Latam Utilities Research — Associate

JPM Chase is ranked the #1 research house globally, recognized by its excellence and our global research platform offers cross-regions and cross-sectors collaborations with experienced local expertise across a wide range of coverages. Within JPM Chase, the research team provides valuable ideas and support to deal-making businesses.

Utilities is a core infrastructure sector across Latin America, with high investor relevance and frequent catalysts driven by regulation, tariffs, and capital allocation. As coverage expands across Brazil and the broader region, we have the opportunity to deepen our franchise through differentiated analysis, disciplined modeling, and high-impact client engagement.

As an Associate in the Latam Utilities Research team, you will support coverage of listed Utilities companies with a strong focus on Brazil, partnering closely with senior analysts to deliver actionable investment insights, maintain sector/company financial models, and contribute to client interactions and transaction-related support.

Job Responsibilities

• Maintain and enhance company and sector financial models, incorporating regulatory frameworks, tariff mechanisms, and scenario analysis
• Analyze earnings, operational updates, and regulatory developments; translate complex information into clear investment implications
• Produce high-quality written research (company notes, thematic pieces, valuation updates, sector dashboards) with strong attention to detail
• Perform relative valuation and peer analysis; develop and refine investment theses and key debates for the sector
• Track sector data (market, operational, and regulatory) and build repeatable processes to improve coverage efficiency
• Partner with internal stakeholders to support client engagement and deal-related activity (e.g., marketing materials, diligence support, and Q&A)
• Participate in client and company interactions, including calls, meetings, and corporate access, and help prepare senior team members
• Contribute to a culture of continuous improvement—identify new ways to automate, standardize, and elevate day-to-day research workflows

Required Qualifications, Capabilities, and Skills

• Self-motivated, collaborative, curious, diligent, and well-organized; able to manage multiple priorities under deadlines
• Strong interest in capital markets with a solid foundation in accounting and corporate finance
• Demonstrated strength in financial modeling (Excel-based forecasting, valuation, scenario/sensitivity analysis)
• Quantitative mindset: ability to work with large/complex datasets and convert findings into investment-relevant insights
• Strong written and verbal communication skills; ability to present clearly to colleagues, clients, and senior stakeholders
• Fluent English (written and spoken)

Preferred Qualifications, Capabilities, and Skills

• Prior exposure to Utilities, infrastructure, or other regulated sectors.
• Familiarity with Brazil/Lat Am regulatory environments and comfort translating regulation into financial impacts
• Proficiency with market and data tools (e.g., Bloomberg/Fact Set) and presentation materials (PowerPoint)
• Spanish fluency.