Address:

Analyst (Associate), Credit Alternatives, Global Asset Management

We are looking for an Associate to join our Credit Alternatives investment team, with a focus on portfolio management, investment analysis, research, and portfolio reporting and analytics. The role will involve supporting portfolio managers with credit analysis, investment monitoring, performance reporting and attribution, quantitative modelling, and market research.

The ideal candidate will have strong quantitative skills, solid credit fundamentals, excellent attention to detail, and a strong interest in structured credit and asset management. Experience in credit research and analysis is a strong asset.

This is a hands-on role offering significant exposure to structured credit investing, trading, and portfolio management.

Key Responsibilities

Portfolio Management

• Assist portfolio managers with the day-to-day management of CLO, ABS, and structured credit portfolios.
• Monitor portfolio exposures, asset allocation, cash balances, leverage, liquidity, and compliance with investment guidelines.
• Provide support in trading and investment analysis, including relative value comparisons across CLO tranches, ABS sectors, ratings, spread levels, duration, and yield.
• Prepare concise investment summaries and credit memos for portfolio managers and investment committees.
• Review offering documents, trustee reports, rating agency reports, servicer reports, and transaction cash flow structures.
• Assist in identifying credit risks, structural protections, collateral tends, and rating migration.
• Assist in preparing pre-trade and post-trade analytics
• Support portfolio construction, including risk allocation, sector concentration, rating exposure, and stress testing.

• Prepare regular internal and external fund reporting materials, including portfolio summaries, performance attribution, risk metrics, and market commentary.
• Assist with monthly and quarterly investor reports, factsheets, board materials, and portfolio review packages.
• Maintain and enhance reporting templates for CLO and ABS portfolios, including exposure breakdowns by rating, vintage, manager, sector, collateral type, geography, spread, yield, and maturity profile.
• Support NAV review processes through analysis of pricing, valuation changes, realized/unrealized P&L, income, and FX impacts where applicable.
• Collaborate with other groups including operations, compliance, product, and finance teams to ensure accurate reporting and data integrity.

Quantitative Modelling & Analysis

• Build and maintain analytical models to support CLO and ABS investment decisions, portfolio monitoring, scenario analysis, and risk assessments.
• Develop and maintain tools to analyze spread movements, yield sensitivity, default stress, prepayment assumptions, recovery rates, reinvestment risk, and liability structure impacts.
• Support cash flow modelling for structured credit investments, including waterfall analysis and tranche-level outcomes.
• Use data to identify trends, relative value opportunities, risk concentrations, and performance drivers.
• Automate recurring reporting and analytics processes where possible.
• Work with large datasets from trustee reports, Bloomberg, Intex, rating agencies, custodians, fund administrators, and internal systems.

Required Qualifications

• 3-5 years of relevant financial markets experience, preferably in fundamental credit analysis, research, quantitative analysis, investment management, trading, and capital markets
• Undergraduate or graduate degree in finance, economics, mathematics, engineering, statistics, computer science, or a related quantitative field.
• CFA or progress towards CFA or other relevant professional designations is an asset.
• Strong quantitative and analytical skills, with the ability to work with complex data sets.
• Solid understanding of fixed income and credit concepts.
• Strong proficiency in Excel, including financial modelling and data analysis, PowerPoint, Bloomberg, Python, Intex, and Power BI

Key Skills & Attributes

• Strong credit judgment and ability to assess downside risk.
• Quantitative mindset with strong modelling and data analysis capabilities.
• High attention to detail and commitment to accuracy.
• Ability to manage multiple priorities and meet tight deadlines in a fast-paced investment environment.
• Strong intellectual curiosity and willingness to learn complex structured credit products.
• Commercial mindset with an interest in markets, relative value, and portfolio management.
• Collaborative team player with strong communication skills.

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/ca/en.

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.