High Yield Municipal Analyst

Thornburg Investment Management; Santa Fe (NM); On-site; USD 80,000 - 150,000; Full time

Benefits offered by this job

Medical, dental, and vision coverage

401(k) safe harbor and profit-sharing contributions

Flexible work arrangements

Paid parental leave

Employee assistance plan

Commuter benefits

Student loan repayment program

Education reimbursement program

Onsite cafeteria

Onsite fitness center

Job summary

An established industry player is on the lookout for a seasoned Municipal Debt Investor to enhance their investment team. This exciting role involves investing in high yield municipal bond portfolios and requires a deep understanding of municipal credit markets. The ideal candidate will possess strong analytical and communication skills, enabling them to drive portfolio performance and effectively present investment strategies. Join a forward-thinking firm that values independent thought and offers a collaborative environment where your contributions can significantly impact investment outcomes. If you have a passion for finance and a desire to excel in a dynamic setting, this opportunity is perfect for you.

Qualifications

• 8+ years of experience in municipal credit markets, focusing on high yield and unrated bonds.
• Strong analytical and communication skills to drive portfolio performance.

Responsibilities

• Manage municipal bond funds, focusing on high yield municipal debt opportunities.
• Conduct credit analysis and maintain credit files for current holdings.

Skills

Municipal credit markets expertise

Analytical skills

Communication skills

Credit analysis

Portfolio management

Education

Bachelor's degree

Master's degree or CFA designation

Tools

Bloomberg

Investortools (Perform)

Job description

Description

Thornburg is a global investment firm delivering on strategy for institutions, financial professionals and investors worldwide. The privately held firm, founded in 1982, is an active, high-conviction manager of fixed income, equities, and multi-asset solutions.

As an independent firm, Thornburg can take on a wide range of opportunities, explore ideas thoroughly and work across strategies to deliver consistent risk-adjusted outperformance over the long term. The firm attracts free-thinking professionals who are eager to pursue investment outcomes beyond the confines of popular wisdom. From nimble operational capabilities to principles and actions fitting of a global citizen, Thornburg’s world-class investment platform and team are aligned on strategy to serve investors.

Primary Job Function:

We are seeking an experienced Municipal Debt Investor to join our team. This role focuses on investing in and managing high yield municipal bond portfolios across multiple sectors. The ideal candidate will have deep expertise in municipal credit markets, particularly in high yield and unrated bonds, along with strong analytical and communication skills to drive portfolio performance and support investment strategies.

Duties & Responsibilities:

1. Assist with the investment and management of municipal bond funds and separate accounts, with a focus on identifying opportunities in high yield municipal debt.
2. Conduct in-depth credit analysis, maintain, and update credit files for current holdings, and access new investment opportunities across various sectors.
3. Assist in the preparation of periodic research commentaries and presentations to communicate market insights and portfolio updates to internal and external stakeholders.
4. Support the structuring and execution of municipal bond portfolio strategies to align with client goals and market opportunities.
5. Assist in maintaining a database of bond positions/cash flows/portfolio needs.
6. Work closely with portfolio managers, traders, and other team members to ensure cohesive decision-making and alignment with client objectives.

Requirements:

1. Bachelor’s degree required; advanced degree (e.g., Master’s) or CFA designation preferred.
2. Minimum 8 years of experience in municipal credit markets, including high yield and unrated bonds.
3. Series 7 & 63 required; will need to obtain within 12 months if not currently licensed.
4. Relevant experience in municipal bond trading is highly desirable.
5. Experience in other credit-related financial roles will also be considered.
6. Proficient knowledge of Bloomberg and Investortools products (Perform).
7. Excellent verbal and written communication skills, with the ability to present research findings and investment strategies effectively.
8. Strong analytical abilities across a variety of sectors; ability to provide samples of prior work.
9. Capability to manage multiple tasks in a fast-paced, dynamic environment.
10. Strong analytical skills.
11. Ability to travel occasionally.

Job Benefits:

• Medical, dental, and vision coverage.
• Employer 401(k) safe harbor and profit-sharing contributions.
• Work/life programs such as flexible work arrangements, flexible paid time off, paid parental leave, employee assistance plan, commuter benefits, student loan repayment program, education reimbursement program.
• Community involvement opportunities.
• Onsite cafeteria.
• Onsite fitness center.
• Referral program.

All qualified applicants will receive consideration for employment without regard to age, race, color, religion, sex, national origin, disability, gender, gender identity or protected veteran status. We especially encourage applications from individuals who can bring diverse cultural and ethnic perspectives and experiences to the campus.