Research Associate, High Yield

About the Role

POSITION

We are seeking to attract an investor to join our Leveraged Credit Research team in Boston. Wellington (WMC) currently manages $524 billion in fixed income assets on behalf of our clients worldwide. The Leveraged Credit team manages approximately $37 billion in assets across its book of business, spanning high yield bonds (Global and US), bank loans (including CLO collateral management), and convertibles.

The Leveraged Credit team is highly collaborative and follows a fundamental approach to investing. Research Associates and Credit Analysts work alongside portfolio managers to invest on a variety of horizons. This individual will focus primarily on North American and/or global credits and will be responsible for following several industries in the high yield market, and for providing fundamental credit research on the bond and loan issuers within them. As an active member of the Leveraged Credit Research team, the Research Associate will be fully integrated into the investment process and expected to provide detailed analysis of companies, recommend alpha generating investment ideas and closely monitor existing portfolio holdings across sectors and countries. Experience with the industrials and chemicals sectors will be additive and the coverage assignment for the successful candidate will be determined as part of the interview process.

Responsibilities

• Work with high yield and bank loan analysts to analyze bonds across a variety of sectors within Industrials and Chemicals.
• Develop unique research insights, in order to arrive at well supported investment conclusions;
• Independently conduct proprietary credit research based on data gathered from company filings, attend company management meetings, and utilize additional independent research sources to build investment conviction;
• Build multi-year financial models, to determine appropriate valuations under various scenarios;
• Help generate successful investment ideas, and provide monitoring of positions across client strategies;
• Work closely with colleagues as part of a highly collaborative platform, sharing ideas and offering feedback.

Essential Skills

• Investment acumen and passion – the Leveraged Credit Researcher will demonstrate a curiosity and passion for financial markets, combined with an evolving process for fundamental company research, and an ability to communicate their findings.
• Strong collaboration and influencing skills – the successful candidate will be energized by being an individual contributor within a collaborative team and environment.
• Team building and integrity – the Leveraged Credit Researcher will have demonstrable experience of effective teamwork, coupled with a strong work ethic and a high level of personal integrity.
• Growth mindset – the flexibility and openness to continue learning, evolving and growing as an investor is required.

Qualifications

• 3-5 years of relevant high yield or bank loan credit research experience, gained either on the Buy or Sell side with an asset manager, hedge fund, investment bank or private credit firm, with a commensurate level of understanding of company financial statements;
• Prior experience working in a high yield or bank loan research team;
• Expertise or interest in the Industrials and/or Chemicals sectors;
• Self-awareness, and the humility to admit and learn from ‘being wrong’;
• The highest level of integrity, ethical standards, and intellectual honesty;
• Strong work ethic, curious mindset, and strong attention to detail;
• Strong interpersonal skills, and experience of working in a collaborative, results-oriented environment;
• Strong academic credentials. Progress towards the CFA/CAIA Charter would be viewed favorably, but is not required.

Location

This Leveraged Credit Research position will be based in Wellington’s Global Headquarters in Boston, MA.

Benefits

We offer a comprehensive and high value benefit package to meet the unique needs of our employees and their families, and we are committed to fostering a flexible work environment that enables employees to thrive personally and professionally. Examples of our benefits include retirement plan, health and wellbeing, dental, vision, and pharmacy coverage, health savings account, flexible spending accounts and commuter program, employee assistance program, life and disability insurance, adoption assistance, back-up childcare, tuition/CFA reimbursement and paid time off (leave of absence, paid holidays, volunteer, sick and vacation time).