Senior Credit Analyst
The Senior Credit Analyst is responsible for the independent credit risk assessment and internal ratings determination for investment grade debt private placements for LGIMA clients. This role will be focused on infrastructure investments but the successful candidate will also gain experience across the credit spectrum including corporate private placements and commercial mortgage loans.
Through the objectivity and reliability of their analysis, the credit analyst supports the origination teams in structuring transactions and evaluating the risk / reward balance. The analyst also contributes to developing and maintaining a robust and consistent internal rating methodology and process.
LGIMA private credit was founded in 2017 and is focused on covering transactions from issuers based in North America and Australia with a focus on both corporate private placements and infrastructure debt investments. It is part of a global team that is comprised of more than 20 investment professionals managing a growing global portfolio of more than $15 billion. The credit analyst will be part of the global credit risk team comprised of 10 credit professionals that work closely with the investment team but that are part of the investment risk team to ensure the independence of their views.
Provide timely and independent analysis and monitoring of the credit risk associated with new and existing transactions utilizing agreed criteria and procedures. This will involve close coordination between the LGIMA Chicago team and the broader credit risk team based in London and includes:
New Credit Risk Assessment (ca. 40%)
- maintain an effective working relationship with origination teams throughout the credit assessment process
- gather information on proposed transactions in collaboration with the origination team, including through the review of counterparty and transaction financials, transaction structure, legal documentation, operating plans, industry analysis, due-diligence reports, meetings with management, meetings with consultants, drawing on internal experts, etc
- form an independent opinion on the creditworthiness of a transaction and associated security based on relevant criteria and in comparison with externally rated transactions
- provide an initial summary and informal feedback to the origination team indicating a range of likely rating outcomes and the key rating drivers for the transaction
- provide clear guidance to the origination team to enhance the credit protections offered by the transaction and to help optimize the transaction structure and documentation to achieve the best possible transaction for LGIM’s customers at the intended rating level
- produce and present a credit report underlying a rating recommendation to the Credit Committee
- vote in the Credit Committee meetings
Credit Risk Review / Portfolio Monitoring (ca. 30%)
- work with origination teams to ensure information flow and on-going monitoring
- complete the annual credit review on assigned portfolio
- consider amendments, waivers requests, etc as required
- conduct ad-hoc reviews in response to asset performance, markets, or security valuation
- assist with the review and recovery strategy formulation for any assets that become vulnerable and/or default
Rating Methodology / Other (ca. 20%)
- contribute proactively to internal rating procedures through suggestions of improvements or best practice
- ensure comparability of internal and external ratings approach through update of internal criteria in response to external evolution
- develop and improve support and control methodologies, templates and working tools
- assist with any internal or external client requirement for information or reviews on an ad-hoc basis
Other (ca. 10%)
- mentor / coach junior staff
- support training of junior team members and other stakeholders as required
- assist with any internal or external client requirements for information or reviews on an ad-hoc basis
- Broad financial and credit analysis experience with at least some focus on infrastructure debt transactions. Additional experience in either corporate debt or commercial mortgage sectors is a plus.
- Successful candidates would typically have at least 8 years of relevant experience for this role.
- Ability to grasp trends at both macro and micro levels and to appreciate the relationship between them
- Experience at rating agencies or in a private credit environment would be beneficial.
- Experience conducting due diligence and working with corporate management teams.
- Articulate with the ability to communicate concisely and clearly
- Lateral thinker; rigorous, yet creative
- Team player
- Keen eye for detail and a professional approach to all tasks.
As an EOE employer, Legal & General Investment Management America will extend equal opportunity to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, gender identity, ancestry, national origin, age, disability, medical condition, genetic information, marital status, pregnancy, military status, and/or any other characteristic protected under applicable federal, state or local laws governing nondiscrimination in employment.(2020)