Director, Covenant Analyst

Covenant Review is seeking a seasoned leveraged finance lawyer to join our market-leading leveraged finance intelligence team as a Director—Covenant Analyst in our New York office.

About the role

The role involves producing insightful leveraged finance research consumed by hedge funds, CLOs, law firms, and sell-side financial institutions, as well as participating in thought leadership presentations on leveraged finance topics. A keen eye for detail, issue spotting, transaction structuring, impeccable writing, and the ability to present and explain complex concepts are essential. The key skill is deconstructing complex contract provisions and summarizing them in written research, subscriber calls, or presentations.

Responsibilities

• Write research reports on high yield bond and investment grade bond covenants, following issuers from new issuance to bankruptcy.
• Write event-driven research and reports on special situations as they develop in the market.
• Create research for a growing library of covenant primers targeted at less sophisticated subscribers.
• Produce market-leading reports that set the conversation on new trends and market developments.
• Participate in thought leadership presentations and webinars to help the market understand complex concepts, case studies, or documentation trends.
• Engage with subscribers seeking clarification on research or discussing potential transactions.
• Establish credibility as a subject matter expert on leveraged finance.
• Meet tight publication deadlines.

Requirements

• 6+ years of Big Law experience in leveraged finance, with extensive experience drafting, negotiating, and reviewing leveraged finance documentation, including credit agreements or indentures.
• Deep understanding of the leveraged finance market and how covenants and financial definitions work in leveraged finance documents.
• Ability to communicate complex issues clearly and engage with sophisticated credit investors.
• Comfort participating in subscriber calls or presentations on thought leadership topics.

Qualifications

• Experience in distressed debt and special situations analysis with leveraged finance documents governed by NY law.
• Solid business acumen with commercial sensibilities.
• Experience working on deadline.
• Familiarity with AI research tools and willingness to adapt to a shifting technological landscape.

Benefits

• Hybrid work environment: 2 to 3 days a week in office.
• Culture of learning and mobility: Dedicated trainings, leadership development, and mentorship programs.
• Retirement planning and tuition reimbursement programs.
• Comprehensive healthcare offerings supporting physical, mental, financial, social, and occupational wellbeing.
• Supportive parenting policies, including a generous global parental leave plan.
• Inclusive work environment with Employee Resource Groups.
• Paid volunteer days, matched funding for donations, and community volunteer opportunities.

Pay

Expected base pay for this role is approximately $250,000 to $275,000 per year. Actual salaries will vary based on factors including education, training, experience, and past performance. Base pay is one part of Fitch’s total compensation package, which may also include commission earnings, discretionary bonuses, long-term incentives, and other benefits.

Schedule

Fixed hours with no late night or weekend work.