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Global Credit Research Analyst (Public Markets)

Employer
Meredith Brown Associates
Location
London, United Kingdom
Salary
Competitive market rate + good bonus potential
Closing date
Jun 22, 2023

View more

Job Function
Other
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
The Credit team manage a range of innovative credit strategies and boasts an impressive track record. They take a global investment view, with Analysts covering large companies within given sectors, covering both Investment Grade and High Yield issuers. This role will examine the credit and ESG risks of global companies across a variety of sectors, including Transportation (Autos, Airlines), Capital Goods (Packaging) and Utilities sectors, assessing value across a range of debt instruments (e.g., cash bonds, CDS, loans, etc.) to make investment recommendations for portfolio positioning and alpha-generating trades (e.g. pair, curve, capital structure) as credit risks and/or values change.

Role & Responsibilities
  • Initiate and maintain research coverage on credits in Transportation (Autos, Airlines), Capital Goods (Packaging) and Utilities sectors on a global basis.
  • Develop investment views by researching and analysing sector and issuer-level news, earnings and ESG related developments. Build and maintain financial models / tear sheets, comparable tables and relative value spreadsheets (e.g. within the capital structure and among peers and across credit instruments). Assess and price ESG risks via the firm's proprietary ESG pricing tools. Assess valuations of various credit instruments across capital structure and come up with investment recommendations. Provide updates on issuer related developments daily and present investment analysis at bi-weekly investment committees.
  • Assign and maintain investment scores (credit, ESG, value and final) for covered credits and proactively make investment recommendations for trades and to changes of portfolio positioning based on changes in either credit risks, valuation, or anomalies in the market.
  • Research, analyse, form views, and assign sector investment scores (fundamental, ESG, value, final).
  • Engage with company management/ Investor Relations at conferences, on earnings calls, and participate in engagement meetings with companies along with other Fixed Income and ESG engagement colleagues.
  • Attend and contribute to the various Credit meetings and investment processes, from morning meetings and Credit committees through to Credit Strategy meetings and firmwide market update calls. Maintain an active dialog with other analysts, engagers, traders, and portfolio managers to assess and react to changes in news and events.
  • Participate in firm-wide cross-asset collaboration initiatives, including on engagement activity, equity teams on sectors and companies as well as thematic fireside chats, cross-asset sector meetings and publications.
  • Speak with the Sell-side as needed (comparison of views, attending conferences, etc.).
  • Contribute to the Credit team's body of public commentary and investment newsletters.


Skills & Experience

The successful candidate must have proven fundamental credit analysis skills, likely to be developed during 3-5 years of experience of analysing both Investment Grade and High Yield issuers, gained on the Buy-side, Sell-side or Ratings Agency environments. You must be able to demonstrate confidence in your technical skills and knowledge, and present your ideas well to a variety of audiences. Ideally you will be able to be assured in generating quality investment ideas and taking risk by linking credit and ESG views to security selection and investment recommendations.
  • Ability to read, understand and analyse the financial statements of Corporates.
  • Proficient in the tools of fundamental financial analysis (Excel, Bloomberg, etc.) with the capability to produce financial models, valuations, comparables analysis, yield analysis, relative value analysis, etc.
  • The ability to identify and analyse the drivers of credit risk, and pricing of those risks on a relative basis within the capital structure and among peers and across credit instruments (cash and synthetic).
  • Degree in a relevant subject, with the CFA designation a plus.

This is terrific chance to join a successful Credit team, which gives its Analysts considerable exposure and responsibility for their calls, so their work can have a genuine impact on portfolios.

Please note that, due to the volume of applications, only successful applicants can be contacted.

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