Director, Leveraged Finance & Covenant Research (New York)

Covenant Review is currently seeking a Director—Covenant Analyst based out of our New York office. 

Exciting opportunity to be a covenant analyst for our market leading leveraged finance intelligence team at Covenant Review. We are seeking a seasoned leveraged finance lawyer to join our team as a Director—Covenant Analyst. The role involves (1) producing insightful leveraged finance research in a variety of contexts that is consumed by a broad spectrum of leveraged finance market participants including hedge funds, CLOs, law firms, and sell-side financial institutions and (2) participating in thought leadership presentations on leveraged finance topics to the market.

A keen eye for detail, issue spotting, transaction structuring (“Can they do it?”), transaction deconstruction (“How did they do that?”), impeccable writing, and the ability to present and explain complicated concepts to a broader audience are necessary skills for this role. The key skill set, however, is the ability to deconstruct complex issues or contract provisions and then summarize them in both written research as well as subscriber calls or presentations. We expect that candidates for this role have deep familiarity with documentation concepts in the leveraged finance market. 

The compensation for this position is competitive with in-house legal positions of similar seniority, but superior in many ways. Our covenant analysts work fixed hours, with no late night or weekend work, in a hybrid working environment. In addition, our analysts get all the benefits of working for Fitch Solutions, a leading financial information services company, while at the same time being immersed in Covenant Review’s attorney-centric culture. 

Celebrating its 25th anniversary this year, CreditSights continues to offer award-winning, unbiased research on global credit markets, empowering clients to make informed investment decisions. With offices in New York, London, Singapore, Glasgow, Denver, and Charlotte, we serve a diverse global institutional client base, including banks, investment advisors, mutual funds, and hedge funds. As a leading voice in credit research, our expert insights are featured in top publications such as Bloomberg, The Wall Street Journal, and Financial Times. As a Fitch Solutions Company, CreditSights provides a dynamic environment fostering professional growth and innovation, where you collaborate with seasoned analysts to deliver critical intelligence in complex financial markets.

Working at CreditSights offers the chance to be part of a premier independent credit research firm, renowned for its in-depth analysis and insights. You'll collaborate with a team of seasoned analysts, delivering critical intelligence that helps clients navigate complex financial markets. This dynamic environment encourages professional growth and innovation, enabling you to make a meaningful impact in the field of credit research.

How You’ll Make an Impact:

Key Responsibilities include:

• Write research reports on high yield bond and investment grade bond covenants. Our analysts follow a name from cradle (new issuance) to grave (bankruptcy).
• Write event-driven research and reports on special situations as they develop in the market.
• Write research for our growing library of covenant primers targeted at our less sophisticated subscribers.
• Write market leading reports that set the conversation on new trends and market developments.
• Participate in thought leadership presentations and webinars to our subscribers and prospects to help the market understand complex concepts, recent case studies, or documentation trends, whether virtually or in person.
• Engage with our subscribers as they seek clarification on our research or discuss potential transactions.
• Establish credibility in the market as a subject matter expert on leveraged finance.
• Meet tight deadlines for publication.

You May be a Good Fit if:

• The ideal candidate is a senior lawyer with extensive experience drafting, negotiating, and reviewing leveraged finance documentation, including credit agreements or indentures. 6+ years of Big Law experience in leveraged finance.
• The ideal candidate is comfortable participating in subscriber calls or presentations on thought leadership topics in the leveraged finance market.
• Ability to communicate complex issues clearly and engage with sophisticated credit investors.
• Deep understanding of the leveraged finance market and how covenants and financial definitions work in leveraged finance documents.

What Would Make You Stand Out:

• The ideal candidate has experience in distressed debt and special situations analysis with leveraged finance documents governed by NY law.
• Solid business acumen with commercial sensibilities.
• Experience working on deadline.
• Familiarity with AI research tools and a willingness to adapt to a shifting technological landscape.

Why Choose Fitch:

• Hybrid Work Environment: 2 to 3 days a week in office required based on your line of business and location
• A Culture of Learning & Mobility: Dedicated trainings, leadership development and mentorship programs designed to ensure that your time at Fitch will be a continuous learning opportunity
• Investing in Your Future: Retirement planning and tuition reimbursement programs that empower you to achieve your short and long-term goals
• Promoting Health & Wellbeing: Comprehensive healthcare offerings that enable physical, mental, financial, social, and occupational wellbeing
• Supportive Parenting Policies: Family-friendly policies, including a generous global parental leave plan, designed to help you balance career and family life effectively
• Inclusive Work Environment : A collaborative workplace where all voices are valued, with Employee Resource Groups that unite and empower our colleagues around the globe
• Dedication to Giving Back: Paid volunteer days, matched funding for donations and ample opportunities to volunteer in your community

Fitch is committed to providing global securities markets with objective, timely, independent and forward-looking credit opinions. To protect Fitch’s credibility and reputation, our employees must take every precaution to avoid conflicts of interest or any appearance of a conflict of interest. Should you be successful in the recruitment process at Fitch Ratings you will be asked to declare any securities holdings and other potential conflicts prior to commencing employment. If you, or your immediate family, have any holdings that may conflict with your work responsibilities, you may be asked to divest yourself of them before beginning work.

Fitch is proud to be an Equal Opportunity and Affirmative Action Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law. 

Expected base pay rates for the role will be approximately $250,000 to $275,000 per year. Actual salaries will be determined on an individualized basis and may vary based on factors including but not limited to education, training, experience, past performance, and other job-related factors. Base pay is one part of Fitch’s total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, long-term incentives, and other benefits sponsored by Fitch.

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