Municipal Bond Credit Analyst

Position:          Municipal Bond Credit Analyst

Department:    MacKay Municipal Managers

Location:         Los Angeles, CA / Princeton, NJ

Salary Range:     $200,000 - $225,000 

MacKay Municipal Managers is a recognized leading municipal bond investment manager with a commitment to providing excellent returns to our clients.  MacKay Municipal Managers is one of several separate and autonomous investment groups of MacKay Shields. The team has managed municipal bond assets at MacKay Shields since 2009 and has grown the business to manage over $80 billion for both institutional and retail clients. As an active manager, we focus on credit research and security selection in order to add value though our relative value investment strategies.  

Position Description:

MacKay Municipal Managers is currently looking to add a senior municipal bond credit analyst to our investment team.  The ideal candidate will have five to ten years of experience in the municipal bond market with strong analytical skills and a deep understanding of municipal bond credit and valuation.  The role will work closely with our portfolio managers and provide analytical and insightful investment recommendations.  We are looking for an innovative, thought leader who will add to our collaborative team environment.  The candidate will contribute to the investment team performance though the identification and evaluation of prospective investment opportunities and the development of forward looking research to provide value added to our portfolios.

Responsibilities

• Primary duties include the analysis of prospective municipal bond issuers considered for investment in our various complex municipal bond portfolios, including high yield opportunities 
• Perform in depth investment analysis for growing municipal bond portfolio platform, preparing financial models and databases.
• Contribute to the MacKay Municipal Managers team through close interaction with portfolio managers in daily trading activity, as well as with special projects and reports.   Provide timely surveillance in response to secondary market offerings in order to identify relative value opportunities
• Provide market data specialist expertise to our varied investors, preparing special reports and presentations. 
• Provide verbal and written recommendations, through relative value analysis and on-going investment portfolio surveillance.
• Prepare internal credit reports with supporting financial modeling and databases.  

Requirements

• Experienced 7-10 years municipal bond /credit analysis with strong demonstrated knowledge of municipal financings, including high yield sectors, and relevant structuring and pricing.
• Bachelor’s or Master’s Degree, with concentration in finance preferred; CFA preferred
• Strong math with advanced analytical and valuation skills. 
• High proficiency in Excel and financial modeling, Bloomberg and PERFORM.
• Strong knowledge and understanding of the complexities of municipal finance including the legal, political and economic impact on the financial profile of municipal entities 
• Excellent communication and writing skills with strong interpersonal and presentation expertise.
• Organization and detail-oriented skills with ability to multi-task effectively.
• Team player and problem solver exemplifying innovation and creativity.

Why Work at MacKay Shields 

Central to MacKay Shields’ culture is the strong commitment to both our clients and employees. We believe a connection exists between satisfied clients and happy employees. We promote a high degree of autonomy and place accountability across investment teams and offices. We encourage collaboration, innovation, and professional development as anchors to our culture. 

The position can be located in either our Princeton, New Jersey or Los Angeles, California offices.

Why What We Do Works  

Since 1938, MacKay Shields has partnered with clients to help meet their investment goals through high quality products and exceptional service. As active managers, we serve as a trusted advisor to a prominent group of pension funds, government and financial institutions, family offices, high net worth individuals, endowments, and foundations from across the globe. We were acquired by the New York Life Insurance Company in 1984 as the foundation to its multi-boutique investment advisor model. The model—which was designed to combine the benefits of nimble and independent investment boutiques with the strength of a financially strong partner—has been key to MacKay Shields’ success. The firm currently manages assets for institutional investors and other financial service providers across the globe.  

MacKay Shields LLC offers an excellent salary and benefits package.  

At MacKay Shields, we commit to the equitable treatment of all. Differences in background, experience, characteristics, and abilities—whether readily visible or unseen—make each person unique and valuable. Attracting, developing, and retaining diverse talent is critical to our success. We promote a comprehensive approach to diversity and inclusion to serve our employees, our clients, and our community. Striving to make a positive impact and deliver results through performance with purpose is at the heart of our ethos.

MacKay Shields LLC is committed to creating a diverse employment environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status or any other characteristic protected pursuant to federal, state or local law.