The Fitch Ratings Sovereigns Group provides credit research and opinion over 120 countries and assigns ratings to the foreign and local currency debt of sovereign governments that account for virtually all sovereign international debt issuance.

As an Associate Director in the Sovereigns team covering Africa/Middle East you will act as the ‘primary analyst’ for maintaining a portfolio of around 5 sovereign ratings of primarily French-speaking countries, developing deep analytical knowledge on these economies and working with significant independence, reporting to the regional team head.

What We Offer

Highly visible work and regular interaction with high-level officials from the public and private sectors
The personable, friendly environment of a smaller team with the security and support from large and well-established group
Significant personal development opportunities.

We’ll Count On You To

Analyse all aspects of creditworthiness for the sovereigns in your portfolio. This includes reviewing and forecasting macroeconomic policies and trends, including GDP growth, inflation, the impact and consistency of monetary and fiscal policies and risks to macroeconomic stability.
You will study trends in the sovereigns’ public and external finances, conduct debt sustainability analyses and explore risks stemming from contingent liabilities.
You will also study the structure of public finances and external debt and forecast external flows (BOP)and assets and liabilities (IIP, debt structure).
Your analysis will also cover governance and domestic and geopolitical risks and risks to the sovereign stemming from the financial sector.
Attain good working relationships with relevant officials in central banks and government, as well as third party experts, so that you are able to regularly update Fitch’s credit view and country economic databases and forecasts. You will organise and lead annual rating visits and teleconference calls as well as prepare recommendations, supporting research and presentations for the Sovereign Rating Committee.
Provide support to colleagues on the ratings of a further three to four sovereign governments as a ‘secondary analyst’.
Initiate and produce topical research on economic and credit developments on the countries in your portfolio. This will typically take the form of brief topical commentary such as Fitch Wire articles and more substantive special reports
Represent and communicate Fitch’s views externally, such as by speaking at conferences, holding meetings with investors and other market participants and interacting with print and broadcast media.

What You Need To Have

A strong understanding of macroeconomics and a keen interest in and awareness of international and political affairs, underpinned by at least a first degree in economics or a very closely-related discipline. A master’s degree in economics would be an advantage
Several years’ experience of country/sovereign risk analysis and/or applied economics gained from within a top institution such as a finance ministry, central bank, private research house or financial institution
Analytical and numerical skills - You must be able to identify, initiate and undertake rigorous quantitative and qualitative economic, financial and political risk analysis and to reach sound judgments. You should be proficient in Excel
Communication skills - You must be able to marshal arguments in a coherent and concise manner and communicate effectively both orally and in written research; and to represent Fitch externally in a credible, effective and professional manner.
French language skills – You will be working on some French language sovereigns so the ability to conduct technical analytical discussions in French is essential.

What Would Make You Stand Out

A background in covering African Economies
Working level competence in European languages beyond English and French would be advantageous.
Experience in speaking at conferences and investor events; making TV and media appearances

Why Fitch?

At Fitch Group, the combined power of our global perspectives is what differentiates us. Our global network of colleagues comes together to accomplish things greater than they ever could alone.

Every team member is essential to our business and each perspective is critical to our success. We embrace a diverse culture that encourages a free exchange of ideas, guaranteeing your voice will be heard and your work will have an impact, regardless of seniority.

We are building incredible things at Fitch and we invite you to join us on our journey.

Fitch Ratings is a leading provider of credit ratings, commentary and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective and insights we provide have helped fund a century of growth and enables our clients to make important credit judgements with confidence.

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Credit Analyst, Associate Director level, Africa/Middle East Sovereigns - French speaker - London