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Obra Capital · 1 day ago

Director, Credit Research

Montpelier, VT

Full-time

Onsite

Mid, Senior Level

$110K/yr - $140K/yr

5+ years exp

Obra Capital is a leading independent asset management and investment research firm specializing in high-yield bonds and leveraged loans. The Director, Credit Research will be responsible for researching and analyzing high yield credit investments, providing credit ratings and recommendations, and monitoring and reporting on credit markets for institutional and private clients.

Asset ManagementCreditFinancial ServicesInsurance

Responsibilities

Oversee all aspects of fundamental investment research and diligence of performing credits, with a primary focus on financial services and technology companies, including industry and company analysis, financial modelling, and contract analysis

Analyze various credits by utilizing cash flow models to value debt investments

Collaborate and communicate information with members of the team across multiple offices (PMs, research, trading)

Maintain strong ties with sell-side, buy-side, advisors lawyers and other industry professionals

Evaluate the creditworthiness of corporate issuers by assessing financial statements, income statements, balance sheets, cash flow statements, and key financial ratios. Identify risks and opportunities related to credit quality

Perform thorough company due diligence, including analyzing business models, competitive positioning, and growth prospects. Understand company strategies and management teams to assess their impact on credit risk

Monitor market conditions and industry dynamics to identify emerging trends, potential risks, and investment opportunities. Provide insights into market trends that may impact high yield credit performance

Develop comprehensive credit risk assessments and assign appropriate credit ratings to issuers. Present findings and recommendations to portfolio managers and investment committees

Create and maintain financial models to forecast cash flows, assess debt repayment capacity, and project credit performance under various scenarios

Participate in due diligence meetings and discussions with company management, industry experts, and other stakeholders to gather relevant information

Prepare detailed and concise reports on credit analysis, including risk assessments, investment rationales, and credit outlooks

Qualification

Credit analysisFinancial modelingFinancial statement analysisCredit risk assessmentValuation expertiseFinancial services experienceTechnology sector experienceAnalytical skillsIndustry databases familiarityProfessional certificationsCommunication skillsTeam collaboration

Required

A bachelor's or master's degree in finance, economics, or a related field

5+ years of relevant work experience in credit analysis, preferably at a top tier investment bank, private equity firm, and/or a comparable role at another firm investing in broadly syndicated leveraged loans and high yield bonds

Proficiency in financial modeling, financial statement analysis, credit risk assessment and valuation expertise

Ability to dive deep and create detailed research with an appreciation for broader sector trends

Excellent analytical skills and attention to detail

Strong written and verbal communication skills, including the ability to present complex ideas clearly and concisely

Familiarity with industry databases, financial data sources, and market research tools

Ability to work collaboratively in a fast-paced, team-oriented environment