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Credit Analyst - Municipals

Employer
T. Rowe Price
Location
Baltimore, Maryland (US)
Salary
Commensurate with experience
Closing date
Feb 22, 2019

View more

Job Function
Credit Analysis
Industry Sector
Asset Management
Employment Type
Full Time
Education
Bachelors

Job Details

Primary Purpose of the Position

The Municipal Credit Analyst is responsible for the coverage of select sectors in the Municipal Bond investment universe.  The Analyst will conduct fundamental research to help guide individual investment decisions and portfolio strategy.  The Analyst will partner with Portfolio Managers to make investment decisions that contribute to consistently superior risk-adjusted returns.

Principal Responsibilities

  • Conduct fundamental, independent research on issuers in the assigned sector(s).  Key research inputs include financial factors, strength of management, environmental factors and economic conditions.  The research output should include the assignment of a TRPA credit rating, an investment recommendation and, as appropriate, a sector view.
  • Create historical and projected financial models, analyzing key financial metrics. 
  • Maintain solid relationships with government officials/management teams, rating agencies, sell-side analysts, and other TRP investment professionals, including Fixed Income and Equity analysts.  Leverage relationships to develop unique insights that contribute to superior investment decisions. 
  • Assimilate and filter various sources of information to develop a long term, well-researched investment thesis. 
  • Communicate investment recommendations orally and in writing to Portfolio Managers, other TRP analysts, internal committees and external clients.  Investment recommendations should integrate one’s fundamental credit assessment with relative value considerations.

Qualifications

  • MPP, MBA, CFA or JD preferred
  • At least three to five years of experience analyzing municipal credits including financial statement modeling
  • Exemplary analytical skills
  • An inquisitive nature that drives one’s analysis and results in unique investment insights
  • Excellent written and verbal communication skills.  Position requires regular communication inside T. Rowe Price as well as external organizations, including bond issuers, industry professionals, rating agencies and sell-side counterparts
  • Experience understanding and evaluating creditworthiness and various fixed income investment assets.  Experience with relative value and investing
  • Ability to make judgments based on market knowledge
  • Experience with macroeconomic financial 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
  • Willingness to pursue and explore ideas and potential investment opportunities, supporting one’s ideas to questioning by Portfolio Managers and other analysts
  • Willingness to travel
  • Ability to work independently as well as in collaboration with the investment team to generate optimal investment results

Company

T. Rowe Price, headquartered in Baltimore, Maryland, is an investment management firm offering individuals and institutions around the world investment management guidance and expertise. The T. Rowe Price investment approach strives to achieve superior performance but is always mindful of the risks incurred relative to the potential rewards. Our consistent investment philosophy helps mitigate unfavorable changes and takes advantage of favorable ones. We provide our clients with world-class investment guidance as well as attentive service. Founded in 1937 by Thomas Rowe Price, Jr., the company offers separately managed investment portfolios for institutions and a broad range of mutual funds for individual investors and corporate retirement programs. In founding his firm, Mr. Price followed a very simple business principle: What is good for the client is also good for the firm. Rather than charge a commission, as was then the practice in the securities business, Mr. Price charged a fee based on the assets under management. If the client prospered, so did T. Rowe Price. Mr. Price is best known for developing the growth stock style of investing. Although he was trained as a chemist, he had a passion for investing. Mr. Price believed that investors could earn superior returns by investing in well-managed companies in fertile fields whose earnings and dividends could be expected to grow faster than inflation and the overall economy. The core of Mr. Price’s approach, proprietary research to guide investment selection and diversification to reduce risk, has remained part of the firm’s bedrock principles. Today, growth stock investing is one of the many investment styles the firm currently follows. T. Rowe Price also employs value-oriented, sector-focused, tax-efficient, and quantitative index-oriented approaches in managing mutual funds and institutional portfolios.

Company info
Telephone
410-345-4816
Location
100 East Pratt Street
Baltimore
MD
21202
US

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