Sr. Municipal Fixed Income Research Analyst

Chicago, Illinois
Salary commensurate with 5+ years of experience
Jun 29, 2022
Jul 29, 2022
Industry Sector
Asset Management
Employment Type
Full Time

Northern Trust’s Asset Management business unit has an immediate opportunity for a Senior Municipal Research Analyst who will monitor a portfolio of existing credits in assigned sectors to evaluate credit risk for municipal assets under management of over $40 billion. The analyst will articulate to portfolio managers and clients the philosophy and viewpoints utilized in managing municipal credit risk in various types of funds and portfolios spanning the entire spectrum of credit quality from high grade to high yield. The analyst will also maintain information systems to accurately reflect current opinions regarding approved debt issuers.



  • Independently performs fundamental financial and credit analysis for a complex portfolio of municipal issuers across a variety of sectors to assign internal credit opinions. 
  • Analyses new issues, secondary market opportunities, and surveillance for existing holdings in assigned sectors to make investment recommendations to portfolio managers and traders across the credit risk spectrum from investment grade to high yield. 
  • Develops municipal sector expertise to assist in portfolio management positioning by providing not only internal credit ratings, but also relative value recommendations. 
  • Recommends, through written and verbal communication, suitability of municipal credits for multiple products with varying levels of risk.
  • Ensures that portfolio control systems are maintained and updated on a continuous basis, and that assigned municipal credits and sectors are reviewed, analyzed, and documented to fulfill internal/external regulatory requirements.
  • Contributes to thought leadership publications to highlight views of the research team. 



  • Self-sufficient with a positive team-oriented attitude. 
  • A high level of intellectual curiosity, independent thinking and self-direction.
  • Time management, organizational skills and efficiency.
  • Experience in financial/budget analysis for municipal or not-for-profit entities.
  • Knowledge of and interest in economic and legal conditions and their impact on the financial profile of municipal entities.
  • Strong written and verbal communication skills with the ability to translate the assessment of risk into concise and well-reasoned investment opinions. 
  • Advanced quantitative skills and the ability to navigate complex data systems. 
  • Willingness and desire to learn new credit sectors.


  • 5 plus years work experience in municipal credit analysis (i.e. buy side, sell side, rating agency, issuer) or related field
  • Advanced degree in business, public administration or related field
  • Progress toward the CFA 
  • Experience with ESG

*Role will be hybrid (min three days a week in office)

Similar jobs

Similar jobs

  • You need to sign in to save