Credit Analyst - High Yield

At T. Rowe Price, we identify and actively invest in opportunities to help people thrive in an evolving world. As a premier global asset management organization with more than 85 years of experience, we provide investment solutions and a broad range of equity, fixed income, and multi-asset capabilities to individuals, advisors, institutions, and retirement plan sponsors. We take an active, independent approach to investing, offering our dynamic perspective and meaningful partnership so our clients can feel more confident. 

We believe doing the right thing for our clients and our associates is good business. With a career at the firm, you can expect opportunities to create real impact at work and in your community. You’ll enjoy resources to support your career path, as well as compensation, benefits, and flexibility to enrich your life. Here, you’ll find a collaborative culture that respects and values differences and colleagues who share a spirit of generosity.  

Join us for the opportunity to grow and make a difference in ways that matter to you. 

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 existing high yield bonds as well as monitor the progress of existing portfolio holdings.

Principal Responsibilities

• Conduct independent, fundamental high yield credit research to identify and initiate investment ideas.
• Analyse 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.

PERSONAL ATTRIBUTES / SKILLS / QUALIFICATIONS

Required:

• University degree with a minimum of three years of relevant work experience in a credit research role preferably within Asset Management.
• Solid analytical skills, insight and effective communication are critical attributes for the successful candidate.  TRP emphasises a team-oriented approach, which will require the analyst to demonstrate these attributes on both an individual and group level.
• Proven 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 .

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. 

T. Rowe Price Is An Equal Opportunity Employer And Values Diversity Of Thought, Gender, And Race. We Believe Our Continued Success Depends Upon The Equal Treatment Of All Associates And Applicants For Employment Without Discrimination On The Basis Of Race, Religion, Creed, Colour, National Origin, Sex, Gender, Age, Mental Or Physical Disability, Marital Status, Sexual Orientation, Gender Identity Or Expression, Citizenship Status, Military Or Veteran Status, Pregnancy, Or Any Other Classification Protected By Country, Federal, State, Or Local Law.