Municipal Credit Analyst

Date posted:

Department:

Investment/Insurance

Location:

Long Island City (HQ) - Queens, NY

Description:

Performs investment credit analysis for UNFCU’s fixed income credit exposures across the municipal and banking sectors. Also responsible for tracking and monitoring existing holdings and evaluating potential investments in order to ensure the soundness and profitability of the overall investment function. In addition, serves as an advisor to the Portfolio Management team in the area of credit risk management.

Accountabilities:

• Evaluate the creditworthiness of existing municipal credit exposures (general obligation and revenue bond issuers) through review and analysis of municipal financials (CAFRs), revenue authority financials, and local economic and demographic data.
• Evaluate the creditworthiness of existing banking credit exposures through review and analysis of public financial statements, ratio analysis, and market research.
• Prepare thoroughly written municipal credit reviews on an annual basis incorporating fundamental credit risk analysis relevant to the muni issuer (including financials and socioeconomic metrics) backed by a formulated independent recommendation and outlook.
• Construct thoroughly written banking credit reviews on a quarterly basis incorporating credit metrics relevant to the banking sector – including financials, asset quality, liquidity, capitalization, profitability, market developments and news regarding particular credit and/or industry.
• Assist in preparing pre-purchase memos for potential fixed income investments in order to determine whether the prospective issuer (municipal or regional bank) is a viable investment and should be recommended to the Chief Investment Officer as a buying opportunity.
• Help identify potential buying opportunities across the muni sector by compiling and maintaining pre-approved lists of investments/comparables across various industries (Public Power, Airports, Ports, Toll Roads, Water & Sewer, and GO) based on applying comprehensive credit analysis across each credit in accordance with each appropriate sector.
• Prepare peer analyses to determine strengths and weaknesses of industries and credits.
• Review external research from sell-side and rating agency analysts, and interact with analysts when required.
• Provide departmental managers with written credit assessments of critical vendors (as well as service providers and other UNFCU business partners) based on financial performance – both on an annual and as-needed basis.
• Assist NCUA examiners and internal or external auditors during their examinations and audits.
• Participate in management discussions on credit risk and external economic, legislative, and regulatory factors.
• Provide documentation retention support for department trade authorizations.
• Perform various special research projects for departmental managers as requested.

Qualifications:

TYPE & AMOUNT OF EXPERIENCE:
• Bachelor’s degree and/or advanced degree in finance, accounting, economics or business administration and minimum of 3-5 years of experience with producing written credit analysis and research in the municipal sectors
• Experience within the banking and/or corporate credit sectors preferred
• CFA charter preferred (support will be provided for progress towards earning the charter)
• Experience in reviewing, interpreting, and summarizing issuer financial reports and disclosures, and conduction financial ratio analysis
• Demonstrated knowledge of municipal government fund accounting and working understanding of investor protections
• Proven ability to conduct assignments independently and to succinctly write financial summaries, as well as possessing a drive to expand one’s understanding of US fixed income markets, particularly the credit side

TECHNICAL COMPETENCIES:
• Advanced MS Office skills, particularly MS Excel
• Proficient knowledge of Bloomberg

BEHAVIORAL COMPETENCIES:
• Excellent oral and written communication skills and ability to summarize complex issues and relationships
• Ability to prioritize and manage many concurrent projects while flexibly adapting to new assignments as needed
• Ability to work independently along with a self-directed creative approach and commitment to all assignments

WORK ENVIRONMENT/CONDITIONS:
• Standard office conditions


In addition to any specific job requirements in connection with Bank Secrecy Act and/or OFAC (BSA), employee must (i) be aware of BSA matters commensurate with the position; (ii) report any suspicious activity to the manager or compliance department; and (iii) satisfactorily complete any required BSA training.