Alternative Credit Analyst

Brown Brothers Harriman•New York, NY

11d•$85,000 - $100,000•Onsite

About The Position

At BBH, Partnership is our approach to business and relationships. We know that supporting your professional and personal goals is the best way to help our clients and advance our business. We take that responsibility seriously. With a 200-year BBH legacy and a shared passion for what’s next, this is the right place to build a fulfilling career. BBH’s Credit Alternatives investment unit focuses on alternative opportunities in swiftly growing segments of the credit markets, including asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), collateralized loan obligations (CLOs) and business development companies (BDCs). Its experienced investment team is a lead investor in all of these segments. The Credit Alternatives investment team manages over $12b AUM, which are a key constituent of BBH’s structured fixed income strategy (on behalf of dozens of SMA clients and multiple commingled funds) as well as BBH’s taxable fixed income strategies. In addition to debt investments, the team is also an active investor in difficult to source, higher return equity and residual investments that are in high demand from alternatives investors. The team is entrepreneurial in its search for value, leverages its deep relationships with hundreds of issuers and underwriters, and commits to the highest level of integrity in its analysis and investment process. The Alt Credit Analyst is an entry-level investment position responsible for evaluating structured fixed income securities, making investment recommendations and helping evaluate other proposed investments in a team context. With a particular focus on Collateralized Loan Obligations (“CLOs”), this person will also gain exposure to ABS and BDC investments. This position analyzes the durability, management and financial structure of individual structured fixed income issuers, as well as sector dynamics, and valuation discrepancies between securities, sectors and grades. The Alt Credit Analyst works collaboratively with other analysts, traders and portfolio managers to support the investment of our structured fixed income portfolios. This position is expected to focus on CLOs across credit grades from Investment Grade through Sub-Investment Grade tranches, but will also interact with Consumer and Commercial Asset Backed Securities (“ABS”). No prior experience is necessary; this is a full-time position open to college graduates or individuals looking to deepen their career in credit alternatives.

Requirements

Up to 4 years of relevant experience is helpful but not required
BA/BS required with superior academic achievement
Knowledge of BBH products, services, practices and investment philosophy
Knowledge of one or more fixed income industries including current trends
Proven ability to analyze complex issues and make sound decisions
Intellectual courage and a systematic thought process
Strong relationship management and people skills
Excellent negotiating and influencing skills
Excellent quantitative and qualitative skills
Excellent conceptual and critical thinking skills
Strong oral and written communication skills
Experience with Microsoft Office Products, particularly Excel, required

Responsibilities

Credit Analysis and Research
Financial modeling and investment analysis of structured fixed income securities.
Recommend investment actions for structured fixed income securities, based on credit risk, and quantitative research and analysis.
Work with fixed income traders and other analysts to identify, evaluate and locate potentially mispriced corporate bonds.
Research and document credit recommendations in designated industry sectors.
Provide the trading desk with pricing guidance for new purchases.
Analyze the overall financial strength and risk of individual issuers.
Analyze market and pricing trends, plus yield and duration considerations between different fixed income sectors.
Monitor credit of securities, in the designated industry sectors, and take action as appropriate.
Discuss individual investments and our investment process appropriately and compellingly with clients.
Management
Present and discuss covered sectors and individual recommendations.
Communicate investment performance to analysts and client relationship teams.
Maintain fluency in applicable regulations, as well as internal policies and procedures.
Encourage and demonstrate strong team behaviors - help your colleagues make better investment decisions.