Background

As one of the largest insurers and financial services companies in East Africa, we have decades of experience in helping discerning individuals protect and create their wealth. But that’s not all. We also keep an eye firmly on the future, using innovation to craft financial products and services that we know you need in today’s constantly changing world....

Job Summary

Responsible for supporting the Portfolio Management team through rigorous analysis of fixed income instruments, issuers and markets. The role focuses on fundamental analysis of credit risk across sovereign, financial and corporate issuers in Kenya and the broader East African region.

ROLES AND RESPONSIBILITIES

Credit Research and Analysis

• Conduct detailed credit analysis on banks, corporates, sovereigns and government-related entities; Evaluate issuer creditworthiness through: Financial statement analysis; cashflow modelling; Capital Structure assessment; Industry and competitive positioning; develop and maintain internal credit rating frameworks and scorecards.

Market and Investment Support

• Contribute to fixed income portfolio construction and management decisions; Analyze yield curves, spreads and relative value opportunities across instruments; Provide through-the-cycle pricing recommendations for new and existing investments; Support valuation of fixed income instruments and mark-to-market assessments

Primary Market & Stakeholder Engagement

• Liaise with arrangers and investment banks; Issuers (corporates, banks, sovereign-related entities); Rating agencies and advisors
• Review and assess new bond issuances, private placements and structured credit opportunities
• Conduct due diligence on new market entrants and alternative credit opportunities

Documentation and Structuring

• Analyze legal and transaction documentation including: Information memoranda, Term sheets, Trust deeds and security structures
• Engage internal legal and compliance on credit and structural risks

Credit Reporting

• Prepare and present credit papers and recommendations to the ICEA LION Asset Management (ILAM) Investment Forum and the ICEA LION Steering and Investment Committee. Monitor and report on: Credit exposures; Rating changes; Covenant compliance; Market developments

Macroeconomic and Quantitative Analysis

• Interpret macroeconomic variables including: Interest rates; Inflation; Currency movements; Fiscal and monetary policy; Assess impact of economic cycles on credit markets and issuer risks; Perform quantitative analysis on: Break-even yields; Duration and sensitivity metrics; Scenario and stress testing

Key Performance Measures

• Quality and accuracy of credit analysis and recommendations
• Contribution to portfolio performance and risk-adjusted returns
• Timeliness and quality of the ILAM Investment Forum fixed income analysis
• Effectiveness of issue monitoring and risk identification
• Depth of market insight and research output
• Collaboration and contribution to team investment process

EXPERIENCE, ACADEMIC & PROFESSIONAL QUALIFICATIONS AND KNOWLEDGE

• 2–6 years’ experience in: Credit analysis, Fixed income trading and investing, Corporate banking / credit risk, Investment research
• Bachelor’s degree in: Finance, Economics, Actuarial Science, Accounting or related field
• CFA (Chartered Financial Analyst) – completed or in progress preferred
• CPA / ACCA or equivalent qualification is an added advantage
• Exposure to: Debt capital markets, Financial institutions analysis

• Conduct detailed credit analysis on banks, corporates, sovereigns and government-related entities; Evaluate issuer creditworthiness through: Financial statement analysis; cashflow modelling; Capital Structure assessment; Industry and competitive positioning; develop and maintain internal credit rating frameworks and scorecards.
• Contribute to fixed income portfolio construction and management decisions; Analyze yield curves, spreads and relative value opportunities across instruments; Provide through-the-cycle pricing recommendations for new and existing investments; Support valuation of fixed income instruments and mark-to-market assessments
• Liaise with arrangers and investment banks; Issuers (corporates, banks, sovereign-related entities); Rating agencies and advisors
• Review and assess new bond issuances, private placements and structured credit opportunities
• Conduct due diligence on new market entrants and alternative credit opportunities
• Analyze legal and transaction documentation including: Information memoranda, Term sheets, Trust deeds and security structures
• Engage internal legal and compliance on credit and structural risks
• Prepare and present credit papers and recommendations to the ICEA LION Asset Management (ILAM) Investment Forum and the ICEA LION Steering and Investment Committee. Monitor and report on: Credit exposures; Rating changes; Covenant compliance; Market developments
• Interpret macroeconomic variables including: Interest rates; Inflation; Currency movements; Fiscal and monetary policy; Assess impact of economic cycles on credit markets and issuer risks; Perform quantitative analysis on: Break-even yields; Duration and sensitivity metrics; Scenario and stress testing

• Credit analysis
• Fixed income trading and investing
• Corporate banking / credit risk
• Investment research
• Debt capital markets
• Financial institutions analysis
• Financial statement analysis
• Cashflow modelling
• Capital Structure assessment
• Industry and competitive positioning
• Credit rating frameworks and scorecards
• Yield curve analysis
• Spread analysis
• Relative value analysis
• Pricing recommendations
• Valuation of fixed income instruments
• Mark-to-market assessments
• Due diligence
• Legal and transaction documentation analysis
• Macroeconomic variable interpretation
• Quantitative analysis
• Break-even yields calculation
• Duration and sensitivity metrics calculation
• Scenario and stress testing

• Bachelor’s degree in: Finance, Economics, Actuarial Science, Accounting or related field
• CFA (Chartered Financial Analyst) – completed or in progress preferred
• CPA / ACCA or equivalent qualification is an added advantage