Business Area: Fixed Income and Treasury
Place of Work: London
Contract Type: Permanent
Hours: Full Time
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Working with Higher Education employers to build a secure financial future for our members and their families.
Provide support and sector back-up to the Senior Credit Analyst covering the Healthcare, Technology, Media and Telecom (TMT) sectors. Support to the Senior Credit Analyst covering the Consumer and Retail sectors might also be possible. The focus will be predominantly on Investment Grade (IG) credits.
Be a point of knowledge for Global Credit across specified sectors and in time be able to take views on individual credits based on these skills and knowledge. Be able to contribute to the collegiate decision-making process of the desk. Intention is to independently generate investment/divestment ideas for desk as well as actively participate in team discussions around single-names.
USSIM is the investment management arm of USS, one of the UK’s largest private pension funds. Global Credit currently has credit mandates with over £3bn in assets with the expectation for a substantial growth in AUM. Global Credit can invest across the capital structure with a flexible mandate.
Applications are welcome from candidates with a current knowledge in one or more of the sectors mentioned above along with candidates willing to initially specialise in these sectors. Ultimately, we would be looking for the candidate to be able to progress to cover a sector(s) independently.
A background from a Credit Rating Agency, or conventional sell-side or buy-side research role would be useful.
• Provide support in covering sectors with the goal of taking ownership of the credit exposure to allocated sub-sectors over time.
• Monitor these credits closely, including the quarterly earnings reporting and changes in and relative to expectations.
• Keep on top of regulatory and policy changes, as well as macro developments, which could impact the credit exposure.
• Generate investment/divestment ideas and assist the Portfolio Managers.
• Attend credit conferences/Issuer meetings and share relevant insights.
• Key internal relationships with peers across Equities, Investment Strategy and Advice, Manager Selection, Responsible Investing and Private Markets. Aim to collaborate/ share expertise across the various teams to maximise benefit to USS.
• Develop working relationships with key sell-side Analysts.
Managing Processes & Future Focus
• Help to develop and implement monitoring tools and models for allocated sector coverage
• Background as a Credit Analyst.
• Understanding of drivers for IG credits.
• Strong modelling skills.
• Feel for macro factors affecting credit.
• Proficient in Excel.
• Working well in a small team.
• Experience in writing and presenting clear, concise reports/process documents, sometimes synthesising complex material.
• Existing sector knowledge of Healthcare, TMT, Consumer or Retail sectors.
• Experience of US and European credit markets.
• Proficient in using Bloomberg.
• Understanding of rating agency methodology for assigned sectors.
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.