Credit Analyst. Covered Bonds - Analyst or Senior Analyst level - London
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The Covered Bonds team is seeking an Analyst to be based in London. The role is open at Analyst or Senior Analyst level, depending on experience.
Fitch Ratings provides credit opinions, ratings, research and commentary to global capital markets. Analysts at Fitch combine rigorous quantitative work with judgement, debate and collaboration to deliver transparent, timely analysis to market participants.
Learn more about a career as a credit analyst at Fitch Ratings: https://careers.fitch.group/content/Credit-Analysts/
About The Covered Bonds Team
Fitch’s Covered Bonds team maintains existing ratings and assigns new ratings to covered bond programmes. Covered bonds are debt obligations issued by financial institutions and backed by a cover pool of assets, predominantly residential mortgage loans, but also commercial, auto-lease or public sector loans.
The team maintains ratings on more than 100 programmes across 19 countries in Europe, North America and Asia-Pacific, representing over EUR800bn of outstanding covered bonds. We work closely with Financial Institutions and Structured Finance rating teams to ensure a consistent approach, while applying our own covered bonds criteria to analyse dual-recourse instruments.
Covered bond analysts are based across several locations, mainly in continental Europe. The London team focuses primarily on covered bonds from the UK and Switzerland.
What We Offer
- A varied role which includes issuer interaction, quantitative analysis, presenting and participating in rating committees, writing rating reports and contributing to research
- A small, high-impact team within a broader European and global group
- The opportunity to build technical expertise across jurisdictions, particularly European mortgage markets
- A collaborative, inclusive culture that values curiosity, debate and high analytical standards
- A structured training programme giving you the knowledge and skills to rate covered bond programmes
We’ll Count On You To
- Perform analysis of new and existing covered bonds including collecting and analysing portfolio data, cash flow modelling, review of legal documentation and analysis of the financial structure.
- Monitor and conduct ongoing surveillance of rated programmes
- Engage with external parties involved in the rating process, including management meetings with issuers
What You Need
- 2+ years’ professional experience in banking, finance or audit; ideally with exposure to credit analysis of securitisation transactions and/or covered bonds
- Numeracy and computer proficiency is a pre-requisite, including use of Excel and application of modelling skills
- Master’s degree or equivalent with a specialty in Finance, Economics, Accounting, Maths or Statistical Sciences. Applications from individuals with additional relevant experience in lieu of a Master’s degree are welcome.
- Strong written and verbal communication skills
What Would Make You Stand Out
- Strong analytical and problem-solving skills
- Ability to form and communicate concise, well-supported views (written and verbal)
- Prior professional experience in credit analysis.
- Curiosity to solve complex problems using creativity and collaboration.
- Multicultural experience is a plus, such as time spent studying or working abroad
Why Choose Fitch
- Hybrid Working : 3 days per week in the office
- Learning & mobility: dedicated training, leadership development and mentorship programmes designed to ensure that your time at Fitch will be a continuous learning opportunity
- Investing in Your Future: Retirement planning and tuition reimbursement programmes that empower you to achieve your short and long-term goals
- Health & Wellbeing : Comprehensive healthcare offerings that enable physical, mental, financial, social, and occupational wellbeing
- Supportive Parenting Policies : Family-friendly policies, including a generous global parental leave plan, designed to help you balance career and family life effectively
- Inclusive workplace: A collaborative work environment where all voices are valued, with Employee Resource Groups that unite and empower our colleagues around the globe
- Giving Back: Paid volunteer days, matched funding for donations and ample opportunities to volunteer in your community
About Fitch Ratings
As one of the world’s top three credit ratings agencies, Fitch Ratings plays a critical role in global capital markets by providing supplementary credit analysis, ratings, research, and commentary to financial market participants. For over 100 years, Fitch Ratings has been creating value for global markets through its rigorous analysis and deep expertise, which have resulted in a variety of market leading tools, methodologies, indices, research, and analytical products. Fitch Ratings is part of Fitch Group, a global leader in financial information services with operations in more than 30 countries, which also includes Fitch Solutions. With dual headquarters in London and New York, Fitch Group is owned by Hearst.
At Fitch Ratings, credit analysts play a pivotal role in moving markets, as quality credit analysis is the lifeblood of our organization. With a legacy of over a century, our unique approach to credit ratings offers unmatched opportunities for professional growth. Embracing a “challenger mindset,” you'll join a team dedicated to innovating service to issuers and investors. Our people-driven analysis thrives on collaboration across all levels and locations, surpassing traditional financial modeling. Lastly, as part of our global community, you'll find inspiration, challenge, and support, with ample opportunities for visibility and influence in the global financial marketplace.
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 interest 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 proud to be an Equal Opportunity and Affirmative Action Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability , protected veteran status, and other statuses protected by law.