Minimum Qualification : • Postgraduate qualification in Finance, Economics, Accounting, Management or a related discipline. • CA Inter / CFA / FRM / MBA Finance or equivalent professional qualification would be preferred.

Prior Experience : 3 to 5 years of relevant experience, preferably in: • credit rating • credit research • banking / credit appraisal • fixed-income research • risk management • financial analytics or • rating methodology / policy development.

Location : Mumbai

Salary Band : As per industry standards

Other Benefits : Family Health Insurance, Accident & Term Life Insurance

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Key Responsibilities

1. Rating Criteria Development

- Develop and refine rating criteria, methodologies, analytical frameworks and sector-specific rating approaches.
- Translate credit risk concepts into clearly defined analytical parameters, rating factors, benchmarks and evaluation frameworks.
- Review existing criteria periodically to assess their continued relevance and effectiveness.
- Identify areas where existing methodologies require clarification, recalibration or enhancement based on market developments and analytical experience.

2. Research and Analytical Support

- Undertake detailed research on sectors, industries, financial metrics, business risk factors and emerging credit risks relevant to rating methodologies.
- Analyse historical rating performance, defaults, migrations, recoveries and other relevant empirical data.
- Conduct quantitative and qualitative analysis to support development or modification of rating criteria.
- Evaluate the relationship between financial and non-financial risk indicators and observed credit outcomes.

3. Back-testing and Validation

- Assist in designing and conducting back-testing and validation exercises for existing and proposed rating criteria.
- Analyse rating transitions, default behaviour, discriminatory power and consistency of criteria across rating categories.
- Identify exceptions, outliers and areas where methodology outcomes warrant further investigation.
- Document findings and recommend suitable refinements to criteria or analytical guidance.

4. Benchmarking and Market Review





- Monitor rating methodologies and analytical practices adopted by domestic and international Credit Rating Agencies.
- Benchmark the Agency's criteria against relevant regulatory guidance, industry practices and academic or empirical research.
- Track developments in credit markets, regulatory frameworks, accounting standards and sector dynamics that may affect rating methodologies.

5. Criteria Documentation

- Draft and update rating criteria documents, methodology papers, guidance notes, FAQs and internal analytical manuals.
- Ensure criteria documents clearly articulate:
- - key rating factors;
- analytical approach;
- financial and qualitative parameters;
- treatment of exceptional circumstances;
- limitations and assumptions; and
- circumstances warranting analytical judgement.

- Maintain appropriate documentation and audit trail for changes to rating criteria.

6. Regulatory and Governance Support

- Support adherence of rating criteria and methodology processes to applicable SEBI regulations, circulars, master circulars and other regulatory requirements applicable to Credit Rating Agencies.
- Assist in preparing documentation and analytical responses relating to rating criteria for regulatory inspections, internal audits and governance committees.
- Support preparation of agenda notes and analytical papers for review or approval of criteria by appropriate internal committees.

7. Consistency of Rating Application

- Work with rating teams to understand practical challenges in application of criteria.
- Review analytical queries and recurring interpretation issues to determine whether criteria or guidance require clarification.
- Support initiatives aimed at improving consistency of criteria application across sectors, teams and rating committees.
- Analyse rating cases, where required,



to assess whether methodology outcomes are aligned with the intended analytical framework.

8. Knowledge Management and Training

- Develop analytical notes, case studies and training material relating to rating methodologies.
- Conduct or support internal knowledge-sharing sessions on new or revised criteria.
- Maintain a repository of methodology-related research, benchmarking and supporting empirical analysis.

Key Deliverables

- New and revised rating criteria / methodology documents.
- Periodic criteria review and validation reports.
- Back-testing and rating performance analysis.
- Industry and peer methodology benchmarking studies.
- Analytical research notes and discussion papers.
- Regulatory and internal governance submissions relating to rating criteria.
- Guidance notes and training material for rating analysts.

Remarks : Technical Competencies : Strong understanding of corporate credit analysis and credit risk assessment, Sound knowledge of financial statements, ratios, cash-flow analysis and capital structures, Understanding of rating methodologies, rating scales and rating transition / default concepts, Ability to undertake quantitative analysis and interpret large datasets, Familiarity with statistical techniques used for validation and back-testing would be desirable, Good understanding of the regulatory framework governing Credit Rating Agencies in India, Advanced proficiency in MS Excel and PowerPoint, Familiarity with SQL, Python, R, Power BI or similar analytical tools would be an advantage. Behavioural Competencies : • Strong analytical and conceptual thinking. • High level of attention to detail. • Ability to independently research complex subjects and arrive at well-supported conclusions. • Strong written communication and documentation skills. • Ability to challenge assumptions constructively and exercise sound analytical judgement. • Ability to work across rating sectors and interact effectively with senior analysts and subject-matter experts. • Robust ownership and ability to manage assignments independently • Intellectual curiosity and willingness to continuously develop understanding of new sectors, products and credit risks.

📌 1. Assistant Manager – Rating Criteria Development (Mumbai)
🏢 Acuité Ratings u0026 Research
📍 Mumbai