Position Summary
TCW’s Summer Intern Program allows students the opportunity to gain first-hand knowledge of the asset management industry. While working at TCW they will connect and network with colleagues in various departments to develop, nurture and achieve their career goals. Undergraduate and graduate students are selected each winter with the prospect of rounding out the knowledge gained through their school courses within the industry’s core groups, such as Fixed Income, Emerging Markets, Equity Research, Relative Value, Direct Lending, and Investment Operations. Students also have the opportunity to work in departments throughout the firm that supplement the others such as Information Technology, Investment Compliance, Portfolio Analytics, or Compliance/Legal.
Throughout the 8-10 week internship, interns will work on various tasks and projects, attend classes to learn about the asset management business. Several of the Portfolio Managers and Analysts host presentations for the interns to give them a broader understanding of the work performed by our investment groups. In addition to expanding our interns industry knowledge and skills, we also provide them with numerous opportunities to network with their fellow interns, colleagues and engage with the community through organized events throughout the internship program.
Interns work closely with their supervisors to ensure they are receiving proper attention to their work product and have someone accessible if they have questions, or need assistance. In addition to receiving ongoing feedback throughout the summer, interns receive a performance evaluation, noting strengths and areas for development. Upon completion in August, the interns will have gained in-depth knowledge of one group’s responsibilities, a broad understanding of the work performed by the rest of the firm, and a number of friends to support them through their careers.
Essential Duties
For the Summer 2023 program, we are seeking several interns in our investment groups. The interns will work alongside senior analysts on the team and work on assigned research projects and/or daily tasks for the summer. Interns are expected to fulfill expectations set for them during the summer and attend scheduled events and activities as part of the summer program.
Required Qualifications
Emerging Markets Corporate Credit Intern (MBA)
Position Summary
- For summer 2023, we have an intern opening this summer to assist the Emerging Markets Corporate Credit team in Los Angeles. This will be an 8-week internship. The intern will be assigned to build and update financial models based on earnings releases, management interviews, and independent research. The intern’s responsibilities include building relationships with senior management of EM companies and analysts from the sell-side and rating agencies. The incumbent will be expected to create and present research reports with investment recommendations to analysts and portfolio managers.
Qualifications
- We are seeking a first-year MBA candidate with strong analytical skills, experience in conducting research, and excellent communications skills. Solid skills in MS Excel required and familiarity with Bloomberg preferred.
Sustainable Investment Intern (MBA)
Position Summary
The Sustainable Investment Group oversees TCW’s sustainable investment framework and product line-up that spans equities; sovereign, corporate, and securitized bonds; commodities and private assets. Approximately $34 billion of the assets under management is invested in accordance to one or more sustainability objectives across dedicated funds and separate accounts and the Group supports integration of sustainability into fundamental research across all other strategies. The Group’s work covers fundamental research, quantitative analysis, product strategy, thought leadership and corporate sustainability. Depending on the background and interests of the particular candidate, a portfolio of appropriate projects will be developed that supports the team in areas of need and provides exposure to the candidate across both the breadth and depth of the Group’s work.
We are seeking a MA/MS/ABD intern in our Los Angeles or New York office to work on sustainable
investing related projects and tasks. This intern will directly report to the Co-Heads of the Sustainable Investment Group.
The main responsibilities of the intern may include one or more of the following tasks:
- Assist the Sustainable Investment Group (SIG) in the development, maintenance and evaluation of TCW’s proprietary sustainable investing framework in one or more asset classes
- Work with members of the SIG to identify, test and organize new sources of sustainability related data – disclosed information, statistical sources, news and sentiment, geospatial, and other alternative sources (e.g. IoT) etc.
- Develop investment ideas, thesis in the assigned asset class/sector and brief them to the investment teams and portfolio managers.
- Support research analysts in engagement and stewardship activities with corporates, sovereigns and – conduct background research, prepare notes, develop ideas.
- Monitor and research current developments in Sustainable Investment, including developments across the SIG’s sector coverage areas, and provide decision-useful insights to the respective sector analyst
- Participate in authoring the SIG’s flagship communications (e.g. monthly thought leadership piece, weekly newsletter, engagement notes, etc.)
- Join research calls with leading investment banks, index providers, and industry associations, and provide write-ups for the team
- Quantitative products (e.g. algorithms, analytics) may be part of the internship deliverables, depending on skill-set and interest
Qualifications
- Currently enrolled in a Master’s Degree program majoring in business, economics, policy analysis, international affairs, environmental studies, geography, data science, and statistics.
- Knowledge of topics in sustainability, climate, impact, governance and their application to investment
- Technical skills including an understanding of statistical analysis and use of relevant program tools (e.g. R, Python, Stata), and visualization (PowerBI, Tableau) are helpful in general, but required if the candidate is interested in working with the quantitative research team
- Familiarity with investment analysis and valuation is helpful but not required
- Familiarity of financial and sustainability data sources is helpful but not required
Credit Research Intern (MBA)
Position Summary
For summer 2023 in our downtown Los Angeles office, we have an internship position within our Credit Research team in the Fixed Income Group. The intern will work under the guidance of the senior analysts on the team and will be assigned to complete various tasks that include:
- Monitoring industry and specific credits & providing fundamental research analysis
- Evaluating new issue
- Formulating / communicating investment ideas
- Supporting the team with projects
- Preparing and presenting a Credit Pitch as a final project
Qualifications
- 1 st year MBA candidates with strong accounting, analytical and research skills
- Excellent communication skills and strong work ethics
- Desire to learn and intellectual curiosity
- Interest in pursuing a career in investment management
Estimated Compensation