RMBS Credit Analyst – London recruitment

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 European RMBS team is responsible for providing ratings for all securities backed by residential mortgage loans.  In addition, the RMBS team is actively involved in publishing top research in relation to both RMBS performance as well as mortgage market fundamentals.  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 London, you will mainly focus on rating new European RMBS. This includes, collecting and analysing 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 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 posses 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, in risk management, or have a background in the mortgage industry.

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.  You will be a good team player as well as being able to work using your own initiative.

It is essential that you are fluent in English.  Other European languages are strongly desirable, particularly Dutch.

Application

To apply please submit a cover letter and most recent CV, including any remuneration details, via the enclosed links. 

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

Company Overview

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.

Since 2008, Fitch Solutions has offered a range of comprehensive data, analytical tools and risk services to fixed-income investors and other market participants. The firm also distributes Fitch Ratings' credit ratings, research and data through a variety of platforms. Product offerings cover research services, risk and performance analytics, structured finance solutions, pricing and valuation services, quantitative analytics and training.

Fitch Ratings and Fitch Solutions, as well as Algorithmics, a leader in enterprise risk management solutions, are part of the Fitch Group. The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France.