Buy-side Fixed Income Credit Analyst, specializing in the Banking sector

Context

The buy-side analysts of the fixed income team at Degroof Petercam Asset Management,  have as main objectives to provide the fund managers with full and in-depth analysis on micro issues (specific analysis on credit spreads, fundamental and financial analysis, looking behind ratings provided by agencies and challenging them). Their work is essentially bottom-up and complements the top-down analysis done by the fund managers. 
Within the team, the analyst covering banks will perform a fundamental analysis of the bond issuer’s business profile (swot analysis, industry risk, regulation and macro) including a focus on Environmental, Social and Governance (ESG) aspects into the analysis. This analysis of the business profile is then complemented by a financial analysis (using the CAMELS methodology which focuses on capital, asset quality, management, earnings, liquidity and sensitivity) in order to determine the capacity of the issuer to repay its debt, in time and entirely. Finally, the structure of each bond is analysed: statutory, contractual or structural subordination, non-call and coupons risk, etc.
 

Your Position

In this role, you will be in charge of:

• Conducting analysis of banks within your scope of coverage and provide forward looking investment advices on banks to the portfolio managers; 
• Creating  bank credit analysis and valuation models that allows efficient and productive coverage of banks within your scope of coverage (European banks mainly but also non-European banks issuing bonds in EUR);
• Generating investment ideas for our fixed income funds, based on fundamental analysis and relative valuation aspects; 
• Interact with banks’ management, credit rating agencies and ESG rating providers as well as with buy-side & sell-side analysts.

Your Profile

• The candidate has at least 5 years of experience in analysis of the banking sector either from an equity investor, fixed income investor or lender point of view. Thorough knowledge of the sector is a must from day one (regulation, asset types, etc.)
• Since the position has a relative focus on High Yield financial institutions in Southern-Europe, experience and / or affinity in this area would be definitely a plus.
• The candidate has an interest for ESG aspects and a strong willingness to integrate those aspects into the credit analysis. Any relevant experience with analysis of ESG issues would be a strong asset.
• Strong analytical skills; ability to assimilate a large amount of information and translate it into clear investment ideas. A critical and synthetic mind is key.
• Team player and the ability to communicate easily.
• Strong written and verbal communication skills in English, French and/or Dutch. 
• Is flexible and autonomous in his/her way of working. 
   

Our offer

By working for our group, you will join a Belgian family-rooted business with 150 years of sound experience, more than 1400 talents, that combines in-depth expertise with a strong collective knowledge at the service of our clients.
We are behind those who have the ambition to move forward: beginning or established investors, entrepreneurs, institutions, companies and our staff. We believe that words like independence, cooperation, customer focus, ethics, sustainability and entrepreneurship are not just words. 

We think that it is not the size of a company that makes it great, but its human values and the accessibility of its people.