This role is responsible for assisting with all aspects of the credit analysis process across counter-parties and industries.
DUTIES & RESPONSIBILITIES
- Making investment recommendations under the supervision of members of the Investment Team in respect of listed corporate bonds.
- Perform detailed investment analysis (including financial, operational, management, competitive, industry, governance, environment and social factors) and legal review of new and existing bond issuers.
- Global and local research and analysis.
- Industry specific research and analysis.
- Participate in ad hoc projects (related to listed bonds, process improvements, ASISA initiatives etc) Analysis of legal documentation and review of key terms and conditions for appropriateness.
- Assisting with the pricing of listed bond instruments.
- Performing auction analysis to inform the broader investment decision making process.
- Being responsible for the further development of, and subsequent maintenance of, the Relative Value Analysis Listed Credit Pricing tool.
- Regular contact with counterparty management; rating agencies; deal originators; legal advisors; internal portfolio managers; ASISA; the JSE and other stakeholders.
- Deal origination
- Sourcing transactions via reverse enquiry
- Developing and maintaining counterparty and arranger relationships
- Analysis of appropriateness of deal structures and pricing
- Review of existing transactions to assess and recommend if we should continue to hold the investment, buy more or sell.
- Maintenance of all investment related data.
- Participation in valuation methods and processes.
Technical/professional knowledge and skills:
- Relevant commerce or financial markets degree.
- CA (SA) and/or CFA candidate or similar is preferred (at least Financial Accounting, Economics or Financial Analysis up to 3rd year level).
- Prior asset management or banking experience in deal implementation, monitoring and instrument valuations would be an advantage.
- Prior experience with financial instruments and in financial markets an advantage.
- Computer literacy (MS Office, especially MS Excel) is essential.