Credit analyst

JobCrexa; Mumbai; On-site; INR 1,500,000 - 2,400,000; Full time

Job summary

JobCrexa in Mumbai seeks a seasoned credit analyst to perform fundamental credit analysis on corporate issuers, NBFCs and banks. You will develop models, projections, and scenario analyses to assess debt serviceability and covenant compliance, and prepare research reports for portfolio managers and the investment committee.

You will monitor ratings, regulatory changes, and macro trends, providing timely credit opinions on issuer risk and investment suitability for fixed income portfolios.

Qualifications

• Strong ability to read and interpret P&L, balance sheet, and cash flow statements.
• Experience analyzing NBFCs and financial sector entities; ALM dynamics and capital adequacy knowledge.
• Familiarity with Indian corporate credit markets, bonds, and money market instruments.

Responsibilities

• Conduct fundamental credit analysis on corporate issuers, NBFCs, banks and structured issuers.
• Develop credit models, projections, and scenarios to assess leverage and covenant compliance.
• Prepare credit research reports, memos, and risk assessments for portfolio managers and committees.
• Support trading desk with credit opinions on issuer risk and investment suitability.
• Monitor ratings, rating actions, and outlooks; alert team to material events.
• Track macro trends and RBI/SEBI regulations impacting credit quality.
• Liaise with rating agencies and gather rating rationales.
• Assist in internal credit risk frameworks and watchlists.
• Collaborate with Senior Macro Research Analyst to integrate macro views into credit assessments.
• Contribute to internal credit research library and issuer databases.
• Support compliance and risk management across fixed income portfolios.

Skills

Credit analysis

Financial statement interpretation

Fixed income knowledge

Regulatory understanding

Education

Bachelor's degree in Finance, Economics, Accounting, Commerce, or related field

Master's degree in Finance, Economics, Accounting, or related field

Job description

KEY RESPONSIBILITIES Conduct thorough fundamental credit analysis on corporate issuers, NBFCs, banks and structured issuers— including detailed review of financial statements, debt structures, business models, management quality, and sector positioning. Evaluate creditworthiness of issuers across a broad range of sectors including infrastructure, real estate, manufacturing, financial services, and consumer-facing businesses, with a focus on identifying credit risks and opportunities in the debt market. Develop and maintain detailed credit models, financial projections, and scenario analyses to assess debt serviceability, leverage trajectory, and covenant compliance across rated and unrated issuers. Prepare comprehensive credit research reports, investment memos, and risk assessments for use by portfolio managers, traders, and the investment committee in making corporate bond and structured credit investment decisions. Support the trading desk in evaluating new debt instruments, primary market opportunities, and secondary market credit trades — providing timely credit opinions on issuer risk, spread adequacy, and investment suitability. Monitor credit ratings, rating actions, rating watch placements, and credit outlooks across the fixed income portfolio — proactively alerting the investment team to any deterioration in issuer credit quality or material events affecting the portfolio. Track sector-level developments, regulatory changes, and macroeconomic trends — including RBI guidelines on NBFCs, SEBI regulations on bond markets, and sectoral stress events — that may impact the credit quality of issuers under coverage. Conduct ongoing surveillance of issuers in the portfolio through quarterly earnings reviews, debt maturity analysis, liquidity position monitoring, and management communication tracking. Liaise with credit rating agencies, intermediaries, and other participants to gather credit intelligence, obtain rating rationales, and stay informed on issuer-specific developments. Assist in the development and maintenance of internal credit risk frameworks, issuer watch lists, and credit limit structures for the fixed income portfolio. Work collaboratively with the Senior Macro Research Analyst to incorporate top-down macro and sectoral views into bottom-up credit assessments and investment recommendations. Contribute to the firm's internal credit research library — maintaining up-to-date credit profiles, financial models, and issuer databases across sectors and instrument types. Support compliance and risk management teams in ensuring adherence to internal credit policies, concentration limits, and regulatory requirements across fixed income portfolios.

QUALIFICATIONS

Bachelor's or Master's degree in Finance, Economics, Accounting, Commerce, or a related field. CFA (in progress or completed) or FRM is strongly preferred. 4–7 years of experience in credit analysis, fixed income research, or related roles within a credit rating agency, bank, NBFC, asset management firm, mutual fund, or fixed income-focused investment house. Solid understanding of Indian corporate credit markets, including corporate bonds, NCDs, structured credit instruments, and money market securities such as CPs and CDs. Strong ability to read and interpret financial statements — P& L, balance sheet, cash flow — and derive meaningful credit insights across a range of sectors and business models. Experience analysing NBFCs and financial sector entities, including an understanding of ALM dynamics, capital adequacy frameworks, asset quality metrics, and regulatory requirements specific to this sector.