Early Career Investor Program - Research Associate
We are seeking qualified candidates to join our Early Career Investor (ECI) Program as a fundamental Research Associate to work with one of our sector teams in Alternatives. This sector team has a mandate to invest in long and short positions as well as in private companies and has a very long-term time horizon with a deep fundamental focus.
The Research Associate will have the opportunity to work closely with the alternatives team to further advance financial modeling skills, providing in depth strategic sector analysis and progressively assist an experienced Portfolio Manager.
We are seeking candidates who have very strong financial modeling skills, a willingness to learn and be a strong team player. Note, the ideal candidate is not expected to have a background in any sector.
The ideal candidate should have:
- Financial analysis and modeling skills: ability to model a company’s financials with relative ease and show proficiency in corporate finance. This includes the ability to proficiently model financials of a company, considering various non-GAAP adjustments as well as reflect key revenue / cost drivers into a quantitative framework in excel.
- Growth mindset and learning orientation: The passion and flexibility to continue learning, evolving and growing as an investor is required.
- The candidate will be expected to progressively expand into strategic analysis of sub-sectors and companies as well as field work.
- This role provides exposure to short positions and private investments in high growth areas, combined with a deep financial and strategic analysis toolbox, and as a result creates a significant opportunity for long term personal growth in a unique partnership culture.
- Strong collaboration skills: the successful candidate will both be energized by being an individual contributor within a collaborative team and by embracing the benefits of collaborating across the Firm. The Research Associate will build strong trusting relationships internally with colleagues and externally with company management teams.
- Ability to take risk and challenge consensus views, based on facts / proprietary analysis is critical, as is the humility to admit mistakes and a desire to learn from others.
- Team building and integrity: the ideal candidate will have a demonstrated track record of effective teamwork either within or outside of the financial services industry.
Additionally, we are seeking candidates who display the following characteristics:
- 1-2 years of fundamental research, private equity or investment banking experience would be preferable, but not required;
- Self-awareness and self-confidence to be comfortable ‘being wrong’;
- Strong work ethic and attention to detail;
- Ability to perform in a collaborative, results-oriented environment
- Demonstrated interest in and passion for investing and strong desire to analyze investment opportunities
- Intellectually curious and mentally flexible, strong growth mindset, focused on continuous improvement, willingness and ability to take risk, strong learning orientation and willingness to try new things, and brings a broad, differentiated perspective
- Analytical and problem-solving skills: must be able to synthesize disparate information, identify the most important elements, and arrive at a conclusion
- Aptitude for building investment science skill sets. While no previous technical skills are needed, we are looking for individuals that are willing to learn and have an interest in the intersection of science and investing
- Other important qualifications include strong academic credentials (preferred 3.5 GPA or greater), consistent track record of achievement, strategic thinking, initiative, humility, and the ability to learn from and collaborate with colleagues. We will consider willing MBAs and PhDs for this role but these are not requirements.
THE EARLY CAREER INVESTOR DEVELOPMENT PROGRAM
The goal of the Program is to support the firm’s mission of superior investment performance. Additionally, we endeavor to develop and identify exceptional Early Career Investors (ECIs) to build our pipeline of talented investors. Program participants will play a critical role in assisting experienced analysts and portfolio managers in conducting credit, equity, ESG or thematic research and implementing their investment process.
- This is a 3–5-year growth opportunity, with the ability to join a team as platform needs arise and when an ECI has demonstrated readiness. The size of the Program is intentionally kept small to ensure participants receive personalized attention. There is a competitive and rigorous interview process for each applicant.
- An ECI’s career path during and after this period is based upon individual skill, fit and interests. Some ECIs pursue graduate studies upon completion of the Program.
- In the first couple of years in the role, ECIs will be assigned to a team for the duration of the program or depending on the role, potentially have the opportunity to rotate across Research Associate roles on the Investment Platform (Investment Research, Investment Boutiques, Investment Strategy and Investment Science groups). Typically, rotations are approximately 12-24 months in length. The duration, nature, and number of rotations will vary considerably based on investor needs, fit, and the participants’ skills and interests.
- Examples of the nature of the work in the Program include:
- Analyzing potential investment opportunities
- Building and maintaining company financial spreadsheets
- Modeling sophisticated financial instruments
- Completing complex analytical projects
- Researching macroeconomic themes
- Interpreting company announcements
- Attending company meetings & conferences
- Developing & communicating investment ideas in spoken & written form
- The ECI program is global, with hires domiciled out of Boston. Opportunities (both short and longer term in nature) may be available between our global office locations. Interested candidates should have geographic flexibility. Depending on needs, each office may have independent recruiting needs.
TRAINING AND DEVELOPMENT OPPORTUNITIES
The Program affords a unique opportunity for those individuals who are passionate about and are seeking to embark on a career in investment research and investing. , For those new to the role, there is Boston-based in-house training curriculum focused on developing accounting, financial statement analysis, and financial modeling skills, as well as providing broad exposure to the investors and investment landscape at WMC. These sessions typically take place July-September annually.
Supplemental training and career coaching will be provided on a continuous basis throughout each participant’s tenure with the Program along with mentorship from experienced investors and peers. In addition, participants will be required to pursue the CFA exam to further their financial acumen.