Associate Director - EMEA Consumer & Healthcare - Frankfurt, Stockholm, Warsaw
Dual-headquartered in New York and London, Fitch Ratings is a leading provider of credit ratings, commentary and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective and insights we provide help investors to make important credit judgments with confidence.
Fitch Ratings, along with Fitch Learning and Fitch Solutions, are part of the Fitch Group, a global leader in financial information services with operations in more than 30 countries. Fitch Group is a wholly-owned subsidiary of New York-based Hearst Corporation. Department overview:
Fitch Ratings ' EMEA Corporate group provides public and private ratings of companies and their debt instruments in Western Europe, CEE, the CIS, Middle East and Africa.
The department employs over 80 credit analysts across Europe. In addition to London, Fitch ' s largest office, the department has analysts on the ground in Moscow, Paris, Frankfurt, Warsaw, Barcelona, Madrid, Stockholm, Milan, Riyadh and Dubai.
The department is split into five sector teams: Utilities and Transport, Natural Resources and Commodities, Consumer and Healthcare, Industrials, and Telecoms, Media and Technology. In addition, a specialist Leveraged Finance team contributes on credits with leveraged capital structures and leads research in that market. Dedicated research analysts supporting cross-sector publications complement the department.
The EMEA Consumer and Healthcare team of 20 analysts covers more than 100 public and private monitored credits in consumer-related sectors, split between three broad segments, namely Fast-Moving Consumer Goods; Retail, Gaming and Lodging, as well as Healthcare and Pharmaceuticals. Eight members of the team are based in London, with other analysts in Paris, Milan, Moscow, Frankfurt, Barcelona and Madrid. Job Description:
As a member of the EMEA Consumer and Healthcare team, you will take lead analytical responsibility on a diversified portfolio of corporate issuers primarily in the retailing, gaming, business services, and potentially healthcare sectors. The portfolio may include both high-yield and investment grade issuers and could involve collaboration with other groups at Fitch including, but not limited to, the Leveraged Finance Team. You will monitor and analyse company news flow and financial results to identify events or trends which may lead to rating changes. You will also conduct meetings with company management (typically at the Head of Treasury, Investor Relations or CFO level).
You will also present to and discuss recommendations for new ratings or rating changes holding internal rating committees as well as communicating Fitch ' s credit opinions externally. You will also be involved with, and initiate, ad-hoc sector commentaries and topical research. The role will also involve some analytical support to business development activities, as well as interaction with issuers, investors and bankers, as well as some, but not an excessive level, of travel, primarily within Europe (this is currently severely limited due to the pandemic). The currently envisaged portfolio comprises a maximum of 15 to 20 credits (including ratings and credit opinions) based in the EU. Language skills - particularly French or German - would be helpful but is not essential.
The successful candidate will report to the head of the Retailing, Gaming and Lodging corporate team based in Paris. Qualifications and experience:
The role would suit an individual with previous analytical experience looking to develop further in an intellectually challenging, analytically rigorous yet supportive environment.
Fitch ' s corporate analysts have diverse backgrounds, including career financial/credit analysts, professional services, or financial/operational roles in companies. Desirable qualities include:
A first rate academic background in a finance-related field. Professional qualifications (e.g. CFA, CA) would be an advantage.
- A strong understanding of, or interest in, the consumer, retailing and healthcare sectors.
- Strong analytical skills evidenced by experience of at least six to eight years in an analytical or similar role.
- A strong team spirit, enabling him/her to work seamlessly with other members of the EMEA Corporates team. A willingness to mentor and develop junior analysts would also be looked upon favourably.
- Solid written and verbal communication skills in English. Other language skills would be advantageous.
- Prior experience in leveraged finance and high-yield will be an advantage.
- Cash-flow modelling and accounting skills
Fitch is an equal opportunity employer that employs people across the full spectrum of society. Fitch works hard to create a workplace with an emphasis on inclusion, innovation and merit. By valuing diversity and equality in our workplace, we believe it adds strength to our business.