Posted: Wednesday, January 17, 2018 3:12 PM
Role Value Proposition: MetLife is looking to hire a senior analyst to lead the Municipal Credit Research group. Reporting directly to the Head of Global Credit Research, this executive will be responsible for assigned sectors and credits, oversee a group of 3:5 research analysts, and be responsible for determining the direction and priorities of the group as well as making portfolio investment and trading recommendations in the sector.
The Municipal Credit Team is part of the Global Credit Research team, which includes over 60 Analysts located around the world and representing 190 billion of MetLifes 580 billion(1) AUM in combined managed assets. MetLife Investment Management (MIM) believes that specialization is important for rigorous, in:depth credit analysis. As such, Municipal Credit Analysts are focused on specific sectors and possess in:depth knowledge of the municipal market. The Municipal investment team follows a disciplined approach to credit research and portfolio construction. Prior to making investment decisions, the Analyst provides a fundamental, bottom:up credit opinion. The Portfolio Manager evaluates the strategic fit for each security based on established investment guidelines, including factors such as credit quality, yield, issuer concentration, and industry weighting, as well as a relative value assessment. In addition, MIM overlays its bottom:up credit approach with a top:down macro view of key economic, market, and industry trends, as well as cross:sector comparisons. Ideas are generated at any and every stage of the process, and by any member of the team. Our strategy in municipals is to identify issuers with strong business profiles, improving credit fundamentals, and attractive valuations. We invest in publicly:traded, U.S. Dollar:denominated taxable and tax:exempt bonds issued by U.S. municipal entities, including state and local governments, as well as revenue:generating enterprises that provide public services such as toll roads, airports, universities, public utilities, and hospitals. For the General Account, we generally invest in credits with a long term view, and with the expectation that the credit profile of the issuer will withstand both external shocks and dips in the business cycle.
In addition to managing General Account assets, MIM also has a growing business managing third party client funds. In September 2017, MetLife, Inc. acquired Logan Circle Partners (LCP), a traditional institutional fixed income asset manager. Culturally, LCP shares MIMs strong focus on in:depth fundamental research, investment performance, client service and risk management. The product offerings and client base that LCP brings to the MIM platform are complementary to MIMs existing products and clients. Both firms believe there is significant opportunity to cross:sell and further develop the combined capabilities in each others primary markets, including Municipals.
MetLifes municipal bond portfolio has grown to about 15 billion in actively managed assets, with 75 invested in taxable municipals, making MIM the second largest investor in this asset class.
:Manage municipal research team including proactive thought leadership and excellent communication with key stakeholders
:Monitor and evaluate market, sector and issuer:specific developments
:Analyze primary and secondary investment opportunities in assigned sectors and perform active surveillance of portfolio holdings
:Communicate credit views and ideas to PM and trader(s), including positioning of the portfolio at the sector and issuer level
:Contribute to the timely analysis of investment opportunities, including the development of purchase/sale recommendations and relative value ideas within the Unit by keeping abreast of all aspects of the municipal market, including new developments, issuance, and structures
:Make buy/sell investment recommendations based on credit views and relative
• Location: North Jersey, whippany
• Post ID: 51938952 northjersey