Fixed Income Credit Analyst Bank

Degroof Petercam Asset Management (DPAM) is an independent active asset management firm part of a family owned group with its origins in 1871. DPAM is a sustainable investor, pioneer and innovative in responsible and sustainable investing. DPAM has a strong focus on research with a proprietary in-house fundamental and quantitative analyst team, supporting the firm’s asset management activities. DPAM manages investment funds as well as discretionary mandates on behalf of institutional clients, for a total amount of about € 44,1 billion, as of end of January 2023. To support the strong growth of Degroof Petercam Asset Management, we are looking for a f/m

Context

Buy-Side Fixed Income Credit Analyst covering the Banking sector

The seven fundamental analysts and two ESG analysts of the buy-side fixed income research team have as main objectives to provide the fund managers with full and in-depth analysis on micro issues (specific analysis on credit spreads, fundamental, financial and ESG 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) integrating Environmental, Social and Governance aspects into the analysis with the support of the two ESG analysts. 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 and major US banks mainly but also non-European/US 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.
  
  

You will report to DPAM’s Head of Credit Research.

Your Profile

• The candidate has at least 3 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.)
• 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

Degroof Petercam is big enough and small enough to matter since we are independent, operate internationally and have different métiers under one roof.

Entrepreneurship is our DNA, expertise is our fuel. You will become part of a company with highly skilled, talented and passionate experts that aim for nothing less than excellence.

The Impact Of Our Work Goes Beyond Profit By Looking At Business From a Broader Perspective, Challenging Those Who Want To Intellectually. In Addition To Our Fascinating Work Environment, We Also Offer

• A broad offer of learning & development programs including a Degroof Petercam Academy for both professional and personal goals.
• An attractive and market conform compensation package
• Flexible working hours & teleworking
• An Employee Social Engagement Program
• Access to the same Private Banking Expertise as our clients
  
  

Our company offers a stimulating environment for those who want to be challenged intellectually. You’ll be stretched, because we count on you to share our ambitions and to come up with solutions for complex matters. The impact of our work goes beyond profit. Looking at our business from a broader perspective, we influence our entrepreneurial networks to invest in the economy and, ultimately, in society as a whole. In other words, working at Degroof Petercam also means contributing to economic development, today and for generations to come.