Research Analyst Fixed Income and FX Strategies at Rand Merchant Bank

Job Description

• The purpose of the Fixed Income (FI) and Fx Strategist is to analyse government fixed-income securities (e.g. fixed-rate bonds, inflation-linked bonds), interest rate derivatives and develop a holistic view on the fixed income market by performing independent, high-quality research, including fundamental thematic research of developments that pertain to FI in South Africa, its peers and Emerging Markets in general.
• The role of FI Strategist is to make trade recommendations regarding possible investment strategies within these asset classes to institutional investors and build, develop and maintain quantitative models and strategies across FI markets to quantify risk/return profiles within the asset class.

 Responsibilities 

• Generate FI short-term and long-term forecasts for clients, the business, and contribute into the FirstRand Macro Forum process as required through the analysts meetings.
• Develop a strong understanding of FI markets, and quantitative frameworks of how the local fixed income market’s risk /return profiles compare with other emerging markets and global asset classes such as equities and listed property.
• Develop approaches and partner with frontline/front office client engagement stakeholders to market the research to internal and external stakeholders at all levels, with a strong focus on institutional investors.
• Assess the value and analyze the risks involved in fixed-income securities including bonds and other financial products and give insights.
• Research and evaluate market conditions and analyze trends to guide investors on the most significant risk factors, including interest rate risk and produce insights.
• Review existing procedures and processes, build computer functions, and write macros to increase and enhance report effectiveness, ensuring accurate, reliable, and with minimum risk or human data error.
• Provide insights to institutional clients and senior management as appropriate.
• Act as FI spokesperson for the research function in client update meetings and internal committees.
• Maintain broad knowledge of financial markets, current events, and applicable economies and analyze their impact on industry/sector fundamentals.
• Responsible for conducting research and analysis on the impact of FI markets on economies/industries/sectors.
• Provide detailed recommendations to buy, sell and hold through written and verbal investment opinions to support institutional investors in making informed investment decisions.
• Collaborate closely with a team of portfolio manager, trader, and others to provide timely updates and communicate investments recommendations on your coverage.
• Evaluate and validate lesser experienced analyst recommendations for quality and completeness, ensuring alignment with client investment objectives.
• Monitor industry and competitive environment through research of market intelligence and insights to proactively identify new opportunities, trends, emerging issues, or threats.
• Undertake regular roadshows to both local and off show clients
• Work closely with the rest of the research team to build a cohesive research product across other focus areas and asset classes.

Qualifications

• Minimum of a master’s degree in economics (majoring in Econometrics is advantageous), Mathematics, Statistics or Chartered Financial Analyst certification.

Experience and Skills

• 8 - 12 years’ experience in a similar environment, of which 5 years at senior specialist level in financial services or corporate banking
• At least 5 years’ experience as research strategist in a Global Markets environment or as an analyst on the buy side with a solid track record of analysing government fixed-income securities (e.g., fixed-rate bonds, inflation-linked bonds), interest rate derivatives while at the same time making recommendations regarding possible investment strategies within this asset class.
• Experience of the South African economy and previous research of the South African fixed income, its asset management industry and local financial markets is a requirement.
• A track record of macroeconomic research within an emerging market and South African context is a must. A strong understanding and experience of other global asset classes, such as commodities, would be an advantage.
• A solid track record in quantifying fixed income investment strategies in formal research reports, performing risk/return analysis, valuation of fixed income assets and how these fixed income assets fit into a broader portfolio allocation decision.

Deadline:10th March,2026