Credit Research Analyst, REITs and Lodging
We are PIMCO, a leading global asset management firm. We manage investments and develop solutions across the full spectrum of asset classes, strategies and vehicles: fixed income, equities, commodities, asset allocation, ETFs, hedge funds and private equity. PIMCO is one of the largest investment managers, actively managing more than $2.22 trillion in assets for clients around the world. PIMCO has over 3,000 employees in 20 offices globally. PIMCO is recognized as an innovator, industry thought leader and trusted advisor to our clients.
PIMCO is one of the world's premier fixed income investment managers with thousands of professionals around the world united in a single purpose: creating opportunities for our clients in every environment. Since 1971, we have brought innovation and expertise to our partnership with the institutions, financial advisors and millions of individual investors who entrust us with their assets. We aspire to cultivate performance and leadership through empowering our people, diversity of thought, and a commitment to an inclusive culture that engages in our global communities. Position Description:
We are seeking a Credit Research Analyst to work in our Newport Beach, CA office. This analyst would join the REIT and Lodging sector team, covering credits across the capital structure and ratings spectrum (Investment Grade, High Yield, and Bank Loans). Credit Research Analysts are responsible for conducting all relevant fundamental company analysis, clearly communicating investment merits and risks (both in written and oral format), as well as making thoughtful investment recommendations to PIMCO portfolio managers regarding specific securities. MAJOR RESPONSIBILITIES
Position Requirements: General:
- Provide fundamental and relative value research on existing holdings and generate credit driven investment ideas specific to the sector.
- Proactively communicate investment ideas by initiating discussions with portfolio managers and participating in group meetings.
- Produce written reports such as company evaluations and quarterly updates, relative value analyses, and industry reviews.
- Respond to portfolio manager inquiries regarding credit concerns, market overviews, and sector changes.
- Interaction with clients or client service professionals.
- Must have over 2 years of relevant work experience in a fundamental credit or equity research-related role, either on the buy side or sell side.
- Prior experience in investment grade or high yield preferred.
- Strong financial modeling experience REQUIRED.
- Strong accounting experience REQUIRED.
- Demonstrated ability to make judgements regarding credit, risk, and valuation.
- Ability to cover credits with minimal direction and to make preliminary investment decisions in a short time frame with incomplete information.
- Proactive self-starter that can produce actionable (buy and sell) investment recommendations that generate alpha, without relying on external direction.
- Good communicator with excellent written and oral presentation skills; needs to be persuasive and credible.
- Team-oriented and collaborative, with high integrity and professionalism.
- Focused on fundamental security analysis as a long-term career.
EDUCATION AND DESIGNATIONS:
- Prior exposure to and understanding of REITs (structure, property types, quarterly supplemental, NAV analysis, etc.) is a plus, but not required. Enthusiasm to cover the sector is required.
- Ability to work independently on coverage and idea generation across a wide swath of REIT and Lodging-related universe
- Openness to work with the broader team on earnings, sector updates, investment committee presentations, and other ad-hoc projects, as needed.
- Bachelor's Degree from a top university or college, with strong academic achievement, required; concentration in Finance, Economics, Accounting, or Real Estate preferred.
- Completed MBA degree preferred, but not required.
- CFA designation (or progress towards) is a strong plus.
PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and well-being of you and your family. Benefits vary by location but may include:
- Medical, dental, and vision coverage
- Life insurance and travel coverage
- 401(k) (defined contribution) retirement savings, retirement plan, pension contribution from your first day of employment
- Work/life programs such as flexible work arrangements, parental leave and support, employee assistance plan, commuter benefits, health club discounts, and educational/CFA certification reimbursement programs
- Community involvement opportunities with The PIMCO Foundation in each PIMCO office