Municipals Credit Analyst, Senior Associate
Position Summary
Guggenheim Investments is seeking a Municipal Credit Analyst. The Municipal Credit Analyst is responsible for maintaining market coverage, conducting security and portfolio-level analysis, and sourcing and reviewing investments.
Responsibilities
Lead evaluation of specialized and complex investments utilizing all available sources of information including governing documents, published research, financial reports, news, rating agency reports, and market information
Analyze new issue and secondary market taxable and tax-exempt municipal credits to create reports, analyses, and recommendations
Create and maintain analytical models and tools that enhance credit research (e.g. sector-wide credit metric comparable, macro stress testing)
In-depth work on the legal characteristics of security structure, such as mutability of cash flow waterfalls, enforceability of tax levies, legality of issuance authorization, substitutability of indentures
Monitor portfolio holdings and municipal sectors for credit changes and material news and events
Formulate and manage sector investment thesis and strategy and communicate firm-wide, incorporating the firm’s macro views
Prioritize investment activities considering Portfolio needs, desk resources, and market risk/value
Create and maintain desk tools that improve investment process and efficiency (e.g., secondary offerings, trade reports, bi-weekly meeting data, credit review log)
Create and institutionalize credit research reporting, credit memo templates, and ESG analysis framework
Author the municipal sector team’s Quarterly Outlook thought leadership piece
Ensure adherence with firm policies and procedures with respect to investment underwriting, compliance, trading
Direct surveillance, research, and project activities in conjunction with the Team Leader
Develop project scope and set priorities for technology and research initiatives
Aid in the creation and maintenance of marketing materials
Qualifications
BA/BS in a quantitative discipline to include finance, business, economics or accounting
Minimum 5 years’ experience in credit research and analysis
CFA or progress toward CFA is required
Experience with industry standard tools and data products such as Bloomberg, BRS, Ipreo, TM3
Advanced Excel skills are required. SQL, Python skills are desirable
Strong credit, finance, economic, business, and technical skills
Strong written and verbal communication skills
Strong commitment to performance and accuracy of work product
Preferred Qualifications:
Advanced degree (MFE, MBA) or equivalent educational background are desirable
Strong credit, finance, economic, business, and technical skills
Ability to multi-task across analytical, administrative, and research activities in a detail oriented and timely manner
Team oriented individual with ability to work independently and work well with diverse groups in a market-paced environment
Pay
Salary Range: Annual base salary between $140,000.00-$145,000.00