication skills in English, including the ability to distill complex and comprehensive analyses into succinct summaries
  • Advanced financial analysis and modelling skills
  • Well organized and detail orientated with the ability to maintain accuracy whilst complying with deadlines
  • Advanced skills in Microsoft Excel are a minimum requirement; computer programming/coding skills including Python, SQL, Tableau are a plus
  • Fluency in English is required. Fluency in a second language is a plus.

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our hybrid work pilot

BlackRock's current hybrid work pilot is designed to help you experience the best of both worlds: the opportunity to connect with colleagues in person and the flexibility to work remotely, with greater time to focus on what's important to you. In line with local health guidance and regulations, employees are generally expected to work 3 days in the office and 2 days from home (on average) each week. For some business groups, more time may be required in the office, while greater flexibility may be in place for others. Our "One BlackRock" culture means you'll be supported to collaborate with your new colleagues while bringing your full self to work - wherever you are.

The health, safety and well-being of our people will always be our top priorities; we will continue to monitor local conditions and health advisories in making decisions about our work environments.

About BlackRock

At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children's educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.

This mission would not be possible without our smartest investment - the one we make in our employees. It's why we're dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.

For additional information on BlackRock, please visit | | Instagram: @blackrock | Twitter: @blackrock | LinkedIn:

BlackRock is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to age, disability, race, religion, sex, sexual orientation and other protected characteristics at law.
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