At a Glance
- Tasks: Conduct credit analysis and contribute to published research on European high yield issuers.
- Company: Join Deutsche Bank, a leading global bank committed to diversity and inclusion.
- Benefits: Enjoy hybrid working, competitive salary, 30 days holiday, and private healthcare.
- Other info: Embrace a culture of continuous learning and flexible benefits tailored to your needs.
- Why this job: Gain exposure to leveraged finance and work alongside senior analysts in a dynamic environment.
- Qualifications: Relevant experience in finance, strong analytical skills, and advanced Excel proficiency required.
The predicted salary is between 60750 - 74250 £ per year.
This job is with Deutsche Bank, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community.
Position Overview
The European High Yield Research team is looking for an Associate to join the team in London. This is a publishing research role offering broad exposure across the European leveraged finance market and the opportunity to work alongside senior analysts covering a diverse range of sectors. You will contribute to the team's fundamental credit research, financial modelling and published investment views. The role combines detailed company and industry analysis with the ability to translate complex financial and credit information into concise, differentiated and actionable research for institutional investors.
Your key responsibilities:
- Conduct fundamental credit analysis of European high yield issuers, assessing operating performance, business models, cash generation, liquidity, leverage and refinancing risk.
- Build and maintain detailed financial and credit models, forecasting revenue, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA).
- Analyse capital structures and debt documentation, including bonds, loans, revolving facilities, maturity profiles and key covenant considerations.
- Contribute to published research, including earnings updates, company and sector reports, new-issue analysis, thematic research and event-driven commentary, incorporating insights from results, management interactions, regulatory developments and corporate actions.
- Develop relative-value analysis across issuers and capital structures, balancing fundamental credit risk, catalysts and valuation, while supporting senior analysts across sectors.
- Maintain robust databases ensuring research meets applicable quality, compliance and regulatory standards.
Your skills and experience:
- Relevant experience in credit research, leveraged finance, investment banking, asset management, equity research, corporate finance, auditing/accounting, or a related analytical role; European leveraged finance or high yield experience is advantageous.
- A good understanding of financial statements, accounting and cash-flow analysis, with the ability to identify the factors most material to an issuer’s credit profile.
- Financial-modelling skills, including integrated forecasting of EBITDA, free cash flow, liquidity, leverage, interest coverage and debt capacity.
- Ability to understand complex capital structures, including high yield bonds and leveraged loans, numerical and attention-to-detail skills.
- Advanced Excel proficiency and a relevant bachelor’s degree or equivalent; familiarity with Bloomberg, FactSet or similar platforms.
- Proven ability to leverage AI tools to enhance productivity, optimise workflows to solve business problems, while applying critical judgment to ensure responsible and ethical use of data and AI outputs.
How we’ll support you:
- A culture of continuous learning to aid progression.
- A range of flexible benefits that you can tailor to suit your needs.
- We value diversity and as an equal opportunities’ employer, we make reasonable adjustments for those with a disability such as the provision of assistive equipment if required (e.g. screen readers, assistive hearing devices, adapted keyboards).
About us:
Deutsche Bank is the leading German bank with strong European roots and a global network. Deutsche Bank in the UK is proud to be named in The Times Top 50 Employers for Gender Equality and has been awarded a Proud Employer Trailblazer Status from Stonewall and named in their Top 100 Employers.
If you have a disability, health condition, or require any adjustments during the application process, we encourage you to contact our Adjustments Concierge at adjustmentsconcierge@db.com to discuss. For more information about our recruitment process and available adjustments, please visit our Hiring Experience page.
We strive for a culture in which we are empowered to excel together every day. This includes acting responsibly, thinking commercially, taking initiative and working collaboratively. Together we share and celebrate the successes of our people. Together we are Deutsche Bank Group. We welcome applications from all people and promote a positive, fair and inclusive work environment.
High Yield Research employer: Deutsche Bank
Deutsche Bank is an exceptional employer, offering a dynamic work environment in London that prioritises employee development and wellbeing. With a commitment to hybrid working, competitive salaries, and a range of flexible benefits, employees are empowered to balance their professional and personal lives while engaging in meaningful work within the Financial Institutions Group. The culture fosters continuous learning and inclusivity, ensuring that every team member has the opportunity to thrive and contribute to impactful projects.
StudySmarter Expert Advice🤫
We think this is how you could land High Yield Research
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Deutsche Bank. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace High Yield Research
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Deutsche Bank.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Deutsche Bank's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Deutsche Bank
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Deutsche Bank.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Deutsche Bank will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Deutsche Bank employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
