Group Credit Officer - Global Insurance
Fitch's Credit Policy Group strengthens Fitch's credit analysis and research, by undertaking timely and in-depth research, challenging the conventional analytical wisdom and coordinating cross-group projects and training.
Credit Policy's efforts are designed to improve Fitch's criteria and credit analysis. The main channels for this are alternative analytical views provided by Regional and Group Credit Officers, publication of research to shape Fitch's views and Fitch's Credit Academy to improve the quality of Fitch's analysts. Each of these efforts is designed to shape and disseminate Fitch's views, and monitor ratings performance.
Overall aims of the Credit Policy Group:
1. Ensure Fitch's ratings are timely and robust
2. Oversee the application of criteria and monitor ratings performance
3. Provide additional perspective by contributing to thought-provoking research
The core objective of the Group Credit Officer (GCO) role is to enhance and improve the quality and consistency of Fitch's ratings and to ensure that they are as prospective as possible. The group performs this role as a support to all of Fitch's product groups and aims to bring the attention of our product groups to new trends and developments in any of the areas in which Fitch rates entities and debt securities. This can be achieved through conventional credit measures such as financial ratios, market data, external research or commentary on credit trends.
We are currently looking for a GCO to oversee the company's Global Insurance Portfolio. The individual will assist in maintaining, monitoring and enhancing credit standards in all sectors and regions. The primary goal of the GCO is promoting timely and prospective ratings, advising on quality criteria development, and influencing consistency and timely research publication. In particular, the role will involve:
- Regular voting participation at credit committees with a focus on criteria application and quality of analysis
- Convening and chairing screening committees to examine new proposals that are unique or esoteric in nature
- Promote analysts adherence to Fitch's policies and procedures throughout the course of their work
- Provide ongoing guidance and advice to rating teams on credit issues that arise, providing leadership in their resolution
- Participating in the criteria development process with a goal of ensuring criteria reflects robust long term data and performance trends, as well as most recent market developments and concerns relevant to credit analysis.
- Liaison with Credit Officers covering other asset classes and Regional Credit Officers in order to identify, discuss and address credit matters and economic issues that may impact multiple sectors
- Ongoing review of internal and external market data and research that provide insight into developing credit trends for follow up
- Regular monitoring of reports on rating and transaction performance to assess and identify developing trends in rating performance
- Facilitating communication across regions to ensure consistency of approach to similar credit issues, including periodic organization and provision of training on credit matters
- Communication of general credit messages internally and occasionally externally to help enhance the quality of credit and ratings, including occasional liaison with key market participants, such as investors, regulators, or other market participants to exchange views and gather information regarding credit matters
- Liaise with Fitch's external regulators, such as ESMA during the course of regulatory examinations as requested by Fitch compliance
- Contribute occasional research on selected credit issues as well as identifying topics for research to maintain a consistent and timely flow of credit research
Qualifications and experience:
The individual will be expected to demonstrate an ability to identify key credit issues and give guidance on such matters and resolve problems, while at the same time providing analytical insight, initiatives and ideas in support of rating analysts.
The ideal candidate will be confident, possess solid relevant experience within credit and demonstrate the ability to challenge and offer solutions. They should be able to articulate their reasoning to analysts and management alike in respect of rating recommendations, criteria proposals and research ideas.
Excellent communication skills - both written and oral - would be an advantage given the need to communicate both internally and occasionally with market participants. A strong understanding of macroeconomic trends with some data management skills would also be an advantage.
The job may involve a modest amount of travel to other Fitch offices for the purposes of training, planning and information exchange with local analysts on current developments.
- Undergraduate Degree.
- Advanced degrees or industry designations such as CFA, CPAs desirable.
- Several years in insurance and/or credit analysis required, for example in an insurer, regulator or consultancy.
- Knowledge of at least one insurance market (e.g. US, European Life or non-Life) is desirable, including familiarity with the main applicable accounting and regulatory standards. Knowledge of an additional insurance market and the ability to compare/contrast approaches is an advantage.
- Excellent verbal and written communication skills.
- Evidence of ability to engage stakeholders in alternative viewpoints in a constructive manner is essential.
- Ability to demonstrate independence of thought.
This role will be based either in the EU or the US.