Associate - Research, Fixed Income

BlackRock • New York, NY

1d • Hybrid

About The Position

About this role Company: BlackRock Financial Management, Inc. Job Title: Associate - Research, Fixed Income Location: 50 Hudson Yards, New York, NY 10001 Job Duties: Provide quantitative and analytical support to analysts and portfolio managers investing in Investment Grade bonds by developing, maintaining, and enhancing financial and valuation models; preparing issuer-specific and sector-level analyses; and generating investment frameworks that support security selection, portfolio construction, and risk/return optimization. Perform fundamental credit research and relative-value analysis on corporate issuers by evaluating financial statements, forecasting cash flows, analyzing leverage and coverage ratios, assessing capital structures and liquidity profiles, and benchmarking credit spreads across issuers, sectors, and rating categories. Translate findings into actionable investment recommendations, detailed credit research reports, and investment thesis. Monitor and track bond spreads, trading activity, and price movements of covered companies using Bloomberg and Aladdin, rating agency publications, earnings announcements, and market news to identify changes in relative value. Analyze macroeconomic and industry trends and their impact on credit strength of the companies under coverage by assessing interest rate movements, commodity price cycles, consumer demand patterns, regulatory changes, and global trade policies. Use scenario and sensitivity analyses to evaluate potential impacts on credit quality, relative valuation, and portfolio risk. Engage with external stakeholders including company management teams, credit rating agencies (e.g., Moody’s, S&P, Fitch), industry associations, and sell-side analysts to gather insights on corporate strategies, sector outlooks, and credit rating methodologies. Communicate investment insights and research findings by preparing and delivering written reports, deep-dive presentations, and investment thesis to portfolio managers, and senior stakeholders. Collaborate with cross-functional teams, including data strategy groups, to integrate Generative AI tools into the credit research process, enhancing efficiency, expanding coverage, and strengthening investment decision-making. Qualifications: Bachelor’s degree in Finance, Accounting, Business Analytics, Economics or a related field and three (3) years of experience as an Associate, Analyst or a related role. Must have three (3) years of experience with: Expertise in financial modeling and valuation methodologies, including discounted cash flow (DCF), leverage analysis, recovery modeling, and sensitivity/scenario analysis and relative value frameworks; Proficiency in credit risk assessment and credit research, including credit ratio analysis, cash flow forecasting, peer benchmarking, covenant evaluation and liquidity assessment; Advanced knowledge of corporate credit markets, including investment grade, high-yield, and leverage loans; Experience with fixed income research and analytics tools and platforms, including Bloomberg, FactSet, Refinitiv/Eikon, Capital IQ and rating agency databases; Advanced Excel skills and proficiency with programming and data analytics tools including VBA, Python, and SQL for large-scale data analysis; Ability to analyze legal and regulatory disclosures, including litigation filings, industry-specific regulations and policy updates; Sector-specific expertise in evaluating corporate issuers within industries such as consumer, retail and healthcare; Experience in portfolio monitoring and performance attribution; Excellent written and verbal communication skills to produce high-quality research, presentations, and recommendations for internal and external stakeholders; and Knowledge of integrating ESG factors into credit analysis and investment decision-making, including evaluation of environmental, social, and governance risks. Must have two (2) years of experience with: Proven ability to collaborate with cross-functional and external partners, such as data science teams, AI and technology groups, and third-party research providers. Must have one (1) year of experience with: Familiarity with applying Generative AI and advanced analytics to enhance credit research workflows and improve efficiency. To apply, please click “Apply” on this webpage. For New York, NY Only the salary range for this position is USD$137,500.00 - USD$155,000.00 . Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance. Our benefits To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about. Our hybrid work model BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock. About BlackRock At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress. This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive. For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock BlackRock is proud to be an equal opportunity workplace. We are committed to equal employment opportunity to all applicants and existing employees, and we evaluate qualified applicants without regard to race, creed, color, national origin, sex (including pregnancy and gender identity/expression), sexual orientation, age, ancestry, physical or mental disability, marital status, political affiliation, religion, citizenship status, genetic information, veteran status, or any other basis protected under applicable federal, state, or local law. View the EEOC’s Know Your Rights poster and its supplement and the pay transparency statement. BlackRock is committed to full inclusion of all qualified individuals and to providing reasonable accommodations or job modifications for individuals with disabilities. If reasonable accommodation/adjustments are needed throughout the employment process, please email [email protected]. All requests are treated in line with our privacy policy. BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law. BlackRock's purpose is to help more and more people experience financial well-being. As a global investment manager and a leading provider of financial technology, our clients—from grandparents, doctors, and teachers to large institutions—turn to us for the solutions they need when planning for their most important goals. People join our firm from around the world to gain real-world experience while making an impact. Discover how you can have a career at BlackRock that's exciting, rewarding and full of possibilities.

