Collateralized Loan Obligation; CLO Trader

Job Description The Group

Fidelity’s Fixed Income Division is one of the world’s leading fixed income managers with over $1.8 trillion in fixed income assets managed by a staff of more than 200 investment professionals. At Fidelity, we combine fundamental research on debt issuers with macroeconomic and quantitative analysis to develop investment decisions that aim to maximize risk-adjusted total return for our clients. The Fixed Income Division is headquartered in Merrimack, New Hampshire.

The CLO Trader will be a member of the Fixed Income trading group and will work very closely with our investment grade and high-income investment teams. The CLO Trader will be responsible for deal management, trading, and market reconnaissance in the space. The individual will also partner with portfolio managers, analysts, and traders to generate investment ideas and help drive positive returns in the sector.

The CLO Trader will be primarily based in Merrimack, NH, but it is expected that they spend a regular portion of their time with their investor counterparts in Boston, MA.

• Source investment ideas by understanding our strategy, positioning, and identifying attractive relative value opportunities in both primary and secondary markets.
• Engage & source new deals, negotiate levels, structure, allocations, and help manage ongoing document negotiations.
• Collect, organize, and disseminate relevant market and trading information to investment teams across investment grade, high-income and alternatives investment teams.
• Build and maintain strong dealer relationships (sales, trading, and syndicate).
• Represent the trading desk in periodic team and client meetings as well as other ad hoc forums.
• Partner with technology, compliance, legal, operations, and other internal groups to provide best-in-class service and execution capabilities to the portfolios.

• 7-10+ years of CLO trading experience.
• Trade and manage liabilities across the full capital structure from AAAs to equity.
• Build relationships and understanding of CLO managers alongside research analysts by attending conferences, participating in due diligence calls, and routine follow-ups.
• Advise and collaborate with growing BALLYROCK team, $7bln+ AUM.
• Act as main point of contact with CLO syndicate.
• Improve analytic tools and use of data to build market/portfolio surveillance improvements.
• Help manage existing portfolio across several fund groups and mandates.
• Monitor and stay informed on new parts of the market and other forms of leverage finance – private credit.

• Accountability
• Enthusiasm
• Integrity
• Teamwork
• Respect