Analyst / Senior Research Analyst

Role Overview:

We are looking for candidates with hands-on experience in credit research and fixed income securities investment analysis including Investment Grade Bonds, High-Yield Bonds, Distressed Bonds, Leveraged Finance, Sukuks, financial bonds such as AT1s/ perpetuals, and Sovereign Bonds. The candidates should have experience analyzing corporates / banking / sovereign issuers across global markets including US, Europe, GCC, Africa, and Asia Pacific. The candidate should have hands-on experience in preparing research recommendation notes / memos / tear sheets, financial models (cash flow / recovery / valuation), industry reports, bond watchlists and screeners, and portfolio monitoring in a fast-paced direct lending environment.

Key Responsibilities

Credit Research, Analysis, & Underwriting

• Initiate quick-turn investment profiles / teasers for corporates / financial institutions / sovereigns. Support Investment Committee (IC) memos with clear recommendations
• Assess business model, industry risks, and capital structure
• Initiate detailed financial models (cash flow, liquidity, debt schedules). Conduct downside / scenario analysis and identify key risk triggers
• Analyze financial statements, liquidity, leverage, and debt repayment profile of issuers
• Relative valuation of bonds by assessing yields, spreads, duration, ratings, and ranking of bonds
• Build internal ratings model for above mentioned securities

Bond / Loan Pricing Valuation:

• Build and maintain private credit valuation and pricing models (DCF-based) for illiquid bonds and loan-format securities (bullet & amortizing), including SAR/local currency instruments
• Develop credit spread frameworks using financial KPIs (leverage, ICR, cash flows), market benchmarks, and illiquidity/structural adjustments
• Perform scenario analysis, recovery modelling, and sensitivity analysis to support fair value (IFRS Level 3), NAV reporting, and investment decisions

Portfolio Monitoring

• Track portfolio performance, liquidity, and covenant compliance
• Identify early warning signals and covenant breaches
• Support quarterly reviews and ongoing credit updates

Execution Support

• Handle multiple live deals with tight turnaround timelines
• Work closely with onshore teams / PMs / deal teams
• Maintain high quality and consistency across deliverables

Functional Requirements:

• CA / MBA Finance / CFA preferred

• Strong experience in credit research / bonds assessment / leveraged finance

• Experienced in supporting fund managers in pre-fund launch support, asset allocation strategies, deal evaluation and underwriting

• Hands-on financial modelling (cash flow-based)

• Exposure to IC memos / credit notes / deal write-ups

• Understanding of capital structures, covenants, and debt instruments

• Ability to work in high deal-flow, fast turnaround environments.

Added Advantage:

• Experience with direct lending / private credit funds / structured finance / KPOs serving buyside

• Experience in GCC markets

• Exposure to monthly cash flow modelling, PIK interest, amortization schedules

• Loan pricing valuation models

• Portfolio monitoring / covenant tracking experience

• Tools: Bloomberg / Capital IQ / Excel (advanced)