Alternative Credit Analyst

Brown Brothers Harriman & Co.; New York (NY); On-site; USD 85,000 - 100,000; Full time

Job summary

BBH is seeking a junior Alt Credit Analyst to evaluate structured fixed income securities, focusing on CLOs and related assets. You will support investment decisions, work with traders and analysts, and help assess issuers across sectors.

Role offers exposure to ABS, CLOs, CMBS and BDC investments, with collaboration across teams and a focus on credit risk analysis and market research.

Qualifications

• BA/BS degree required with superior academic achievement.
• Knowledge of BBH products, services, practices and investment philosophy.
• Knowledge of fixed income industries including current trends.
• Proven ability to analyze complex issues and make sound decisions.
• Intellectual courage and a systematic thought process.
• Strong relationship management and people skills.
• Excellent negotiating and influencing skills.
• Excellent quantitative and qualitative skills.
• Excellent conceptual and critical thinking skills.
• Strong oral and written communication skills.
• Experience with Microsoft Office Products, particularly Excel, required

Responsibilities

• Credit Analysis and Research
• Financial modeling and investment analysis of structured fixed income securities.
• Recommend investment actions for structured fixed income securities, based on credit risk, and quantitative research and analysis.
• Work with fixed income traders and other analysts to identify, evaluate and locate potentially mispriced corporate bonds.
• Research and document credit recommendations in designated industry sectors.
• Provide the trading desk with pricing guidance for new purchases.
• Analyze the overall financial strength and risk of individual issuers.
• Analyze market and pricing trends, plus yield and duration considerations between different fixed income sectors.
• Monitor credit of securities, in the designated industry sectors, and take action as appropriate.
• Discuss individual investments and our investment process appropriately and compellingly with clients.
• Maintain fluency in applicable regulations, as well as internal policies and procedures.
• Encourage and demonstrate strong team behaviors - help your colleagues make better investment decisions.

Skills

Credit Analysis

Financial Modeling

Quantitative Research

Communication Skills

Teamwork

Education

BA/BS degree

Tools

Excel

Job description

At BBH, Partnership is our approach to business and relationships. We know that supporting your professional and personal goals is the best way to help our clients and advance our business. We take that responsibility seriously. With a 200-year BBH legacy and a shared passion for what’s next, this is the right place to build a fulfilling career.

Position Overview

BBH’s Credit Alternatives investment unit focuses on alternative opportunities in swiftly growing segments of the credit markets, including asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), collateralized loan obligations (CLOs) and business development companies (BDCs). Its experienced investment team is a lead investor in all of these segments. The Credit Alternatives investment team manages over $12b AUM, which are a key constituent of BBH’s structured fixed income strategy (on behalf of dozens of SMA clients and multiple commingled funds) as well as BBH’s taxable fixed income strategies. In addition to debt investments, the team is also an active investor in difficult to source, higher return equity and residual investments that are in high demand from alternatives investors. The team is entrepreneurial in its search for value, leverages its deep relationships with hundreds of issuers and underwriters, and commits to the highest level of integrity in its analysis and investment process. The Alt Credit Analyst is a junior analyst investment position responsible for evaluating structured fixed income securities, making investment recommendations and helping evaluate other proposed investments in a team context. With a particular focus on Business Development Companies (BDC's) plus Collateralized Loan Obligations (“CLOs”), this person will also gain exposure to Asset-Backed Securities ("ABS"). This position analyzes the durability, management and financial structure of individual structured fixed income issuers, as well as sector dynamics, and valuation discrepancies between securities, sectors and grades. The Alt Credit Analyst works collaboratively with other analysts, traders and portfolio managers to support the investment of our structured fixed income portfolios. This position is expected to focus on CLOs across credit grades from Investment Grade through Sub-Investment Grade tranches, but will also interact with Consumer and Commercial Asset Backed Securities (“ABS”). No prior experience is necessary; this is a full-time position open to college graduates or individuals looking to deepen their career in credit alternatives.

Responsibilities

• Credit Analysis and Research
• Financial modeling and investment analysis of structured fixed income securities.
• Recommend investment actions for structured fixed income securities, based on credit risk, and quantitative research and analysis.
• Work with fixed income traders and other analysts to identify, evaluate and locate potentially mispriced corporate bonds.
• Research and document credit recommendations in designated industry sectors.
• Provide the trading desk with pricing guidance for new purchases.
• Analyze the overall financial strength and risk of individual issuers.
• Analyze market and pricing trends, plus yield and duration considerations between different fixed income sectors.
• Monitor credit of securities, in the designated industry sectors, and take action as appropriate.
• Discuss individual investments and our investment process appropriately and compellingly with clients.
• Management
• Present and discuss covered sectors and individual recommendations.
• Communicate investment performance to analysts and client relationship teams.
• Maintain fluency in applicable regulations, as well as internal policies and procedures.
• Encourage and demonstrate strong team behaviors - help your colleagues make better investment decisions.

