Fitch Ratings is a leading global rating agency committed to providing the world’s credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade, gaining market presence throughout the world and across all fixed income markets. Fitch Ratings is dual-headquartered in New York and London, operating offices and joint ventures in more than 47 locations and covering entities in more than 90 countries. Fitch Ratings is a majority-owned subsidiary of Fimalac, S.A., an international business support services group headquartered in Paris, France.

Department Overview

Fitch has long been the industry leader in the financial institutions sector, providing more ratings worldwide than any other rating agency – on over 3,500 entities and their securities. The firm also provides financial strength and debt ratings for more than 2,500 insurance companies globally. Fitch’s financial institutions’ coverage includes not only banks, but also finance and leasing companies, securities firms and asset management organizations. In addition, the group supports dedicated teams for rating specialized securities such as covered bonds. Because of the firm’s recognized strength in this sector, some banks choose Fitch as their sole rating agency, or opt for Fitch and one other rating agency.

To support its sub-Saharan activities, Fitch has a financial institutions team based in Johannesburg covering the region and reporting to London.

Job Description

Job Purpose:

An analyst whose primary focus is rating financial institutions, both banks and insurance companies, in sub Saharan Africa.

Principal Role

As a member of the financial institutions analytical team in South Africa the successful candidate will assist producing credit research on both banks and insurance companies in sub-Saharan Africa. Principal responsibilities include the preparation of analytical reports, based on direct access to issuer senior management as well as on public information; presentation to internal rating committees; and liaison with issuers, investors and intermediaries such as investment banks. Analytical work includes coverage of individual issuers as well as producing planned and ad hoc sector research publications, such as industry commentaries, rating actions to events of the day and topical research.

Responsibilities

Candidates should have some experience which will enable them to deliver high quality credit analysis research. Candidates will be expected to assume a considerable degree of responsibility at an early stage.

• Carry out data analysis and issuer research and write credit rating reports in English.
• Travel to the region and conduct in-depth meetings with senior management at rated institutions,
• Present credit analysis on issuers to a rating committee,
• Deal with investor customer queries,
• Prepare for and attend rating committees on issuers from other geographic areas and contribute to internal discussions on rating issues. It is important that individuals are able to work independently while also being good team players and able to cope with time pressure and deadlines, happy to travel (up to 20% of working time) and adapt to a multi-cultural environment.

Person Specification

Skills & Experience Summary:

Advanced Excel skills, Word and PowerPoint. Candidates should have some direct experience covering the financial services industry: an emphasis on credit risk is a positive. Experience of the insurance industry in particular would be strongly advantageous - this may have been gained through, for example, working within a technical capacity in an insurance company, an actuarial firm or an accounting firm. The successful applicant will be a university graduate, or graduate caliber. An internationally recognised professional qualification in accounting or financial analysis (e.g. CFA) would be an advantage. We require a balance of good numeracy, analytical ability and skills in writing concise, fluent English. Some evidence of international experience is preferable, such as time spent living abroad and/or travelling. Some knowledge of financial institutions in South Africa or the region would be useful.