Generali is one of the largestglobal insurance and asset management providers. Established in 1831, it ispresent in 50 countries in the world, with a total premium income of more than€ 66 billion in 2018.
With nearly 71,000 employees serving 61 million customers,the Group has a leading position in Europe and a growing presence in Asia andLatin America.
Generali’s ambition is to be the life-time partner to itscustomers, offering innovative and personalized solutions thanks to anunmatched distribution network.
Generali Insurance AssetManagement SGR is the Asset Management Company of Generali Group, leveragingthe experience and know-how it has developed through managing the assets of theinsurance companies of the Generali Group and pension funds, GIAM offers atrack record of solid performance in Liability Driven Investment (LDI)solutions for insurance and pension funds portfolios, as well as a series ofproprietary analysis tools developed to support LDI management.
The Credit Analyst’s core workresults in :
Publications : Preparecredit opinions explaining key risks and explain economic, competitive, sectorand political drivers that affect a borrower’s ability to repay its debt.
Provide bond ratings, outlooks and investment recommendations. Providemaintenance notes and / or sector reviews when required.
Prepare financialmodels : Create historical and projected financial models, analysing keyfinancial metrics to differentiate improving from deteriorating credits.
Provide benchmarks against peers.
Communication : Hostconference call with PMs / Head of Investments to communicate views
Generali Investments iscurrently looking for a junior credit analyst to join its Credit Researchdepartment. Ideally we want someone with 1-2 years relevant experience, but wecould also consider an entry level positon on an internship that evolves into apermanent position.
Based in Milan / Trieste / Paris, the mission will focusprimarily on the analysis of banks in German-speaking countries and coveredbonds.
In addition, the junior analyst will be involved in various specificcoverage and industry projects.
The ideal candidate willsupport the team in the following activities :
Develop a deepknowledge of the banking sector and the covered bond product.
Assist senior analystsin the assessment and monitoring of a portfolio of banks in German-speakingcountries and covered bonds either via primary markets or private placements.
Assign internal ratingsfor issuers in portfolio along with detailed rationale.
Participate in duediligence meetings as required.
Contribute efficientapproaches to credit investment and management.
Participate in regularcredit-related reports, and assist senior members of the team in thepreparation of models and documents for Credit Committees, credit process andgovernance documents if required.
The ideal candidate will meet the following requirements :
MSc degree in Economicsand Finance area. MBA, CFA (or similar) would be a plus
Previous experience (upto 2 years) or internships in similar areas
Excellent analyticalskills the candidate should be able to analyze companies, industries, andsituations both from a fundamental perspective and in a relative value context
Credit and legal skills ability to dig into bond documentation and understand covenant andnon-vanilla clauses
Fluent in English andGerman
Microsoft Officepackage (esp. Word, Excel, Power point) essential. Bloomberg Platform would bea plus
Experience in analyzingfinancial statements
Any former workexperience in credit research would be a plus
Comfortable withworking under pressure and with tight deadlines