Credit Analyst - Insurance

Role Overview: Star Health Insurance is looking for an experienced Credit Analyst with a strong background in corporate credit assessment and credit ratings, preferably with substantial experience working with a reputed credit rating agency. The incumbent will be responsible for evaluating the creditworthiness and debt-servicing capability of corporate issuers, conducting detailed financial and business-risk analysis, and providing independent credit views to support investment decisions across fixed-income and debt instruments. The role requires strong expertise in financial statement analysis, credit-rating methodologies, financial modelling, industry research and assessment of corporate debt instruments. Key Responsibilities: - Conduct comprehensive credit analysis of corporate issuers to assess their financial strength, creditworthiness and ability to service debt obligations. - Analyse audited financial statements, including Balance Sheet, Profit & Loss Statement, Cash Flow Statement and accompanying financial notes. - Evaluate key financial parameters including liquidity, profitability, leverage, capital structure, cash-flow adequacy, debt protection metrics, working-capital requirements and debt-servicing capability. - Build and review financial projections and cash-flow models to assess future financial performance and repayment capacity. - Conduct scenario analysis, sensitivity analysis and stress testing to evaluate issuer resilience under adverse business and financial conditions. - Assess an issuer's business risk, financial risk, management quality, industry position and overall credit risk. - Analyse the historical track record of issuers, including timely servicing of debt obligations and dependence on external funding. - Evaluate companies relative to industry peers and assess their competitive positioning, operating performance and long-term business fundamentals. - Assess credit risk associated with corporate bonds, Non-Convertible Debentures (NCDs), Commercial Papers (CPs), bank facilities and other fixed-income/debt instruments. - Understand and critically evaluate methodologies followed by domestic credit rating agencies and compare external ratings with internal credit assessment frameworks. - Track developments affecting issuer credit quality, including industry trends, interest-rate movements, macroeconomic developments and relevant regulatory changes. - Monitor existing credit exposures and identify early-warning indicators, rating migration risks and potential deterioration in issuer credit profiles. - Conduct management interactions and due diligence, where required, with senior management and other stakeholders such as lenders, bankers and auditors. - Prepare detailed credit assessment notes, issuer reviews and credit recommendations for internal investment/credit committees. - Present independent credit views and recommendations to senior stakeholders and relevant committees. Required Experience: - 10-15 years of relevant experience in corporate credit analysis, credit ratings, fixed-income research or institutional credit assessment. - Prior experience with a reputed Credit Rating Agency is mandatory. - Strong experience in evaluating medium and large corporate issuers. - Demonstrated expertise in corporate financial analysis, credit assessment and financial modelling. - Hands-on exposure to rating/assessing debt instruments such as Bonds, NCDs and Commercial Papers. - Strong understanding of domestic credit-rating methodologies and issuer-rating frameworks. - Exposure to credit assessment within an insurance company, mutual fund, asset management company, bank, NBFC or other institutional investment environment would be an advantage. Qualifications: - BE/B.Tech with MBA (Finance) and/or CFA preferred. - Candidates with strong professional finance qualifications such as CA/CFA or equivalent, coupled with extensive credit-rating experience, may also be considered.