Senior Analyst or Associate Director - EMEA Utilities and Project Finance Ratings

About the Role

Grade Level (for internal use): 12. Job Final date to receive applications:
June 19, 2026 - 17:00 BST / 18:00 CET.

We are looking for a highly skilled and motivated individual to join our EMEA Utilities Ratings group at the Senior Analyst or Associate Director level. The team's focus is on fundamental credit analysis of both regulated and unregulated utilities businesses in EMEA across the gas, electricity, waste, and water sectors, and also on project‑finance ratings related to power and utilities.

The successful candidate will assume direct analytical responsibility for a portfolio of credits in the region, conduct meetings with management, prepare analysis, and present rating recommendations to the committee. You will also be expected to contribute to the group's research and publishing efforts, cooperating with other S&P Global Ratings groups.

• Diverse mix of analytical challenges
• Lead on sectorial or regional publications
• Cooperate with analysts globally
• Interact with large utilities’ top management teams
• Engage financial intermediaries such as bankers, arrangers and advisors
• Work on projects related to criteria development

• Manage analytical processes for a rating portfolio of credits and support day‑to‑day team activities, notably data gathering.
• Perform comprehensive credit analysis using critical thinking and deep understanding of financial statements and accounting principles to identify key factors affecting issuer credit ratings.
• Lead new transaction and issuer ratings analysis; deliver timely, orderly, and insightful outcomes.
• Maintain up‑to‑date understanding of industry trends and external market dynamics to enhance operational success.
• Take responsibility for ratings as a primary analyst.
• Lead meetings and interact with senior management of issuers to gather information for credit rating decisions, building relationships with colleagues outside the immediate team.
• Prepare rating committee documentation, present findings and opinions to a credit rating committee.
• Prepare material for publication on the S&P Global Ratings credit portal and other media (rating trend reports, press releases, webinars, detailed commentaries).
• Maintain integrity of analytical or compliance‑related databases.
• All employees are required to work from the office a minimum of 2 days per week.

• Senior Analyst: 3–5 years of experience in financial analysis with strong analytical skills and deep understanding of financial statements and accounting concepts.
• Associate Director: 5+ years of experience in financial analysis.
• Numerical proficiency and accuracy with figures, detail‑oriented precision, and ability to manage multiple key projects with conflicting priorities.
• Advanced proficiency in developing, interpreting, and working with complex financial and cash‑flow models.
• Degree in a relevant business‑related field.
• Fluency in English (written and verbal).
• Effective communication skills across functions and levels; clear, persuasive expression.
• Capability to navigate challenging conversations with clarity and empathy and to actively listen to others.
• Collaboration skills to build trust and foster a shared purpose; judgment in defining and structuring work.
• Willingness to travel, sometimes on short notice.
• Requirement:
  Will attend at least one in‑person interview at the nearest S&P Global Ratings office before an offer can be made.

• Knowledge of the utilities or infrastructure sector.
• Prior experience with credit analysis of project‑finance transactions.
• Relevant Master’s degree, CFA, or other financial qualification.
• Ability to speak another European language (e.g., French, Spanish, German).

• Health & Wellness:
  Health care coverage designed for the mind and body.
• Flexible Downtime:
  Generous time off to keep you energized.
• Continuous Learning:
  Resources to grow your career and learn new skills.
• Invest in Your Future:
  Competitive pay, retirement planning, continuing education program with company–matched student‑loan contribution, and financial wellness programs.
• Family Friendly Perks:
  Perks for partners and children with best‑in‑class family benefits.
• Beyond the Basics:
  Retail discounts, referral incentive awards, and other small perks.
• For more information on benefits by country:

S&P Global is an equal‑opportunity employer and all qualified candidates will receive consideration for employment without regard to race/ethnicity, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, marital status, military veteran status, unemployment status, or any other status protected by law.