Director, Senior Covenant Analyst (New York)

Covenant Review, a division of CreditSights which is a Fitch Solutions company, is currently seeking a Director, Senior Covenant Analyst based out of our New York City office. 

Celebrating its 26th 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.

About the Team

Exciting opportunity to be a covenant analyst for our market leading leveraged finance intelligence team at Covenant Review, celebrating its 20th anniversary this year. The role will involve writing research that is consumed by a broad spectrum of leveraged finance market participants including hedge funds, CLOs, law firms, and sell-side financial institutions.

A keen eye for detail, issue spotting, transaction structuring (“Can they do it?”), transaction deconstruction (“How did they do that?”), and impeccable writing are necessary skills for this role. The key skill set, however, is the ability to deconstruct complex issues or contract provisions and summarize them in concise but precise language that is understandable by the most junior research analyst and sophisticated enough for the most senior law firm partner. We expect that candidates for this role have deep familiarity with the leveraged finance market preferably from the perspective of both the buyside and the sell side. 

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 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 start-up culture.

How You’ll Make an Impact:

• Write research reports on broadly syndicated and private credit leveraged loan covenants. Our analysts follow a name from cradle (new issuance) to grave (bankruptcy).
• Assist with preparation of private credit portfolio analyses and data reports.
• 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.
• Engage with our subscribers as they seek clarification on our research or discuss potential transactions.
• Work alongside colleagues at CreditSights and LevFin Insights to create powerful cross-disciplinary research.
• 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 and indentures.
• 6 years of Big Law experience in leveraged finance.
• Deep understanding of the leveraged finance market and how covenants and financial definitions work in leveraged finance documents.
• Solid business acumen with commercial sensibilities.
• Experience communicating with business principals on complex leveraged finance issues.
• Experience working on deadline.

EDUCATION

• Law degree. Member in good standing of the New York Bar.

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.

FOR NEW YORK ONLY: Expected base pay rates for the role will be between $225,000 and $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.