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Vice President, Municipal Credit Analyst
Prudential Securities
Newark, NJ, United States
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Description
Business Overview:
PGIM Fixed Income is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, New Jersey, London, Tokyo and Singapore. As of December 31, 2017, the firm has $709 billion in assets under management* including $291 billion in institutional assets, $122 billion in retail assets, and $296 billion in proprietary assets. More than 500 institutional asset owners have entrusted PGIM Fixed Income with their assets.
*Assets under management (AUM) are based on company estimates and are subject to change. PGIM Fixed Income’s AUM includes the following businesses: (i) the public fixed income unit within PGIM Limited, located in London; (ii) locally managed assets of PGIM Japan Co., Ltd (PGIM Japan), located in Tokyo; and (iii) the public fixed income unit within PGIM (Singapore) Pte. Ltd., located in Singapore.
Job Description:
The Senior Credit Analyst (Analyst) will be a member of an investment team that manages municipal bonds and will be assigned to cover various credit sectors including project finance and special assessments. The Analyst will work closely with the head of Municipal Credit Research and interact with the Municipal Credit Team, but will also work directly with the Municipal Portfolio Managers in developing recommendations on positioning individual credits and sectors within client portfolios. These recommendations will be the result of core fundamental analysis on the borrowers together with a relative value assessment of risk-adjusted return opportunities within the analyst's sectors. The role will involve regular direct interaction both with underwriters and the management of borrowers.
Responsibilities:
• Building and maintaining Microsoft Excel models
• Tracking credit developments
• Interviewing borrower management about business and financial strategies
• Documenting research
• Interacting with underwriters and issuers on the latest securities offerings
• Monitoring opportunities through frequent meetings with portfolio managers
• Making investment recommendations
Qualifications
• Ten or more years’ experience credit analysis of municipal sectors.
• Experience with high yield and distressed credits strongly preferred.
• Strong bottom up credit fundamental analysis and modeling skills.
• Excellent communication skills and ability to write clearly and concisely.
• Ability to work independently in a fast paced environment.
• Bachelors degree required; MBA or CFA preferred.