Investment Portfolio Analyst 2 - Municipals Credit Analyst

Job Description

Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as “Personal Cell” or “Cellular” in the contact information of your application.

At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. We’re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you’ll feel valued and inspired to contribute your unique skills and experience.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Enterprise Finance drives financial management for the company and maintains and enhances risk and financial controls. Key functions within Enterprise Finance include finance and accounting; Treasury; corporate development, mergers, and acquisitions; Data Management and Insights, the Customer Remediation Center of Excellence, Enterprise Shared Services, Business Process Management, and Corporate Strategy. Enterprise Finance informs shareholders, regulators, taxing authorities, employees, and leaders of the company’s financial performance through earnings releases, investor meetings and conferences, and meetings with regulators and credit rating agencies, following appropriate reporting guidelines. They also maintain and enhance risk and financial controls and lead many of the company’s shared services functions including corporate properties, security, and global services.

Team Description:

The Wells Fargo Investment Portfolio (“IP”) comprises public and private investments for the Credit Investment Portfolio (“CIP”) and public investments for the Macro Investment Portfolio (“MIP”). The CIP is responsible for the evaluation of credit-driven investment opportunities across a broad spectrum of corporate bonds, notes, loans, Municipal bonds, CLOs and other asset-backed securities. With a view towards long term holds, CIP focuses on relative risk/reward by purchasing and selling securities at prices that enhance shareholder value and improve Wells Fargo’s risk adjusted return on capital. CIP applies the same depth of credit due diligence that other lending divisions of the bank have historically applied to loan products. Accordingly, each investment is underwritten from the bottom up with thorough credit, structural, and legal analysis, then monitored continuously until final repayment of principal.

The Municipals Portfolio within CIP manages a large investment portfolio of high-quality taxable and tax-exempt municipal bonds. The investment strategy is based on comprehensive credit analysis, and the group leverages Wells Fargo’s credit culture and expertise to identify attractive investment opportunities for the Company. The Municipals Portfolio is hiring an Investment Portfolio Analyst 2 to serve as lead credit analyst for approximately 40-60 municipal bond credits in the General Government portion of the portfolio.

Job Description/Responsibilities:

• Perform robust credit analysis for each obligor and relative value analyses across subsectors of the municipal asset class, including state governments, dedicated taxes, cities and counties, community college districts, school districts and housing finance authorities.
• Perform credit underwriting, research and analysis to support the portfolio’s investment decisions
• Monitor credit quality for the portfolios holdings, assign credit grades and maintain operational integrity in the portfolio’s databases and purchase tracking system
• Evaluate potential new investments in the primary and secondary credit markets and recommend opportunities with favorable risk/return characteristics.
• Analyze individual credits and industry themes to identify, document, and report credit concerns to mitigate risks as necessary
• Take responsibility for all aspects of managing designated credits—preparing pricing indications, updating databases, monitoring external credit downgrades, redemptions and continuing disclosure, make credit decisions and upgrade/downgrade holdings as credit conditions evolve
• Complete quarterly or annual monitoring by the credit policy deadlines for each assigned credit supported by quantitative modeling of annual financial statements and qualitative discussion, and assign an internal credit grade in conformance with the bank’s credit policies
• Request credit limits for purchases and maintain appropriately-sized credit limits over time
• Interact with the portfolio’s independent risk management oversight group to negotiate credit views, obtain credit approval for new names, and seek and justify changes in credit limits
• Partner and collaborate on ad hoc assignments with portfolio managers, peers and support teams including, but not limited to, trading, credit, market risk, technology, operations, controllers, and various auditors as needed to ensure delivery of portfolio objectives and financial results and meet regulatory requirements.
• Invest in the firm’s overarching objectives by participating in enterprise and firm-wide Diversity Equity and Inclusion efforts, team building and other initiatives.
• Train, develop and mentor junior analysts and the Portfolio’s India-based support team members
• Step in to support colleagues who are out on PTO or on leave to ensure continuity of portfolio operations

• 2+ years of investment research experience

• Experience in asset-backed, structured finance, or structured debt transactions
• Transaction or structuring experience with a major investment bank, reputable hedge fund, or specialty finance firm
• Ability to understand, operationalize, and assist in the structuring of complex financing transactions
• Ability to work in a fast-paced deadline driven environment
• Basic knowledge and understanding of capital markets pricing, legal, accounting, and tax concepts
• Excellent verbal, written, and interpersonal communication skills
• Experience with Bloomberg
• Qualitative or quantitative structuring credit skills
• Strong analytical skills with high attention to detail and accuracy
• Strong presentation skills
• Effective organizational, multi-tasking, and prioritizing skills
• Experience designing and post-closing operational management of customized financing structures and other standard/non-standard structured credit products

• Minimum of 2 year of experience with credit analysis in a fixed income asset class, preferably in Municipal securities
• Effective organizational, multi-tasking, and prioritizing skills
• Advanced Microsoft Office (Word, Excel, Outlook, and PowerPoint) skills
• Software development and/or programming experience (C#, R, Python, SQL, etc.)
• Willingness to lean in to a mutually-supportive team member environment that promotes engagement, continuous learning, and development
• Established knowledge of the evolving regulatory environment and the various constraints on the portfolio
• MBA, MPA, Master of Finance, JD, CFA or CPA are a plus

• Ability to provide and work from a home office
• Willingness to work on-site at stated location on the job opening
• Position Hours: Monday - Friday (as early as 7 am and as late as 6 pm ).
• Ability to work additional hours as needed
• Ability to work outside of regular business hours

CA-SF-South Of Market Area: 45 Fremont Street - San Francisco, CA
NC-Charlotte: 550 S Tryon St - Charlotte, NC
NY-New York: 30 Hudson Yards - New York, NY
DC-Washington: 1750 H St Nw - Washington, DC

All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.
Relevant military experience is considered for veterans and transitioning service men and women.
Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.