Credit Analyst - High Yield

Location
Baltimore, Maryland
Salary
Commensurate with experience
Posted
Nov 29, 2018
Closes
Dec 29, 2018
Job Function
Credit Analysis, Other
Industry Sector
Asset Management
Employment Type
Full Time
Education
Bachelors

PRIMARY PURPOSE OF THE POSITION

The High Yield Credit Analyst will be responsible for the credit coverage of a few major sectors and multiple individual company positions.  The individual will research new issues and existing high yield bonds as well as monitor the progress of existing portfolio holdings.

 

PRINCIPAL RESPONSIBILITIES

  • Conduct independent, fundamental high yield credit research.  Analyze and explain economic, competitive, sector and political drivers that impact a borrower’s ability to repay its debt.  Develop well-researched short and long-term perspectives, resulting in the assignment of TRP bond ratings, outlooks and investment recommendations.
  • Create historical and projected financial models, analyzing key financial metrics to differentiate improving from deteriorating credits.  Make buy, hold or sell investment recommendations incorporating the fundamental credit outlook. 
  • Interact with management teams, other credit analysts, rating agencies, sell-side analysts, and other TRP investment professionals, including fixed income and equity analysts.  Assimilate and filter various sources of information to develop long term, well-researched investment theses on sectors and issuers.   
  • Communicate credit opinions and investment recommendations orally and in writing to Portfolio Managers, other TRP analysts, credit and advisory committees and external clients.
  • Produce and communicate regular forecasts of bond performance in selected credits. Also develop and apply relative value metrics, seeking investments that generate above-average returns without excessive risk.

 

QUALIFICATIONS

Required

  • College degree and three years of relevant work experience
  • Most critical attributes are solid analytical skills, insight and effective communication.  TRP emphasizes a team oriented approach, which will require the analyst to demonstrate these attributes on both an individual and group level.
  • Experience understanding and evaluating creditworthiness.
  • Ability to make judgments based on market knowledge.
  • Experience with financial statement modeling and analysis.
  • Inquisitive nature, driven to excel in all aspects of the analytical process.  Flexible, responsive and self-starting personality with keen attention to detail. Open-minded thought process and intellectual honesty.
  • Willingness to pursue and explore ideas and potential investment opportunities, supporting one’s ideas to questioning by Portfolio Managers and other analysts.
  • Excellent communication skills, written and verbal.

 

Preferred

  • Advanced degree (MBA) and/or CFA enhances the candidacy.

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