Company OverviewObra Institutional Credit (OIC), a subsidiary of Obra Capital Inc. is a leading independent asset management and investment research firm specializing in high-yield bonds and leveraged loans with a strong focus on rigorous, bottom-up credit analysis. OIC's clients include industry-leading wealth managers, large public pension funds, and other leveraged finance investors.
Position OverviewOIC is seeking a Director, Credit Research to join our team located in Montpelier. This position will be responsible for doing research into high yield corporate debt with a particular focus on financial services and technology clients. Day-to-day will include researching and analyzing high yield credit investments, providing credit ratings and recommendations, and monitoring and reporting on credit markets for our institutional and private clients.
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.
Qualifications- 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.
- Experience within the financial and technology sectors preferred
- 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.
- Professional certifications such as CFA, CPA, or similar qualifications will be a plus.
