Covered Bonds Analyst, Associate Director/Director
Fitch's covered bonds team maintains existing ratings and assigns ratings to new covered bonds issued on behalf of financial institutions in Europe as well as in Northern America and Asia Pacific. Fitch currently rates covered bonds rating for above 120 programmes from 20 countries around the world.
Based in London or in Milan, you will focus on the preparation and the presentation to internal rating committees of key rationales for rated covered bond programmes issued out of European countries.
Job Description:
You will be expected to write credit analysis reports and press releases on rated covered bonds when appropriate based upon your understanding of the legal framework for the covered bonds issuance as well as the underlying cover assets.
For this role, you will conduct an in-depth quantitative credit risk analysis of the cover pool assets, consisting mainly in mortgage loans or public sector debt. Additionally you will consider the maturity, interest rate and/or currency mismatches between the cover pool assets and the covered bonds. 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 other documentation. Finally, you will be responsible for the maintenance of up-to-date information on dedicated databases.
Due to the coverage of this position some European travel can be expected.
Person Specification:
You will posses a sound academic track record to at least first university degree level preferably with a specialty in finance or statistical sciences. You will demonstrate some professional experience within the covered bonds market, in the credit analysis of financial institutions or have a background in securitisation, such as in RMBS, CMBS or CDO.
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. It is essential that you have excellent written and oral communication skills both in English and in French. Fluency in other European languages is advantageous.
Further postgraduate study will be positively considered. Multicultural experience is a plus, such as time spent studying or working abroad.
Application:
To apply please submit a cover letter and most recent CV including remuneration details to Luana.Strippoli@fitchratings.com
Fitch complies with all laws governing employment in each jurisdiction in which it operates, and provides equal opportunity to all applicants and employees. All applications will be considered without regard to race, color, religion, gender, national origin, age, disability, marital or veteran status, sexual orientation, and other status protected by applicable laws.
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