Funds Ratings - Director (Chicago) Chicago, IL

Kroll Bond Rating Agency, Inc.; Chicago (IL); Hybrid; USD 140,000 - 170,000; Full time

Job summary

A leading credit rating agency is seeking a Director for their Funds Ratings team in Chicago. The role involves evaluating credit ratings for various fund instruments, conducting due diligence, and mentoring junior staff. Candidates should have extensive experience in fund finance and strong analytical skills. The position offers a hybrid work schedule and competitive benefits.

Benefits

Competitive benefits and paid time off

Paid family and disability leave

401(k) plan with employer match

Educational and professional development assistance

Employee referral bonus program

Qualifications

• 8+ years in fund finance or structured finance.
• Experience with private equity and real estate investment strategies.

Responsibilities

• Lead new issuance rating process and evaluate capital structures.
• Conduct due diligence meetings with issuers and managers.
• Prepare rating memos and recommendations for committees.

Skills

Analytical Skills

Communication

Interpersonal Skills

Education

Bachelor’s degree in Finance

Tools

Excel

Job description

Position Title: Funds Ratings - Director (Chicago)

Entity: Kroll Bond Rating Agency, LLC

Employment Type: Full-time

Location: Chicago, IL

Summary/Overview:

KBRA (Kroll Bond Rating Agency, LLC)is seeking a 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, and other fund vehicles.KBRA evaluates financing instruments that support fund operations, enhance liquidity, and optimize capital structures. These include subscription credit lines, which provide liquidity by bridging capital calls; NAV-based loans and credit facilities, which offer leverage against a fund’s portfolio assets; and feeder fund rated notes, which facilitate investment through debt instruments. KBRA’s growing ratings portfolio encompasses funds which leverage a variety of investment strategies including fixed income securities, private equity, private credit, direct lending, real estate, infrastructure and asset based financing. A strong candidate will have extensive experience and interest in fund investment and credit strategies and how funds operate, deploy capital, and generate cash flows.

About the Job:

• Lead new issuance rating process, including evaluating key factors including an issuance’s capital structure, legal protection, collateral quality, cash flow dynamics and the manager’s experience and track record.
• Interact with issuers, conducting due diligence meetings with issuers and managers to assess their investment process, experience, risk management skills, and overall ability to execute strategies.
• Prepare rating memos and new issuance report and making recommendations to the rating committees.
• Lead ongoing monitoring and surveillance process and keep abreast of developments on the outstanding issuances and ratings.
• Develop and maintain complex spreadsheets and databases.
• Collaborate with KBRA experts in other sectors such as project finance, corporate finance, financial institutions, and structured finance to develop approaches to evaluating complex multi-assets strategies.
• Supervise and mentor junior team members to leverage their contributions while supporting their development of analytical and professional skills.
• Lead or assist with the development of analytical tools to standardize rating approaches and streamline new issuance and surveillance processes.
• Represent KBRA at industry conferences, panels, and investor meetings, engaging with market participants to share insights on fund ratings and credit trends.
• Assist with in-depth credit research and publications on new development, trends or topical subjects related to funds.

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.
• Eight (8) or more years of work experience in fund finance, investing, or structured finance.
• Experience with investment strategies in private equity, private credit, real estate, infrastructure, and asset-based lending facilities.
• Understanding of subscription lines, NAV financing, hybrid facilities, rated feeders, or other fund finance products.
• Experience reviewing legal documents and strong understanding of liability structures, LTV/advance rates, payment priorities, and structural protections.
• Advanced Proficiency in Excel is required to build and analyze excel based financial models to assess asset cash flow projections, and debt repayment under stress scenarios
• Ability to assess creditworthiness of funds, assets, and counterparties; understanding how this applies to rating methodologies is a plus.
• Strong verbal and written communication skills to prepare clear, concise, and well-reasoned credit memos and reports and present them to committees in an efficient manner.
• Strong interpersonal skills to work as an integral part of a highly collaborative team and across disciplines in a challenging and dynamic environment and effectively manage internal and external relationships.
• CFA or interest in obtaining CFA a plus
• Ability to manage time and resources in fast-growing company.
• 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 $140,000 to $170,000. 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.

#LI-HYBRID

Apply for this job

*

indicates a required field

First Name *

Last Name *

Email *

Phone *

Resume/CV *

Enter manually

Accepted file types: pdf, doc, docx, txt, rtf

Enter manually

Accepted file types: pdf, doc, docx, txt, rtf

Address

LinkedIn Profile

How soon are you available to start a new role? *

Are you presently authorized to work for KBRA in the United States? * Select...

Will you require sponsorship to obtain, maintain, or extend current or future U.S. employment/work authorization? * Select...

Are you willing to work in our Chicago office? * Select...

What are your base salary expectations and total compensation expectations? (Please specify and please provide a number or range) *

Were you referred by a current KBRA employee? If yes, then please indicate the specific KBRA employee. If no, then please say N/A. *

By clicking Submit Application, you acknowledge that you have read the KBRA Privacy Statement, KBRA Europe and UK Employee Data Privacy Notice, and Privacy Notice to California Employees, as applicable, as well as the Greenhouse Privacy Policy. * Select...