Dynamic Municipal Fixed Income Research Analyst

Vanguard; Scottsdale (AZ); Hybrid; USD 78,000 - 110,000; Full time

Benefits offered by this job

Hybrid work model

Investment research exposure

Job summary

Vanguard seeks an Active Municipal Investment Analyst to join its Municipal Fixed Income Research team, developing municipal credit research and investment expertise through a collaborative apprenticeship with experienced investors at the largest institutional municipal fixed income investment manager.

The role supports senior analysts, conducts fundamental credit research, evaluates opportunities, and translates issuer-level analysis into clear credit opinions, relative value assessments, and

Qualifications

• Undergraduate degree or equivalent education and professional experience.
• Experience in financial services, public finance or investment research demonstrating transferable skills.
• Strong written and verbal communication with the ability to present analytical findings clearly.
• Ability to work collaboratively with senior analysts, portfolio managers, traders, and other investment professionals.

Responsibilities

• Conduct fundamental credit research on municipal issuers across sectors and regions.
• Support senior analysts in evaluating credits and developing investment perspectives.
• Develop internal credit ratings, outlooks, theses, relative value assessments, and investment strategy recommendations.
• Translate research findings into timely, actionable insights for senior analysts, PMs, traders, and investment stakeholders.
• Present credit opinions and investment views in team discussions and portfolio reviews.
• Analyze audited financial statements, budgets, operating performance, debt profiles, and long-term liabilities.
• Build and maintain financial models, bond schedules, scenario analyses, and stress tests.
• Respond to research inquiries and support portfolio and investment decisions.
• Monitor macro developments affecting issuers or municipal sectors.
• Contribute to special projects to enhance research capabilities and data quality.

Skills

Strong written and verbal comms

Collaborative team player

Attention to detail

Education

Undergraduate degree or equivalent

CFA path or designation progress

Tools

Python

R

Job description

Vanguard seeks an Active Municipal Investment Analyst to join its Municipal Fixed Income Research team, developing municipal credit research and investment expertise through a collaborative apprenticeship with experienced investors at the largest institutional municipal fixed income investment manager.

The role supports senior analysts, conducts fundamental credit research, evaluates opportunities, and translates issuer-level analysis into clear credit opinions, relative value assessments, and