Credit Analyst – Emerging Markets Corporate Debt
The analyst will be responsible for credit coverage of emerging markets corporate issuers, primarily non-financial corporates in the Latin America region. The position is based in Baltimore, US.
- Conduct fundamental industry/sector research. Analyze and explain financial, management, cyclical, environmental, economic and other drivers that impact a borrower’s ability to service debt. Develop well-researched short and long-term perspectives.
- Conduct independent, detailed analysis of companies in emerging market economies. Create historical and projected financial models and analyze key financial metrics. Identify and evaluate external factors that contribute to the issuer’s revenues, cash flow, and credit profile. Perform analysis from both a long and short-term perspective, factoring in market dynamics/technical factors, with the end result being the assignment of a TRP credit rating, outlook and investment recommendation. Travel as appropriate to augment company due diligence process.
- Interact with company management teams, other credit analysts, rating agencies, sell-side analysts, and other TRP investment professionals, including TRP Fixed Income and Equity Analysts, Traders and Portfolio Managers. Assimilate and filter various sources of information to develop long term, well-researched investment theses.
- Make sector and credit investment recommendations to Portfolio Managers, other Analysts, credit and advisory committees and external clients. Communicate credit recommendations orally and in writing on a timely basis. Combine sector outlook with individual borrower and relative value metrics, seeking investments that generate above-average returns on a risk-adjusted basis and influence portfolio strategy.
PERSONAL ATTRIBUTES / SKILLS / QUALIFICATIONS:
- Academic excellence.
- Most critical attributes are solid analytical skills, insight, proactive and effective communication.
- TRP emphasizes a team-oriented approach and values collaboration.
- The analyst will be expected to demonstrate these attributes on both an individual and group level, developing cooperative relationships with other TRP investment professionals regionally and globally.
Other attributes include:
- Previous relevant industry experience of 5-10 years, particularly in high yield credit analysis
- Experience understanding and evaluating company creditworthiness and management quality.
- Ability to make judgments based on market knowledge.
- Experience with financial statement modeling and analysis.
- Prior investment research experience, particularly with companies located in Latin America.
- Inquisitive and proactive nature, driven to excel in all aspects of the analytical process. Flexible, responsive and self-starting personality with keen attention to detail. Open-minded, flexible thought process.
- Willingness to pursue and explore ideas and potential investment opportunities; substantiating one’s ideas in response to questioning by Portfolio Managers, other Analysts and Traders.
- Excellent communication skills, written and verbal. Active participation in conference calls with global team members.
- Strong, independent work ethic.
- Post-Covid when the health situation is back to normal - willingness to travel regularly (approximately 4-8 times annually). Travel involves site and conference/corporate access visits in Latam as well as to other TRP offices.
- Written and verbal fluency (native) in Spanish or Portuguese
- Advanced degree (MBA) and/or CFA.