Emerging Markets Sovereign Credit Analyst

AXA; Puteaux; Sur place; EUR 50 000 - 80 000; Plein temps

Résumé du poste

A leading company in the investment and asset management sector seeks an EM Sovereign Credit Analyst. This role encompasses assessing the creditworthiness of emerging market sovereigns, conducting in-depth credit assessments, and producing surveillance notes. The ideal candidate will possess strong skills in financial analysis and credit research, contributing to AXA's investment decisions on a global scale.

Responsabilités

• Perform fundamental credit analysis of issuers.
• Monitor credit profiles focusing on rating migration risk.
• Write in-depth Credit Assessment reports with internal credit ratings.

Connaissances

Financial Statement Preparation

Credit Analysis

Cash Flow Analysis

Math

Banking

Analysis Skills

UCC Law

Underwriting

Financial Analysis

Financial Modeling

Financial Report Interpretation

Word Processing

Description du poste

Within the Group, you will join the Group Investment & Asset Liability Management (GIA) department. GIA consolidates local investment decisions leveraging financial expertise across the Group and guides investment ideas. The team collaborates closely with AXA's worldwide investment teams and top-tier investment managers, including AXA IM, to deploy capital across various asset classes. GIA oversees over EUR600bn of Assets Under Management (AuM) and is organized into four teams (approximately 50 professionals) under the leadership of the Group Chief Investment Officer (Group CIO).

Within the department, you'll join the EM Sovereign Research team and report to the CIO IMA.

The research coverage involves periodic (12 to 18 months) in-depth credit assessments leading to an Internal Credit Rating and an Investment Eligibility proposal, which is presented to an internal credit committee for validation. It also includes ongoing monitoring of newsflow, drafting surveillance notes for material events, and proposing ad hoc credit reviews to suggest changes in rating or eligibility status.

AXA has developed an internal sovereign methodology to assess the creditworthiness of EM Sovereigns, which also incorporates the assessment of E/S/G issues' credit materiality.

This position is based in Madrid or Paris.

Your job and daily missions:

JOB PURPOSE

Your mission is to assess the creditworthiness of EM Sovereigns and propose Internal Credit Ratings for a set of EM Sovereigns relevant to AXA Group's investment portfolio.

You will also provide ad hoc research analyses related to EM Sovereign Credit Research when relevant, and contribute to the EM Sovereign Comprehensive Review, the team’s annual review of all covered EM Sovereigns.

CONTEXT AND MAJOR CHALLENGES

To fulfill this role, you will be responsible for covering a set of EM issuers relevant to AXA Group's credit portfolio:

• Perform fundamental credit analysis of issuers under your coverage
• Monitor the credit profile of your issuers, focusing on rating migration risk
• Maintain a critical view based on multiple information sources, including discussions with asset managers, meetings or calls with issuers and market participants, and rating agencies
• Address challenges posed by lower data transparency and access for EM issuers, providing fair and balanced credit assessments
• Understand potential evolution factors affecting creditworthiness under various scenarios, including stressed conditions, and propose appropriate eligibility recommendations
• Follow financial markets, economic news, and credit events related to your issuers and beyond to inform your recommendations
• Work closely with the EM Sovereign Credit Officer to ensure consistency in research output
• Perform other tasks for AXA Group's EM local entities, Group Risk Management (GRM), or senior management as needed.

KEY ACCOUNTABILITIES

• Write in-depth Credit Assessment (CA) reports with internal credit ratings and eligibility proposals
• Produce timely surveillance notes on key credit events
• Provide feedback or alerts when changes in economic or financial conditions are detected
• Participate in ad hoc team projects, such as developing alert tools or data analysis initiatives
• Build relationships outside the immediate team, including asset managers, GRM local entities, rating agencies, issuers, and brokers
• Collaborate closely with the EM Sovereign Credit Officer

Required Experience:

Key Skills: Financial Statement Preparation, Credit Analysis, Cash Flow Analysis, Math, Banking, Analysis Skills, UCC Law, Underwriting, Financial Analysis, Financial Modeling, Financial Report Interpretation, Word Processing

Employment Type: Full-Time

Experience: Years

Vacancy: 1