About the Role About the Role: Grade Level (for internal use): 12 About the Role S&P; Global Ratings' Sovereign and International Public Finance (Sov/IPF) team delivers independent credit analysis across ratings in Western and Southern Europe and Western Africa, covering sovereign, regional, and local governments and related entities.
Based in Madrid, you will take analytical ownership of a portfolio covering local and regional governments and government-related entities across Spain and other European countries — conducting site visits, leading timely rating surveillance, and presenting well-evidenced rating recommendations to credit committees.
This is a high-impact role at the intersection of public finance, macroeconomics, and market intelligence, with strong potential to shape how investors and policymakers understand European public sector creditworthiness.
What You'll Do Impact You will contribute to independent credit opinions that markets, governments, and investors around the world depend on.
Your analytical work will maintain the rigor and consistency of S&P; Global's sovereign and public finance ratings, your stakeholder engagement will strengthen S&P; Global's credibility across Europe, and your coaching of junior analysts will help build the lasting capability that sustains excellence across the team.
Responsibilities Team Contribution & Capability Building Act as a senior reference for junior analysts, coaching on credit fundamentals, financial modeling, data quality, and responsible AI use; coordinate portfolio workflows, proactively manage capacity and quality risks, and drive continuous improvement through refined processes and the governed rollout of new tools.




Core Analytical & Delivery Lead end-to-end credit analysis across a defined portfolio of sovereign and public finance credits, conducting site visits, leading surveillance, and presenting rating recommendations to credit committees with clear reasoning and validated evidence.
Use approved generative AI tools to accelerate research, comparisons, and drafting, maintaining rigorous validation and full accountability for all analytical outputs.
Stakeholder & Market Engagement Translate complex, data-informed research into market-facing narratives for issuers, investors, and market participants; build trusted stakeholder relationships and contribute to thought leadership with senior team input.
Risk Management & Operations Maintain strict adherence to methodology, confidentiality, and data governance in a highly regulated environment; accelerate emerging risks early and embed responsible AI practices throughout all workflows.
Required Skills and Experience Extensive experience in public finance analysis or a related analytical field, with strong skills in comparative economic and financial analysis, public policy, and financial markets.
Proven credit portfolio management skills, with a track record of delivering high-quality outputs with limited oversight and experience developing junior analysts through structured feedback and quality review.
Strong organizational skills, meticulous attention to detail, and the ability to manage multiple priorities in a regulated analytical environment.




Effective written and verbal communication skills for committee-ready documentation and senior-level engagement with issuers, investors, and market participants.
Practical experience embedding generative AI or large language model tools into analytical workflows, with disciplined governance, validation, and responsible use.
A continuous improvement mindset, with experience simplifying processes through standardization, tooling, or automation.
Spanish: Fluent (able to conduct meetings, collaborate effectively, and communicate clearly in writing and verbally) — Required.
English: Fluent (able to conduct meetings, collaborate effectively, and communicate clearly in writing and verbally) — Required.
Preferred or Helpful Experience An S&P; Global employee at this level would typically have 5 to 10 years of relevant experience in public finance, sovereign credit analysis, or a related analytical field.
Education: Bachelor's degree or equivalent required.
A master's degree or professional certification (such as CFA) is highly valued.
We welcome candidates from traditional finance disciplines as well as diverse academic backgrounds that support innovative and critical thinking.
Italian and/or French: Professional working proficiency (able to communicate clearly at work in everyday situations and write professional messages) — Preferred.
Willingness to travel within Europe for in-person meetings with issuers and stakeholders.
Additional Information We require all candidates who reach the final stage of our interview process to attend at least one in-person interview, which is ordinarily at your nearest S&P; Integral Ratings office.
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📌 Associate Director (España)
🏢 S&P Global Ratings
📍 España