Research Analyst (Western Asset)

WHO IS WESTERN ASSET

Western Asset Management focuses on supporting our clients’ financial goals and creating positive outcomes for all kinds of people. Primarily a globally integrated fixed-income manager, we source ideas and investment solutions worldwide, with an emphasis on long-term fundamental value investing, using multiple diversified strategies.

Western Asset is a global asset management firm renowned for its expertise in fixed-income investing. Operating as a cohesive team, we leverage an open, integrated investment platform to deliver superior results for clients. Our collegial culture enables us to harness the combined experience and fixed-income acumen of our investment professionals worldwide. Western Asset is owned by Franklin Templeton, a diversified firm that spans asset management, wealth management, and fintech, with clients in over 150 countries and offices on six continents.

As a Research Analyst, you are a key member of Western Asset’s money market, municipal, and liquidity research teams. You will partner closely with portfolio managers, traders, risk, and operations to help manage daily liquidity across fixed-income portfolios. The role sits at the intersection of markets, cash forecasting, and portfolio construction—providing analytics, research, and decision support related to funding, cash balances, liquid instruments, and liquidity risk. You will help ensure portfolios meet liquidity guidelines, support trade execution readiness, and contribute to ongoing enhancements to our liquidity toolkit and processes. This role is based in our New York office with 4 days in office.

What You Will Do

• Conduct fundamental credit research on investment-grade corporates, state-sponsored agencies, non-bank financial institutions, and global systematically important banks. Responsibilities include leading annual credit reviews, continuous assessment of issuer-specific, liquidity, event-driven, and systemic risks, supporting investment decisions across 2a‑7 and EU money market funds as well as short-duration separate accounts.
• Maintain credit files in accordance with regulatory requirements for money market funds, including daily surveillance of credit ratings, preparation of formal credit reports, and documentation of material credit developments.
• ·Evaluate changes in issuer credit quality by integrating market developments with fundamental analysis and supporting issuer approval decisions for money market fund eligibility. Serve as the sole credit authority on the trading desk, providing buy and sell recommendations to portfolio managers.
• Coordinate with risk and compliance to provide updates on ratings changes, research methodology, and ensure completion of regulatory reporting requirements.
• Collaborate with the broader global investment management team on cross-sector and cross-regional credit insights.
• Maintain ongoing professional development to stay current on market developments and regulatory changes.

What You Will Bring

• Minimum 5 years of relevant experience within asset management, fixed-income research, trading, portfolio analytics, treasury/cash management, or liquidity/risk analytics.
• Chartered Financial Analyst (CFA) designation highly desirable.
• Strong understanding of fixed-income markets and instruments, including rates, credit, funding markets, and the drivers of market liquidity.
• Demonstrated analytical capability: comfort working with large datasets, developing repeatable analyses, and translating outputs into clear recommendations.
• Proficiency with Bloomberg and Excel; experience with data/analytics tools such as Python, SQL, R, VBA, Power BI/Tableau, or similar is a plus.
• Excellent written and verbal communication skills; ability to convey technical concepts to portfolio managers, traders, and cross-functional partners.
• High attention to detail with strong judgment and the ability to prioritize in a fast-paced, market-driven environment.
• Bachelor’s degree in Finance, Economics, Mathematics, Engineering, or a related quantitative discipline.

Franklin Templeton offers employees a competitive and valuable range of total rewards—monetary and non-monetary — designed to support their well-being and recognize their time, talents, and results. Along with base compensation, employees are eligible for an annual discretionary bonus, a 401(k) plan with a generous match, and recognition rewards. We also offer a comprehensive benefits package, which includes a range of competitive healthcare options, insurance, and disability benefits, employee stock investment program, learning resources, career development programs, reimbursement for certain education expenses, paid time off (vacation / holidays / sick / leave / parental & caregiving leave / bereavement / volunteering / floating holidays) and a motivational wellbeing program. we expect the base salary for this position to range between $150,000 - $200,000 depending on level of relevant experience, plus discretionary bonus.

About Western Asset

At Western Asset we’re saying hello to the future. Committed to being the leading fixed-income investment management firm in the world, we’re investing in new technologies, methodologies and markets. We’re also investing in our people. Our business is guided by a belief in doing the right thing: that if we treat our clients and colleagues with fairness and respect, success will follow. We’re building on our reputation and resources with an entrepreneurial approach that drives innovation. Every day is an opportunity for us to get better by making the most of the possibilities that our people and ideas can bring.

We believe an inclusive and respectful workplace promotes the formation of different ideas and viewpoints, enhances independent thinking, and helps create a work environment where the best ideas are identified and implemented. We are committed to unlocking the potential of our team by providing an inclusive and supportive environment that offers everyone the chance to grow personally, advance professionally, and participate fully in the Firm’s success.

EQUAL EMPLOYMENT OPPORTUNITY ("EEO")

Western Asset Management is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, citizenship, age, marital status, medical condition (including pregnancy and related conditions), physical or mental disability, protected veteran status, and/or any other characteristic protected by law.

Link to Equal Employment Opportunity Statement: https://westernasset.com/careers/careers-site/common/pdfs/EQUAL_EMPLOYMENT_OPPORTUNITY.pdf

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