Associate, High Yield Bonds, Americas Leveraged Finance

Job title: Associate, High Yield Bonds, Americas Leveraged Finance

Job description: Company Description

Make an impact at a global and dynamic investment organization

When you invest your career in CPP Investments, you join one of the most respected and fastest growing institutional investors in the world. With current assets under management valued in excess of $450 billion, CPP Investments is a professional investment management organization that globally invests the funds of the Canada Pension Plan (CPP) to help ensure long-term sustainability. The CPP Fund is projected to exceed $1.5 trillion in the next two decades. CPP Investments invests in all major asset classes, including public equity, private equity, real estate, infrastructure and fixed-income instruments, and is headquartered in Toronto with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney.

CPP Investments attracts and selects high-calibre individuals from top-tier institutions around the globe. Join our team and look forward to:

• Diverse and inspiring colleagues and approachable leaders
• Stimulating work in a fast-paced, intellectually challenging environment
• Accelerated exposure and responsibility
• Global career development opportunities
• Being motivated every day by CPP Investments’ important social purpose and unshakable principles
• A deeply rooted culture of Integrity, Partnership and High Performance

If you share a passion for performance, value a collegial and collaborative culture, and approach everything with the highest integrity, here’s an opportunity for you to invest your career at CPP Investments.

Job Description

The Americas Leveraged Finance group invests in corporate debt of non-investment grade sponsored and non-sponsored issuers in North America and Latin America. The group focuses on liquid and illiquid debt across the capital structure in the primary and secondary markets, including first lien loans, second lien loans, unitranche loans, high-yield bonds, convertible bonds, bridges, mezzanine debt and preferred equity.

The Associate position will work as a key member of the group’s growing US High Yield team, working closely with the Senior Principal (US High Yield Portfolio Manager) on the team’s $3bn US high yield portfolio. The Associate will have responsibility for idea generation, trade decisioning, and portfolio management functions – with increasing responsibility over time. Responsibilities include facilitating trade execution, discretionary trade decisioning, engaging in relative-value credit monitoring, primary and secondary market dialogue with US high yield sales and trading desks, and completing other market-facing activities. The Associate will be a key member of the team and will be involved in all aspects of the group’s investment committee process and portfolio management functions. The associate will work closely with members of the US high yield team and other ALF team members on ad-hoc projects. This position is located in Toronto, Canada.

Americas Leveraged Finance currently manages assets in excess of $13 billion, with individual investment size range targets from $100 million to over $1 billion. The Americas Leveraged Finance team has over 25 investment professionals.

Role-Specific Accountabilities

Reporting to the Senior Principal (US High Yield Portfolio Manager) – Americas Leveraged Finance, this associate position is primarily responsible for trade decisioning and portfolio management of the group’s high yield bond and leveraged loan portfolios. The associate will assist the lead portfolio manager and sector leaders in building and implementing a wide range of trading strategies, relative-value frameworks, monitoring tools, and portfolio reporting – with a mindset to generate alpha in group’s tradable leveraged credit holdings. The Associate will gain increasing discretion over the group’s trading and portfolio management functions as experience and ability builds over time. Major areas of responsibilities include:

• Trade ideation and decisioning in the US High Yield Bond Market and Syndicated Loan Market. Responsible for ongoing portfolio monitoring and high yield relative value frameworks and identification of trade opportunities to drive alpha
• Monitoring high yield and leveraged loan market dynamics on a daily basis, interacting with sell-side broker dealer desks to develop market insights and color, and work collaboratively with the high yield portfolio manager and sector analysts to design and implement trade ideas
• Performing fundamental credit research monitoring in collaboration with the high yield sector leads, focused on developing and maintaining relative-value frameworks and developing/communicating the team’s reverse inquiry lists and pricing indications
• Assist in the preparation and implementation of high yield and leveraged loan portfolio and risk monitoring reports and trade reporting
• Collaborate and manage relationships with various counterparties both internally and externally (trading counterparties, capital markets syndicate desks, other counterparties, etc.)

General accountabilities include working as part of the Americas Leveraged Finance group to optimize and implement strategies related to alpha generation, and ad-hoc projects as needed

Qualifications

• A minimum of 2 years relevant work experience, preferably in market-facing role in credit securities on the sell-side or buy-side. Demonstrated interest in a career path of a fixed income trading/execution/portfolio management.
• Some background in conducting research or providing analysis in the implementation and monitoring of credit relative value strategies, or assisting in trading/portfolio management of credit securities
• Good knowledge of fixed income, credit and finance as well as strong analytical skills. Interest in working in the US High Yield markets
• Strong interpersonal skills with demonstrated solid verbal and written communication skills
• Strong proficiency in using Bloomberg, specifically all fixed income and credit functionality
• Solid prioritization and organizational skills
• Demonstrated good judgment, professionalism and integrity
• Ability to prioritize work and manage multiple responsibilities simultaneously in a high performing culture, under pressure and with time-sensitive deadlines
• Undergraduate degree with strong academic credentials. Preferences for candidates who have completed or demonstrated progress toward completing a CFA
• Proven ability to work independently as well as to perform effectively in a team-oriented environment
• Candidates must exemplify CPP Investment Board’s guiding principles of integrity, partnership and high performance

Additional Information

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At CPP Investments, we are committed to diversity and equitable access to employment opportunities based on ability.

We thank all applicants for their interest but will only contact candidates selected to advance in the hiring process.

Our Commitment to Inclusion and Diversity:

In addition to being dedicated to building a workforce that reflects diverse talent, we are committed to fostering an inclusive and accessible experience. If you require an accommodation for any part of the recruitment process (including alternate formats of materials, accessible meeting rooms, etc.), please let us know and we will work with you to meet your needs.

Disclaimer:

CPP Investments does not accept resumes from employment placement agencies, head-hunters or recruitment suppliers that are not in a formal contractual arrangement with us. Our recruitment supplier arrangements are restricted to specific hiring needs and do not include this or other web-site job postings. Any resume or other information received from a supplier not approved by CPP Investments to provide resumes to this posting or web-site will be considered unsolicited and will not be considered. CPP Investments will not pay any referral, placement or other fee for the supply of such unsolicited resumes or information.

Company: Canada Pension Plan Investment Board

Expected salary:

Location: Toronto, ON

Job date: Thu, 20 May 2021 22:50:54 GMT