Fitch Ratings is currently seeking a Senior Analyst or Associate Director, Fis – Spanish Banks based out of our Madrid office.

As one of the world’s top three credit ratings agencies, Fitch Ratings plays a critical role in global capital markets by providing supplementary credit analysis, ratings, research, and commentary to financial market participants. For over 100 years, Fitch Ratings has been creating value for global markets through its rigorous analysis and deep expertise, which have resulted in a variety of market leading tools, methodologies, indices, research, and analytical products. Fitch Ratings is part of Fitch Group, a global leader in financial information services with operations in more than 30 countries, which also includes Fitch Solutions. With dual headquarters in London and New York, Fitch Group is owned by Hearst.

At Fitch Ratings, credit analysts play a pivotal role in moving markets, as quality credit analysis is the lifeblood of our organization. With a legacy of over a century, our unique approach to credit ratings offers unmatched opportunities for professional growth. Embracing a “challenger mindset,” you'll join a team dedicated to innovating service to our clients. Our people-driven analysis thrives on collaboration across all levels and locations, surpassing traditional financial modeling. Lastly, as part of our global community, you'll find inspiration, challenge, and support, with ample opportunities for visibility and influence in the global financial marketplace.

Want to learn more about a career as a credit analyst at Fitch Ratings? Visit: https://careers.fitch.group/content/Credit-Analysts/

About The Team

The Fitch Ratings Financial Institutions Group has actively built the agency into the global leader in bank credit rating coverage. Our experienced analysts provide comprehensive, timely and transparent coverage of major institutions around the world, as well as unparalleled coverage of smaller companies. Our analysts offer a diversity of talent and backgrounds, with experience in regulatory oversight, counterparty analysis, auditing, investment banking, buy-side investing and more.

How You’ll Make An Impact

• Monitoring a portfolio of issuer ratings, including the preparation of rating committee materials
• Analysis of financial institutions sector and individual banks data, update of financial excel-based tools and charts
• Writing and publishing of comprehensive rating reports on individual issuers
• Participation in credit rating committees for banks in the allocated region and other countries
• Regular interaction with contacts at issuers and with issuers’ senior management at rating meetings
• Participation in the publication of sector-specific research and commentary, including preparation of peer data, country snapshots and sector background information
• Assist as needed in the coverage of other banks in the portfolio; including working with other team members to prepare committee materials, peer tables or analytical tools, reviewing annual and interim accounts and completing ad-hoc data requests
  
  

You May Be a Good Fit If

• Proven analytical experience (ideally between 4 and 6 years), ideally in credit- or audit-related fields, gained from working at a commercial/investment bank, accountancy firm, buy-side firm, regulatory authority, rating agency, or similar.
• Background in either financial institutions or corporate credit analysis. Experience in bank analysis and banking regulation is desirable.
• Excellent demonstrable written and verbal communication skills in Spanish (native level) and English are essential.
• Ability to work independently as well as being a good team player.
• Ability to cope with time pressure and work to deadlines.
• Strong writing and communication skills as well as strong command of financial statement analysis.
• Proficient in Excel
• A drive for innovation and appetite to find smart ways to implement AI into daily analytical tasks.
  
  

This position will involve occasional travel, primarily within Europe.

What Would Make You Stand Out

• Knowledge of another European language such as Portuguese is desired but not essential.
• University degree level, preferably with professional qualifications (such as CFA).
  
  

Why Choose Fitch

• Hybrid Work Environment: 3 days a week in office required
• A Culture of Learning & Mobility: Dedicated trainings, leadership development and mentorship programs designed to ensure that your time at Fitch will be a continuous learning opportunity
• Investing in Your Future: Retirement planning and tuition reimbursement programs that empower you to achieve your short and long-term goals
• Promoting Health & Wellbeing: Comprehensive healthcare offerings that enable physical, mental, financial, social, and occupational wellbeing
• Supportive Parenting Policies: Family-friendly policies, including a generous global parental leave plan, designed to help you balance career and family life effectively
• Inclusive Work Environment: A collaborative workplace where all voices are valued, with Employee Resource Groups that unite and empower our colleagues around the globe
• Dedication to Giving Back: Paid volunteer days, matched funding for donations and ample opportunities to volunteer in your community
  
  

At Fitch, AI is embedded in how we work every day—supporting smarter decision-making, streamlining workflows, and enabling new ways to create value for our business and clients. Intelligent solutions are increasingly part of our day-to-day operations, helping teams work more efficiently and think differently as we continue to evolve. We’re looking for colleagues who are comfortable operating in an AI-enabled environment—or who are curious, adaptable, and eager to build their AI literacy over time. We value professionals who embrace technology as part of continuous learning and who are committed to using it thoughtfully to enhance how work gets done.

Fitch is committed to providing global securities markets with objective, timely, independent and forward-looking credit opinions. To protect Fitch’s credibility and reputation, our employees must take every precaution to avoid conflicts of interest or any appearance of a conflict of interest. Should you be successful in the recruitment process at Fitch Ratings you will be asked to declare any securities holdings and other potential conflicts prior to commencing employment. If you, or your immediate family, have any holdings that may conflict with your work responsibilities, you may be asked to divest yourself of them before beginning work.

Fitch is proud to be an Equal Opportunity and Affirmative Action Employer. We evaluatequalified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.