Credit Analyst – Credits

Join our team as a Credit Analyst in the Credit team! In this role, you will be responsible for analyzing credit analysis on a number of companies with a specific focus on the financial sector (banks, real estate companies and insurers). You will combine your bottom-up credit analysis skills with your knowledge of credit markets to help create a balanced investment portfolio. You will be working closely together with our other credit analysts and portfolio managers to discuss company developments and portfolio positioning. Your role within the credit team is, together with your fellow credit analysts, to perform credit analysis on companies within the financial sector that incorporate the three dimensions of risk, return, and sustainability and to support the portfolio managers for the credit mandates with relevant trade ideas.

As a Credit Analyst within the Credit team, you will:

• Be instrumental in making sure we have a robust fundamental understanding of the companies in our portfolios through fundamental analysis;
• Both update analyses of companies under coverage on a frequent basis and perform analyses on new companies that can be added to the portfolios;
• Discuss portfolio positioning and relative value and developments in your specific sector with portfolio managers;
• Work together with your fellow analysts to discuss sector positioning and decide on priorities for coverage;
• You are encouraged to be proactive in terms of showing trade ideas for the relevant portfolios.

You will be working together with 19 colleagues in PGGM’s Credit team, which currently manages around EUR 15 billion in corporate bonds, spread across the global credit universe. The team is very diverse, with international backgrounds, with communication in the team done in English. The team manages two mandates. The Global Credit mandate invests in bonds and loans globally and can invest in both investment grade and high yield companies. The Protection Credit mandate is focused on the Euro investment grade segment. Realizing a strong financial and sustainable return is our main goal and we analyze companies across three dimensions: return, risk, and sustainability.

We are looking for individuals who combine a strong commitment to sustainability with a passion for credit investing. Ideal candidates will:

• Think Strategically: Possess a creative, strategic mindset;
• Understand Sustainability: Have natural affinity for sustainability and long-term investment contexts;
• Have Relevant Experience: Hold an academic degree. A CFA certification and experience in analyzing companies in the financial sector are a plus;
• Excel in Financial Analysis: Have strong quantitative and financial analysis skills;
• Communicate Effectively: Be proficient in English with excellent analytical and conceptual skills;
• Be Open and Collaborative: Work transparently and respectfully, connecting well with others;
• Be Inquisitive and Goal-Oriented: Have a keen business sense, curiosity, and a goal-oriented approach.

At PGGM, we are proud of our core values: trust, teamwork, and innovation. These values grew out of the best stories from our colleagues—moments when they were at their best. We believe those moments arise when you can be 100% yourself. At PGGM, we value the unique combination of your personal and professional qualities. Because what truly matters at PGGM is people, one hundred percent! At PGGM, you can count on:

• A pleasant workplace at our office in Zeist, and from the end of 2027, in the heart of Utrecht.
• Depending on your level of prior experience a competitive salary.
• A thirteenth month’s salary.
• A solid pension plan as a participant in the PFZW pension fund (71% paid by PGGM, 29% by the employee).
• An annual Fit for the Future budget of €300 net, which you can use to improve your mental, physical, or financial fitness.
• A generous training budget for internal and external courses or education.
• More than 26 vacation days (employees can choose to exchange up to two national Christian holidays for days that are important to them).
• Flexibility in working hours and remote working opportunities.
• A net internet allowance of €45 per month (€540 per year).
• Group discounts on supplementary health insurance (21% in 2024) and dental insurance (15% in 2024).
• A remote working policy with reimbursement of up to €900 including VAT to set up an ergonomically sound home office.
• More information about our employment conditions and salary scales can be found in onze CAO.

Do you have questions? Please contact recruiter Meryem el Ajjouri at meryem.el.ajjouri@pggm.nl.

Information about the application procedure can be found on our website.