Trader, Investment Grade Credit
About The Position
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)
- Ability to execute efficiently at scale and coordinate information flow across the Global Credit Desk (market color, axes, relative value, and execution strategy)
- 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
- 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.
- 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
Benefits
- Total compensation approach which includes a base salary and a discretionary bonus
- Base salary is the fixed component of compensation that is determined by core job responsibilities, relevant experience, internal level, and market factors.
- Discretionary bonus is used to award performance and therefore is determined by company, business, team, and individual performance.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
No Education Listed