Qualifications

• Up to 4 years of relevant experience is helpful but not required
• BA/BS required with superior academic achievement
• Knowledge of BBH products, services, practices and investment philosophy
• Knowledge of one or more fixed income industries including current trends
• Proven ability to analyze complex issues and make sound decisions
• Intellectual courage and a systematic thought process
• Strong relationship management and people skills
• Excellent negotiating and influencing skills
• Excellent quantitative and qualitative skills
• Excellent conceptual and critical thinking skills
• Strong oral and written communication skills
• Experience with Microsoft Office Products, particularly Excel, required

Salary

Salary Range NY: $85,000 - $100,000 base salary + annual bonus target

Benefits

BBH's total rewards package recognizes your contributions with more than just a paycheck—providing you with benefits that enhance your experience at BBH from long-term savings, healthcare, and income protection to professional development opportunities and time off, our programs support your overall well-being.

Equal Opportunity Employer

We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, age, genetic information, creed, marital status, sexual orientation, gender identity, disability status, protected veteran status, or any other protected status under federal, state or local law.

We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, age, genetic information, creed, marital status, sexual orientation, gender identity, disability status, protected veteran status, or any other protected status under federal, state or local law.

About BBH

Brown Brothers Harriman Credit Partners, LLC is an affiliate of Brown Brothers Harriman & Co. (together ‘BBH’). BBH is a premier global financial services firm, known for premium service, specialist expertise, technology solutions and partnership approach to client management. BBH works with an enviable roster of sophisticated clients who make BBH their first call when they are tackling their hardest challenges. Delivering for our clients and each other energizes us. We believe that how we do our work is just as important as what we do. We are relentless problem solvers who know our best ideas come from collective debate and development—so we are never possessive about our ideas. Every day we come together as a diverse community of smart and caring people to deliver exceptional service and expert advice—creating success that lasts. No matter where you sit in the organization, everyone is empowered to contribute their ideas. BBHers can pick up the phone and call any colleague, and they are happy to help. Expanding your impact beyond your daily role is part of how we operate as trusted partners to one another. We believe stability is a competitive advantage, but being stable means having the knowledge, skill, and discipline to evolve, often—pushing the boundaries of innovation. We look to invest in the relationships, technologies, products, and development we believe are in the long-term interests of our clients and our people. Our long-tenured leaders are experts in their areas and are actively involved in the day-to-day business, taking the time to provide guidance and mentoring to build the next generation of BBHers. Because we know, our success begins with yours. Go to BBH.com to learn more about our rewards and benefits, philanthropy, approach to sustainability or how we support you to thrive personally, physically and financially. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, age, genetic information, creed, marital status, sexual orientation, gender identity, disability status, protected veteran status, or any other protected status under federal, state or local law. Brown Brothers Harriman (BBH) is a global financial services firm known for premium service and specialist expertise. BBH works with leading asset managers, financial institutions, private businesses and their owners, wealthy families, and sophisticated institutional investors. As a private partnership, we are uniquely built to put clients first and create success that lasts. We believe our success starts with yours. At BBH, partnership is more than just a form of ownership—it’s our approach to business and relationships. Every day we come together as a diverse community of smart and caring people to deliver exceptional service and expert advice. Across Investor Services and Capital Partners, we work with an enviable roster of sophisticated clients who make BBH their first call when they are tackling their hardest challenges. No matter where you sit in the organization, everyone is empowered to contribute their ideas and perspective. BBHers can pick up the phone and call any colleague, and they are happy to help – which is why expanding your impact beyond your daily role is part of how we operate as trusted partners to one another. Delivering for our clients and each other energizes us. We believe stability is a competitive advantage, but being stable means having the knowledge, skill, and discipline to evolve, often—pushing the boundaries of innovation. Every investment we make is in the relationships, technologies, products and development we believe are in the long-term interests of our clients and our people. Our long-tenured leaders are experts in their areas and are actively involved in the day-to-day business, taking the time to provide guidance and mentoring to build the next generation of BBHers. With a 200-year legacy and a shared passion for what’s next, this is the right place to build a fulfilling career.