Global Credit Research Lead

Company: Morningstar, Inc.
Location: Chicago
Posted on: April 5, 2025

Job Description:

The Group:Research & Investments creates compelling insights and effective investment solutions to empower investor success. We honor time-tested investment principles and consistently apply robust methodologies to earn and protect trust. We thoughtfully deploy our key asset, our people, to scale and deliver more value to more investors. This diverse group comprises Morningstar's Equity, Manager, and Multi-Asset Research teams in addition to our Behavioral Insights and Investment Management teams.The Role:The Multi-Asset Research Team requires an experienced researcher to contribute to fixed income and currency research, reporting to the Head of Fixed Income and Currency Research. The role focuses on assessing credit risk, market trends, and economic factors that impact credit investments across different regions and sectors. The ideal candidate will work closely with other researchers, economists, and portfolio managers to deliver world-class fixed income and currency research that leads to better investment outcomes for clients.This role is based in our Chicago office. We are operating in a hybrid environment, where we are in-office 3 days/week.Responsibilities:

• Generate fixed income and currency related capital market research deliverables, including strategic capital market assumptions and shorter-term, valuation-driven fixed income and currency research for global credit asset classes, including investment grade corporate bonds, high yield corporate bonds, hard currency denominated emerging-market sovereign bonds, municipal bonds and other credit sensitive fixed income asset classes.
• Analyze macroeconomic factors, including interest rates, inflation, and economic growth, that influence credit spreads, valuations, and fundamentals.
• Provide views on relative attractiveness across global credit asset classes for internal and external clients.
• Enhance research robustness by producing additional analysis including scenario analysis, back testing, economic regime analysis, etc.
• Evaluate fair value assumptions for credit asset classes based on corporate, municipal and EM sovereign fundamentals and long-term trends.
• Lead the monthly production process of quantitative outputs from proprietary valuation models for fixed income asset classes and major currencies.
• Collaborate with economists and the capital market assumption team to produce country-specific economic research.
• Contribute to fixed income methodology improvements to sustain Morningstar's research excellence.
• Present research findings, conviction updates, and market insights to internal portfolio management teams and clients.
• Contribute to external research publications and media engagements with a focus on the outlook for credit assets.Requirements:
  • 5+ years of research experience in fixed income and currency research gained in a pure research capacity or as part of an investment management team.
  • Deep understanding of global fixed income markets, including government bonds, corporate debt, high-yield, and emerging markets.
  • Prior research experience in covering credit asset classes is preferred.
  • Expertise in macroeconomic analysis, monetary policy, and currency market dynamics.
  • Strong time management skills, with the ability to mentor and develop junior analysts.
  • Proven ability to communicate complex market information in a clear, concise, and actionable manner.
  • Strong quantitative skills and proficiency in relevant financial software and research tools.Compensation and Benefits:At Morningstar, we believe people are at their best when they are at their healthiest. That's why we champion your wellness through a wide range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:
    • Financial Health:
      • 75% 401k match up to 7%
      • Stock Ownership Potential
      • Company provided life insurance - 1x salary + commission
      • Physical Health:
        • Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages
        • Additional medical Wellness Incentives - up to $300-$600 annually
        • Company-provided long- and short-term disability insurance
        • Emotional Health:
          • Trust-Based Time Off
          • 6-week Paid Sabbatical Program
          • 6-Week Paid Family Caregiving Leave
          • Competitive 8-24 Week Paid Parental Bonding Leave
          • Adoption Assistance
          • Leadership Coaching & Formal Mentorship Opportunities
          • Annual Education Stipend
          • Tuition Reimbursement
          • Social Health:
            • Charitable Matching Gifts program
            • Dollars for Doers volunteer program
            • Paid volunteering days
            • 15+ Employee Resource & Affinity GroupsBase Salary Compensation Range: $114,600.00 - 206,280.00 USD AnnualTotal Cash Compensation Range: $143,250.00 - 257,850.00 USD AnnualMorningstar's hybrid work environment gives you the opportunity to work remotely and collaborate in-person each week. While some positions are available as fully remote, we've found that we're at our best when we're purposely together on a regular basis, typically three days each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.
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Keywords: Morningstar, Inc., Chicago , Global Credit Research Lead, Other , Chicago, Illinois