Credit Analyst - RMBS - Analyst/Senior Analyst level - London
Location: London, United Kingdom
Type: Full Time
Internal Number: 13341510
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Fitch Ratings is a leading provider of credit ratings, commentary and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective and insights we provide have helped fund a century of growth and enables you to make important credit judgments with confidence.
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 high quality 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.
Based in London, you will mainly focus on monitoring the performance of existing European RMBS, as well as rating new transactions. Dependent on need, you may also have the opportunity to participate in rating activity in other asset classes within European Structured Finance.
This will involve collecting and analysing portfolio data, the review of legal documentation and analysis of the transaction structure as well as communication with counterparties.
Within this position you will conduct an in-depth quantitative credit risk analysis of the portfolio assets. Additionally, you will consider the individual transaction priority of payments, 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. You will also review all relevant laws and regulations, legal opinions and transaction documentation.
You will be expected to write credit analysis reports and press releases on rated structured finance transactions as well as research reports and conduct analysis on industry related topics. In addition, you may participate in criteria development across products and regions.
You will possess a sound academic track record with at least university degree level or equivalent. A specialty in Finance, Economics, Accounting, Maths or Statistical Sciences is desirable but not essential. You will demonstrate a few years of prior relevant professional experience. Direct experience in credit analysis, the banking industry, the securitisation market, risk management, or the mortgage industry is beneficial but not essential.
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 desirable but not essential.
The successful candidate will be enrolled in the Fitch Credit Academy, Fitch's in-house training and assessment program to support the professional development of analytical staff.
Fitch Group is a global leader in financial information services with operations in more than 30 countries. Wholly owned by the Hearst Corporation, we are comprised of three main businesses: Fitch Ratings | Fitch Solutions | Fitch Learning.
For more information please visit our websites: www.fitchratings.com | www.fitchsolutions.com | www.fitchlearning.com
Fitch is committed to providing global securities markets with objective, timely, independent and forward-looking credit opinions. To protect Fitch's credibility and reputation, our employees must take every precaution to avoid conflicts of interests or any appearance of a conflict of interest. Should you be successful in the recruitment process at Fitch Ratings you will be asked to declare any securities holdings and other potential conflicts prior to commencing employment. If you, or your immediate family, have any holdings that may conflict with your work responsibilities, you may be asked to divest yourself of them before beginning work.
Fitch is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected veteran status, sexual orientation, gender expression, gender identity or any other characteristic protected by law.