---
title: 'Alternative Credit Analyst at Rothesay'
canonical: 'https://feeny.ai/job/alternative-credit-analyst-rothesay-new-york-dpkp87a1adn5'
type: 'job'
last_seen: '2026-09-26'
---

# Alternative Credit Analyst at Rothesay

- **Company:** Rothesay
- **Location:** New York, NY
- **Posted:** 2026-05-28
- **Last confirmed live:** 2026-09-26
- **Apply:** https://job-boards.greenhouse.io/rothesaylife/jobs/8568794002

## Job description

Rothesay is the UK’s largest pensions insurance specialist, purpose-built to protect pension schemes and their members’ pensions. With over £74 billion of assets under management, we secure the pensions of nearly one million people and pay out, on average, approximately £355 million in pension payments each month.

Rothesay is dedicated to providing excellence in customer service alongside prudent underwriting, a conservative investment strategy and the careful management of risk. We are trusted by the pension schemes of some of the UK’s best known companies to provide pension solutions, including British Airways, Cadbury’s, the Civil Aviation Authority, the Co-Operative Group, National Grid, NatWest, Morrisons and Telent.

At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.

Job title:          Alternative Credit Analyst

Reports to:     Head of US Alternative Credit

Location:        New York City, NY

Salary:            $150,000 - 220,000 base + competitive benefits package (including discretionary bonus)

Job Responsibilities:

Deal evaluation

- Conduct detailed credit analysis and underwriting of illiquid lending opportunities in US investment grade credit markets, including identification and assessment of risks and running scenario analyses. Transactions cover a diverse range of asset classes across Fund Finance, Structured Finance and illiquid high-quality IG corporate opportunities
- Analyse loan structures and covenant packages
- Propose appropriate debt pricing supported by relative value and other financial analysis, including creating and using bond pricing models
- Build and run financial models to analyse investment opportunities, test assumptions and run sensitivities
- Prepare detailed investment and credit committee papers which concisely present the opportunity, clearly identify and assess the risks of the deal and present appropriate loan and internal metrics for consideration
- Participate in presentation of investment committee papers to committee of senior decision makers
- Liaise with internal and external parties as required to complete the analysis on a potential deal and prepare investment and credit committee papers

Deal execution

- Support the closing of debt transactions
- Review due diligence reports and robustly challenge assumptions and conclusions to ensure that the due diligence process has been thoroughly completed and potential risks identified
- Review and input into commercial aspects of the loan agreement and ensure that the loan document reflects commercially agreed position
- Prepare and participate in presentation of final credit committee papers incorporating final risk assessment and significant findings of due diligence
- Demonstrate strong commercial judgement and project management skills to assist in the management of internal parties involved in the loan execution process as well as 3rd party advisors and borrowers

Skills and Experience Required:

Shortlisted candidates will be able to demonstrate large loan deal evaluation and execution experience in a top tier financial services firm, as evidenced by:

- Two to six years’ experience in a deal evaluation, execution or credit underwriting role, preferably focussed on US Alternative Credit or Structured Finance markets
- Strong Education background: Bachelor’s degree (or higher) from a leading university in a relevant highly quantitative degree such as mathematics, economics, finance, or related scientific area
- Excellent financial modelling skills with ability to build advanced models
- Experience in conducting due diligence for deal execution
- Experienced user of core Office applications including Excel, experience with Bloomberg beneficial
- Investing in debt or hard assets with NPL / workout experience beneficial
- Strong prioritization, organization and time management skills
- Must be legally authorized to work in the United States. The company will not sponsor applicants for work visas for this position.

-

Must be legally authorized to work in the United States. This position is not eligible for visa sponsorship

Disclaimer: This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of duties. The role shall be performed within a professional office environment. Rothesay actively promotes diversity and inclusivity in accordance with and subject to all applicable laws. We know that our success depends on our people and that by nurturing a culture that values each individual and their differences, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age etc.

