IG Credit Analyst (Financials & Corporates)
We are working with a leading international insurance firm that is looking to hire a Credit Analyst (5-10 years' experience) to join their investment team in London. The coverage universe will include an even split between financials and corporates (starting from approx. 15 names each).
This is a newly created expansionary role after continued strong performance of the team and inflows from the parent company.
The selected candidate will be responsible for undertaking independent IG Credit Research across Financials (essential), as well as some corporates, with a primary focus on European (EUR) Credit, as well as some GBP Credit. While there is a strong bias towards IG Credit, the role might also involve occasionally looking at some HY names and the overall coverage universe will initially be around 30 names, with scope to have larger coverage over time.
This Analyst will be supporting portfolios ranging from Buy & Maintain (largest fund) to Active (Total Return), as well as ESG-focused, and there would be a close working relationship with the lead portfolio managers and others on the team.
One of the key selling points of this role is that it is a smaller team, which means very close collaboration with the portfolio managers and ownership of ideas that get implemented in the portfolios. If a name is recommended by the analyst and there is a strong case for the name, then there is a good chance it will be included in the portfolio. The team also has a very friendly and collegial working culture, with a hyrbid workplace.
There will also be the opportunity to get involved in a range of other exciting projects across the team/firm, which is consistently growing in terms of AUM.
Experience and confidence in clearly articulating views on particular issuers and having conviction in those views is also strongly preferred, as there will be times when a decision about a particular issuer needs to be made promptly.
In terms of background, our client is open to considering strong candidates from rating agencies, independent research providers, buy-side, as well as sell-side. Key Responsibilities:
- Undertake independent credit research and analysis based on an established investment framework with primary coverage of issuers from the European Market (EUR), as well as some GBP names (primary market)
- Focus will be on an even mix of financials and corporates
- Utilize quantitative and qualitative framework to assess credit, fundamental and ESG metrics and provide a detailed understanding of all relevant indicators across the sector
- Drive strong investment outcomes through consistent engagement with lead PM
- Evaluate the issuers' environmental, social and governance (ESG) credentials and Sustainable Development Goals (SDGs) alignment
- Assess relative value for the issuers' euro- and, to a lesser extent, sterling-denominated bonds
- Monitor new issuance across senior and hybrid bonds
- Attend meetings/conferences with issuers, brokers and other stakeholders
- Communicate with the firm's lead client (the parent insurance company) and managers on relevant themes (issuers, sector, themes)
- Contribute to monthly reporting of fund performance
- CFA or IMC (or equivalent) strongly preferred
- CFA in ESG Certificate (or similar) also a major plus, however not required
- Relevant buy-side or sell-side industry experience with specific evidence of IG Credit analysis and/or investment ideas that have contributed to superior, risk-adjusted results.
- Mature and proven judgment in analysis and strategic insight with practical experience in applying learnt techniques in a financial market environment.
- Able to develop and build relevant investment tools and to practically apply theoretical and complex techniques.
- Energetic, collaborative, and forward-thinking with the highest ethical and professional standards.
- Analytics, balance sheet analysis
- Skilled problem solver, who can utilize outstanding analytic and decision-making skills
Key Selling Points:
- 5-10 years of experience as a credit analyst or a related position, with a good understanding of the drivers of credit markets as well as bond valuation.
- Experience covering financials (essential), as well as some prior experience looking at corporates (strongly desired)
- Experience in analyzing hybrid and high-yield instruments is a strong plus (but not required)
- Strong academic background in finance, economics and CFA preferably
- Excellent command of MS Office (Excel, Word, and PowerPoint) and Bloomberg
- Outstanding analytical, written and verbal communication skills
- Flexible and adaptable team player
- Expansionary role (the team is doing well and growing)
- Scope to have a very large amount of responsibility, as the role is working as part of a smaller team. This includes ownership of ideas and sitting with the portfolio managers
- Excellent culture and stable capital base
- Long average employee tenure
- Flexibility to work from home a couple of days per week