Sterling Capital’s Small to Mid-Cap Value Equity Team is seeking an Equity Research Analyst (“Analyst”) who will be part of a value investment strategy based in Charlotte, NC. Working with a team of six investors, the Analyst will be responsible for in-depth company and industry analysis. Based upon his/her own industry sources, discussion with company executives, company visits, interaction with other Sterling Capital analysts and, to some extent, input from “the Street,” the analyst will be responsible for alpha generation and stock recommendations. The team seeks to hire an outstanding stock picker, regardless of sector leaning.
The Analyst’s primary responsibility will be to conduct fundamental research and to make a positive investment impact. Candidates should be well versed in value-oriented equity financial modeling and market-based valuation approaches. The team is committed to providing superior long term investment performance driven by exceptional research and security selection with a long-term fundamental focus. Overall, there is a strong emphasis on quality and on risk-adjusted returns.
The Analyst will generate strong, insightful investment ideas based on independent research and will contribute ideas to portfolio decision-making within the team’s disciplined investment process. The successful candidate should be able to cover multiple industries. He/she should also be comfortable holding face-to-face interviews with executive management teams and should thoroughly understand the markets and competitive dynamics in his/her respective sector coverage.
The successful candidate will be able to provide a differentiated view, identify change in covered companies and sectors and reach fact-based conclusions within a risk/reward framework. Candidates for the position should exhibit a passion for continual learning and study of financial markets and the ability to remain flexible and action oriented while demonstrating conviction under challenging market conditions. The Analyst must be a collaborative team player.
The Analyst will generate successful long-term investment ideas and provide constant monitoring of relevant actions and events impacting areas of his/her primary coverage responsibility. The successful candidate will develop unique research insights by a relentless pursuit of value-added information to arrive at well supported investment conclusions.
The Analyst will focus on finding businesses selling at attractive prices through superior bottom-up fundamental research. These businesses will typically generate substantial levels of free cash flow, have numerous reinvestment opportunities at attractive returns, and enjoy competitive advantages. The Small to Mid-Cap Value Equity Team emphasizes six key factors in their analysis: (i) free cash flow, (ii) return on invested capital, (iii) sustainable growth, (iv) durable competitive advantages, (v) management and (vi) balance sheet strength.
The Analyst will proactively develop and discuss investment recommendations with the lead portfolio manager and other members of the team and demonstrate conviction and an ongoing commitment to updating and reassessing his/her view on investment theses to assure appropriateness within the team’s valuation framework. He/she will participate in regular team meetings and produce, as appropriate, written communications and updates on companies in the portfolio or for consideration in the portfolio. When deemed helpful, he/she will communicate with marketing, sales and product specialist teams to articulate investment process and performance.
- Perform primary analysis of equities with a well-defined value framework. The universe includes a focus on domestic equities in the small to mid-cap equity capital spectrum as well as opportunities to invest in non-US companies.
- Conduct research based on data gathered from company filings, company management meetings, and independent research sources. Create and update reports on earnings power and valuation.
- Cover multiple industries, maintaining existing holdings and recommending new securities.
- Use multiple year projection of earnings power, free cash flow, EV/EBITDA, net asset value, earnings quality assessment, and other appropriate methods to determine per share price targets and valuations of securities under various scenarios.
- The team has a well-structured sell discipline, so the Analyst must create and maintain models used to process portfolio analytics and surveillance.
- Candidates should be comfortable working closely with a small team. In addition, the Analyst will be expected to work independently and complete deliverables with minimal supervision.
The Analyst will ideally have the following experience and qualifications:
- A minimum of five years of experience in buy-side equity research. The position has the potential to span sectors as more of a generalist.
- Strong analytical, interpersonal, and organizational skills.
- The successful candidate must demonstrate a willingness to learn, attention to detail, and the capacity to use critical thinking to solve problems.
- Candidates should be inquisitive, persuasive, self-confident, and decisive despite market condition, ambiguity, or uncertainty.
- Exposure to multiple industry sectors across market capitalization, with a focus on value investing.
- Ability to synthesize data and present results using written and oral communication skills.
- Provide advanced spreadsheet analysis. Strong MS Excel capability is critical.
- History with a long-term, value-oriented, research-intensive, buy-side investment firm.
- Strong academic credentials, including a bachelor’s degree and an advanced degree highly preferred. A CFA designation or demonstrated commitment to the completion of the CFA program is also preferred.
- Willingness and ability to travel.