Job Description

J.P. Morgan Asset & Wealth Management, with client assets of $2.4 trillion, is a global leader in investment and wealth management. Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds. For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits.
Primary Role:
 
The Municipal Research Analyst will provide credit opinions and relative value assessments on lower rated and high yield municipal bonds. Credit analysis will generally be focused on non-investment grade bonds and sectors through fundamental credit analysis as well as legal and structure analysis.
Specific responsibilities will include:
· Determining, monitoring, and communicating credit quality of issuers, in assigned sectors,
· Evaluating legal structure of bonds as part of relative value analysis and negotiating covenants
when appropriate,
· Identifying buy and sale opportunities within sector and enhancing capabilities for identifying
relative value,
· Ability to evaluate distressed debt and participate in work out situations,
· Identifying and communicating sector trends that impact credit quality,
· Preparing comprehensive written analyses on individual credits, sectors or events in a buy-side
environment,
· Monitoring and maintaining a list of upcoming transactions and communicate with sell side sales
coverage with regard to transaction documents, investor calls, and potential site visits,
· Working within a team of analysts to define credit strategy and the format and quality of credit
analysis and interacting with team members where credits and/or sectors overlap,
· Interacting with the rating agencies, other analysts to obtain external views on individual credits
and sectors,
· Responding to and maintaining good communications with portfolio managers and other internal
customers.
· Supporting portfolio managers and other internal customers in client communications and
presentations by participating and providing materials for such presentations,
· Providing credit research to support any new business initiatives,
· Fulfilling administrative requirements of keeping databases up to date, to include ratings,
comments, obligor codes, and coverage levels,
· Undertaking special projects to further efficiencies, risk controls, and governance for the line of business.


Qualifications

Experience/Skills
 
· Municipal credit analyst with demonstrated experience in non-investment grade and distressed
municipal credit (experience in workouts is a plus),
· Minimum 7 to 10 years buy side municipal credit research experience,
· MBA or CFA preferred,
· Ability to evaluate and negotiate complex documentation and structures,
· Demonstrated track record of providing successful investment recommendations,
· Strong understanding of relative value analysis and factors influencing credit spread
performance,
· Ability to work within a team,
· Excellent decision making and problem solving skills,
· Strong written and oral communication and interpersonal skills; the ability to communicate
concisely orally and in writing,
· Willingness for domestic travel

Application Instructions

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