Credit Analyst

• Join a dynamic team supporting some of the industry's most respected brands.
• Shape research processes and influence portfolio strategy for leading fixed income solutions.
• Hybrid working environment.

Since Perpetual's acquisition of Pendal Group in January 2023, our proven and experienced fund managers have the autonomy to make decisions with conviction, built on a philosophy of meritocracy that fosters success from a diversity of insights and approaches to investment. We strive for superior results through a performance culture that backs independent actions.

Pendal does not have a 'house view' and operates a multi-boutique style business within the broader Perpetual Group, whose investment teams also operate under a similar structure. Our investment teams are supported by Perpetual's strong operational platform across risk and compliance, sales, marketing and operations, allowing our fund managers to focus on generating returns for our clients.

About the Role

We are looking for a motivated, inquisitive and commercially minded Credit Analyst to join Pendal's Fixed Income team. This is an opportunity to be part of a collaborative and high-performing group that manages some of Australia's leading fixed income strategies, known for their consistency, resilience, and client outcomes.

The successful candidate will play a central role in identifying, analysing, and driving investment ideas across the Australian dollar credit market with a focus on bottom-up credit research whilst also contributing to the top-down portfolio strategy.

Key Responsibilities

• Conduct detailed fundamental credit analysis across a range of issuers and sectors, forming clear, actionable investment views.
• Monitoring company news flow and incorporating new information into the credit view.
• Primary sector coverage – financials, infrastructure and utilities.
• Contribute to the team's credit allocation and relative value decisions, expressing conviction through data, research, and debate.
• Take ownership for maintaining issuer coverage and credit recommendations, ensuring insights are timely and relevant.
• Play an active role in refining and improving our credit research process — simplifying outputs, improving efficiency, and ensuring insights are user-friendly for portfolio decision-making.
• Work with portfolio managers to develop data-driven tools and dashboards that enhance credit monitoring, signal detection, and decision support.
• Contribute to top-down credit views, identifying key market drivers, sectoral themes, and structural trends.
• Present and defend investment recommendations with clarity and confidence across forums.

We are looking for

You are someone who:

• Has a strong sense of ownership, curiosity and initiative - you don't just identify problems, you seek to solve them.
• Brings conviction and commercial judgment to your analysis, backed by disciplined process and humility to learn.
• Thrives in a collaborative, fast-moving team environment, and can communicate complex ideas simply and persuasively.
• Balances analytical rigour with creativity - equally comfortable in Excel as in discussion about macro drivers or portfolio positioning.
• Is motivated by the opportunity to shape how credit research contributes to investment outcomes, not just to perform tasks.
• Minimum 6-8 years' experience in credit research, or related analytical roles (buy-side, sell-side, or ratings agency).
• Proficiency in Excel. Experience with VBA, SQL and/or Python/other coding languages is an advantage.
• Demonstrated ability to build models, analyse credit metrics, and translate data into actionable insights.
• Strong written and verbal communication skills, with experience presenting recommendations to senior stakeholders.
• Tertiary qualification in finance, economics, or a quantitative discipline.

How we work

Our unique culture is underpinned by our three organisational behaviours, Stretch, Own it, Make an impact which drive our approach of day-to-day interactions with colleagues and clients, the way we approach decision-making to the questions we ask and the problems we solve.

Employee benefits

• Work from anywhere in Australia for up to one month each year
• An annual allowance to empower you to prioritise your personal wellbeing
• Study support and commitment to supporting professional development

Diversity and inclusion

• Strong commitment to all aspects of Diversity and Inclusion through a robust 7 pillar strategy
• A growing number of employee-led networks who work to raise awareness and drive continued change
• We support over 50 First Nations Communities, helping to secure the communities' future. We encourage applications from Aboriginal and Torres Strait Islander People

We're committed to creating an inclusive workplace where diversity is celebrated. No matter your background or circumstances, we aim to provide an environment where you can thrive.