Structured Finance - Commercial-Backed Securities, Senior Analyst - Chicago

Fitch Group; Chicago (IL); Hybrid; USD 95,000 - 120,000; Full time

Benefits offered by this job

Hybrid work

Training program

Retirement plan

Healthcare

Parental leave

Inclusive culture

Volunteer days

Job summary

Fitch Ratings in Chicago seeks a Senior Analyst to join the CMBS team. You will identify credit strengths and risks in CRE properties, assess loan structures, and contribute to rating decisions.

The role requires 2–3 years in CRE underwriting or valuation, plus proficiency in Excel and Word, with the ability to manage multiple projects. Fitch offers a hybrid work model and comprehensive benefits.

Qualifications

• Hold a bachelor's degree.
• Have 2-3 years of experience in underwriting, valuing, or working out commercial real estate.
• Possess expertise in Excel and Word.

Responsibilities

• Identify and assess credit strengths and risks of commercial real estate properties and related loan structures in U.S. and Canadian CRE markets.
• Use quantitative skills to analyze property and loan level characteristics and industry trends.
• Communicate rating conclusions to credit committee.
• Publish detailed transaction reports, rating commentaries and research reports.

Skills

Analytical

Quantitative analysis

Multitasking

Education

Bachelor's degree

Tools

Excel

Word

Job description

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Structured Finance - Commercial-Backed Securities, Senior Analyst - Chicago

Requisition ID: 50641

Business Unit: Fitch Ratings

Category: Credit Analysis & Research

Location: Chicago, IL, US

Date Posted: Sep 15, 2026

Fitch Ratings is currently seeking a Senior Analyst to join the Commercial Mortgage-Backed Securities (CMBS) group in our New York or Chicago office.

About the Team:

• Fitch Ratings is a global company with a presence in over 30 countries, offering opportunities to work with diverse teams and clients from around the world
• An opportunity to be part of a team of analysts performing CRE analysis on securities loans
• Provide Fitch's opinions and perspectives to investors and other market participants on all North American CMBS transactions
• A team-oriented work environment

How You’ll Make an Impact:

• Identify and assess credit strengths and risks of commercial real estate properties, and the related loan structures in U.S and Canadian CRE markets, and property cash flow underwriting and valuations
• Use quantitative skills to analyze property and loan level characteristics and industry trends
• Communicate rating conclusions to credit committee
• Publish detailed transaction reports, rating commentaries and research reports

You May be a Good Fit if:

• Hold a bachelor's degree
• Have 2-3 years of experience in underwriting, valuing, or working out commercial real estate, excluding internships
• Possess expertise in Excel and Word
• Demonstrate strong analytical, quantitative, and organizational skills with the ability to multitask
• Are familiar with commercial property types
• Can shift fluidly between multiple projects as priorities change

What Would Make You Stand Out:

• Securitization or capital markets experience a plus
• Loan workout and/or lending experience a plus

Why Choose Fitch:

• Hybrid Work Environment: 3 days a week in office required based on your line of business and location
• A Culture of Learning & Mobility: Dedicated trainings, leadership development, and mentorship programs designed to ensure that your time at Fitch will be a continuous learning opportunity
• Investing in Your Future: Retirement planning and tuition reimbursement programs that empower you to achieve your short and long-term goals
• Promoting Health & Wellbeing: Comprehensive healthcare offerings that enable physical, mental, financial, social, and occupational wellbeing
• Supportive Parenting Policies: Family-friendly policies, including a generous global parental leave plan, designed to help you balance career and family life effectively
• Inclusive Work Environment: A collaborative workplace where all voices are valued, with Employee Resource Groups that unite and empower our colleagues around the globe
• Dedication to Giving Back: Paid volunteer days, matched funding for donations, and ample opportunities to volunteer in your community

Fitch is committed to providing global securities markets with objective, timely, independent and forward-looking credit opinions. To protect Fitch's credibility and reputation, our employees must take every precaution to avoid conflicts of interest or any appearance of a conflict of interest. Should you be successful in the recruitment process at Fitch Ratings you will be asked to declare any securities holdings and other potential conflicts prior to commencing employment. If you, or your immediate family, have any holdings that may conflict with your work responsibilities, you may be asked to divest yourself of them before beginning work.
Fitch is proud to be an Equal Opportunity and Aff

We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.

FOR NEW YORK: Expected base pay rates for the role are between $95,000 and $110,000 per year. Actual salaries will be determined on an individual basis and may vary based on factors including, but not limited to, education, training, experience, past performance, and other job-related considerations. Base pay is one component of Fitch's total compensation package, which may also include commission earnings, discretionary bonuses, long-term incentives, and other benefits sponsored by Fitch, depending on the position.