Senior Consumer Analyst, Frontier Africa at Stanbic IBTC

Job ID: 50194
Location: Lagos Island, Lagos
Job Sector: Banking

Job Details

• Our international team provides trading, sales, structuring and risk management solutions for our clients across global financial markets. This includes FX, commodities, equity, credit, fixed income and debt instruments. We also offer market insight, trading services, analytics and new financial products across a number of asset classes.

Job Purpose

• The client facing role of Senior Consumer Analyst, Frontier Africa resides in the CIB/Equity Research at Stanbic IBTC and services institutional investor (asset managers) clients of Standard Bank across key capital markets in North America, UK/Europe and Africa. In future this client base maybe expanded into the Middle East and Asian regions.
• The main purpose of the role is to establish and maintain a leading equity research franchise for coverage of the consumer sectors in frontier markets across Sub Saharan Africa. Although it is envisaged that the role spans across the ‘pan-Africa’ region, the Analyst’s own primary coverage will be concentrated in Nigeria and the West Africa region. Consumer sectors include the Beverages, Staples, Food Processing and Agri sub-sectors. The primary coverage universe will consist of about 10-13 stocks, while wider pan Africa coverage may expand to about 20 stocks.
• The following shares are envisaged to be part of the primary investment domain: Nestle Nigeria, Cadbury Nigeria, Unilever Nigeria, PZ Cussons, UAC, Flour Mills Nigeria, Dangote Flour Mills, Honeywell Flour Mills, Dangote Sugar, Nigeria Breweries, Guinness Nigeria. Co-Coverage to include: East-Africa Breweries (EABL), Bralirwa, Tanzania Breweries, Delta Breweries.
• The main purpose of the equity analyst function is to advise institutional investors on the investment and divestment opportunities. A successful execution of the job steers client trade and a commission stream via the dealing platform of the broker. This advisory function is fulfilled through regular publication of investment ideas, company and sector updates, marketing of ideas and the organisation of conferences and other corporate access activities. In addition, we anticipate that an analyst builds a network of executive contacts and, within the global regulatory framework, generates observations and ideas that may assist the primary capital teams of the bank.
• As Senior Consumer Analyst the person will have input into the performance management of team members, the development of team product and franchise, and the leveraging off that franchise to the wider benefit of stakeholders across the bank.

Key Responsibilities/Accountabilities
Establish and grow a leading research franchise across relevant Consumer sectors, including the coverage and product strategy for the sector:

• Facilitate the monetisation of the research franchise.
• Enhance the performance and develop the competencies of Consumer analysts.
• Ensure publications are compliant with global distribution regulations, notably for USA, UK, EU and South Africa.
• Liaise with several stakeholders to optimise the impact of research.
• Ensure a cost effective delivery of research product and research franchise.
• Establish guidelines, processes and culture to optimise monetisation of investment ideas.
• Manage and mentor team of equity analysts based in Lagos and Nairobi.
• Responsible for about 14-17 stocks under coverage in analyst capacity and around 25 considering Pan Africa team coverage universe.
• Build effective but objective relationships with company management teams.
• Market views externally and internally, servicing approximately 10 Nigeria and around 40 international accounts.
• On an ad-hoc basis, support ECM via investor educational research & input into idea generation corporate-finance requirements
• Represent house views on Consumer sector trends and developments in the media.

Develop commercial and differentiated team product and drive marketing schedules:

• Write insightful and impactful research that results in a product suite that encompasses sector and company notes, thematic and periodical publications, commentary on news flow and the impact on share valuations.
• Provide corporate access to link executives of corporations and other decision- and opinion-makers to investment managers. Corporate access can consist of conference calls, exclusive small-scale management meetings, conference organisation, investor tour organisation, reverse roadshows (offshore investors visiting region) and non-deal roadshows (NDRs eg whereby the bank organises an investor roadshow for management). Such activity benefits the analyst franchise and showcases the “execution abilities” of the bank.

Liaise with several stakeholders to optimise the impact of research:

• Inform and work with Sales & Trading, within the compliance framework, to optimise the marketing and execution of investment ideas.
• Pass interesting and commercial ideas to counterparts in CIB for instance in ECM, DCM, M&A and broader corporate finance functions. These ideas can include but are not confined to capital raising, debt restructuring, buy-backs, mergers, consolidation and other deal ideas, balance sheet restructuring, forex solutions, structured solutions, etc.
• Success in identifying primary capital market opportunities for the bank and quality of investor educational publications that complement the bank’s role in capital-raising events.
• Internal feedback from Sales & Trading stakeholders and other internal interest groups.

Preferred Qualification and Experience

• First Degree in Economics, Accounting or Engineering
• MBA or MSc will be an added advantage
• Professional qualification such as CFA, ACCA will also be an added advantage
• Minimum of 7 years’ experience in Equity Research
• Minimum of 5 years’ experience in Finance, Audit, Advisory, Equity Capital Markets or Debt Capital Markets

Knowledge/Technical Skills/Expertise
Technical Competencies:

• Investment Analysis
• Company Valuations
• Financial Modelling