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Votre environnement de travail

Le siège social du Groupe AXA (GIE AXA) regroupe nos activités corporate. Il assure le pilotage et le support des filiales dans le monde, afin de garantir notamment la coordination et le suivi de la stratégie globale d’AXA, l’application de ses standards, la cohérence des approches commerciales, et le partage des meilleures pratiques.

Le siège est composé d’environ 1000 employés et se distingue par sa forte culture internationale (45 nationalités), ce qui en fait un espace de travail riche et stimulant.

C’est autour de la diversité et de l’unité que se construit AXA, c’est pourquoi nous nous engageons à promouvoir le succès collectif par l’inclusion.

Within the Group, you will join the GIA department whose mission is to ensure that Group investments are allocated efficiently and safely in compliance with Group regulatory internal constraints.

The Senior Emerging Markets (EM) Corporate Credit Analyst position sits in the Fixed Income Strategy and Emerging Markets team with the Alternative and Credit Team (“ACT”) which manages Group Investments in liquid and illiquid assets and ensures the stability of AXA Credit & Alternative book.

The Fixed Income Strategy and EM Team is in charge of providing investment recommendations on all public fixed income asset classes and managing Group EM Investments. The team consists of the Chief Fixed Income Strategist and EM, 1 Senior Fixed Income Strategist, 1 EM Credit Officer and 3 EM Credit Analysts. Total EM investments stand at EUR 26 billion consisting of EM Sovereigns, Quasi-Sovereigns and Corporates. The team also works closely with the rest of the ACT Team, including 22 DM credit analysts and 2 EM sovereign analysts to ensure the stability of AXA Public Credit Book (AuM at c.€275bn).

The contribution from EM investments is important in achieving the Group’s objectives in terms of investments diversification, revenues and income. Managing well the risks of these EM investments is extremely important.

The total AXA exposure to Investment Grade (“IG”) EM issuers is spread over 100+ issuers. The EM Senior Credit Analyst will cover 40 to 50 issuers.

This job is based in Madrid or Paris.

Your job and daily missions:

JOB PURPOSE

You will have the responsibility to cover a set of EM issuers and focus on the resilience of AXA credit book, notably on the credit worthiness and ratings of issuers under your coverage.

Your performance will be measured based on the relevance of your recommendations given the Group’s objectives of the resilience of the credit exposure. The ability to communicate your views, by oral and written in a timely manner, is also an important point.

Your Mission:

· perform a fundamental, detailed, in-house credit analysis of issuers under your coverage

· have a forward-looking view to understand the behaviour of issuers under your coverage under different scenario (including stress scenario)

· propose internal rating and investment eligibility status

· monitor the credit profile and news flow of issuers

· alert in case of rating migration risk

· carry out punctual ad-hoc reports or analysis on EM corporate issuers

You will use various sources of information, meetings and/or calls with the issuers and various market participants as well as rating agencies.

You will work closely with other EM Corporate Credit Analysts to ensure research back-up and consistency of credit opinions across issuers.

KEY ACCOUNTABILITIES

· Write in-depth, first opinion, in-house credit assessment

· Propose internal rating and investment eligibility status for issuers under your coverage

· Produce surveillance notes in case of relevant credit events

· Integrate E/S/G topics credit-relevant for issuers under coverage

· Alert in case of changes in economic or financial conditions of issuers under coverage

· Perform ad-hoc tasks relevant to EM corporate research

· Build relationships both internally and outside the team (AXA local entities, AXA asset managers, AXA central functions, etc) as well as outside the AXA Group (rating agencies, issuers, brokers, etc)

· Present views to AXA’s Global Investment community.