Associate Analyst - Corporate Credit Research

M&G plc.
London, United Kingdom
18 Sep 2022
01 Oct 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
At M&G our vision is: to become the best loved and most successful savings and investment business and we're looking for people who are excited about joining us on our journey. We're digitally transforming and investing heavily in technology and innovation to develop new and improved customer propositions that really raise the bar for our customers. To help us achieve our vision we're looking for exceptional people who live our values and behaviours and who can inspire others; embrace change; deliver results and keep it simple.

We know that an inclusive environment makes us more accessible and ensures we attract, engage, promote and retain exceptional people. We welcome applications from all individuals regardless of age, gender/gender identity, sexual orientation, ethnicity/nationality, disability, or military service and welcome those who have taken career breaks. We will consider flexible working arrangements or home working arrangements for any of our roles and also offer work place accommodations to ensure you have what you need to effectively deliver in your role.

What you can expect from us:
We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:
  • Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work
  • Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed
  • Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognise the important contribution you make
  • Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best

How do we support our employees:
All M&G plc employees will be supported in the workplace through our M&G Employee Assistance Programme (EAP). If you need counselling, confidential financial or legal advice. The service is available 24 hours a day, 365 days a year and offers access to qualified professionals who can provide specialist information, advice and support on many issues. It offers a broad range of services, including help with family issues, maintaining work/life balance and mental health support.

The Role:
An opportunity has arisen for an Analyst to join M&G's Corporate Credit Research team. The team, one of the largest and most experienced credit research teams in Europe, provides independent, actionable insights to fund managers in order to aid portfolio construction.
A Corporate Credit Analyst is responsible for primary and back up coverage of a portfolio of corporate names. This involves assessing the financial and operating fundamentals of each corporate and the sector(s) in which they operate, building and maintaining related financial models, understanding the structure, legal covenants and relative value of the corporate's capital structure and building a full ESG profile of the business. Analysts are required to clearly communicate their views to portfolio managers in a timely manner, and more broadly across the firm and to its multi-jurisdiction clients as required. Responsibilities extend to risk monitoring of holdings, corporate actions, financial restructurings, direct corporate engagements and providing guidance more broadly across the firm in sectors of specialisation.

Key Responsibilities for this role:
  • Assessing the creditworthiness of a portfolio of corporates. This will entail credit analysis, financial modelling, documentation reviews, ESG assessments, meeting corporate management issuers and assigning in-house credit ratings, valuations and ESG scores.
  • Working with colleagues to form relative views on credits across investment grade and high yield corporates which the team covers.
  • Monitoring the existing portfolio of holdings, including identifying improving or deteriorating credits and recommending appropriate investment or managed exit strategies.
  • Identifying attractive long-term and tactical investment opportunities within the portfolio covered.
  • Building working relationships with key stakeholders from across the business, including fund management, credit analyst and equity teams across Europe, the USA and Asia, as well as with debt restructuring, corporate actions, leveraged loans, private placements, and direct lending.
  • Supporting various projects across research and other M&G teams, and helping to maintain and build team systems, processes and databases.
  • Providing back up and support to senior analysts in the coverage of their sector on a daily basis
  • To work collaboratively with colleagues and take personal accountability to maintain and enhance controls you are responsible for to support improvement of the overall control environment, customers outcomes and a reduction in M&G's operational risk.

Key Knowledge, Skills & Experience:
  • Strong academic track record
  • 3-7 years Credit Analysis/Fixed Income/Accounting experience
  • CFA or Accountancy qualifications desirable
  • High integrity and strong interpersonal skills
  • Proactive and adaptable problem solver who is self-motivated
  • Highly organised and able to thrive in a time-pressured role
  • Able to work independently but collaborate both within and across teams
  • Proven numerical skills, analytical curiosity and rigorous attention to detail and financial modelling skills.
  • Strong communication skills, both written and verbal: fluency in English is a requirement
  • Experience of fundamental credit analysis and the public Rating Agency process
  • Understanding of pricing and relative value analysis, and the ability to make and explain credit investment recommendations to fund managers
  • Ability to understand complex corporate and capital structures
  • The ability to assess the relevant investment risks of specific instruments from their documentation and other publicly available information
  • Strong in Excel and proficient in Bloomberg.
  • Interested in global economic and political events
  • Ability to work collaboratively as part of a team of analysts, but also to work independently and without direct supervision

Key Work Level Accountabilities - Manager or Expert
  • For people managers, accountable for managing and motivating others to ensure quality of delivery to customers and stakeholders
  • For technical specialists, accountable for delivering expert advice or service, using specialist knowledge and subject matter expertise
  • Applies judgement to deliver outcomes, evaluating a range of potential solutions, considering the impact for customers, cost and risk
  • Manages conflicts that may impact delivery
  • Challenges upwards given knowledge of delivery and awareness of complex systems and the broader picture
  • Identifies and anticipates need for changes to continuously improve quality and efficiency of output
  • Manages resources and risks using expert judgment, know-how and experience

Work Level: Manager / Expert
Recruiter Name: Suzie Threlfall
Closing Date: 30th September 2022

We live by four behaviours at M&G and we ask all our employees to:
  • Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed
  • Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
  • Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
  • Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things

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