Analyst/Associate, Structured Product Valuation

Job Description:

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PriceServe – Fixed Income Securities Pricing. PriceServe is a fast growing business at Merrill that helps to value clients’ portfolios. Customers (including hedge funds, money managers, mutual funds, banks and insurance companies) pay PriceServe to provide high-quality, informed valuations for securities and loans in their portfolio.  The need for transparency and disclosure has become increasingly important to institutional investors.  PriceServe uses fundamental analysis and in-depth understanding of deal structure on ABS/RMBS/CLOs along with market color in its valuations.   Evaluators work closely with Trading and Research to provide customized solutions to our clients.  

Job Description:
This job is responsible for performing financial and statistical analyses, conducting research, and participating in specific client and deal teams. Key responsibilities include developing client presentations and structuring and execution activities. Job expectations may include rotating through any of the multiple client management, credit management, and capital raising product areas across Global Corporate and Investment Banking in a sales function.

Responsibilities:

• Conducts financial analyses and prepares support documentation for client presentations
• Researches products and services in the market to gain insight into marketing and sales trends
• Supports the trading strategy to build effective client relationships and provide customized products and services to clients
• Participates in due diligence sessions, while communicating and interacting with deal team members
• Assists with sales, trading, and hedging activities and documents key findings for the team
• Evaluate valuations for Mortgage-backed securities, Asset-backed securities, Structured Products, CLOs, and Corporate credit, with an emphasis on harder-to-value securities
• Work with the structured product trading desks to gather trading prices, spreads, and other pricing data
• Develop understanding of deal and waterfall structure and collateral risks and attributes
• Select appropriate prepayment and default scenarios to correctly value securities and run cash flows on securities
• Discuss assumptions and cash flows with clients and respond to client pricing disagreements
• Gather and organize market data to be used in bond valuation work
• Utilize research and research models to analyze loss and prepayment assumptions
• Develop procedures to meet deadlines and to facilitate client delivery and quality control
• Pursue missing or incomplete data from research and trading desks

Skills:

• Strong analytical experience
• Interest in Fixed Income securities
• Some experience with Bloomberg
• Highly proficient in using Microsoft Excel, strong preference for VBA and other automation skills
• Ability to work under a time pressure and to meet stringent deadlines
• Ability to understand a financial offering circular and trustee report
• Causation Analysis
• Client Management
• Critical Thinking
• Research Analysis
• Risk Analytics
• Financial Forecasting and Modeling
• Presentation Skills
• Research

Minimum Education Requirement: Bachelor’s degree in related field or equivalent work experience

Shift:

Hours Per Week: