Credit Research Analyst

Crescent Capital Group LP; Los Angeles (CA); On-site; USD 120,000 - 180,000; Full time

Job summary

Crescent Capital Group LP in Los Angeles is seeking a Credit Research Analyst to join our tradeable credit team. The role focuses on below investment grade high yield bonds and leveraged loans within an entrepreneurial environment.

You will develop investment frameworks, perform fundamental credit analyses of cash flow and asset coverage, build financial models, and defend relative value recommendations to portfolio managers.

Qualifications

• Minimum 5 years of relevant experience at an alternative asset manager in non-investment grade credit research.
• Bachelor's degree; Master’s degree or CFA preferred.
• Strong analytical skills with a high degree of detail orientation.
• Superior written and verbal communication skills.
• Exceptional relationship building and interpersonal skills.

Responsibilities

• Act as the subject matter expert and primary credit analyst responsible for credit investments in a major subsector of the Corporate Index.
• Develop investment frameworks for relevant industries and the analysis of issuers with complex capital structures.
• Provide fundamental credit research analysis of both cash flow and asset coverage, as well as comparative assessment of market value within sectors.
• Identify trends and changes in competitive positions within industries.
• Develop financial models for analysis, including sensitivity analyses to assess pro forma and projected financial performance and downside protection.
• Develop, support, and defend relative value recommendations.
• Ensure completeness of investment analysis and documentation in conformance with firm standards.
• Maintain summary of deal comps and credit statistics to support monitoring, surveillance, and relative risk and value analysis.
• Perform quantitative and qualitative analysis of risk and return for assigned companies and present to portfolio managers.
• Assist in implementing risk management strategies to control drawdowns and continuously evaluate and adjust portfolio positioning to mitigate risks.
• Publish periodic company and industry overviews pertaining to the safety of current investments and future opportunities - providing buy or sell recommendations.
• In depth collateral and structural analysis.
• Daily monitoring of select leveraged loan portfolios.

Skills

Strong analytical skills

Excellent verbal and written

Interpersonal skills

Relationship building

Collaborative/teamwork

Project management

Financial modeling

Education

Bachelor's degree

Master’s degree or CFA

Tools

Bloomberg

MS Excel

PowerPoint

Word

Outlook

Job description

Credit Research Analyst

Crescent is seeking a highly motivated individual to join our tradeable credit team as a Credit Research Analyst. The Capital Markets Research Analyst will work with an established team of investment professionals focusing on below investment grade high yield bonds and leveraged loans in a dynamic and entrepreneurial environment.

Primary Responsibilities:

• Act as the subject matter expert and primary credit analyst responsible for credit investments in a major subsector of the Corporate Index (i.e., Bank & Finance, Telecom, Cable & Satellite, and Technology, etc.).
  
  
  
  • Develop investment frameworks for relevant industries and the analysis of issuers with complex capital structures.
  
  
  
  


• Provide fundamental credit research analysis of both cash flow and asset coverage, as well as comparative assessment of market value within sectors.
  
  
  
  • Identify trends and changes in competitive positions within industries.
  
  
  • Develop financial models for analysis, including sensitivity analyses to assess pro forma and projected financial performance and downside protection.
  
  
  • Develop, support, and defend relative value recommendations.
  
  
  • Ensure completeness of investment analysis and documentation in conformance with firm standards.
  
  
  • Maintain summary of deal comps and credit statistics to support monitoring, surveillance, and relative risk and value analysis.
  
  
  
  


• Perform quantitative and qualitative analysis of risk and return for assigned companies and present to portfolio managers.
  
  
  
  • Assist in implementing risk management strategies to control drawdowns and continuously evaluate and adjust portfolio positioning to mitigate risks.
  
  
  • Publish periodic company and industry overviews pertaining to the safety of current investments and future opportunities - providing buy or sell recommendations.
  
  
  • In depth collateral and structural analysis.
  
  
  • Daily monitoring of select leveraged loan portfolios.
  
  
  
  

Qualifications and Requirements:

The ideal candidate will possess the following:

• Minimum 5 years of relevant experience at an alternative asset manager in a non-investment grade credit research analyst role.


• Bachelor's degree; Master’s degree or CFA preferred.


• Strong analytical skills with a high degree of detail orientation.


• Superior communication skills (both written and verbal).


• Exceptional relationship building and interpersonal skills.

• Ability to work collaboratively with all levels of employees, management, and the executive team.


• Strong organizational and project management skills, with the ability to function effectively and meet deadlines in a fast-paced environment.


• Expertise in Bloomberg, MS Excel, Power Point, Word, and Outlook.