Senior Emerging Markets Corporate Credit Analyst

ABOUT AXA

Whatever their stage of life, we provide over 108 million customers with the products and services they need to progress. From insurance to personal protection, and savings to wealth management, no matter the need we’re always there for them. And we’re always there for our employees. In 50 countries, we work hard to inspire pride and a sense of belonging in our people. To provide opportunities that challenge them, inspire them, and reward them. And to create a culture that’s open, supportive, and empowering. Because we know that’s the real secret to success – and the best way for us to keep building a better world for both our customers and the talented people who put them first.

Your work environment:

The headquarters of the AXA Group (GIE AXA) brings together our corporate activities. It provides guidance and support to subsidiaries around the world, to ensure the coordination and monitoring of the Group's global strategy, the application of its standards, the consistency of commercial approaches and the sharing of best practices. The headquarters gathers approximately 1000 employees and is distinguished by its strong international culture (45 nationalities), which makes it a rich and stimulating place to work.

Within the Group, you will join the GIA department whose mission is to ensure that Group investments are allocated efficiently and safely in compliance with Group regulatory internal constraints.

The Senior Emerging Markets (EM) Corporate Credit Analyst position sits in the Fixed Income Strategy and Emerging Markets team with the Alternative and Credit Team (“ACT”) which manages Group Investments in liquid and illiquid assets and ensures the stability of AXA Credit & Alternative book.

Your job and daily missions:

JOB PURPOSE

You will have the responsibility to cover a set of EM issuers and focus on the resilience of AXA credit book, notably on the credit worthiness and ratings of issuers under your coverage.

Your performance will be measured based on the relevance of your recommendations given the Group’s objectives of the resilience of the credit exposure. The ability to communicate your views, by oral and written in a timely manner, is also an important point.

Your Mission:

1. Perform a fundamental, detailed, in-house credit analysis of issuers under your coverage.
2. Have a forward-looking view to understand the behaviour of issuers under your coverage under different scenarios (including stress scenarios).
3. Propose internal rating and investment eligibility status.
4. Monitor the credit profile and news flow of issuers.
5. Alert in case of rating migration risk.
6. Carry out punctual ad-hoc reports or analysis on EM corporate issuers.

You will use various sources of information, meetings and/or calls with the issuers and various market participants as well as rating agencies.

You will work closely with other EM Corporate Credit Analysts to ensure research back-up and consistency of credit opinions across issuers.

KEY ACCOUNTABILITIES

1. Write in-depth, first opinion, in-house credit assessment.
2. Propose internal rating and investment eligibility status for issuers under your coverage.
3. Produce surveillance notes in case of relevant credit events.
4. Integrate E/S/G topics credit-relevant for issuers under coverage.
5. Alert in case of changes in economic or financial conditions of issuers under coverage.
6. Perform ad-hoc tasks relevant to EM corporate research.
7. Build relationships both internally and outside the team (AXA local entities, AXA asset managers, AXA central functions, etc) as well as outside the AXA Group (rating agencies, issuers, brokers, etc).
8. Present views to AXA’s Global Investment community.

Let’s talk about you:

MAIN COMPETENCIES:

1. You must have strong credit analysis skills. You need to understand the stakes and objectives of AXA Group to better fit your recommendations. You may have built your experience in credit analysis by covering Developed Market issuers previously, but keen on refocusing to EM issuers in your new job.
2. You need to be able to work autonomously in a rigorous manner and be well organised knowing how to deliver under tight deadlines.
3. You are a team player as you will work closely with other EM Corporate Credit Analysts to ensure back-up research coverage and consistency of research opinions across issuers.
4. You have good communication skills in English to clearly communicate your credit opinions and convictions (oral & written).

EXPERIENCE

The targeted background includes:

1. Master’s degree in Economics, Finance or Business.
2. Over 7 years of experience in credit analysis.
3. Fluency in written and spoken English: a pre-requisite.
4. CFA or equivalent can be a plus.