The Fitch Ratings EMEA Structured Finance (SF) team maintains existing ratings and assigns ratings to new structured finance transactions. Our experienced team of around 120 analysts provide timely and transparent coverage of the rated securities and the asset markets they rely upon.
The team monitors over 1,100 transactions, split across four main asset classes: Asset Backed Securities (ABS), Residential Mortgage Backed Securities (RMBS), Commercial Mortgage Backed Securities (CMBS) and Structured Credit (SC). In addition to the London office, the EMEA SF team is supported with offices in Paris, Frankfurt, Madrid and Milan among other cities.
The underlying assets are from a diverse range of sectors including lending to consumers, housing, SMEs, high yield corporates and commercial real estate. The clarity of our analytical thinking is highly valued by the investor community and we use reports, meetings, videos and presentations to disseminate our transaction-specific and sector-wide messages.
The successful candidate will be part of a team of analysts rating all types of Spanish, Portuguese and Greek products mainly RMBS, ABS and SME loans securitisations. The candidate will also be actively involved in the surveillance or monitoring of our inventory of ratings across the different asset classes. The candidate could also get involved in the analysis of Spanish covered bonds. The role encompasses:
- Analysing transactions to provide high quality credit opinions to investors and other market participants
- Implementing appropriate default and cash flow modelling
- Scrutinizing transaction legal documents to ensure compliance with Fitch criteria and models
- On-site review of underwriting and servicing of transaction originators
- Preparing rating proposals for presentation to internal rating committees
- Communicating rating rationale to investors and other market participants through presale reports and presentations and meetings
- Working with transaction arrangers and originators to understand assets characteristics and structural features of the transactions
- Assist in development of research and criteria
- Participation in internal training seminars and gaining knowledge of rating all structured finance asset classes
Qualifications and experience:
The ideal candidate will possess the following attributes/experience:
- Previous experience working in the financial markets, preferably with fixed income instruments including structured finance and covered bond products
- An understanding of economic and financial principles influencing structured finance and covered bonds
- Proven track record of producing high quality content such as research reports for internal or external users
- Highly numerate and analytical, with advanced Excel skills
- Excellent written and verbal communication skills in English and Spanish. Knowledge of Portuguese and Greek languages would be an advantage
- Ability to assimilate and organise information to construct logical messages
- Ability to work to strict deadlines and be able to manage a mix of short- and longer-term timetables
- Highly motivated and self-disciplined