Trader, Investment Grade Credit

PIMCO•Newport Beach, CA

9h•Onsite

About The Position

PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients’ capital across a range of fixed income and credit opportunities, leveraging our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world’s largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns. Since 1971, our people have shaped our organization through a high-performance inclusive culture, in which we celebrate diverse thinking. We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility and Excellence. We believe each of us is here to help others succeed and this has led to PIMCO being recognized as an innovator, industry thought leader and trusted advisor to our clients. PIMCO is seeking to recruit a Trader, Investment Grade Credit based in Newport Beach, CA. This individual will be responsible for trading significant amounts of Investment Grade Credit assets for the firm, partnering closely with Portfolio Managers and Credit Analysts to identify relative value, manage liquidity, and implement risk-efficient trade ideas across portfolios. The role requires strong market instincts, disciplined risk management, and the ability to communicate actionable market color and trade recommendations to internal stakeholders. The trader will also manage and develop relationships with brokerage firms and issuers, including active participation in primary market execution and new issue evaluation. PIMCO has roughly $400+ billion in total Investment Grade credit exposure across all portfolios at the firm. In addition to trading experience, this position requires strong relative value skills, a solid understanding of portfolio construction and risk management, and the ability to apply fixed income credit analysis within a dynamic macro and cross-asset context. The successful candidate will show good judgment under pressure, attention to detail, and process discipline, while confidently using quantitative tools to assess risk, liquidity, and execution strategies.

Requirements

Strong academic credentials
8+ years of experience in a fixed income trading capacity (investment grade preferred)
Demonstrated experience trading Investment Grade corporates across cash, primary, and secondary markets
Excellent fixed income product knowledge and strong quantitative/analytical skills (spread analysis, curve/roll, basis, liquidity and financing)
Portfolio Management exposure is preferred, evidenced by direct responsibility for positioning and risk on a credit sleeve/book (including smaller AUM mandates) or experience supporting day-to-day portfolio decisions as a junior PM / co-PM.
Strong understanding of portfolio/risk management concepts (risk budgets, hedging tools, scenario analysis and drawdown awareness)
Strong communication skills internally and externally; effectively synthesize market developments into actionable insights; develop and maintain external trading relationships
Well organized, high energy/self-starter; must work well in a team environment and collaborate effectively with senior Portfolio Managers

Nice To Haves

MBA and/or CFA preferred
Familiarity with credit derivatives (e.g., CDX, single-name CDS) and hedging applications is a plus

Responsibilities

Trading significant amounts of Investment Grade Credit assets for the firm
Partnering closely with Portfolio Managers and Credit Analysts to identify relative value, manage liquidity, and implement risk-efficient trade ideas across portfolios
Communicating actionable market color and trade recommendations to internal stakeholders
Managing and developing relationships with brokerage firms and issuers
Active participation in primary market execution and new issue evaluation
Executing efficiently at scale and coordinating information flow across the Global Credit Desk (market color, axes, relative value, and execution strategy)
Ensuring trading activity complies with client guidelines and internal policies, in partnership with Account Managers and Portfolio Managers
Partnering with Portfolio Managers to add/reduce exposure across sectors and individual credits, balancing valuation, liquidity and portfolio constraints
Developing thoughtful trading and execution strategies aligned to portfolio objectives, including alternative approaches to achieve risk/return goals