Investment Analyst
Posted 10 days ago
Investment Analyst with Fundamental Research Associates Inc. in New York, NY
DUTIES:
Analyze investment opportunities, research new investment strategies, and interpret and analyze complex financial data. Perform fundamental credit analysis (including economic and financial modelling, industry research, management analysis, and differentiated research) in various sectors, including the industrials and paper & packaging industry. Enhance knowledge of risk and portfolio oversight, both independently and by leveraging the Team’s thorough understanding of the risk and payoff profiles across the range of range of instruments (corps, converts, equity, options) and trade structures to better express views, capture alpha, and manage risk. Apply modeling techniques for corporate capital structures and derivative pricing (options, credit derivatives), risk measurement/management, and performance attribution techniques. Participate in and support the due diligence process of Credit Investment (CI) investments, identifying key investment merits and risks, meeting with management teams, and reviewing data-room documentation and third-party reports. Support and perform preliminary analysis of CI investment opportunities including review of public information. Analyze existing credit documents and review equity, fixed income, and ratings reports. Develop and validate detailed financial models, including running downside scenarios and reviewing financial projections. Undertake fundamental and quantitative analysis of various financial products, including reading analyst reports and scrutinizing complex financial documents and publications. Cover multiple CIs in a fast-paced environment requiring efficient evaluation of opportunities. Clearly identify and communicate the investment advantages and risk scenarios for each investment. Proactively identify new investment opportunities to contribute to the business across trading strategies. Build financial models and making investment decisions in a risk adjusted, probabilistic manner.
Telework permitted up to one (1) day per week.
LOCATION:
Fundamental Research Associates Inc., 650 Fifth Avenue, 33rd Floor, New York, NY 10019
REQUIREMENTS:
Bachelor’s degree or foreign equivalent in Economics, Business Administration or a closely related quantitative field. Two (2) years as a financial analyst, investment analyst, credit analyst, or a closely related position. Experience must include: Utilizing operating memoranda and credit rating agency reports, including Moody’s and S&P, to perform analyses of financial instruments; Evaluating financing alternatives for companies, including secured, unsecured, and convertible instruments; transform evaluations into client presentations; Assembling debt comparables, equity comparables, and precedent transactions; Executing in a lead advisory basis the following merger & acquisition (“M&A”) transactions, in a live deal capacity: public-to-public company M&A, private-company M&A, carve-out divestitures, and corporate break-up transactions; Advisory pertaining to initial public offerings, and executing in a lead/“lead-left” basis the following financing transactions, in a live deal capacity: leveraged loan issuance and high-yield bond issuance; Executing internal credit risk committee processes, including: preparation/presentation of debt paydown models, incorporation of financial scenarios within debt paydown models, utilization of market-implied expectations for interest rate changes, response to financial/operational due diligence questions from internal risk committees, preparation of memos outlining financial/operational/industry-related details for presentation to internal risk committees; Performing industry coverage of the industrials sector, including transaction experience (live deal execution team) involving companies from the paper and packaging industry; Creating and maintaining asset-level financial profiles, including mill assets, and utilizing RISI to track commodity data, including pulp & paper pricing at grade/hub level; Leading coordination of deal execution work streams, including ratings agency & investor presentation drafting, CIM drafting, management presentation drafting, buyer models, site visits, and business due diligence; Modelling, analyzing, and conveying financial and strategic merits of acquisitions to lenders; Creating operating models for commodity-oriented businesses (pulp/paper/forestry products); Creating models to measure credit risk, including liquidity risk, interest rate risk, and market risk; Forecasting company performance under a range of variables (commodity price assumptions, cost structure assumptions, capital expenditure assumptions, capital structure assumptions), utilizing historical economic and industry trends; Validating financial models, including checking assumptions, back-testing results, and evaluating model performance in real-time; Refining and testing valuation models (discounted cash flow and leveraged buyout analyses) to improve accuracy and account for market variables.
M-F, 40 hrs/wk, $150,000 to $200,000/yr
For over 30 years, Weiss Asset Management has developed proprietary value-based investment strategies designed to deliver high risk-adjusted returns to our investors, who include charitable foundations, pension plans, endowments, hospitals, government entities and private investors. We manage approximately $4 billion across hedge funds and institutional accounts. We work collaboratively to solve problems, and to identify undervalued assets through deep fundamental research, statistical analysis and an analytically rigorous approach to decision making. Above all else, we value integrity, uncompromising rationality, creativity and entrepreneurship, and continuous learning and improvement. Our team of over 130 individuals is the engine of our success, and we welcome truly exceptional candidates from all backgrounds. WAM is a fit for you if: •You enjoy a collaborative environment, where decisions are made in diverse teams. At WAM, all employees can expect to work directly with members of other departments representing a range of backgrounds. •You work well in a flat structure and are comfortable voicing dissenting opinion. Talent and work ethic will dictate what you can achieve at WAM, as evidenced by the fact that the majority of our managing directors began their careers here as interns. •You are driven to constantly learn, improve, and make rational decisions based in fact and data, and you welcome receiving feedback as well as sharing knowledge with others. •You prioritize acting ethically in all situations. WAM is an equal opportunity employer. Women, minorities, people with disabilities, and veterans are encouraged to apply.
Key team members
Michael Miller
Alexander C. Weiss
Matthew R.
Paul Sherman
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