Investment Grade Fixed Income Analyst
TITLE: Investment Grade Fixed Income Credit Analyst (Special Investment Officer)
The New York State Insurance Fund (NYSIF) was established in 1914 as part of the original enactment of the New York Workers' Compensation Law. The Fund's mission is to guarantee the availability of workers' compensation insurance at the lowest possible cost to employers, while maintaining a solvent fund, as well as to provide timely and appropriate indemnity and medical payments to injured workers. NYSIF is a self-supporting insurance carrier that competes with private insurers in both the workers' compensation and disability benefits markets in New York State. With 160,000 policyholders, over $2 billion in annual premium and $17 billion of assets, NYSIF is the largest workers' compensation carrier in the state and among the top ten largest workers' compensation carriers in the nation. NYSIF provides disability benefits coverage for off-the-job injuries to more than 61,000 New York employers.
Minimum Qualifications: Bachelor’s degree, preferably in Accounting, Finance, or Economics, with strong academic qualifications; MBA or CFA designation is preferred. Candidate must also have a minimum of three (3) years of credit experience covering financial institutions or corporate credits, preferably at a “buy-side” institution, such as an insurance company or asset manager. Minimal travel required.
Candidates must be New York State residents or willing to relocate.
Seeking candidate with the following knowledge, skills, and abilities:
• Superior Excel financial modeling skills;
• Self-motivated individual with sound reasoning and strong analytical and communication skills (verbal and written);
• A demonstrated ability to work well independently, and as part of a team;
• The ability to manage multiple time-sensitive assignments;
• Strong attention to detail and mental concentration needed to accurately perform tasks with potential interruptions;
• Strong academic record with knowledge of accounting;
• Familiarity with Bloomberg (including API) mandatory;
• Proficiency in Microsoft Office (PowerPoint, etc.);
• Experience using Capital IQ or Aladdin a plus.
Illustrative Duties: The Investment Grade Fixed Income Credit Analyst will underwrite and monitor credit positions for NYSIF’s corporate fixed income investment portfolio of roughly $10 billion. The analyst will work closely with other analysts, the portfolio manager, and trader in seeking to identify relative value opportunities both within and between sectors.
The Analyst will be an industry specialist, assuming responsibility for analyzing, monitoring, and reporting on all credits within assigned sectors. Ideally, the candidate will have experience covering financial institutions, including banks and insurance companies. Dependent upon the area and level of experience, the analyst may work under the direction of a Senior Analyst for up to one year before assuming direct control of the assigned sectors.
Duties will include, but not be limited to:
• Underwriting and actively monitoring credit exposures;
• Identifying relative trading opportunities and minimizing credit losses;
• Conducting periodic reviews of assigned sectors and relative value opportunities;
• Assisting the investments team on key initiatives, special projects, and other credit-related functions;
• Collaborating with investment analytics on the development and maintenance of desk systems and tools;
• Liaising with investment operations, accounting, and others on portfolio positions as needed;
• Communicating with the Chief Investment Officer, Chief Credit Offer, Chief Risk Officer and Portfolio Manager on industry and credit specific developments that might materially impact the portfolio.
Additional Information: This is a New York State position designated in the exempt jurisdictional class. The official Civil Service title for this position is Special Investment Officer.
How to Apply: Candidates should email or mail a resume and cover letter to the address noted below.
The New York State Insurance Fund
Attn: Human Resources
15 Computer Drive West
Albany, NY 12205
E-Mail address: email@example.com
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