High Income Research Analyst II - 2006139

Company: Fidelity Investments
Location: Boston, MA
Posted on: April 24, 2020

Job Description:

Position Description:

Serves as a high-income analyst responsible for global bank and non-bank financials -- aircraft leasing, consumer finance, and middle market lending. Carries out fundamental equity analysis, using financial statements, regulatory policy documents, industry publications, economical statistical data, leveraged loan credit agreements, bond indentures, industry conferences, and meetings with company management. Develops buy/sell recommendations based on capital structure, including preferred securities, capital instruments, AT1s, bonds, and equity.

Primary Responsibilities:

Underwrites risk positions and maintains credit/equity surveillance.

Serves as an in-house sector expert and fundamental thought leader in the global financial sector.

Creates and maintains Excel-based financial models, analysis, and projections.

Develops ad hoc briefings and research for portfolio managers and sector leaders.

Presents sector views and opinions.

Participates in monthly investment team meetings.

Maintains coverage of assigned sector stocks, leveraged loans, and bonds held in the portfolio, including performing industry analysis, monitoring trends, and developing a view regarding the relative attractiveness of the assigned sub-sectors.

Maintains up-to-date recommendations and target prices for stocks, preferred securities, and bonds.

Creates and maintains proprietary financial models and valuation analysis.

Monitors investment theses to track the progress of dynamic and critical variables.

Communicates updates and recommendations to portfolio managers and sector team.

Education and Experience:

Masters degree (or foreign education equivalent) in Finance, Accounting, Statistics, Business Administration, Mathematics, or a closely related field and two (2) years of experience in the job offered or two (2) years of experience performing fundamental analysis on commercial banks and analyzing bank equity, credit, and hybrid instruments.

Skills and Knowledge:

Candidate must also possess:

Demonstrated Expertise (DE) performing industry analysis -- macroeconomic forecasting, quantifying pace of technology innovation, and interfacing with regulators globally -- using supply-demand models -- SNL, Federal Reserve databases and ECB, EBA and BIS databases; running self-directed channel checks with executives of comparable companies; building MS Excel forecast/valuation models with multiple operating and capital structure scenarios; and running Capital IQ/Bloomberg screens for idea generation.

DE analyzing bank and non-bank financials, valuing securities, and recommending credit and equity investments, investment grade and high yield (IG/HY) credit, and equity by assessing future fundamental positioning, capital generation, and capitalization metrics, using Excel and Bloomberg; and applying fixed income mathematics to compute credit spreadsheets through MS Excel and Bloomberg models.

DE analyzing legal and non-financial aspects of investing, including capital hierarchy and distressed debt waterfall valuation, for claims at each level of a capital structure in restructuring and bankruptcy situations; and interpreting and amending credit agreements in performing credit situations with a focus on covenant analysis quantifying limitation on liens, debt incurrence, and restricted payments.

DE building and executing proprietary processes to analyze and identify investments with risk-adjusted returns and applied across asset classes -- equities, preferred securities, bonds, loans, and convertible bonds; and independently presenting investment recommendations to portfolio managers.

For full job details and to apply, please visit https://jobs.fidelity.com/ and search for job number: 2006139

Keywords: Fidelity Investments, Boston , High Income Research Analyst II - 2006139, Finance , Boston, MA, Massachusetts