Supports Senior Analysts by performing more complex research for assigned sectors, companies or issuers. Performs a variety of activities that support the credit research process in Active Municipal High Grade fixed income.
This Hybrid (in-office Tues-Wed-Thurs) Position is based in Scottsdale, AZ
Core Responsibilities:
- Conduct credit analysis across structured finance sectors using external and internally developed tools; support other structure intensive sectors (tobacco settlement and other securitizations, project finance, distressed and restructuring scenarios, etc.).
- Identify, understand, and model new or existing but mispriced tax-exempt instruments and develop strategies to accurately value them, and present investment recommendations to credit and trading teams.
- Identify and understand market inefficiencies to better model expected portfolio outcomes and develop strategies to benefit from inefficiencies; originate and execute on novel analytical approaches to municipal relative value.
- Actively pursue new market opportunities, limited offerings, and private placements, by leveraging external relationships; this may include taxable as well as tax-exempt investments.
- Use data and advanced learning techniques to reinforce how we allocate layered credit trades, model risks, and identify opportunities.
- Support and consolidate bespoke and fragmented credit modeling capabilities into a more production friendly experience.
- Support continued technology adoption in low-touch areas to reallocate resources into higher-impact areas.
- Participates in special projects and performs other duties as assigned.
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Qualifications
- Three years related analytical work experience
- Undergraduate or higher degree in a STEM field or Quantitative Finance preferred
- Experience with Python (QuantLib), SQL, and complex datasets
- Interest in pursuing -- or progress towards -- CFA designation
Special Factors
Sponsorship
Vanguard is not offering visa sponsorship for this position.
About Vanguard
We are Vanguard. Together, we're changing the way the world invests.
For us, investing doesn't just end in value. It starts with values. Because when you invest with courage, when you invest with clarity, and when you invest with care, you can get so much more in return. We invest with purpose - and that's how we've become a global market leader. Here, we grow by doing the right thing for the people we serve. And so can you.
We want to make success accessible to everyone. This is our opportunity. Let's make it count.
Inclusion Statement
Vanguard's continued commitment to diversity and inclusion is firmly rooted in our culture. Every decision we make to best serve our clients, crew (internally employees are referred to as crew), and communities is guided by one simple statement: "Do the right thing."
We believe that a critical aspect of doing the right thing requires building diverse, inclusive, and highly effective teams of individuals who are as unique as the clients they serve. We empower our crew to contribute their distinct strengths to achieving Vanguard's core purpose through our values.
When all crew members feel valued and included, our ability to collaborate and innovate is amplified, and we are united in delivering on Vanguard's core purpose.
Our core purpose: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success.
How We Work
Vanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.