Analyst – Structured Finance recruitment
Dual-headquartered in New York and London with 50 offices worldwide, Fitch Ratings is a global rating agency dedicated to providing value beyond the rating through independent and prospective credit opinions, research and data. Offering a world of knowledge and experience behind every opinion, we transform information to deliver meaning and utility to investors, issuers and other market participants. Fitch Ratings’ global expertise draws on local market knowledge and spans across the fixed-income universe. The additional context, perspective and insights we provide help investors make important credit judgments with confidence.
Fitch Solutions is committed to delivering value beyond the rating by providing a range of fixed-income products and professional development services to the global financial community. In addition to offering proprietary content, the firm also distributes the ratings, research, financial data and analytical tools of Fitch Ratings. With innovation and experience behind every product and service, Fitch Solutions' flexible offerings are designed to meet the diverse needs of the credit markets. Fitch Ratings and Fitch Solutions are part of the Fitch Group, a jointly-owned subsidiary of Fimalac, S.A. and Hearst Corporation.
Department Overview:
Fitch’s European Structured Finance team maintains existing ratings and assigns ratings to new structured finance transactions. Fitch currently rates Structured Finance transactions across four main asset classes: Asset Backed Securities, Residential Mortgage Backed Securities, Commercial Mortgage Backed Securities and Structured Credit.
Fitch Ratings maintains surveillance on over 1,500 European structured finance transactions.
The Paris team is responsible for providing ratings for Structured Finance transactions across all asset classes, mainly focusing on French and Belgium jurisdictions. In addition, the Paris team is actively involved in publishing top research in relation to asset performance as well as market fundamentals in France and Belgium. The team places a high priority on the quality of its analysis, transparency of its research and its responsiveness to market participants.
Job description:
Based in Paris, you will focus on the rating of various French and Belgian securitisation transactions, covering all asset classes. This includes,
- collecting and analysing each underlying asset industry and originator’s historical performance and portfolio data, the review of legal documentation and analysis of the transaction structure as well as communication with counterparties.
- You will be expected to write credit analysis reports and press releases on rated structured finance transactions as well as research reports on industry related topics.
- In addition, you will participate in criteria developments across products and regions.
- Within this position you will conduct an in-depth quantitative credit risk analysis of the portfolio assets.
- Additionally, you will consider the individual transaction waterfall, as well as interest rate and/or currency mismatches between the portfolio assets and the structured finance bonds as part of cash flow modelling of the transaction structure.
- You will conduct qualitative assessments of the operational risks based on on-site reviews at the issuers.
- Furthermore, you will review all relevant laws and regulations, legal opinions and relevant documentation.
Person Specification:
- You will possess a sound academic track record with at least university degree level or equivalent with a specialty in Finance, Economics, Accounting, Maths or Statistical Sciences.
- You will demonstrate prior professional experience in credit analysis within the banking industry, ideally in the securitisation market.
- Due to the nature of the role, numeracy and computer proficiency is a pre-requisite, including use of Excel functions and application of modelling skills.
- You must be able to demonstrate strong analytical and problem solving skills.
- You should have strong written and verbal communication skills and ability to formulate and deliver concise opinion, facts and arguments both verbally and in writing.
- It is essential that you are fluent in English.
Application:
To apply please submit a cover letter and most recent CV, including any remuneration details to fitchparisrecruiting@fitchratings.com.
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.