Manager-Credit Research

About the Company

Sutherland is looking for candidates to join its Credit Research team in the High Yield space. As part of the team, the candidate will work with global asset managers and alternative investment firms to maximize the return potential of high yield investments while also collaborating with the larger Credit Research team.

About the Role

The role is a blend of Team Lead and Individual Contributor – the candidate will be responsible for leading a team of analysts on the client engagement as well as maintaining / initiating coverage on a portfolio of issuers.

Responsibilities

Managing Credit Research engagements where the Analyst Team is involved in initiating / monitoring single name corporate credit situations in North America and / or Europe across performing and opportunistic strategy in both leveraged loan and high yield markets.

As part of the engagement, the team performs investment research, including :

Building detailed financial models with KPI driven Revenue projections, Cost drivers, Working capital analysis, Capex schedule, Capital Structure analysis, Covenant analysis, Default & Recovery workouts and IRR sensitivities.

Term Sheet preparation from credit agreements and bond indentures.

Preparing Investment Memos including identification of investment catalysts and provide recommendations on high yield bonds / loans, including fundamental and relative value views for primary and secondary trades.

Presenting the primary / secondary deals to the investment committee and clearly articulating your opinion. Take full ownership of the investment view and continuously monitor key developments affecting the issuer’s credit quality.

Maintain portfolio coverage including regular model updates and earning summary write-ups.

Driving Systemic Quality mindset across teams, implement and maintain best research delivery practices.

Work towards building strong client relationships, contribute to account-farming ideas, and be a driver of engagement growth.

Contribute towards building Credit Research Products and building subject matter expertise in existing and new asset classes under Fixed Income domain.

Proactively support on set-up and design of New Client Engagements.

Qualifications

MBA or equivalent in Finance / CFA / CA.

Minimum of 7-10+ years of buy-side or sell-side experience covering single name corporate credit in the high yield space, across Leveraged Loans and / or Bonds, of which minimum 3 years of experience in delivery management roles.

Excellent corporate credit analysis skills from a fundamental perspective.

Proficiency in building detailed financial models and preparing investment memos besides having excellent analytical skills.

Generalist with good sector exposure in any of TMT, IT, Healthcare, Autos, Manufacturing, Oil & Gas, Chemical sectors.

Proficiency in using Databases & Portfolio Asset Management Systems - Bloomberg, CapIQ, FactSet, Syndication sites, Everest, eFront.

Ability to work under pressure and deliver high-quality research as per TAT agreed.

Prior record of having worked on competitive Pilots will be an added advantage.

Required Skills

Strong written and verbal communication skills, effectively manage client / stakeholder requirements and ensure their timely execution, while consistently delivering high-quality and impactful research. Exceptional attention to detail and be capable of conducting thorough quality checks (QC).

Preferred Skills

Prior experience in delivering end-to-end Credit Research solutions, preferably in the High Yield space, having worked on developing extensive financial models with scenario analysis and preparing Investment Memos.