Credit Analyst - High Yield
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.
- 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.
- 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.
- Advanced degree (MBA) and/or CFA enhances the candidacy.