Credit Analyst - RMBS - Director - London

Fitch Ratings
21 Jul 2017
15 Aug 2017
Contract Type

Department Overview

Fitch's European Structured Finance team maintains existing ratings and assigns ratings to new structured finance transactions. Fitch currently rates Structured Finance transactions across four main asset classes: Asset Backed Securities, Residential Mortgage Backed Securities, Commercial Mortgage Backed Securities and Structured Credit. Fitch Ratings maintains surveillance on over 1000 European structured finance transactions.

The European RMBS team is responsible for providing ratings for all securities backed by residential mortgage loans. In addition, the RMBS team is actively involved in publishing top research in relation to both RMBS performance as well as mortgage market fundamentals. The team places a high priority on the quality of its analysis, transparency of its research and its responsiveness to market participants.

Job Description

Based in London, you will focus on focus on rating new European RMBS or existing ratings. This will involve collecting and analysing portfolio data, the review of legal documentation and analysis of the transaction structure as well as communication with counterparties.

Within this position you will conduct an in-depth quantitative credit risk analysis of the portfolio assets. Additionally you will consider the individual transaction waterfall, as well as interest rate and/or currency mismatches between the portfolio assets and the structured finance bonds as part of cash flow modelling the transaction structure. You will conduct qualitative assessments of the operational risks based on on-site reviews at the issuers. You will also review all relevant laws and regulations, legal opinions and relevant documentation.

You will be expected to write credit analysis reports and press releases on rated structured finance transactions as well as research reports and conduct analysis on industry related topics. In addition, you will participate in criteria developments across products and regions.

Position Requirements

You will possess a sound academic track record with at least university degree level or equivalent with a specialty in Finance, Economics, Accounting, Maths or Statistical Sciences. You will demonstrate prior professional experience in credit analysis within the banking industry, ideally, in the securitisation market, in risk management, or have a background in the mortgage industry.

Due to the nature of the role, numeracy and computer proficiency is a pre-requisite, including use of excel functions and application of modelling skills. You must be able to demonstrate strong analytical and problem solving skills. You should have strong written and verbal communication skills and ability to formulate and deliver concise opinion, facts and arguments both verbally and in writing. You will be a good team player as well as being able to work using your own initiative.

It is essential that you are fluent in English. Other European languages such as Dutch are strongly desirable.