Credit Analyst, Public Fixed Income

Nicola Wealth; Toronto; On-site; CAD 80,000 - 115,000; Full time

Benefits offered by this job

Profit sharing

Share ownership program

Job summary

Nicola Wealth is seeking a Credit Analyst to manage and enhance fixed income portfolios. You will lead credit research, build investment-grade and high-yield portfolios, and support risk management within a collaborative team environment.

The role emphasizes quantitative and qualitative analysis, with opportunities to engage in portfolio construction, performance reviews, and technology-driven process improvements while traveling within North America as needed.

Qualifications

• 2+ years’ experience in fixed income portfolio management and/or credit analysis.
• Undergraduate or graduate degree in a related discipline.
• Proven credit due diligence and underwriting skills.
• Experience with credit portfolio construction and risk management.
• Willingness to travel within North America.
• Legally eligible to work in Canada for any employer.

Responsibilities

• Perform in-depth research on corporate credits in investment grade and high yield spaces.
• Construct credit portfolios with strong risk/reward characteristics across mandates.
• Develop expertise in other credit markets and products for potential inclusion in the portfolios.
• Actively monitor existing portfolio positions and make relative value decisions based on research.
• Demonstrate understanding of risks of fixed income securities and companies.
• Participate in meetings with corporate issuers and industry analysts.
• Assist in preparation and presentation of materials for reviews.
• Assist with integration of new technologies to streamline investment processes.
• Contribute to model review and documentation, and back-testing.

Skills

Credit analysis

Portfolio management

Financial modeling

Data analysis

Willingness to travel

Education

Bachelor's degree or higher

Tools

Excel

SQL

Python

Job description

About Nicola Wealth

We have a lot to be proud of at Nicola Wealth. Our sophisticated financial planning, our diversified private investment funds and their exceptional performance, our 98% client retention rate and our award-winning culture, combine to position us as a national leader in wealth management. Recognized as a Best Managed Company and one of Canada’s Top Employers, we are dedicated to upholding our firm’s values through this phase of significant growth.

By bringing together smart, dedicated and supportive colleagues from diverse backgrounds, we deliver extraordinary client service in a values-driven work environment. The collaboration, creativity and entrepreneurial spirit we were founded on provides the opportunity for you to make a real impact and build a rewarding career. We are passionate about our business, our culture and investing deeply in your growth and development to build for the future. If you have this same drive, then let’s talk!

About Nicola Public Fixed Income

As of June 30, 2025, the Nicola Public Fixed Income team manages more than $1.8 billion in various mandates. The team is part of the Nicola Wealth Public Assets Group, which manages over $4.1 billion in assets across both equity and fixed income mandates. Nicola Wealth manages over $17.1 billion of assets across public and private markets on behalf of its clients.

Purpose of the Role

We are seeking a highly motivated individual with a commitment to excellence and experience in managing public fixed income portfolios. The Credit Analyst will primarily focus on Investment Grade and High Yield credit research, portfolio construction, risk management, and quantitative analysis across the broader portfolios. We work in a team-based environment, so the successful candidate will be exposed to all aspects of the investment management process. The Credit Analyst will pair fundamental credit judgment with quantitative investment management techniques and help build and maintain the tools behind them.

Core Responsibilities

• Perform in-depth research on corporate credits in the investment grade and high yield spaces.
• Construct credit portfolios with strong risk/reward characteristics across different mandates.
• Develop expertise in other credit markets and products for potential inclusion in the portfolios.
• Actively monitor existing portfolio positions and make relative value decisions based on a combination of bottom-up and top-down fundamental credit research.
• Demonstrate a good understanding of the risks of fixed income securities and companies.
• Participate in meetings with corporate issuers and industry analysts.
• Conduct research on global economies, financial markets, industries, and individual companies.
• Assist in the preparation and presentation of materials for credit, sector, or topical reviews.
• Assist with the integration of new technologies to streamline the investment management process.
• Contribute to model review and documentation, test quantitative output against fundamental credit judgment, and flag where model assumptions break down.
• Provide analytical support on portfolio construction, factor and risk modelling, back-testing, and scenario and stress testing across mandates.

Experience and Qualifications

• 2+ years’ experience in fixed income portfolio management and/or credit analysis.
• Undergraduate or graduate degree in a related discipline.
• Proven credit due diligence and underwriting skills, including research reports on specific companies and/or industries.
• Experience with credit portfolio construction and risk management.
• Experience creating actionable investment recommendations at both the individual credit and industry levels, and monitoring related performance.
• Experience constructing detailed financial models and industry reports.
• Experience trading money market and fixed income instruments is considered an asset.
• Experience with levered mandates, credit-focused hedge funds, global credit markets, and/or leveraged finance research (HY/LL) is considered an asset.
• Ability to work with large data sets and strong technical proficiency in statistical analysis, including statistical programming languages, is considered an asset.
• Familiarity with quantitative investment management techniques such as factor models, systematic screening and signal construction, portfolio optimization, back-testing, and performance and risk attribution is considered an asset.
• CFA, CA, CPA, MBA, or CBV is considered an asset.
• Willingness to travel within North America.
• Legally eligible to work in Canada for any employer.

Compensation & Benefits Package

This position comes with a competitive base salary hiring range of $80,000 - $115,000. Final compensation will be determined based on experience, skills, and overall fit.

Base salary will be commensurate with experience, skills, and qualifications. In addition, the successful candidate will participate in our performance-based Short-Term Incentive (STI) and Long-Term Incentive (LTI) programs. LTI is awarded in the form of equity, providing a direct ownership opportunity in the firm. This total compensation program aligns pay with performance through competitive incentives with meaningful long-term value creation.

At Nicola Wealth, our people grow our business, delight our clients, and live our values every day. Our comprehensive compensation and benefits package reflects our appreciation for this commitment. Whether it’s participating in our profit sharing and benefit programs on day one, or the opportunity to participate in our share ownership program, our people are able to go beyond a conventional salary and bonus structure. To learn more about our complete package, visit: www.nicolawealth.com/total-rewards.

We are an inclusive, equal opportunity employer.

It is our priority to remove barriers to provide equal access to employment. Should you require reasonable accommodation during the recruitment process please contact us at [e-mail] and we will work with you to meet your needs. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Nicola Wealth policies.

Thank you for your interest in a career with Nicola Wealth!