Credit Analyst en T Rowe Price

The Investment Grade Credit Analyst position provides an opportunity for the successful candidate to join our existing Global Credit Research team, partnering with an experienced group to cover a sub-set of the European Investment Grade investment universe. The individual will research new issues and existing investment grade bonds as well as monitor the performance of portfolio holdings under assigned sector coverage, providing independent credit risk assessments and specific investment recommendations to the broader Fixed Income platform.

Principal Responsibilities

• Conduct independent, fundamental credit research. 
• Analyze and explain economic, competitive, cyclical, structural, regulatory and political drivers that impact a borrower’s ability and willingness to repay its debt. 
• Interact with management teams, credit analyst peers, rating agencies, sell-side analysts, and other TRP investment professionals, including Fixed Income, Equity and Responsible Investing analysts.   
• Create historical and projected financial models, analyzing key financial metrics to differentiate improving from deteriorating credits. 
• Assimilate and filter various sources of information to develop well-researched short- and long-term perspectives, resulting in the assignment of TRP credit ratings, investment conviction ratings, and investment recommendations incorporating the fundamental, technical and valuation outlook on sectors and issuers.
• Produce and communicate regular forecasts of bond performance in selected credits. Develop and apply relative value metrics, seeking investments that generate consistently strong risk-adjusted returns from a global opportunity set, including across different currencies.
• Communicate credit opinions and investment recommendations orally and in writing to Portfolio Managers, traders, other TRP analysts, credit and advisory committees and external clients. Work within often tight time constraints to discuss recommendations first-hand with Portfolio Managers based globally.

Qualifications:

Required:

• At least 3 years of investment grade credit research experience.
• Experience understanding and evaluating company creditworthiness of issuers across the broader European non-financial investment grade investment universe.
• Experience with financial statement modelling and analysis.
• Inquisitive nature, driven to excel in all aspects of the analytical process.  Flexible, responsive and self-starting personality with keen attention to detail. Open-minded thought process and intellectual honesty.
• Willingness to pursue and explore ideas and potential investment opportunities, supporting one’s ideas to questioning by Portfolio Managers and other analysts.
• Excellent communication skills, written and verbal.
• Self-starter who initiates and maintains active communication, especially with peers in other locations.

 Preferred:

• Knowledge and experience covering Industrials and/or Utility Sectors
• CFA