Equity Research Associate

Job Description

Research Associate II – Energy | Stifel Financial Corp.

The Tone:
This is a full-time, in-person role at Stifel Financial Corp., a leading financial services firm with a recognized Equity Research Group covering a broad spectrum of industries, including Energy. Stifel is committed to a client- and associate-first culture, where every individual contributes to the overall success of the firm. This Research Associate II role is vital for providing advanced analytical, modeling, and organizational support to senior Research Analysts, directly enabling the firm to deliver objective, in-depth analysis and timely, actionable research ideas within the Energy sector.

The TL;DR
• Role: Early Career (Research Associate II)
• Type: Full-time
• Location: In-person
• Pay: $100000–$150000 yearly
• Team: Reports to senior-level Research Analysts within the Stifel Equity Research Group.
• Mission: To provide advanced analytical, modeling, and organizational support to senior Research Analysts, developing a deep understanding of the assigned Energy sector and clearly defending investment theses for covered stocks.
• Tech Stack: Microsoft Excel, Word, PowerPoint, Outlook, Bloomberg, FactSet.

What You’ll Actually Do
• Financial Modeling: Construct and continuously update detailed Excel-based financial models, encompassing income statements, balance sheets, cash flow statements, and discounted cash flow analysis, along with building and updating comparable company analysis sheets.
• Quantitative Analysis: Formulate mathematical or simulation models of problems, defining relationships between constants, variables, restrictions, objectives, and their numerical parameters, and then rigorously validate, test, and reformulate these models as necessary to ensure adequacy.
• Research & Writing: Develop comprehensive written research products, including in-depth analyses, reports, and investment outlooks, with modest direction from senior Research Analysts, and evaluate various valuation methodologies applicable to covered stocks and the broader sector.
• Client & Sales Support: Clearly articulate and defend the Analyst’s investment thesis and outlook for each stock under coverage, responding to basic inquiries and detailed data requests from institutional sales and external clients.
• Industry Expertise & Networking: Continuously build specialized industry knowledge within the assigned Energy sector, actively developing and integrating insights from external sources such as management teams, suppliers, and customers, and managing an assigned client contact list to meet their information needs.
• Data Management & Projects: Oversee and utilize financial databases and electronic data services like Bloomberg and FactSet, concurrently fulfilling specific project demands from senior Research Analysts by efficiently determining and locating all relevant data resources.
• Travel: Participate in business travel by car and/or air, up to 20% of the time, in conjunction with local, regional, and national research activities and client engagements.

The Must-Haves
• Background: Minimum required Bachelor’s degree, demonstrating foundational knowledge in Economics, Accounting, Finance, and Securities Analysis, including economic principles, financial practices, market dynamics, industry specifics, and the analysis and reporting of financial data.
• Experience: Requires 2 to 4 years of relevant industry experience or proven performance at the Associate I level, showcasing mastery of foundational research skills and an ability to assume significantly more writing and modeling responsibilities.
• Skills: Demonstrated proficiency in Microsoft Excel, Word, PowerPoint, and Outlook. Essential cognitive skills include inductive reasoning for combining information into conclusions, critical thinking for evaluating alternative solutions, sound judgment and decision-making, effective time management, and strong oral and written communication for clear expression of ideas.