Senior Credit Research Analyst – Barcelona We are looking for a Senior Credit Research Analyst to join our Credit Research team in Barcelona, sitting within Zurich's global Investment Management organisation. You will report directly to the Head of Credit Research and perform deep fundamental analysis across assigned sectors and issuers, working in close partnership with Portfolio Managers, local Heads of Asset Management, and CIOs across the EMEA Region.

You will maintain regular dialogue with the Management, Treasury and Investor Relations teams of covered issuers and cultivate a professional network spanning rating agency analysts, sell‑side credit and equity analysts, and DCM/syndicate desks. You will also play an active role in driving the Credit Research team's adoption of technology and best‑practice analytical frameworks.

Responsibilities

Analyse the financial profile of credit issuers held, or considered for inclusion, across Zurich's investment portfolios.

Assess issuers' financial performance, business characteristics, capital structure, credit rating dynamics, governance, documentation and all other factors bearing on credit quality.

Deliver clear, well‑reasoned investment recommendations to support the portfolio management process.

Produce periodic credit opinions, ad‑hoc analyses and news‑flow assessments for issuers under coverage.

Develop deep sector expertise and act as a thought leader for the industries in which covered companies operate.

Generate instrument‑level investment ideas through rigorous quantitative analysis, communicated with conviction to investment teams.

Participate in weekly research and portfolio management calls,



contributing sector and issuer insight and informing broader market strategy discussions.

Respond promptly and proactively to ad‑hoc requests from Portfolio Management, Risk and other teams across the Investment Management organisation on credit quality matters.

Support Credit Research team initiatives to strengthen governance, controls and process efficiency.

Champion the application of technology and innovation across all team processes.

Work alongside experts in various technological domains.

Enhance your skills with real‑world experience.

Contribute to a team that values your input and creativity.

Qualifications

Bachelor's degree in Business Administration, Economics, Finance, Engineering or a related quantitative field; post‑graduate qualification in finance preferred.

CFA charterholder or progress towards the designation is an advantage.

Minimum five years of relevant experience in an investment bank, accounting firm, rating agency or institutional investor.

Thorough understanding of credit analysis, with the ability to conduct deep‑dive fundamental research on corporate issuers.

Expert knowledge of financial statement analysis, rating agency methodologies, and primary and secondary fixed‑income markets and instruments.





Solid grasp of portfolio management fundamentals and working knowledge of ALM investing.

Proficient in Bloomberg, Capital IQ and Excel; experience applying AI tools to quantitative analysis.

Fluent English, written and spoken, is essential; Spanish or other Western European languages are an advantage.

A collaborative team player with strong critical thinking skills, a proactive mindset and the ability to communicate complex analysis persuasively to both investment and business stakeholders.

Benefits

Competitive salary and yearly bonus.

Adaptable working model to support work‑life balance.

Over 300 euros to set up your home office and additional monthly home office allowance.

Wide range of internal and external trainings, including English and Spanish classes where needed.

Ticket restaurant and Health Insurance with flexibility to exchange it for other benefits.

Life and accident insurance.

Collective Life retirement Plan.

2000 referral bonus for bringing talented people to the company.

Special banking and insurance conditions plus exclusive employee discounts.

Functional diversity benefits.

Social club memberships such as hiking, investment, beach volley and many more.

Stock options and mortgage benefits.

Location

Via Augusta, Barcelona, Spain

Occasional travel to other European countries for conferences / company visits.

Schedule: Full Time

Recruiter: Laura Santamaría Rodríguez

Equal Opportunity Statement At Zurich, we are an equal opportunity employer. We attract and retain the best‑qualified individuals available, regardless of race/ethnicity, religion, gender, sexual orientation, age, or disability.

📌 Senior Credit Research Analyst (Madrid)
🏢 Zurich Insurance
📍 Madrid