European Bank Credit Analyst
BlackRock is one of the world’s preeminent asset management firms and a premier provider of global investment management, risk management and advisory services to institutional, intermediary and individual investors around the world. BlackRock offers a range of solutions — from rigorous fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world’s capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares® ETFs.
Business Unit Overview:
BlackRock offers a range of investment products—equity, fixed income, liquidity and alternative investment—each managed by a dedicated investment team of portfolio managers, research analysts and traders. Focused portfolio management and proprietary research are the cornerstones of our investment philosophy, and portfolio construction is based on each team's market outlook.
BlackRock's investment teams are staffed with professionals who have significant experience within their respective markets. Our portfolio teams manage assets for institutional and individual investors alike. Accordingly, all of our clients benefit from our portfolio management expertise and risk management analytics.
All of our portfolio managers leverage the expertise of other investment teams through the strength of a shared research, trading and risk management platform. Our investment professionals benefit from the resources of a world-class firm that continually invests in its business and is differentiated by a team approach and integrated research and risk management.
The Fixed Income team offers an array of fixed income products designed to meet specific client risk and return profiles. Incorporating the expertise of BlackRock's sector specialists, each client portfolio is tailored to reflect specific investment guidelines and objectives with respect to interest rate exposure, sector allocation and credit quality.
Job Purpose/Background:
BlackRock is looking to hire an investment grade credit analyst for the European banking sector, with shared primary responsibility for the coverage of approximately 100-150 banks across Eurozone and Non-Eurozone countries. Working closely together with BlackRock’s lead European bank analyst, the role will involve preparation of independent fundamental credit analysis and opinion using a variety of sources, including financial statements, regulatory policy documents, industry publications, economic statistical data, research conferences and regular meetings with company management. The role also necessitates regular interaction with other banking sector analysts and investment professionals both inside and outside BlackRock. As a member of the high grade investment team, the successful candidate will also have a highly developed awareness of relative value and be responsible, alongside specialist credit investment managers, for underwriting risk positions in banking sector names included in BlackRock’s Credit Lead Portfolio for European Investment Grade Credit. The role also involves continuous credit surveillance of assigned issuers on behalf of fundamental credit, multi-sector and money market portfolio teams within BlackRock.
Key Responsibilities:
- Real-time communication of fundamental credit views and investment recommendations
- Working with the lead analyst as in-house banking experts and fundamental “thought leaders”
- Creation and maintenance of Excel-based financial analysis and projections
- Provision of ad hoc briefing and research to portfolio managers
- Presentation of sector views and opinions both internally and at client meetings
- Participation in a variety of daily, weekly and monthly investment team meetings
Knowledge/Experience:
- Previous junior analyst/associate-level experience in a top-tier credit research environment
- Detailed knowledge of the European banking sector and issuers
- Detailed knowledge of the regulatory framework for European banks at all levels
- Thorough understanding of ratings agency methodology
- Strong corporate credit background (including bond technicals, documentation, CDS)
- Up-to-date Investment Grade relative value knowledge and keen commercial awareness
Skills/Qualifications:
- Excellent written and oral communication skills
- Self-driven desire for expertise, thirst for sector knowledge and keen attention to detail
- Willingness to work in a strong team-oriented environment
- Fluency in English required
- Fluency in a second European language preferred
- Professional qualification in accountancy, commercial banking or CFA preferred
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