Listed Credit Analyst at Rory Mackie & Associates

This person is responsible, as part of a team, for all aspects of the credit analysis process across counterparties and industries predominantly in the listed debt space.

Customers:

• Investment team, with the focus being the Listed Credit Team
• Listed Credit Committee
• Borrowers/investee companies
• Clients invested in funds
• Portfolio Managers and the Dealing Desk

Responsibilities:

• Accounting, Finance, Investments, Risk Analysis and Risk Management
• Focused financial industry research and analysis
• Fundamental research of leading publicly listed companies with a view to producing and maintaining a comprehensive investment case
• In-depth financial statement analysis
• Building of financial models
• Communication of findings and recommendations
• Detailed investment analysis (including an assessment of financial, operational, management, competitive, industry, governance, environmental and social factors)
• Proposal of investment recommendations regarding new listed bond and money market instruments
• Review of existing transactions to assess evolving risks and rewards, and recommend if our client funds should continue to hold the investment, buy more, or sell
• Analysis of legal documentation, including performing a commercial review of key terms and conditions for appropriateness
• Working with internal and external legal advisors to ensure adequate protections are captured in the legal documentation
• Development of proposals for appropriate risk-adjusted pricing, and working with the dealing desk in the pricing and valuation of listed bond instruments
• Monitoring of pricing and issuance trends in listed debt auctions to inform the broader investment decision making process
• Develop with the team, and subsequently maintain, internal relative value pricing databases
• Global and local, as well as, industry specific research and analysis
• Participation in ad-hoc projects (related to listed bonds, process improvements, ASISA initiatives etc.)
• Regular contact with borrower management teams, rating agencies, deal originators, legal advisors, internal portfolio managers, ASISA, the JSE and other stakeholders
• Developing and maintaining counterparty and arranger relationships
• Deal origination, including sourcing transactions via reverse enquiry
• Maintenance of all investment related data
• Participation in valuation processes, Listed and Unlisted Credit Committees and other internal team meetings
• Participation in client investor presentations, discussions and report backs

Qualifications and Experience required:

• At least two years prior asset management or banking experience in credit analysis (preferably listed credit), deal implementation, monitoring and instrument valuations
• CA (SA) and/or CFA candidate or similar is strongly preferred
• Financial Accounting, Economics or Financial Analysis up to a 3rd year level
• Strong commercial and analytical focus with a passion for investments
• Computer literacy (MS Office, especially MS Excel) is essential

Competencies:

• Critical thinking
• Meticulous attention to detail
• Decision-making and judgement
• Displaying drive, purpose and initiative
• Collaboration and teamwork
• Assertiveness
• Articulate and confident
• Networking skills
• Excellent planning and organisational skills
• Ability to work under pressure and to multiple, tight deadlines and deliverables
• Excellent communication skills (including verbal, written and presentation skills)
• Integrity
• Learning agility (curiosity and willingness to learn)
• Adaptability
• Negotiating skills