High Yield Credit Analyst

T. Rowe Price • Baltimore, MD

1d • Hybrid

About The Position

The High Yield Credit Analyst will be responsible for the credit coverage of a few major sectors and multiple individual company positions. The individual will research new issues and secondary trade ideas as well as monitor existing portfolio holdings to generate superior risk-adjusted returns.

Requirements

• College degree with a minimum of three years of relevant work experience analyzing Fixed Income securities.
• Solid analytical skills, insight and effective communication.
• Experience understanding and evaluating creditworthiness.
• Ability to make judgments based on market knowledge.
• Experience with financial statement modeling 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.
• A team player with excellent communication skills, written and verbal.

Nice To Haves

• Advanced degree (MBA) and/or CFA

Responsibilities

• Conduct independent, fundamental high yield credit research to identify and initiate investment ideas.
• Analyze and explain economic, competitive, sector and political drivers that impact a borrower’s ability to repay its debt.
• Develop well-researched short and long-term perspectives, resulting in the assignment of T. Rowe Price (TRP) bond ratings, outlooks and investment recommendations.
• Create historical and projected financial models, analyzing key financial metrics to differentiate improving from deteriorating credits.
• Make buy, hold or sell investment recommendations incorporating the fundamental credit outlook.
• Interact with management teams, other credit analysts, rating agencies, sell-side analysts, and other TRP investment professionals, including fixed income and equity analysts.
• Assimilate and filter various sources of information to develop long term, well-researched investment theses on sectors and issuers.
• Communicate credit opinions and investment recommendations orally and in writing to Portfolio Managers, other TRP analysts, credit and advisory committees and external clients.
• Produce and communicate regular forecasts of bond performance in selected credits.
• Develop and apply relative value metrics, seeking investments that generate above-average returns without excessive risk.

Benefits

• Competitive compensation
• Annual bonus eligibility
• A generous retirement plan
• Hybrid work schedule
• Health and wellness benefits, including online therapy
• Paid time off for vacation, illness, medical appointments, and volunteering days
• Family care resources, including fertility and adoption benefits

What This Job Offers

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