Primarily responsible for monitoring owned securities and sourcing new ideas for the firm’s Large Cap Core Equity (LCCE), Small-Mid Cap Core Equity (SMCCE) and Small Cap Core Equity (SCCE) strategies. The generalist candidate will also have specific experience covering financial services companies, including the Banking sector. As a Core manager, we build domestic equity portfolios of high-quality securities whose prices are not fully appreciated by investors.
Essential Duties and Responsibilities:
- Identify potentially attractive securities from firm-developed screens and perform due diligence, the process of which includes:
- An initial review of the company to determine its qualitative attractiveness and the potential existence of value creating catalysts
- An initial discounted cash flow model of the company for valuation purposes
- Fundamental analysis including the review of SEC filings, the company’s investor relations materials, a call with management, further refinement of the valuation model, the contents of which are summarized in a written report
- Monitor existing holdings in the LCCE, SMCCE and SCCE strategies, which includes:
- Review SEC filings
- Review company news flow
- Read each quarterly financial release and the accompanying earnings conference call transcript and create a brief earnings summary report
- Maintain a current valuation model for each owned security
- Relay important news and significant price movement to the members of the Domestic Equity Investment Team
- Run backtesting models that drive the sector screens
- Create, run and maintain sector screens and watchlists to facilitate the generation of new ideas
- Other project work as required, which could include:
- Projects related to quarterly commentaries
- Projects related to portfolio analysis work such as attribution, characteristics, etc.
- Projects related to researching potential new software tools
- Projects related to Isthmus Insights whitepapers
Required Attributes
- Generalist experience covering multiple industries/sectors, as well as expertise in covering the financial services (banks, insurance companies, real estate investment trusts and other financials)
- Heightened willingness to research opportunities in unfamiliar industries/sectors to source new ideas
- Willingness to operate within a tightly defined screening methodology
- Ability to produce thorough and accurate work in a timely and reasonable fashion under a deadline-driven structure
- Extensive experience conducting discounted cash flow analyses
- Ability to develop, advance and document cogent investment theses in the form of efficiently-written company reports
- Ability to advance workflow at a reasonable pace in connection with a rapidly changing marketplace, balancing the need for thoroughness and speed of execution
- Ability to develop and cultivate relationships across all staff levels
- Attention to detail, excellent organization and time management skills, proven drive to consistently follow through
- Ability to listen well with strong written and verbal communication skills
- Ability to manage multiple priorities
- Process-driven and results-oriented
- Creative problem solver with an ability to anticipate needs and actively participate in a continuous improvement culture
Qualifications
- Bachelor’s degree in Finance with a strong and demonstrated accounting background
- Minimum three years equity research experience
- Chartered Financial Analyst (CFA) or CFA candidate
- Knowledge of FactSet Research Systems
