Associate Director, Group Infrastructure Group, Hong Kong
Fitch Group is a global leader in financial information services with operations in more than 30 countries. Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, a leading provider of credit market data, analytical tools and risk services; and Fitch Learning, a preeminent training and professional development firm. With dual headquarters in London and New York, Fitch Group is owned by Hearst.
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 help investors to make important credit judgments with confidence.
As a global credit rating agency, Fitch Ratings gauges the ability of entities and instruments to meet their credit obligations. Investors and financial market participants rely on multiple sources, and the credit rating - indicating how an issue or transaction is likely to perform over time - is one of their key inputs. In this way, we help investors map potential credit risks.
Fitch Solutions, a subsidiary of Fitch Ratings, provides a range of industry-leading products and professional development services to the global financial community. In addition to offering proprietary market-based content, it distributes the ratings, research and financial data of Fitch Ratings through a variety of flexible platforms. With innovation and experience behind every solution it brings to market, our offerings are designed to meet the diverse needs of the fixed-income markets.
Fitch complies with all laws governing employment in each jurisdiction in which it operates, and provides equal opportunity to all applicants and employees. All applications will be considered without regard to race, colour, religion, gender, national origin, age, disability, marital or veteran status, sexual orientation, and other status protected by applicable laws. Department overview:
The Global Infrastructure and Project Finance Group (GIG) is responsible for the credit ratings of companies and non-recourse project finance transactions mainly in the transportation, energy, and social infrastructure sectors. Globally, GIG consists of around 70 analysts with backgrounds particularly in corporate finance, structured finance, project finance and public finance.
The portfolio includes public and private ratings covering a variety of transaction types (project finance, corporate finance and structured finance). The assets include airports, toll roads, ports, rail infrastructure, power plants, oil and gas facilities, wind and solar parks, PPP transactions (schools and hospitals etc.). The portfolio consists of c600 credits with 52% in North America, 17% EMEA, 25% in Latam and a small but growing 6% in APAC. In APAC we currently rate c35 transactions in India, Indonesia and Australia and seeing a sizeable increase in new transactions. The team's output consists mainly of annual surveillance reviews, new ratings and sector research reports which are published primarily through Fitch's website. The senior analysts present regularly to market participants at conferences and other events.
The APAC team report to GIG's Head of APAC based in Singapore. Responsibilities:
Based in Hong Kong you will have lead analytical responsibility for rating transactions primarily across Asia within Transportation, PPP and Power & Renewable sectors. The rated issuers may be project finance SPVs or enterprises active in these sectors.
Your involvement will take the form of leading on the analysis of new transactions, surveillance on existing publicly or privately rated transactions. In addition you will be involved in the writing and publishing research reports.
Specific responsibilities will include but may not be limited to the following:
Qualifications and experience:
- Undertake, as a Secondary or Primary Analyst, credit ratings on new transactions as well as monitoring on existing ratings.
- Prepare rating action commentary for publication
- Closely follow market developments surrounding rated transactions and their sectors, assessing the potential impact on the transaction and maintaining contact with related parties.
- Present credits to internal rating committees.
- Participate and contribute in rating committees for other rated transactions.
- Participate in internal discussions on sector-wide credit issues that could lead to publication of research reports.
The ability to identify quickly the key risk factors in a transaction is an essential requirement. You will already have gained a solid experience over a few years within the infrastructure sector in an analytical role within a financial services firm. Your experience will need to include transactions in the APAC region and specifically China. As a result, you will have good understanding of some sectors, developed excellent Excel and financial modelling skills to support your analysis, as well as gathered an understanding of capital structures and financial documentation.
You will have a minimum of five years' experience, overall, in an analytical role for the position of Associate Director.
You must possess demonstrable written and verbal communication skills coupled with the ability to formulate and deliver clear and concise opinions within robust analytical rationale as you will have regular interaction with ratings committees as well as issuers, bankers and other external parties. Additionally, you must be able to ask probing questions of companies and their advisers and keep fully up to date with sector trends in order to assess the impact on particular transactions.
Given the requirement for rating agencies to provide independent opinions, strength of character and discipline is required and you must be able to appreciate the wider regulatory environment in which Fitch operates. You should be able to work independently in an international environment while also being a good team player, being able to cope with time pressure and deadlines, handle multiple assignments simultaneously, and being happy to travel for short periods.
Fluency in Mandarin and English, both verbal and written, is essential. Application: We are not seeking assistance from recruiters at this time. To apply, please submit a short cover letter stating your suitability for the role plus details of any valid visa that you hold and your up-to-date CV. Please also enter your current and desired gross annual salary and notice period in the applicable spaces when completing your application but do not include them in your CV . We regret we are only able to respond to successful applicants. #LI-VC1