CMBS New Issuance – Associate / Associate Director (NY / Chicago)

Kroll Bond Rating Agency, Inc.; New York, Chicago (NY, IL); Hybrid; USD 100,000 - 150,000; Full time

Benefits offered by this job

Hybrid schedule

Benefits and PTO

Family and disability leave

401(k) match

Education support

Referral bonus

Job summary

Kroll Bond Rating Agency is seeking an experienced CRE credit analyst to join its CMBS New Issuance team in New York or Chicago. You will lead end-to-end transaction analysis, conduct property cash flow and loan reviews, and present findings to senior management and external clients.

The role requires 3+ years (Associate) or 5+ years (Associate Director) of CRE underwriting, strong Excel skills, and clear communication. KBRA offers hybrid work, competitive benefits, and development opportunities.

Qualifications

• Bachelor’s degree in a relevant field; advanced degree and CFA progression are pluses.
• 3+ years CRE debt underwriting or CMBS securitization for Associate; 5+ years for Associate Director.
• Credit/underwriting experience across multiple CRE property types.
• Proficient in Excel and strong written/oral communication.
• Ability to manage multiple tasks with compressed timelines; collaborative work style.
• Familiarity with Generative AI tools is a plus.

Responsibilities

• Conduct CRE property cash flow and loan analysis.
• Lead end-to-end transaction execution.
• Present and defend analysis to senior managers and committees, and externally to banks.
• Lead preparation of externally published transaction reports.
• Manage processes with multiple internal/external parties and workstreams.
• Conduct property site inspections across the U.S.

Skills

CRE underwriting

CMBS securitization

Excel analysis

Strong communicator

Detail oriented

Multi-tasking

AI tools familiarity

Education

Bachelor's degree

CFA candidate

Advanced degree

Tools

Excel

ChatGPT

Job description

CMBS New Issuance – Associate / Associate Director (NY / Chicago)

New York, New York or Chicago, Illinois

Position Title: CMBS New Issuance - Associate / Associate Director (NY/ Chicago)

Entity: Kroll Bond Rating Agency, LLC

Employment Type: Full-time

Location: New York, NY or Chicago, Illinois

Summary/Overview

Kroll Bond Rating Agency (KBRA)is seeking an experienced Commercial Real Estate (CRE) credit analyst to join its industry-leading commercial mortgage-backed securities CMBS New Issuance ratings group in its New York or Chicago office. Analysts in the group are responsible for transaction execution, including conducting credit analysis, authoring published reports, and presenting analysis for the assignment of credit ratings to conduit, single-borrower, CRE CLO, single-family rental, and other types of CMBS transactions.

About the Job

• Conduct commercial real estate (CRE) property cash flow and valuation, and loan credit analysis in accordance with KBRA’s methodologies across all CRE property types.
• Lead end-to-end execution of transactions, including:
• Conducting property, loan and transaction level credit analysis
• Presenting and defending the analysis internally to senior managers and in credit/ratings committees, and externally to banks
• Leading preparation of externally published comprehensive transaction reports
• Managing the process that involves multiple internal and external parties and work-streams
• Conduct property site inspections throughout the U.S. and related management meetings

You will be successful in this role if you have:

• Bachelor’s degree in a relevant field of study. Advanced degree and successful progression towards the CFA designation are pluses
• Three (3) + years of relevant CRE debt underwriting or CMBS securitization experience for Associate level required
• Five (5) + years of relevant CRE debt underwriting or CMBS securitization experience for Associate Director required
• Credit / underwriting experience across multiple CRE property types
• Proficient in conducting extensive analysis in Excel
• Possess strong oral and written communications skills
• Exceptional attention to detail, with a strong commitment to quality
• Ability to multi-task and manage through multiple compressed timelines. Be able to work both independently and in a highly collaborative inter-dependent team environment
• Familiarity with Generative AI tools such as ChatGPT for research, data insights, and general productivity is a plus

Salary Range

The anticipated annual base salary range for this full-time position is $100,000 to $150,000. Offer amounts are determined by factors such as experience, skills, geography, and other job-related factors.

• A hybrid work schedule (Tuesday, Wednesday, Thursday in the office)
• Competitive benefits and paid time off
• Paid family and disability leave
• 401(k) plan, including employer match (100% vested)
• Educational and professional development financial assistance
• Employee referral bonus program

About Us

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority pursuant to the Temporary Registration Regime. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

More Info

KBRA encourages applications from all qualified individuals without regard to race, color, religion, gender, sexual orientation, gender identity or expression, age, national origin, marital status, citizenship, disability, and veteran status or any other basis prohibited by federal, state or local law.