Analyst / Jr. Analyst: Fund Monitoring & Rating Assignments

Analyst / Jr. Analyst Fund Monitoring & Rating Assignments

Role Summary

We are seeking a detail-oriented finance professional to undertake quarterly monitoring of utilisation of issue proceeds raised by companies through the primary capital market, in accordance with applicable SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time to time.

The role will involve reviewing the end-use of funds raised through IPOs, FPOs, rights issues, preferential issues and other relevant primary-market instruments, assessing deviations from stated objects of the issue, validating utilisation through financial and banking records, and preparing monitoring reports.

In addition, the candidate will support credit-rating and related analytical assignments, including financial analysis, industry and business assessment, credit-note preparation, management discussions and periodic surveillance.

The ideal candidate should have a strong grounding in accounting, auditing, corporate finance, primary-market resource mobilisation and wholesale-credit appraisal.

Key Responsibilities

Fund Monitoring Assignments

• Conduct quarterly monitoring of utilisation of proceeds raised through primary-market issuances, in line with applicable SEBI ICDR requirements and the mandate provided by the issuer. Prepare quarterly monitoring reports as per the standard format.
• Review offer documents, including DRHP/RHP, prospectus, letter of offer, placement documents and board/shareholder approvals, to understand the stated objects of the issue and proposed deployment timelines.
• Analyse issue proceeds, including gross proceeds, net proceeds, issue-related expenses, funds earmarked for specific objects, and unutilised balances.
• Verify utilisation of funds against the objects stated in the offer document, and review and reconcile utilisation details with supporting documents.
• Identify, analyse and report delays, diversions, deviations, cost overruns, changes in project scope, inter-corporate transfers or deployment of funds pending utilisation.
• Assess whether unutilised proceeds have been maintained and deployed in accordance with disclosed practices and regulatory requirements.
• Conduct discussions with company management, finance teams, auditors, bankers, project teams and other relevant stakeholders.
• Undertake site visits, where required, to validate physical progress of projects or assets funded from issue proceeds.
• Ensure timely completion and submission of monitoring reports within agreed regulatory and client timelines.
• Maintain complete working papers, document trails, review notes, and audit-ready records for each assignment.

Rating and Credit Analysis

This position also entails:

• Undertaking rating assignments in respect of financial instruments, bank loans, and other debt products, and ensuring timely delivery of the same as per the laid down regulatory timelines.
• Independently handling the rating assignments and analyzing financial statements, factoring quantitative & qualitative data points, key ratios, and performance to assess the creditworthiness of the company.
• Interacting with company management, auditors, bankers, and other lenders, and visiting companies and factories as part of the regular monitoring and data gathering.
• Taking ownership of the folio by carrying out regular surveillance, monitoring, and reviews every quarter/ material event basis, tracking the performance of the companies concerning macroeconomic changes, and handling internal and external audit queries.
• Strictly adhere to standard operating procedures, regulations & policies.

Educational Qualifications

Candidates should possess one of the following qualifications:

• CA Inter / Intermediate qualified, preferably with relevant articleship or post-articleship experience.
• MBA / PGDM in Finance, Banking, Financial Services, Investment Management or related discipline.

Experience

• Approximately 1 to 3 years of relevant experience.

Relevant experience may include one or more of the following:

• Statutory audit, internal audit, transaction audit or forensic review.
• Wholesale banking, corporate banking, mid-corporate banking or SME lending.
• Merchant banking advisory, capital-markets advisory or issue-management support.
• Fund monitoring, project monitoring, or end-use verification.
• Credit rating, research, corporate finance or financial due diligence.

Essential Knowledge and Skills

• Familiarity with primary-market fundraising, including IPOs, FPOs, rights issues, preferential allotments, QIPs and other capital-market transactions.
• Strong understanding of accounting principles, financial statements, cash-flow analysis and financial controls.
• Sound working knowledge of auditing processes, audit evidence, documentation standards and internal-control assessment.
• Understanding of fund-flow analysis, bank-account scrutiny, end-use verification and reconciliation of financial records.
• Exposure to wholesale credit, corporate banking or commercial lending, including credit appraisal and post-disbursement monitoring.
• Ability to analyse project costs, capital expenditure, working-capital deployment and debt repayment/prepayment transactions.
• Working knowledge of the SEBI ICDR framework and the monitoring-agency requirements applicable to issue proceeds, including monitoring of stated objects, deviations and utilisation disclosures.
• Ability to interpret offer documents, financial statements, loan agreements, sanction letters, board resolutions and audit reports.
• Strong report-writing, communication and stakeholder-management skills.
• Strong command over Microsoft Excel, including financial modelling, data validation, reconciliations, etc.

Preferred Competencies

• Ability to independently manage multiple monitoring assignments and strict quarterly reporting timelines.
• Strong questioning and investigative ability to identify gaps between stated utilisation and underlying evidence.
• Capacity to engage effectively with CFOs, auditors, bankers, merchant bankers and company management.
• Analytical judgement to distinguish routine implementation delays from material deviations or potential governance concerns.
• Comfort with travel for client meetings, project-site visits and verification exercises, where necessary.
• Ability to work in a regulated environment with accurate documentation, review and quality-control requirements.