Research Analyst I

Socket.dev; Boston (MA); On-site; USD 205,000 - 215,000; Full time

Job summary

Fidelity Investments is seeking an equity research professional to perform fundamental analysis on a 25+ stock coverage universe, develop detailed financial models, and formulate actionable investment recommendations.

The role involves meetings with management, industry experts, and collaboration with data scientists to leverage alternative data for insights. Salary ranges from $205,000 to $215,000 per year, with an onsite working model.

Qualifications

• Bachelor’s degree in Business Administration, Quantitative Finance, Financial Economics, or closely related field; 3 years of experience as a Research Analyst or equivalent in financial services.
• Master’s degree in Business Administration, Quantitative Finance, Financial Economics, or closely related field; or foreign education equivalent, with no experience.

Responsibilities

• Perform fundamental equity research on a coverage universe to generate investment ideas.
• Develop company and industry analysis from filings and management meetings.
• Create three-statement financial models and apply valuation methods (DCF, comps, historical valuation).
• Develop investment theses and publish research reports.
• Present buy/sell recommendations to portfolio managers.
• Monitor investments and update theses as needed.

Skills

Three-statement models

Investment theses

Qualitative analysis

Excel

FactSet

Bloomberg

Education

Bachelor's degree

Master's degree

Tools

Excel

FactSet

Bloomberg

Job description

Job Description:

Note: Fidelity will not provide immigration sponsorship for this position.

Position Description:

Performs fundamental equity research and analysis on assigned coverage of 25+ stocks to identify actionable buy and sell stock recommendations. Conducts assessments of companies through comprehensive, company-specific due diligence, including financial statement analysis, meetings with company management teams, interviews with industry experts, and other proprietary research projects. Creates detailed financial projections and develops valuation analyses on stocks to formulate investment recommendations. Presents industry insights and stock recommendations directly to portfolio managers with applicable investment mandates and styles. Monitors existing investments and provides timely updates on any changes in views for the covered stocks and the industry.

Primary Responsibilities

• Performs fundamental equity research on a coverage universe, providing investment ideas for the portfolios and contributing to investment performance.
• Develops analysis on covered companies and their respective industries by examining company filings and meeting with management teams of covered companies and their applicable competitors, suppliers, and customers.
• Generates differentiated research insights by developing a network of industry professionals and conducting channel checks.
• Collaborates with data scientists to utilize alternative data sources and analyzing key performance indicators to identify trends and inflections in business fundamentals.
• Creates company-specific three-statement financial models that quantify research insights and applies the appropriate valuation methodology supported by historical valuation, discounted cash flow (DCF), and comparable company analyses.
• Develops investment theses supported by in-depth research and data and formalizes in written deliverables.
• Presents buy/sell recommendations strategically aligned with the specific investment philosophies of different portfolio managers.
• Monitors existing investments and provides timely updates on changes in investment theses.
• Constructs and monitors a model portfolio as a tool to signal nuanced changes in views on covered stocks to portfolio managers.

Education and Experience

Bachelor’s degree in Business Administration, Quantitative Finance, Financial Economics, or a closely related field (or foreign education equivalent) and three (3) years of experience as a Research Analyst I (or closely related occupation) performing business review and analysis, developing financial statement analysis, and providing actionable investment recommendations in a financial services environment.

Or, alternatively, Master’s degree in Business Administration, Quantitative Finance, Financial Economics, or a closely related field (or foreign education equivalent) and no experience.

Skills and Knowledge

Candidate must also possess:

• Demonstrated Expertise (“DE”) conducting qualitative company and industry review and analysis by identifying key company partners and relevant industry participants; and structuring targeted interviews to form holistic views and nuanced judgments on business models, management quality, competitive moats, and industry structure.
• DE building full three-statement financial models with analysis and key drivers customized to unique business structures, converting insights into quantified forecasts, using Excel, FactSet, and Bloomberg.
• DE deriving the appropriate valuation frameworks for stocks by leveraging technical drivers of stock price movement, assessing market expectations, and performing robust valuation analyses (DCF, historical valuation, and comparable valuation) using Excel, FactSet, and Bloomberg.
• DE performing investment thesis generation and communication, evidenced by publishing research reports, and recommending actionable buy and sell ideas tailored to the specific investment styles of portfolio managers.

[Expertise may be gained during graduate program.]

Salary: $205,000.00 to $215,000.00/year.

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Fidelity’s Onsite Working Model
Fidelity is transitioning to a full-time onsite working model through a phased rollout across regions and roles. Currently, some roles and locations require 100% onsite presence, while others require less. Onsite expectations are likely to evolve as the rollout continues. This transition does not apply to fully remote roles.

Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.