Credit Analyst - Emerging Markets
- GBP70000 - GBP75000 per annum
- London, England, United Kingdom London England GB
- Temporary, Full time
- Michael Page
- 23 Apr 18 2018-04-23
The Credit Analyst is required to carry out fundamental credit and relative value analysis across corporates, quasi-sovereigns and financial institutions to assist investment teams. The person is required to analyse issuers within the investable universe and provide conclusions consistent with investment mandates, risk control parameters, investment guidelines, regulatory policy and formal policies and procedures.
We are a leading global asset management business with capabilities across a wide range of asset classes and specialist investment sectors.
The Credit Analyst is needed to monitor credits and provide timely and continuous high quality information to the investment teams. The Analyst will recommend purchases and sales of corporate bonds which add performance and will assess new issues in the primary market.
The individual will analyse the business and financial risk profiles of EM corporates, quasi-sovereigns and financial institutions and document these risk profiles in summarised form to meet the needs of the investment team. Regions of coverage will include CEEMEA as well as Mexico, Brazil.
The Credit Analyst will need to form fundamental credit conclusions and make recommendations based on elements including credit quality, credit and ratings trends, peer comparisons, ESG and financial metrics, using the team's analysis framework and systems. Continuous monitoring of credits under coverage will also be carried out, including analysis of quarterly results, corporate releases and news flow. The Credit Analyst will undertake timely analysis and communicate any material changes in credit profile to the investment team based on perceived priorities.
The Credit Analyst will use Bloomberg, S&P Capital IQ, ESG research providers, Excel models developed by the investment team or any other tools for analysis and used as part of the research process. The Credit Analyst will provide support for other EM debt team members and maintain and monitor Excel based scorecards which summarise credit views for bonds covered across the investment universe.
The Credit Analyst will attend new deal roadshows, issuer management meetings, investor conferences and travel as needed to emerging market countries to meet with local analysts and issuers. The Credit Analyst will liaise with any of sell side analysts, sales coverage, traders, ratings agencies or issuer management to facilitate fundamental credit analysis.
Relative Value Analysis
The Credit Analyst will require or need to develop relative value analysis skills to enable rounded recommendations encompassing both credit and relative value. These skills will be applied to generate investment recommendations across both primary and secondary markets. Recommendations are expected to result in outperformance of reference indices and peers.
The Analyst will have a dotted reporting line to the Head of Credit Research and will demonstrate integration with the global credit analyst team. The Analyst will cover certain credits for the Sydney global credit teams and contribute to ION coverage for the Louisville team. The Analyst will:
- act as the representative for EM Debt in the global credit research effort and assist the Head of Credit Research where needed;
- adopt base research requirements to be set globally and use of ION;
- migrate EM credit research to the standardised credit research platform; and
- participate in information or experience sharing to foster a collaborative environment. Team Assistance The Analyst will attend team meetings where applicable to communicate investment ideas and actively contribute to the team's discussion of credit considerations. The Credit Analyst will operate within the parameters of the FSI's Global Emerging Markets Debt Investment procedures to assist investment performance and risk management for FSI's Global Emerging Markets Debt products. The Credit Analyst will seek to develop a relationship with other FSI analysts and credit personnel located outside London. The Credit Analyst will undertake additional or other duties as requested.
- Investment Analysis
Investigation of key credit metrics;
- Produce timely research material to substantiate investment views and completion of scorecards and conclusions;
- Undertake country visits where required and analyst meetings;
- Work closely with the team's portfolio managers and analysts to ensure full coverage of appropriate developments in key holdings;
- Attend team meetings where applicable to communicate investment ideas and actively contribute to the team's discussion of credit considerations;
- Work closely with the team's portfolio managers and recommend investment ideas as appropriate; Risk Control
- Operate within the parameters of the FSI's Global Emerging Markets Debt Investment procedures
The person will:
- Be able to achieve competence in accordance with the FCA's Training & Competence regime;
- Be able to work in the UK, e.g. fall within the European Economic Union, hold the necessary work permits or have the right of abode, evidence of which must be supplied;
- Have an understanding of the funds management business, with a competitive desire to out-perform reference indices and competitors and to help grow funds under management;
- Hold a high degree of integrity and level of confidence and professionalism in all dealings with internal and external stakeholders;
- Be able to present views with conviction;
- Be a proactive and self-motivated, with an ability to work with minimal supervision and take initiative to challenge the status quo;
- Be numerate, and able to interpret complex data, be proficient in the use of Microsoft Office and Bloomberg and work with spreadsheets and other analytical tools;
- Be able to communicate effectively and quickly, both orally and in written form;
- Have a strong attention to detail and a high level of accuracy;
- Be flexible and adaptable; and
- Be strongly team oriented
6 Month FTC