Municipal Credit Analyst

4 days left

Los Angeles County, California
Salary Negotiable
Sep 03, 2020
Oct 03, 2020
Industry Sector
Asset Management
CFA Charterholder
Employment Type
Full Time

Position Description

Payden & Rygel is seeking a Municipal Credit Analyst to support the firm’s growth in municipal assets under management. The primary function is to provide research, both credit and market, and analytical support for the Tax-Advantaged Strategy. The Analyst is expected to be an active contributor to the team’s investment decision-making process. The position is based in Los Angeles, CA, where the Analyst will work alongside the municipal team and play an integral part in the strategy’s continued growth.



  • Conduct research and fundamental credit analysis on sectors and individual municipal issuers
  • Collect, maintain and analyze financial and statistical data and develop quantitative models to support fundamental research
  • Analyze political and policy developments and the associated impact on credit fundamentals
  • Maintain surveillance of assigned credits through evaluation of periodic financial reporting, monitoring various news sources and communication with peer group professionals, external industry analysts, and management teams
  • Support ESG-related and impact investing research and analysis
  • Write credit surveillance reports and present analysis to various investment groups
  • Recommend trade ideas, both security and sector level, based on relative value analysis and proactively communicate across all strategy groups
  • Coordinate with corporate credit analysts to generate cross-asset investment ideas
  • Analyze portfolio exposures for strategy consistency
  • Provide ongoing commentary on relevant news and developments impacting credit, supply, or broader market sentiment
  • Assist with performance attribution and portfolio strategy recommendations

Marketing/Client Service:

  • Prepare marketing materials, including portfolio exposure summaries, market updates, and other timely developments impacting the municipal credit landscape
  • Coordinate and respond to ad hoc, client specific requests
  • Assist with presentations for existing and prospective clients


  • At least 3 years of municipal / public finance credit analysis experience. Previous credit experience at a buy/sell-side firm, ratings agency, bond insurer, or federal agency required
  • Exposure to the following sectors a plus: Project finance, dirt deals, healthcare/CCRCs, housing, and charter schools
  • Deep understanding of fixed income products, with a strong emphasis on municipal credit and market dynamics
  • Strong framework for evaluating credit, valuations, and risk metrics and the ability to seamlessly translate views into actionable ideas at the portfolio level
  • Excellent communicator – articulate with strong written and oral presentation skills
  • Strong academic credentials: Bachelor’s Degree required. Master’s degree/MBA preferred. CFA designation or working towards is a plus

Please submit a resume to with “Municipal Credit Analyst” in the Subject field. Payden & Rygel is an equal opportunity employer.

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