Credit Analyst, IG & HY

Overview

In this role you will develop views on corporate issuers and translate research into investable ideas. You will work with Portfolio Managers to analyze bonds across developed markets, with emphasis on European, UK and North American credit. You’ll build models, assess leverage and cash flow, and test scenarios to identify relative value and risk-adjusted opportunities. This position sits at the core of the investment process, shaping opinions that drive portfolio decisions and engagement with market participants.

Responsibilities

• Analyze companies, sectors, and capital structures to detect credit quality changes and opportunities
• Assess business models, financial performance, cash generation, leverage, liquidity, and balance-sheet strength
• Build and maintain financial models to test earnings, cash flow, leverage and downside scenarios
• Develop differentiated issuer views and translate into investment theses
• Evaluate bonds and credit instruments across capital structure for relative value and risk-adjusted return
• Collaborate with Portfolio Managers to communicate research findings and ideas
• Monitor holdings and prospective investments in light of earnings, actions, and rating changes
• Engage with company management, investor relations, sell-side analysts, rating agencies, and other market participants
• Assess industry structure, dynamics, and broader economic factors affecting credit
• Consider ESG-related factors when relevant to creditworthiness and outcomes
• Contribute to macro, rates, and sovereign discussions within fixed income when relevant to corporate credit

Key requirements

• 4-8 years of credit research experience in an institutional setting
• Strong knowledge of corporate bond markets, especially Investment Grade; Höigh Yield experience beneficial
• Experience analysing issuers across one or more developed markets with GBP, EUR and/or USD exposure
• Strong financial modelling skills and ability to interrogate financial statements
• Understanding of bond structures, capital structures, covenants and credit documentation
• Intellectual curiosity and willingness to challenge consensus
• Ability to defend investment views using rigorous, evidence-based analysis
• Strong written and verbal communication skills to distill research for Portfolio Managers and team

• Intellectual curiosity
• Questioning assumptions
• Strong written and verbal communication
• Financial modelling
• Credit research
• Analysis of issuers and capital structures

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