High Yield Credit Analyst

Role Summary

The High Yield Credit Analyst will be responsible for the credit coverage of a few major sectors and multiple individual company positions.  The individual will research new issues and secondary trade ideas as well as well as monitor existing portfolio holdings to generate superior risk-adjusted returns.

Responsibilities

• Conduct independent, fundamental high yield credit research to identify and initiate investment ideas.
• Analyze and explain economic, competitive, sector and political drivers that impact a borrower’s ability to repay its debt.  Develop well-researched short and long-term perspectives, resulting in the assignment of T. Rowe Price (TRP) bond ratings, outlooks and investment recommendations.
• Create historical and projected financial models, analyzing key financial metrics to differentiate improving from deteriorating credits.  Make buy, hold or sell investment recommendations incorporating the fundamental credit outlook.
• Interact with management teams, other credit analysts, rating agencies, sell-side analysts, and other TRP investment professionals, including fixed income and equity analysts.  Assimilate and filter various sources of information to develop long term, well-researched investment theses on sectors and issuers.
• Communicate credit opinions and investment recommendations orally and in writing to Portfolio Managers, other TRP analysts, credit and advisory committees and external clients.
• Produce and communicate regular forecasts of bond performance in selected credits. Also develop and apply relative value metrics, seeking investments that generate above-average returns without excessive risk.

Qualifications

Required:

• College degree with a minimum of three years of relevant work experience analyzing Fixed Income securities.
• Most critical attributes are solid analytical skills, insight and effective communication.  TRP emphasizes a team-oriented approach, which will require the analyst to demonstrate these attributes on both an individual and group level.
• Experience understanding and evaluating creditworthiness.
• Ability to make judgments based on market knowledge.
• Experience with financial statement modeling and analysis.
• Inquisitive nature, driven to excel in all aspects of the analytical process.  Flexible, responsive and self-starting personality with keen attention to detail. Open-minded thought process and intellectual honesty.
• Willingness to pursue and explore ideas and potential investment opportunities, supporting one’s ideas to questioning by Portfolio Managers and other analysts.
• A team player with excellent communication skills, written and verbal.

Preferred:

• Advanced degree (MBA) and/or CFA

FINRA Requirements

FINRA licenses are not required and will not be supported for this role.

Work Flexibility

This role is eligible for hybrid work, with up to one day per week from home.

Base Salary Ranges

Please review the job posting for the location of this specific opportunity.

Placement within the range provided above is based on the individual’s relevant experience and skills for the role.  Base salary is only one component of our total compensation package.  Employees may be eligible for a discretionary bonus, which is determined upon company and individual performance.

Commitment to Diversity, Equity, and Inclusion

At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all. 

Benefits