Requirements

• Bachelor’s degree in Finance, Accounting, Business Analytics, Economics or a related field and three (3) years of experience as an Associate, Analyst or a related role.
• Expertise in financial modeling and valuation methodologies, including discounted cash flow (DCF), leverage analysis, recovery modeling, and sensitivity/scenario analysis and relative value frameworks
• Proficiency in credit risk assessment and credit research, including credit ratio analysis, cash flow forecasting, peer benchmarking, covenant evaluation and liquidity assessment
• Advanced knowledge of corporate credit markets, including investment grade, high-yield, and leverage loans
• Experience with fixed income research and analytics tools and platforms, including Bloomberg, FactSet, Refinitiv/Eikon, Capital IQ and rating agency databases
• Advanced Excel skills and proficiency with programming and data analytics tools including VBA, Python, and SQL for large-scale data analysis
• Ability to analyze legal and regulatory disclosures, including litigation filings, industry-specific regulations and policy updates
• Sector-specific expertise in evaluating corporate issuers within industries such as consumer, retail and healthcare
• Experience in portfolio monitoring and performance attribution
• Excellent written and verbal communication skills to produce high-quality research, presentations, and recommendations for internal and external stakeholders
• Knowledge of integrating ESG factors into credit analysis and investment decision-making, including evaluation of environmental, social, and governance risks.
• Proven ability to collaborate with cross-functional and external partners, such as data science teams, AI and technology groups, and third-party research providers.
• Familiarity with applying Generative AI and advanced analytics to enhance credit research workflows and improve efficiency.

Responsibilities

• Provide quantitative and analytical support to analysts and portfolio managers investing in Investment Grade bonds by developing, maintaining, and enhancing financial and valuation models
• preparing issuer-specific and sector-level analyses
• generating investment frameworks that support security selection, portfolio construction, and risk/return optimization.
• Perform fundamental credit research and relative-value analysis on corporate issuers by evaluating financial statements, forecasting cash flows, analyzing leverage and coverage ratios, assessing capital structures and liquidity profiles, and benchmarking credit spreads across issuers, sectors, and rating categories.
• Translate findings into actionable investment recommendations, detailed credit research reports, and investment thesis.
• Monitor and track bond spreads, trading activity, and price movements of covered companies using Bloomberg and Aladdin, rating agency publications, earnings announcements, and market news to identify changes in relative value.
• Analyze macroeconomic and industry trends and their impact on credit strength of the companies under coverage by assessing interest rate movements, commodity price cycles, consumer demand patterns, regulatory changes, and global trade policies.
• Use scenario and sensitivity analyses to evaluate potential impacts on credit quality, relative valuation, and portfolio risk.
• Engage with external stakeholders including company management teams, credit rating agencies (e.g., Moody’s, S&P, Fitch), industry associations, and sell-side analysts to gather insights on corporate strategies, sector outlooks, and credit rating methodologies.
• Communicate investment insights and research findings by preparing and delivering written reports, deep-dive presentations, and investment thesis to portfolio managers, and senior stakeholders.
• Collaborate with cross-functional teams, including data strategy groups, to integrate Generative AI tools into the credit research process, enhancing efficiency, expanding coverage, and strengthening investment decision-making.

Benefits

• employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits.
• strong retirement plan
• tuition reimbursement
• comprehensive healthcare
• support for working parents
• Flexible Time Off (FTO)

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level