AXA IM
Published: June 9, 2021
Location
Job Type
Category
Description
Key Accountabilities
What?
- Analysis of credit risk of issuers: 125 issuers followed within a preselected 700-issuer universe
- Provide relevant sector analysis to support FM decisions throughout 17 sub-sectors
- Identify relative value into both Infra & Real estate markets throughout 15 countries worldwide
- Portfolio Management & Monitoring (performance analysis, cash, guidelines, hedging strategies)
- High volume of bonds/derivatives (> 1,000 trades over Q4 20, €9bn transactions since 2011)
How ? (below a focus on the main task: credit analysis)
- Meticulous analysis of the annual reports of property & infrastructure companies
- Comparing with the main peers within the relevant sub-sector
- Cross-analysis of existing research notes to identify points of divergence & justify them
- Take a step back, depending on the key risks identified, to focus on capital structure, strategy, sources of income, sector/regulatory specificities governing them (type of contracts, pricing/indexation, regulatory model), performance (key operational ratios, growth), financial health, specific features of the underlying assets of the sector concerned, development issues, risks to be monitored in the medium term
- Distinguish the "financial communication" provided by companies from a "financial analysis" in order to develop critical thinking and highlight the major risks and issues related to these companies
- Justify all information by using facts, precise sources, justified elements, cross-referenced analyses
- Write structured docs with effective drafting that is directly usable for investment purposes
- Present the work in an audible, convincing way in order to maintain the attention of the audience
- Make the difference between written analysis & its presentation: requiring different skills each
3) Why ?
- to bring value-added ideas to support daily investment decision
- to provide strong performance for the clients
Role Requirements
Education/Qualifications
- Engineer or business school degree with specialization in finance / Real Estate
Experience
- Previous experience in real estate or investment banking (ideally with formal real estate qualifications)
- Knowledge and Skills
- Advanced mastery of Excel modelling (cash flow & performance analysis, asset valuation)
- Knowledge of Bloomberg & law is a plus
- Proven skills in financial analysis and valuation
- Strong interest in the real-estate/infrastructure financing
- Experience in, or at least have a solid understanding of, real estate sectors at least across Europe
- Fluency in French & English
Competencies
- Team spirit, flexibility and the ability to work under pressure
- Motivation to learn and progress in a fast-growing environment (“start-up spirit”)
- Thoughtfulness and ability to synthesize
- Strong analytical skills
- Solid presentation skills
- Rigorous and self-motivated