High Yield Credit Analyst

Requisition Number: 81277

Position Title:

External Description:

Role Summary

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 well as monitor existing portfolio holdings to generate superior risk-adjusted returns.

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. Also develop and apply relative value metrics, seeking investments that generate above-average returns without excessive risk.

Qualifications

Required:

• College degree with a minimum of three years of relevant work experience analyzing Fixed Income securities.
• Most critical attributes are solid analytical skills, insight and effective communication.  TRP emphasizes a team-oriented approach, which will require the analyst to demonstrate these attributes on both an individual and group level.
• 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.

Preferred:

• Advanced degree (MBA) and/or CFA

FINRA Requirements

FINRA licenses are not required and will not be supported for this role.

Work Flexibility

This role is eligible for hybrid work, with up to one day per week from home.

City:

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Community / Marketing Title: High Yield Credit Analyst

Company Profile:

Location_formattedLocationLong: Maryland, US

CountryEEOText_Description: Commitment to Diversity, Equity, and Inclusion: We strive for equity, equality, and opportunity for all associates. When we embrace the power of diversity and create an environment where people can bring their authentic and best selves to work, our firm is stronger, and we create greater value for our clients. Our commitment and inclusive programming aim to lift the experience for each associate and builds allies for our global associate community. We know that a sense of belonging is key not only to your success at the firm, but also to your ability to bring your best each day. Benefits: We invest in our people through a wide range of programs and benefits, including: • Competitive pay and bonuses as well as a generous retirement plan and employee stock purchase plan with matching contributions • Flexible and remote work opportunities • Health care benefits (medical, dental, vision) • Tuition assistance • Wellness programs (fitness reimbursement, Employee Assistance Program) Our policies may change as our working lives evolve. Yet, our commitment to supporting our associates’ well-being and addressing the needs of our clients, business, and communities is unwavering. T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.