Public Finance - Investor Marketing and Credit Analysis - Analyst

J.P. Morgan’s public finance investor marketing team is Wall Street’s premier sell-side desk analyst team. In our role, we (1) make credit trading recommendations to the high yield and high grade traders; (2) develop credit marketing strategies for new issue municipal bond sales; (3) assess credit structures and documentation to determine marketability. Our issuer clients include a wide range of prominent tax-exempt and taxable borrowers, including the nation’s largest hospital systems, transportation entities (airports, toll roads, transit, bridges, etc), utilities (water/sewer and electric), not-for-profit universities, states and municipalities as well as a range of project finance transactions.  Investor clients include domestic and overseas based mutual funds, asset managers, banks, hedge funds and insurance companies. 

As an Analyst in the group, you will quickly be expected to present actionable trade ideas formulated by your independent research and analysis.   This will require mastering the reading and interpretation of complex legal documents and connecting that information to your determination of the financial feasibility of projects and the creditworthiness of the borrower. Additionally, you will perform data analysis, provide credit support for secondary trading and the primary market syndicate desk, assist in the development of marketing strategies, write independent credit reviews and pitch proposals, and help facilitate issuer roadshows.   All aspects of the position are quantitative and require fast-paced critical thinking based on analysis of financial positions and trends, news and events, and relative value.  The group is entirely based in New York City.  The position also requires regular interaction with various types of issuer and investor clients, and the development of these relationships over time. 

Job Responsibilities:

• Read and interpret rating agency publications as well as muni issuer disclosure documents 
• Develop credit research based trade ideas
• Draft credit notes, analyze comparables and update desk on engagement for primary market bond sales
• Perform ad hoc research assignments relevant to sector credit themes
• Develop technology tools to streamline analysis and automate ongoing desk tasks
• Maintain an interest in municipal bond investing and municipal issuers 

Required qualifications, capabilities, and skills:

• Strong knowledge or interest in public finance and the municipal bond market (see above for sample clients)
• Up to 3 years’ experience in financial markets (rating agency, investment bank, asset manager, municipal financial advisor or issuer)
• Analytical Skills: Financial statement analysis (accounting) and quantitative skills.  Able to build, interpret, and manipulate credit models.  Able to synthesize data to identify trends and conclusions.  Read and interpret complex legal documents.  
• Communication Skills: Strong verbal and written skills. Professional and comfortable in client-facing situations.
• Interpersonal Skills:  Ability to multi-task.  Must exhibit flexibility, assertiveness, a positive attitude, and be a strong team player.
• Ability to process new information quickly and effectively, and work in a high volume fast paced trading floor environment
• Must be able to start immediately

Preferred qualifications, capabilities, and skills:

• Strong Excel and Bloomberg skills preferred