Equity Research Associate – Utilities, Power & Renewables

BMO Capital Markets is a leading, full-service North American-domiciled financial services provider offering equity and debt underwriting, corporate lending and project financing, merger and acquisitions advisory services, securitization, treasury management, market risk management, debt and equity research, and institutional sales and trading. With approximately 2,700 professionals in 33 locations worldwide, the Equity Research department covers over 900 stocks across diverse sectors, providing equity strategy, quantitative analysis, and portfolio management services. The US Equity Research department consists of 31 analysts and 50+ associates covering over 500 stocks.

About the role

We are seeking an Equity Research Associate to join our Utilities, Power & Renewables team. The associate will be an integral member of the team, working closely with the senior analyst and two other team members to develop and market all equity research products. The role requires strong analytical and critical thinking skills, a passion for the stock market, keen attention to detail, and a strong work ethic. The work environment values collaboration, coordination, and a shared knowledge base, as well as independence, initiative, idea generation, and a sense of ownership.

Ideal Candidate

Our ideal candidate is fully licensed, has several years of equity research experience (ideally in the utilities, power, and/or renewables sectors) or several years of industry-related experience, a strong financial background, and a desire to help create, launch, and support new research in the utility, power, and renewables space. Interest in data center development/economics, infrastructure to serve associated large loads, and power market fundamentals are a significant plus. Strong accounting and finance skills, a passion for the stock market, and the ability to work on a fast-paced equity research team are critical.

Responsibilities

• Building and maintaining detailed company models (IS/BS/CF)
• Analyzing financial statements and news related to industry coverage
• Analyzing company filings (10-K, 10-Q, earnings releases) and company transcripts
• Writing equity research reports and, over time, formulating investment theses
• Participation in site visits and management meetings
• Maintaining and analyzing industry data
• Communicating investment recommendations to internal and external clients
• Collaborating in developing tools and processes to gather industry and company-related news for dissemination to clients
• Working to establish industry, regulatory, and political relationships to better predict and/or handicap industry trends or company-related events

Requirements

A combination of writing skills, technical knowledge, and skills in equity research, finance, or accounting demonstrated through relevant work and educational experience is required. Prior industry experience in the utility, power, or renewable sectors is not required but could be beneficial. Candidates must have a clear and proven track record of achievement throughout their education and career.

Skills

• Exceptional written and verbal communication skills
• Strong organizational skills and comfort managing various priorities
• Client service mindset and ability to prioritize client needs with accuracy
• Ability to interact professionally with company management teams and clients (analysts and portfolio managers) over time
• A keen interest in and demonstrated understanding of Equity Research
• A positive attitude, intellectual curiosity, the ability to learn quickly, and strong attention to detail
• Superior work ethic, self-motivation, and the ability to work both collaboratively and independently
• Ability to systematically manage a heavy workload and meet stringent deadlines
• Flexibility to work irregular and extended hours
• Solid technology skills with robust knowledge of Excel, Word, PowerPoint, Bloomberg, and/or FactSet
• Demonstrated use of AI in the workplace

Qualifications

• Bachelor’s degree is required; a post-secondary degree in a related field of study is a plus
• CFA Charter or working towards the CFA designation is a plus

Pay

The salary range for this role is $110,000 up to $140,000 USD (for Senior Research Associate: $150,000 up to $180,000 USD), subject to the candidate meeting specific skills, experience, education, and qualification requirements. Salaries will vary based on factors such as location, skills, experience, and qualifications for the role, and may include a commission structure. For commission roles, the salary listed represents BMO Financial Group’s expected target for the first year in this position.

Benefits

BMO Financial Group’s total compensation package may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. For more details, visit BMO Total Rewards.

About Us

At BMO, we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities, and our people. As a member of the BMO team, you are valued, respected, and heard, with opportunities to grow and make an impact. We provide tools and resources such as in-depth training, coaching, manager support, and network-building opportunities to help you gain valuable experience and broaden your skillset.