Funds Ratings - Associate / Associate Director (Chicago)

KBRA; Chicago (IL); Hybrid; USD 100,000 - 130,000; Full time

Benefits offered by this job

Hybrid work schedule

Competitive benefits and PTO

Paid family and disability leave

401(k) with employer match

Educational/professional development

Employee referral bonus

Job summary

KBRA, based in Chicago, seeks an Associate/Associate Director for the Funds Ratings team. You will support credit research on funds and investment vehicles, develop cash flow and asset coverage models, and help prepare internal memos and publications.

Ideal candidates have 4–8 years as a credit analyst, strong Excel/SQL/VBA skills, and a CFA progression. This hybrid, in-office schedule emphasizes collaboration and rigorous analysis in a fast-growing environment.

Qualifications

• Bachelor’s degree in Finance, Business, or Math with strong analytical skills.
• 4–8 years as a credit analyst with fund lending, investing or structured finance is a plus.
• Ability to work in a collaborative, cross-disciplinary team.
• Manage time and resources in a fast-growing company.
• Excellent oral and written communication skills.
• Proficiency in Advanced Excel; cash flow modeling a plus.
• Attention to detail and accuracy.
• SQL and VBA proficiency is advantageous.
• CFA progression is a plus.
• Familiarity with Generative AI tools like ChatGPT is a plus.

Responsibilities

• Assist with credit research on funds, closed-end funds, and other investment vehicles.
• Develop rating and analytical tools including cash flow and asset coverage models.
• Prepare and present internal credit memos and publications.
• Participate in diligence meetings with fund management teams.
• Develop and maintain complex spreadsheets and databases.
• Collaborate with KBRA experts across sectors such as project finance and structured finance.
• Assist in research for internal and publication purposes.
• Associate Directors may lead credit ratings processes and research on fund debt structures.

Skills

Advanced Excel

SQL

VBA

Financial analysis

Communication skills

Generative AI

CFA candidacy

Education

Bachelor’s degree in Finance/Business/Math

Job description

Funds Ratings - Associate / Associate Director (Chicago)

Position Title: Funds Ratings - Associate / Associate Director (Chicago)

Entity: Kroll Bond Rating Agency, LLC

Employment Type: Full-time

Location: Chicago, IL

Summary/Overview:

Kroll Bond Rating Agency, LLC. is seeking an Associate/Associate Director to join our growing Funds Ratings team in the Chicago office. The Funds team assigns and monitors credit ratings on various debt instruments issued by funds, closed-end funds, and other fund vehicles. KBRA’s growing ratings portfolio encompasses funds which leverage a variety of asset growth and income generation strategies including fixed income securities, private equity, private credit, real estate, and middle market lending. A strong candidate will have extensive experience and interest in fund investment and credit strategies.

About the Job:

• Assist with credit research on a variety of funds, closed-end funds, and other investment vehicles.
• Assist with the development of rating and analytical tools such as cash flow and asset coverage models used to evaluate fund debt structures.
• Assist in the quantitative and qualitative preparation and presentation of internal credit memos and publications.
• Participate in diligence meetings with fund management teams to assess their investment acumen, risk management skills, and overall ability to develop and successfully execute strategies.
• Develop and maintain complex spreadsheets and databases.
• Ability to leverage and seamlessly collaborate with KBRA experts in other sectors such as project finance, corporate finance, financial institutions, and structured finance.
• Assist in research for internal and publication purposes.
• Associate Directors will have the ability to independently lead credit ratings process and research efforts on a variety of debt transactions involving investment funds, and other related vehicles and to Lead/assist in the development of rating and analytical tools such as cash flow models used to evaluate fund debt structures.

You will be successful in this role if you have:

• Bachelor’s degree in Finance, Business, or Math related fields or any subject that results in strong analytical skills.
• Four (4) to Eight (8) years of work experience as a credit analyst with experience in fund lending, investing, or structured finance is a significant plus.
• Ability to work as an integral part of a highly collaborative team and across disciplines in a challenging and dynamic environment.
• Ability to manage time and resources in a fast-growing company.
• Effective oral and written communications skills.
• Proficiency in Advanced Excel, ability to cash flow model is a significant plus.
• Extremely high attention to detail.
• Proficiency in SQL and VBA for querying databases a strong advantage.
• Successful progression towards CFA a plus.
• 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 $130,000. Offer amounts are determined by factors such as experience, skills, geography, and other job-related factors.

• A hybrid work schedule (Tuesday, Wednesday and Thursdays 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.