Credit Research Associate
Vanguard's Investment Management Group (IMG) oversees internally managed funds, while delivering superior investment results and conducting impactful research. This wouldn't be possible without our crew - seasoned investment professionals and outstanding strategic thinkers. IMG is currently seeking a Credit Research Associate with a passion for the financial markets to help drive the success of Vanguard's Fixed Income Funds.
In this role, you'll support Senior Analysts by researching and analyzing assigned sectors, companies, or issuers. You'll contribute to the critical thinking behind key investment decisions and have opportunities to apply your analytical skills and develop industry expertise. Bring your future to Vanguard and benefit from enriching work, high-level exposure, and the satisfaction that comes from knowing you have a direct impact on clients' wealth and financial security.
How you'll spend your days:
As a Credit Research Associate, you'll spend your days working closely with Senior Analysts on your assigned sectors, companies/obligors and issuers, performing fundamental research, analyzing trends, interpreting information, and deepening your knowledge of assigned areas. The Senior Analyst will depend on you to summarize findings, build Excel-based models, draft reports on high grade issuers, and draw conclusions on the relationships between operating results and credit quality.
We will seek your expertise and input in helping to formulate investment recommendations and you will assist with the analysis of new bond issues and other corporate actions. You'll respond to fixed income desk inquiries and contact issuers, rating agencies, and sell-side analysts to gather additional information.
This role will offer you the opportunity to learn one-on-one from world-class investment professionals, including senior leaders, and attend industry conferences to build your network and knowledge. Ultimately, you'll deepen the trust that we've earned from clients worldwide and contribute to the most integral function at Vanguard.
Duties and Responsibilities:
- Prepares more complex spreadsheets to assist in obligor/company analysis (including scenario analysis). Draws conclusions on relationships between operating results and credit quality, makes judgments and creates reports in draft form for senior analyst scrutiny.
- Analyzes sector/industry trends for assigned obligor/company; summarize findings for analyst. Drafts 2(a)7 updates and reports for high grade issuers under analyst supervision
- Interprets company/obligor specific information; models bonds being paid down on different schedules.
- Summarizes earnings/conference calls for analysts.
- Responds to more routine fixed income desk inquiries.
- Prepares meeting minutes.
- Develops deeper knowledge of specific sectors.
- Contacts issuers, rating agencies, and sell-side analysts.
- Completes work independently with minimal supervision on most assignments.
- Attends selected industry conferences.
- Participates on sector focused Satellite teams.
- Participates in special projects and performs other duties as needed.
- Undergraduate degree or equivalent combination of training and experience.
- Requires minimum of 3 years of work experience.
- Demonstrated analytic/conceptual ability.
- Strong oral and written communication skills.
- Financial market/sector and company knowledge.
- Proficiency in MS Office products including Excel, Word, PowerPoint and internal Credit Research software applications.
Vanguard is not offering visa sponsorship for this position.
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