Job Code #: JC-316427
Position #(s): 275-630-4633-006
Working Title: Senior Credit Research Analyst
Classification: ASSOCIATE INVESTMENT MANAGER,PUBLIC EMPLOYEES` RETIREMENT SYSTEM
$9,125.00 – $15,208.33
This position is eligible for annual and long-term incentive awards. The annual incentive opportunity is 0-40% of salary and is based on the level of achievement against several quantitative and qualitative measures. The long-term incentive program provides an additional opportunity of 27-40% of base salary beginning after five years and when absolute total fund returns meet or exceed board-approved thresholds.
# of Positions: 1
Work Location: Sacramento County
Job Type: Permanent, Full Time
Our Global Fixed Income (GFI) group is currently seeking an Associate Investment Manager (AIM) to provide credit research analysis, portfolio recommendations and drive our CalPERS mission.
Duties include but are not limited to:
- Act as the subject matter expert and primary credit analyst responsible for credit investments in a major subsector of the Corporate Index (i.e., Bank & Finance, Telecom, Media, and Technology, Utilities, etc.). Develop investment frameworks for relevant industries and the analysis of issuers with complex capital structures.
- Provide fundamental credit research analysis of both cash flow and asset coverage, as well as comparative assessment of market value within sectors. Identify trends and changes in competitive positions within industries. Develop models for analysis, including sensitivity analyses to assess pro forma and projected financial performance. Develop, support, and defend relative value corporate bond recommendations.
- Independently perform quantitative and qualitative analysis of risk and return for assigned companies and present to the CalPERS Internal Credit Committee. Publish periodic company and industry overviews pertaining to the safety of current investments and future opportunities – providing buy, sell, or add recommendations.
Telework Information: This position is eligible for hybrid work schedule, with up to two days of remote work and three days or more onsite, per week.
In addition to evaluating each candidate’s relative ability, as demonstrated by quality and breadth of experience, the following factors will provide the basis for competitively evaluating each candidate:
- A comfort and appreciation for operating in a team and consensus driven environment is a key aspect underlying success in the CalPERS environment.
- A high degree of initiative, professionalism, confidentiality, and able to work well under pressure in a fast-paced environment.
- Be flexible in adapting to changes in priorities, assignments, and other interruptions which may impact pre-established timelines and courses of action.
- Excellent written and verbal communication, attention to detail, and organizational skills.
- 5-10 years of experience as a credit analyst in an investment or banking organization.
- MBA or possession of an advanced degree in finance or another applicable technical field.
- Professional certification such as a CPA, CFA, MFE, ASA/FSA.
- Advanced personal computer experience with financial databases and software applications that include Excel, Word, PowerPoint, BlackRock, Aladdin, and Bloomberg.
- Basic computer programming and data mining abilities.
- Ability to research industry and issuers of corporate bond and money market securities.
- Quantitatively oriented and comfortable analyzing and reporting on large amounts of data.