Associate Analyst - Local Government Finance Vehicles
We have an exciting Associate Analyst (AA) opportunity to conduct credit research on regional / local governments (RLGs), local government finance vehicles (LGFVs), and government-related issuers (GRIs) in China.
The AA will collaborate closely with and support senior analysts in conducting credit analysis on an assigned portfolio by integrating credit inputs prepared by others, including Financial Data Analysts (FDAs), Associates and relevant external parties. AA will actively participate in rating committee discussions and interact with issuers and other market participants.
AA will support research on Chinese RLGs, LGFVS and GRIs and will participate in outreach with government officials, intermediaries, and other market participants. This opportunity involves developing an in-depth knowledge of regional / local governments and writing relevant research.
Portfolio Management • Analyze and monitor economic trends and developments, follow official, academic and other stakeholders' announcements and studies on the sector • Analyze government financial statements, monitor financial market activities, and credit quality of the RLG sector in China using both quantitative and qualitative methods. • Perform credit analysis related to ratings, research, presentations, and investor outreach. This will include (but not be limited to): o Reviewing financial spreadsheets and charts prepared by others, analyzing data and financial statements, building and updating financial forecasts, and writing analytical commentary in accordance with Moody's methodologies. o Assisting with proprietary models and new financial projections as applicable, identifying trends in data, and applying analytical skills and judgment to form well-reasoned credit conclusions. o Reviewing transaction documents and building knowledge of cash flow and loss allocation rules (if applicable to the portfolio). • Develop strong working knowledge of Moody's methodologies and credit rating best practices, applying these with guidance from senior analysts. • Prepare draft rating committee memos, in collaboration with senior analysts. • Identify key factors that affect issuer credit profiles. • Interpret and analyze financial data and other credit inputs provided by other supporting teams. • Monitor credit quality of issuer and/or the portfolio trends by following market developments and news events, analyzing issuer reporting, and engaging with issuers directly for clarification and information. • As applicable to the LOB, monitor and attend earnings calls of companies within the assigned portfolio. • Attend and participate in rating committees, including offering analysis and opinion where appropriate. • Complete Credit Estimates (when necessary) used as credit input/factors in other portfolios.
Research & Investor Outreach • Prepare draft core research as applicable to the portfolio e.g. credit opinions, issuer and sector comments, press releases, pre-sale and new issue reports etc. in collaboration with senior analysts. • Contribute to research strategy, including idea generation and preliminary drafting, adhering to Moody's research standards. • Attend investor briefings and issuer meetings as required; help prepare presentation materials where necessary; engage in discussions. • Build positive relationships with issuers including understanding of issuer's business and responding proactively to issuer enquiries.
Credit Administration • Perform analytical tasks related to portfolio reviews and other credit projects. • Operate applicable ratings and research systems and utilize software relevant to the rating group. Identify any data issues and follow up with senior analysts. • Demonstrate sound understanding and judgment in applying Moody's processes, documentation standards and best practices, adhering to all laws and policies.
• Bachelor's Degree, or equivalent qualifications • Some relevant experience, preferably minimum of 2 year. • Accounting background with strong focus in financial analysis (e.g., through coursework, CFA or equivalent, or relevant work experience). • Working knowledge of MS Excel, Word and PowerPoint. • Solid verbal, written communication and interpersonal skills. • Ability to work effectively in a collaborative team environment • Strong organizational skills and attention to detail. • Ability to adapt to a changing environment and prioritize tasks accordingly. • Fluent in English and Mandarin
Rating & Research Support
Moody's is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected veteran status, sexual orientation, gender expression, gender identity or any other characteristic protected by law. Moody's (NYSE: MCO) is a global integrated risk assessment firm that empowers organizations to make better decisions. Our data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions, and fair access to information open the door to shared progress. With over 11,000 employees in more than 40 countries, Moody's combines international presence with local expertise and over a century of experience in financial markets. Learn more at moodys.com .
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