Buy Side Credit Analyst / Junior Trader
Sterling Williams are working closely alongside a leading International Bank based in the City of London, who are looking to hire a Buy-Side Credit Analyst/Junior Bond Trader to their London business.
This would suit a candidate who has 1-3 years experience in credit analysis, who is keen to work in the front office, and will develop skills and capabilities over time to execute trades on behalf of the bank.
Buy-side Credit Analyst / Junior Trader - Officer Permanent, full time. City of London (with Hybrid working 3 days in the office) Salary competitive, circa £ pa plus benefits.
To support the team through credit research and analysis of corporate issuers and relevant fixed-income and credit products, monitoring credit and market developments and providing analysis, investment views and recommendations to senior members of the team and Head Office.
The role supports the management and monitoring of the corporate bond portfolio within the investment strategy, parameters and delegated authorities determined by management and Head Office. The job holder is expected to develop their analytical capability and issuer coverage through on-the-job experience, taking on greater complexity and responsibility as their knowledge and experience develops. Both investment analysis skills and buy-side trading execution skills are expected to be developed through on-the-job experience.
Credit analysis:
In conjunction with the wider team, undertake credit analysis of European and US corporates for investment in corporate bonds, REIT, and, to a lesser extent, credit default swaps (CDS), to support investment recommendations and ongoing portfolio monitoring. Produce regular and timely research reports (‘Company Profile’ and ‘Cash Flow Analysis Report’), providing analysis and recommendations for line management and Head Office. Monitor assigned issuers and portfolio holdings, including relevant financial, credit, market and sector developments, and identify any material changes in credit quality or investment risk. Escalate material credit concerns or emerging risks to the Manager in a timely manner, supported by appropriate analysis and recommendations. Upon request undertake ad hoc credit analysis and reporting for line management and Head Office.
Trading activities (certified - in time):
Under supervision and direction of management, support and execute approved investment activity in fixed income bonds (including floating rate notes), REIT and credit derivative products, including single name long/short CDS, index long/short CDS and interest rate swaps, within applicable delegated authorities and limits. Undertake “price discovery” and market analysis, including engagement with brokers and traders, to assess prevailing market values and support investment analysis and execution. Build and maintain strong relationships with dealer counterparties and market participants.
The successful candidate will likely have:
A strong academic record, with a first-class or 2:1 degree from a leading university. CFA qualification/studying towards CFA is desirable but not essential, as CFA study support will be provided. IMC or other relevant investment qualification is desirable but not essential.
Required Skills:
Relevant experience in credit analysis, corporate banking, fixed income, investment management, asset management, treasury or financial markets, with practical experience of analysing financial and economic information and producing quality credit analysis and reporting. Good understanding of financial statements, corporate credit analysis, credit markets and fixed-income products. Ability to identify and assess key credit risks and clearly communicate analysis and conclusions through written reports and recommendations. Understands how economic, industry and market developments can affect corporate issuers, credit quality and investment performance. Strong proficiency in MS Office, particularly Microsoft Excel is essential. Experience or working knowledge using financial market data and investment systems, like Calypso, MarkitWire, Capital IQ, Bloomberg, etc. is desirable but not essential. Ability to analyse complex financial and credit information, identify key risks and draw sound conclusions from quantitative and qualitative data. Demonstrates accuracy when analysing financial information, preparing investment reports and monitoring portfolio/issuer information. Ability to communicate credit analysis, investment views and market developments clearly to senior colleagues and Head Office stakeholders. Developing ability to work on own initiative using knowledge of theoretical and practical experience. Understands credit, market and investment risks and appropriately escalates potential concerns. Demonstrates willingness to develop technical knowledge and obtain relevant certification required for investment and trading responsibilities. Ability to work collaboratively with senior investment professionals and colleagues across the team and contributes effectively to shared investment objectives.