Investment Professional - Distressed Debt Analyst

As a team member in the Finance department at Nationwide, the opportunities are endless! You can grow and learn in diverse areas across many disciplines such as Advanced Analytics, Investments, Actuarial, Accounting, Risk Management, Critical Business Advisor, Internal Audit, and so much more. Let Nationwide help create your career journey! At Nationwide®, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

The Distressed Debt Analyst is an important contributor on Nationwide’s growing Distressed Debt team.

The analyst will work alongside analysts, traders, and portfolio managers across Nationwide’s investment platform, primarily focused on public and private debt investments in various stages of financial stress. This is a great opportunity for an experienced investment professional to support Nationwide’s workout and restructuring capabilities. The analyst will partner with fixed income team members in analyzing existing investments and opportunities in distressed debt, restructurings, and other special situations. This position will also be actively involved with complex performing credits by helping to frame downside analyses and providing perspective through the lens of a potential workout.

Key skills and responsibilities for this role include :

Provide investment recommendations and insights on stressed and special situations for both existing holdings and new opportunities as appropriate.

Produce base case and downside fundamental forecasts and recovery models that include an assessment of asset value, an analysis and modeling of capital structures, and an assessment of the priority of claims.

Analyze corporate structures and relevant legal documents (bond indentures, credit agreements, etc.).

Implement workout (including out-of-court transactions) and restructuring strategies.

Engage with market participants, street analysts, restructuring advisors and the legal community, and Nationwide’s internal legal team.

Provide regular updates to the portfolio managers, analysts, and traders on all pertinent news items.

This role will be based out of our Columbus, OH office and team does come into the office on a hybrid-based schedule at least 3 times a week.

This role does not qualify for employer-sponsored work authorization. Nationwide does not participate in the Stem OPT Extension program.

This is an Investment G banded role.

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Job Description Summary

Nationwide Investments employs a research-driven, team-oriented, and results-focused investment process to manage our clients’ portfolios. Credit Research is one of three critical functions in the investment process, along with Portfolio Management and Trading. As an Investment Professional on our High Yield Credit Research team, you will be responsible for identifying, analyzing, and recommending investments within the High Yield bond and Leveraged Loan markets. Investment Professionals also have responsibility for driving and monitoring investment strategies in their assigned sectors and have a clear understanding of the broader investment markets.

As a potential people leader, you may also be responsible for the overall performance of the team, as well as management of individual associates. We value our associates by providing a collaborative environment, setting clear expectations, and providing the necessary feedback to develop and motivate associates to perform at a high level. Focus is on development of associate technical and behavioral skills, innovation and career development.

Job Description

Key Responsibilities :

Performs research and analysis in support of the team’s investment decision-making process. An Investment Professional demonstrates the ability to work without direct supervision on day-to-day tasks and contributes to the development of the investment strategy within assigned sectors.

Demonstrates an ability to cover investments with a higher level of complexity that require an advanced level of understanding of the credit markets.

Identifies innovative solutions and / or make decisions that impact the function or investment portfolio in support of the team’s investment decision-making process. Requires guidance on more complex judgements.

Identifies risk and return drivers, develops and models forward-looking scenarios, analyzes relative value, and provides investment recommendations for positioning within assigned sectors.

Communicates analysis and investment theses through use of written reports, presentations, conversations, and market meetings.

Evaluates changes in the economic, regulatory, legislative, and competitive business environments that impact investment fundamentals, valuations, and positioning within client portfolios.

Builds relationships with internal and external partners to facilitate the analysis of investment opportunities.

Collaborates successfully with other Nationwide Investment groups to advance our clients’ best interests.

May be a people leader within the asset class.

May perform other responsibilities as assigned.

Reporting Relationships : Reports to Senior Investment Professional. May lead a small team of Investment Analysts.

Typical Skills and Experiences :

Education : Bachelor’s Degree; MBA or CFA preferred

Experience :  6 to 10 years of related investment experience.

Knowledge, Abilities and Skills :

Proficient in Excel; prior Bloomberg experience is a plus

Leadership potential or currently capable of being a team leader

Advanced understanding of Credit Research tools and processes

Demonstrates presence with excellent verbal and written communication

Organized, detailed, and process oriented

Results driven, self-motivated, and intellectually inquisitive

Strong written and verbal communication skills

Analytical and problem-solving capabilities

Positive, hardworking, pro-active, and professional

Highly collaborative and team oriented

Critical and creative thinker willing to express opinions and views

Ability to lead projects and create solutions using complex problem-solving techniques

Decisive with excellent judgment with leader guidance on more complex judgements

Capable of working independently

Other criteria, including leadership skills, competencies and experiences may take precedence.

Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner.

Values : Regularly and consistently demonstrates Nationwide Values.

Job Conditions :

Overtime Eligibility : Not Eligible (Exempt)

Working Conditions : Normal office environment. Some travel may be required.

ADA : The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.

Credit Check : Due to the fiduciary accountabilities within this job, a valid credit check and / or background check will be required as part of the selection process.

Benefits

We have an array of benefits to fit your needs, including : medical / dental / vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more.