KEY RESPONSIBILITIES

- Conduct thorough fundamental credit analysis on corporate issuers, NBFCs, banks and structured issuers— including detailed review of financial statements, debt structures, business models, management quality, and sector positioning.
- Evaluate creditworthiness of issuers across a broad range of sectors including infrastructure, real estate, manufacturing, financial services, and consumer-facing businesses, with a focus on identifying credit risks and opportunities in the debt market.
- Develop and maintain detailed credit models, financial projections, and scenario analyses to assess debt serviceability, leverage trajectory, and covenant compliance across rated and unrated issuers.
- Prepare comprehensive credit research reports, investment memos, and risk assessments for use by portfolio managers, traders, and the investment committee in making corporate bond and structured credit investment decisions.
- Support the trading desk in evaluating current debt instruments, primary market opportunities, and secondary market credit trades — providing timely credit opinions on issuer risk, spread adequacy, and investment suitability.
- Monitor credit ratings, rating actions, rating watch placements, and credit outlooks across the fixed income portfolio — proactively alerting the investment team to any deterioration in issuer credit quality or material events affecting the portfolio.
- Track sector-level developments, regulatory changes, and macroeconomic trends — including RBI guidelines on NBFCs, SEBI regulations on bond markets, and sectoral stress events — that may impact the credit quality of issuers under coverage.
- Conduct ongoing surveillance of issuers in the portfolio through quarterly earnings reviews, debt maturity analysis, liquidity position monitoring,



and management communication tracking.
- Liaise with credit rating agencies, intermediaries, and other participants to gather credit intelligence, obtain rating rationales, and stay informed on issuer-specific developments.
- Assist in the development and maintenance of internal credit risk frameworks, issuer watch lists, and credit limit structures for the fixed income portfolio.
- Work collaboratively with the Senior Macro Research Analyst to incorporate top-down macro and sectoral views into bottom-up credit assessments and investment recommendations.
- Contribute to the firm's internal credit research library — maintaining up-to-date credit profiles, financial models, and issuer databases across sectors and instrument types.
- Support compliance and risk management teams in ensuring adherence to internal credit policies, concentration limits, and regulatory requirements across fixed income portfolios.

QUALIFICATIONS

- Bachelor's or Master's degree in Finance, Economics, Accounting, Commerce, or a related field. CFA (in progress or completed) or FRM is strongly preferred.
- 4–7 years of experience in credit analysis, fixed income research, or related roles within a credit rating agency, bank, NBFC, asset management firm, mutual fund, or fixed income-focused investment house.
- Solid understanding of Indian corporate credit markets, including corporate bonds, NCDs, structured credit instruments, and money market securities such as CPs and CDs.
- Strong ability to read and interpret financial statements — P&L;, balance sheet, cash flow — and derive meaningful credit insights across a range of sectors and business models.
- Experience analysing NBFCs and financial sector entities, including an understanding of ALM dynamics, capital adequacy frameworks, asset quality metrics, and regulatory requirements specific to this sector.

📌 Credit Analyst (Mumbai)
🏢 Alpha Alternatives
📍 Mumbai