Associate / VP - High Yield Credit Analyst

London, United Kingdom
27 Dec 2018
03 Jan 2019
Job Function
Credit Analysis
Industry Sector
Finance - General
Employment Type
Full Time
Job title: High Yield Credit Analyst

Corporate Title: Associate/VP

Department: Global Markets

Location: London

Company overview:

Nomura is an Asia-based financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit

Department overview:

Nomura's Global Markets Division handles client transactions for financial institutions, corporates, governments and investment funds around the world. We act as market makers, trading in fixed income and equity securities, including currencies, interest rates and credit in cash, derivatives and structured products. We have taken market-leading positions across the globe by leveraging the strength of our talent, client relationships and technology.

By developing strong relationships with our client base through consistent interaction, independent advice and pre-eminent access to Asia, we have built a powerful global franchise across interest rates, currency and credit products. Our client services cover both high-volume flow products and carefully tailored structured solutions. We have adapted to the changing financial landscape to build a client centric focus differentiated by innovation, electronic and service excellence and market-leading derivatives capabilities.

Role description

Do you like assessing value and risk? Do you enjoy presenting and defending your view? Can you formulate an opinion quickly and with less than 100% of the facts at hand? Do you enjoy a fast-moving work environment? As a high yield credit analyst, you get all of this, and more. Your responsibilities would include "owning" specific industry verticals and providing in-depth coverage on a universe of 10-12 individual credits. This is a role where you can expect to be stretched professionally but will enjoy broad exposure and learn a great deal. We're looking for someone like that who can:

  • Conduct fundamental, bottom-up credit analysis and risk assessments of European high yield credits, yet weave in and take account of the intangible effects of market technical factors .
  • Be conversant with the full breadth of the corporate capital structure, from deeply-subordinated mezzanine instruments to senior secured debt.
  • Convert financial market knowledge into understandable investment opinions and make relative value recommendations within and across capital structures, ratings and industry verticals.
  • Remain current on market and commercial developments to help frame investment strategies
  • Develop industry knowledge to anticipate cycles, secular trends, and structural changes in industries covered.

Key objectives critical to success

The role would be highly interactive with both the sales and trading desks as well as clients. The mind-set is that the traders and analysts both take ownership and responsibility for positions and sales and analysts work jointly to cultivate and entrench institutional relationships. You would demonstrate:

  • A strong commercial mentality with an entrepreneurial bias, a willingness to learn and an obsession to detail.
  • Inquisitive, independent thinking and an ability to constructively challenge others' viewpoints, and accept constructive challenge of their own.
  • Highly model-literate with an engaging, outgoing personality.
  • An ability to collaborate internally across teams within Global Markets and across divisions.
  • The ability to actively cultivate relationships at buy-side firms, both in the real-money and hedge fund communities.
  • The highest standards of professional ethics, leading by example to sustain Nomura's culture.

Skills, experience, qualifications and knowledge required

  • Previous experience/education in accounting/financial analysis will help, though it is not a requirement g. the holder of a relevant degree or a recognized accountancy qualification and preferably a professional industry qualification such as CFA or FRM (or studying towards one)
  • Possess 3-5 years' experience in a corporate finance, leveraged finance or strategy role, preferably with some exposure to European high yield markets or borrowers.
  • Experienced at analysing economic and market data, industry trends, issuer credit quality and security characteristics to support investment decisions.
  • Excellent communication and presentation skills with an ability to assess information and make timely recommendations.

Right to Work

The UK Government have taken steps to reduce net migration to the UK by limiting the number of overseas workers from outside the EEA coming to the UK for employment. Please note that whilst we are able to consider applications from overseas workers from outside the EEA (who require a Tier 2 (General) visa) we can only employ them if we can provide evidence that there are no other suitable candidates for this vacancy from inside the EEA.

Please contact us if you are visiting our offices and require any form of personal assistance or physical adaptations to be provided for your appointment. A member of staff will be happy to help.