Credit Analyst - Financial Institutions

Rothesay; London; On-site; GBP 45,000 - 85,000; Full time

Job description

Rothesay is the UK’s largest pensions insurance specialist, purpose-built to protect pension schemes and their members’ pensions. With over £70 billion of assets under management, we secure the pensions of more than one million people and pay out, on average, approximately £300 million in pension payments each month.

Rothesay is dedicated to providing excellence in customer service alongside prudent underwriting, a conservative investment strategy and the careful management of risk. We are trusted by the pension schemes of some of the UK’s best known companies to provide pension solutions, including British Airways, Cadbury, the Civil Aviation Authority, the Co-Operative, Morrisons, Smiths Industries and Telent.

At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.

Job title: Credit Analyst
Reports to: Deputy Head of Liquid Credit Risk
Role type: Permanent

SMCR classification: Certified Person

The team:

Rothesay’s Chief Risk Officer has a team which includes the Chief Actuary and Heads of Market Risk, Liquid Credit Risk and Primary Credit Risk. The Liquid Credit Risk team is focused primarily on the externally rated exposure within the asset portfolio, and responsibilities include credit analysis, portfolio analysis, deal review and approval, limits and exposures management and surveillance. This role will support the successful portfolio management of credit risks within Rothesay across US and European investment grade banks and insurers/reinsurers and providing secondary cover for government related issuers. Main responsibilities will include monitoring, credit analysis and reporting on a day-to-day basis.

Job Responsibilities:

• Analysing a portfolio of issuers across the US and European investment grade financial sector, with potential for further expansion into other asset classes. Developing and maintaining a good understanding of their revenue streams, business models, the markets in which they operate and the potential impact of market events on their credit profiles.
• Monitoring news, company announcements, research, and rating agency actions on names within the corporate bonds portfolio, including keeping up to date with sector research, government policy, regulation and macroeconomic trends that could potentially affect Rothesay’s portfolio.
• Identifying, measuring, managing and reporting of credit risk, and working closely with colleagues in the first line as well as other teams within the Risk Management function.
• Monitoring ongoing ESG and climate risk across issuers and sectors, engaging with issuers, and identifying trends, risks and outlooks for more highly exposed issuers and sectors.
• Monitoring compliance with portfolio investment limits, including ensuring assigned limits remain appropriate and commensurate with Rothesay’s risk appetite.
• Performing regular checks to ensure accurate credit ratings are maintained in the system.
• Performing reviews of issuers or asset classes in the portfolio as required.
• Assessing the appropriateness of external credit ratings and assigning (where necessary) credit ratings to issuers, counterparties and/or transactions - in so doing, documenting their views in the relevant Risk/Investment Committee(s) documentation.
• Preparation and support of credit analysis on new and existing investments to internal Credit, Risk and Investment Committee(s). Preparing and delivering sector updates as appropriate, working with colleagues across the first line to consider wider themes and risk appetite.

Skills and Experience

• Minimum 5 years professional experience in an analytical or credit research role covering Financial Institutions from a major rating agency/investment bank/buy-side firm
• Expertise in applying rating methodologies of the major rating agencies is essential.
• Strong analytical skills in performing fundamental credit analysis on financial institutions that can be applied to quantitative and qualitative data to anticipate potential rating agency actions. Experience in incorporating ESG considerations in credit analysis or exposure to relative value analysis is desirable but not essential
• A self-starting, pro-active attitude. Rothesay operates a flat, meritocratic working environment. Individuals who thrive in Rothesay usually demonstrate strong ability to form effective relationships and achieve influence at the most senior levels within the organisation
• Ability to work well within a team environment and contribute to cross departmental/ multidisciplinary projects
• Great attention to detail and self-confidence to provide challenge to existing processes
• Strong communication and presentation skills
• Excellent time management and ability to prioritise workload appropriately
• Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills
• Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
• Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
• Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
• Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues
• Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
• Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations

Disclaimer
This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of assigned duties, but to describe a position level. The role shall be performed within a professional office environment. Rothesay Life has health and safety polices that are available for all workers upon request. There are no specific health risks associated with the role.

Inclusion
Rothesay actively promotes diversity and inclusivity. We know that our success depends on our people and that by nurturing a culture that values difference, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.