Municipal Credit Analyst

Northwestern Mutual • Milwaukee, WI

1d • Hybrid

About The Position

About the Job: The role centers on fundamental credit research across investment‑grade municipal bonds, developing forward‑looking credit views and issuer‑level risk assessments. Responsibilities include monitoring credit, operating, and capital trends across key municipal sectors and synthesizing financial, legal, economic, demographic, and political/regulatory factors into clear actionable conclusions. This position involves building sector frameworks with scenario analysis, producing clear, well‑reasoned written research and investment recommendations, and leveraging advanced analytics, technology and AI‑enabled tools to enhance efficiency. The role also collaborates across the Public Investments platform to ensure consistent credit philosophy and support multi-sector strategies. What You’ll Do: Demonstrates expertise across the municipal market, including state and local governments, not-for-profit entities, and other public sector organizations. Performs comprehensive fundamental credit analysis of issuers, encompassing financial statement review, assessment of financial policies, evaluation of management performance, and analysis of credit ratings. Leads and directs sector research, maintaining up-to-date knowledge of industry trends to deliver in-depth credit assessments and sector perspectives. Exhibits strong written and verbal communication skills, crafting concise and persuasive investment theses and recommendations. Delivers timely and well-founded investment recommendations aligned with current portfolio strategy. Assumes leadership and collaborates on team-wide projects and initiatives, particularly those focused on data and technology enhancements. Integrates new technologies, data management systems, and analytical tools into municipal research processes. Partners with management to enhance research methodologies, development procedures, and the adoption of best practices. Group/Organizational Dynamic: Promotes a culture of mutual respect and high ethical standards. Adopts NM Behaviors: Client First, Powered by Our People, Future Focus. Exercise good judgment and independent thought. Generates and leads process improvements through the effective use of technology and data science. Effectively respond in a timely manner to requests for data, opinions, and other information. Attends, leads, and participates in group activities and actively engages others in relevant discussions.

Requirements

• Five+ years of experience researching municipal bonds, ideally at a buy-side asset manager, rating agency, or similar platform.
• Knowledge of debt capital markets and municipal debt structures, with demonstrated expertise in revenue-backed municipal sectors and familiarity with legal security structures, covenants, flow-of-funds, and issuer financials.
• Bachelor’s degree with an emphasis on municipal finance, economics, statistics or a related field; MBA desirable.
• CFA designation or progress towards attaining the CFA designation required.
• Strong analytical skills, particularly in financial statement analysis and presenting credit recommendations for potential investment opportunities.
• Effective oral and written communication skills, with ability to prioritize work effectively.
• Proficiency with Investor Tools CreditScope, Bloomberg, Blackrock Aladdin and other data analytic tools is desirable.

Nice To Haves

• MBA desirable.
• Proficiency with Investor Tools CreditScope, Bloomberg, Blackrock Aladdin and other data analytic tools is desirable.

Responsibilities

• Demonstrates expertise across the municipal market, including state and local governments, not-for-profit entities, and other public sector organizations.
• Performs comprehensive fundamental credit analysis of issuers, encompassing financial statement review, assessment of financial policies, evaluation of management performance, and analysis of credit ratings.
• Leads and directs sector research, maintaining up-to-date knowledge of industry trends to deliver in-depth credit assessments and sector perspectives.
• Exhibits strong written and verbal communication skills, crafting concise and persuasive investment theses and recommendations.
• Delivers timely and well-founded investment recommendations aligned with current portfolio strategy.
• Assumes leadership and collaborates on team-wide projects and initiatives, particularly those focused on data and technology enhancements.
• Integrates new technologies, data management systems, and analytical tools into municipal research processes.
• Partners with management to enhance research methodologies, development procedures, and the adoption of best practices.

What This Job Offers

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