Associate Manager-Credit Research-High Yield

3 weeks ago


Navi Mumbai, India Sutherland Full time

Location: Navi Mumbai | Bangalore

Experience: 5- 9 Years

Skills: Financial Modelling | Credit Research | Report Writing


About the Company

Sutherland is seeking to fill a Senior High Yield Credit Analyst. As a part of the Credit Research Team, you will work with a group of investment professionals to maximize the risk/return potential of high yield investments while also collaborating with the larger Credit Research team.


About the Role

The Senior Analyst will be responsible for the credit coverage of a few major sectors and multiple individual company positions. Research delivery will include supporting primary and secondary trades while maintaining portfolio coverage on existing exposures. The candidate is required to have a good understanding of one or many fixed income asset classes, such as High Yield Bonds, and Leveraged Loans. The candidate should have prior experience towards supporting on primary and secondary deals by developing extensive financial models with multiple forecast scenario workouts and drafting of Investment Memo in an efficient and time-bound manner, together with excellent written & verbal communication skills to interact with onsite analysts and portfolio managers; which are some prerequisites for the role. The team works as the virtual front-end analysts for clients, helping them find value in potential investment opportunities and thereafter, monitor the investment's performance.


Responsibilities

  • Monitor single name corporate credit situations in North America across performing and opportunistic strategy in both leveraged loan and high yield markets
  • Perform investment research, including:
  • Building financial models with KPI driven Revenue models, Cost drivers, Working capital analysis, Capex schedule, Capital Structure forecast, Covenant analysis, Default & Recovery workouts and IRR sensitivities;
  • Term Sheet preparation from credit agreements and bond indentures
  • Drafting Investment Memos including identification of investment catalysts and provide recommendations on high yield bonds/loans, including fundamental and relative value views for primary and secondary trades
  • Presenting the primary/secondary deals to the investment committee. Have full-ownership of the deal and monitoring its constant performance against benchmark bonds.
  • Maintain portfolio coverage including model updates and earning summary write-ups, while maintaining regular news on the portfolio


Qualifications

To succeed in this position, you must have:


  • MBA or equivalent in Finance /CFA/CA
  • Minimum of 4-5 years of buy-side or sell-side experience covering single name corporate credit in high yield markets, across Leveraged Loans and/or Bonds asset classes
  • Proficiency in building extensive financials models with 3-statement forecast (all interlinked) and developing base and downside cases
  • Experience in writing Investment Memos covering primary and secondary trades
  • Generalist with good sector exposure in any of TMT, Healthcare, Autos, Manufacturing, Oil & Gas sectors
  • Proficiency in using Databases & Portfolio Asset Management Systems- Bloomberg, CapIQ, FactSet, Syndication sites, Everest, eFront
  • Ability to work under pressure and deliver high-quality research in a timely manner



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