## About Rothesay

## Company Overview
- **One-liner**: Rothesay is the UK’s largest pensions insurance specialist, securing the pension benefits of nearly one million people through bulk annuity buy-ins and buy-outs.
- **Entity Type**: Private (owned by institutional investors GIC and MassMutual; valued at £5.75bn in September 2020)
- **Headquarters**: London, United Kingdom
- **Founded**: 2007 (founded by Blackstone)
- **Founders**: Not publicly disclosed; originally a Blackstone portfolio company

## Core Business
- **Primary industry**: Pensions insurance / risk transfer
- **Target customers**: UK defined-benefit pension schemes (trustees and sponsors) – enterprise B2B
- **Mission/purpose**: “To secure the future for every one of our policyholders, defined by absolute focus on security, real-time risk management, and a meticulous approach.”

## Products & Services
- **Bulk Annuity Buy-Ins / Buy-Outs**: Insurance contracts that transfer pension scheme liabilities to Rothesay, securing members’ benefits. The company has completed some of the largest UK transactions, including a £12bn reinsurance deal with Prudential (2023) and a £4.7bn full buy-out of the GEC 1972 Plan (2024).
- **Pension Risk Transfer Advisory**: As a specialist, Rothesay works directly with pension schemes to design de-risking solutions.
- **Asset Management**: Over £73bn assets under management, invested with a risk-averse, safety-first approach.

## Market Standing
- **Valuation/Market Cap**: £5.75bn (valuation as of September 2020, when GIC and MassMutual acquired Blackstone’s stake)
- **Key Metric**: £73bn+ assets under management; new business premiums of £5.2bn in 2025 (down from £12.7bn in 2023)
- **Notable Investors/Partners**: GIC (Singapore sovereign wealth fund) and MassMutual (US mutual life insurance company) are joint owners
- **Growth Signals**: 
  - Nearly one million pensions protected (surpassed after acquiring Scottish Widows’ bulk annuity portfolio in March 2024)
  - Completed 12 de-risking transactions in 2023, one of its strongest years
  - First insurer to achieve PASA accreditation for policyholder experience
  - Launched a Net Zero by 2050 pathway and published annual ESG reports

## Competitive Advantages
- **Scale and expertise**: Largest specialist insurer in the UK bulk annuity sector, with a track record of executing the biggest and most complex transactions.
- **Risk management culture**: “Security is our first priority” – a risk-averse investment philosophy and real-time risk monitoring.
- **Operational excellence**: High customer satisfaction (96% of policyholders rated service “good” or “excellent” in 2025) and regulatory trust.
- **Proprietary technology**: Uses quantitative and data-driven approaches (e.g., roles for Quantitative Engineers, StratOS Developers) to price and manage risk efficiently.

## Strategic Focus
- **Continued market leadership**: Pursue further large-scale pension risk transfer deals (e.g., £5.2bn new business in 2025).
- **Net Zero commitment**: Transitioning investment portfolio to net-zero greenhouse gas emissions by 2050.
- **Expansion through acquisitions**: Acquired Paternoster (2022) and MetLife Assurance Limited (2018) to grow the in-force portfolio.
- **Talent and innovation**: Recruiting quantitative and tech talent to build internal platforms like StratOS.

## Why Work Here
- **Culture**: Described as “multi-talented, multi-disciplined” with a focus on “original thinking, real care.” The company values collaboration, creativity, and rigour.
- **Work policy**: London-based office roles; hybrid likely (not explicitly stated, but roles list London location). Onsite gym available.
- **Benefits**:
  - 25 days annual leave (rising to 28 after 5 years)
  - Non-contributory pension of up to 11%
  - Enhanced parental leave (including fertility support and neonatal care)
  - Private health insurance (UK cover including dental)
  - Virtual GP service (Doctor Care Anywhere)
  - Cycle to Work scheme (up to £10,000)
  - Wellness subsidy (onsite gym or Gymflex)
  - Emergency family care
  - Speaker series with world-leading experts
- **Engineering/career development**: Graduate and internship programmes; roles in quantitative engineering, senior infrastructure, data science, and actuarial. Emphasis on ability over years of experience.

## Sources
1. [rothesay.com](https://www.rothesay.com/about-us/) – About Us, history, key metrics, ESG
2. [rothesay.com](https://www.rothesay.com/about-us/working-here/careers/) – Careers overview, graduate programs
3. [rothesay.com](https://www.rothesay.com/about-us/working-here/) – Benefits and culture
4. [greenhouse.io](https://boards.greenhouse.io/rothesaylife) – Current job openings (10 roles)
5. [rothesay.com](https://www.rothesay.com/about-us/working-here/careers/open-positions/) – Detailed job listings

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