Emerging Markets Sovereign Credit Analyst

<-- [if mso]>v\:* {behavior:url(#default#VML);}o\:* {behavior:url(#default#VML);}w\:* {behavior:url(#default#VML);}.shape {behavior:url(#default#VML);}<[endif]--><-- [if gte mso 9]> KOSCIELAK Marta Normal LACHAUME Sebastien T15:58:00Z T15:58:00Z x010100B3499B36B35DC748AC39A673851B90C7 4c20716b,d64ef95,4cf15897 #000000,10,Calibri GIE_AXA_Internal true T12:55:31Z Standard GIE_AXA_Internal 396b38cc-aa65-492b-bb0e-3d94ed25a97b b64e2ebc-a10d-462d-83a4-3eded108e , 3, 0, 2 <[endif]-->YOUR WORK ENVIRONMENT

Why AXA? Every day, we work together for human progress by protecting what matters. A mission that puts a smile on your face and makes you want to get up in the morning

One of the world's leading insurers in the protection of property, people and assets, AXA is 145,000 employees and contributors who are committed to our customers on a daily basis, 51 countries in which we distribute our products and services and more than 90 million customers who place their trust in us worldwide.  As a responsible corporate citizen, AXA is committed to social and environmental causes on a daily basis. We are committed to an inclusive policy that recognizes and values individual differences. Do these ambitions speak to you? Then come and change the world with us

The headquarters of the AXA Group (GIE AXA) brings together our corporate activities. It provides guidance and support to subsidiaries around the world, to ensure the coordination and monitoring of the Group's global strategy, the application of its standards, the consistency of commercial approaches and the sharing of best practices. The headquarters gathers approximately 1000 employees and is distinguished by its strong international culture (45 nationalities), which makes it a rich and stimulating place to work.

Within the Group, you will join Group Investment & Asset-Liability Management ("GIA") department. GIA role is to consolidate local investment decisions, leverage on financial expertise through the Group and steer investment ideas.

Within the department, you'll join the EM Sovereign Research team and report to CIO IMA.

The research coverage encompasses periodic (12 to 18 months) in-depth credit assessment leading to an Internal Credit Rating and an Investment Eligibility status proposal, to be presented to an internal credit committee for validation. The research coverage encompasses on-going monitoring of news-flow, drafting of surveillance notes in case of material events, proposing ad-hoc credit review to propose a change in rating and or eligibility status.

AXA has developed an internal sovereign methodology to assess the creditworthiness of EM Sovereigns that also integrates the assessment of the credit materiality of E/S/G issues.

YOUR ROLE AND RESPONSABILITIES:

JOB PURPOSE

Your mission is to assess the creditworthiness of EM Sovereigns and propose Internal Credit Rating for a set of EM Sovereigns relevant to AXA Group's investment portfolio.

You will also provide ad-hoc research analyses regarding the EM Sovereign Credit Research, when relevant.

You will also contribute to the EM Sovereign Comprehensive Review, EM Sovereign Research team's annual review of all EM Sovereigns in its coverage.

CONTEXT AND MAJOR CHALLENGES

To achieve its mission, you will have the responsibility to cover a set of EM issuers, relevant to AXA Group's credit book. You need to:

- perform a fundamental credit analysis of issuers under your coverage

- monitor the credit profile for your covered issuers, with a special focus on the rating migration risk

You need to have a critical view on issuers based on various sources of information, discussions with asset managers, meetings and/or calls with the issuers and various market participants as well as rating agencies.

You will be confronted to lower level of data transparency and access to information than for analysts covering Developed Markets (DM) issuers. You are well conscious of this dimension when providing fair, balanced credit assessments.

You need to understand the potential evolution of the factors impacting creditworthiness of these issuers under different scenarios (including stressed scenarios) and propose proper eligibility recommendation.

You will follow the financial markets, economic news-flow, and other credit events related to the issuers in your coverage and beyond. This comprehensive monitoring allows you to recommend changes in his/her recommendation. You also understand the mechanisms of the financial markets as well as advanced financial and economic concepts and theories.

You will work closely with the EM Sovereign Credit Officer to ensure consistency of research coverage and output. You may carry out other tasks for the EM local entities of AXA Group, for the Group Risk Management ("GRM"), or for senior management.

KEY ACCOUNTABILITIES

Write in-depth Credit Assessment (CA) reports with internal credit rating and proposals for eligibility status

Produce timely surveillance notes on key credit events

Provide feedback, information or alert when changes in economic, financial conditions are detected

Any other ad-hoc team project, e.g., development of alert tool, and other data analysis initiatives

Build relationships outside the team (asset managers, GRM, local entities etc) as well as outside the Group (with rating agencies, issuers, brokers etc).

Work closely with EM Sovereign Credit Officer

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YOUR PROFILE

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MAIN COMPETENCIES AND EXPERIENCES

Technical skills:

Strong credit analysis' skills.

Analytical and technical skills enable you to perform the fundamental credit analysis of your covered issuers.

Strong understanding of global economics, macroeconomic concepts and major financial indicators.

Strong writing and communication skills in English.

The targeted background for the EM Sovereign Senior Credit Analyst includes:

Master's degree in Economics, Public Policy, Finance or Business

At least 5-7 years of experience in credit analysis out of at least 7-9 years of relevant work experience in a financial or an international institution

Fluency in written and spoken English

CFA or equivalent can be a plus

Soft skills:

Autonomous to perform your fundamental reviews and communicating your recommendations.

Strong communication skills to clearly communicate your analytical convictions.

Ability to seek dialogue with your peers to understand and consider the different aspects of the various issues which can often be very complex.

Organization skills and ability to deliver under tight deadlines.

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WHY JOIN US

You will join:

• A responsible company, towards people, including its employees and customers, and towards the planet 
• A company with strong values
• A company promoting internal mobility and the training of its employees
• A company offering many benefits (learn more here: Reward & Benefits | AXA Group)
• A flexible company, allowing hybrid work, in the office and from home.

In line with our commitments, we celebrate each new hire by taking action for global reforestation: we plant a tree for every recruitment. So, are you ready to apply?