Structured Finance - Commercial Mortgage-Backed Securities, Director - Chicago

Fitch Ratings; Chicago (IL); Hybrid; USD 150,000 - 170,000; Full time

Benefits offered by this job

Hybrid work

Learning & mobility

Retirement plan

Healthcare

Parental leave

Inclusive culture

Job summary

Fitch Ratings seeks a Director for the Commercial Mortgage-Backed Securities (CMBS) group to join in New York, Chicago, or London. Lead credit assessments of CRE assets, oversee cash flow underwriting, and guide quantitative analyses for sophisticated transactions.

You will present rating conclusions to senior committees, contribute to reports and research, and mentor a high-performing team in a hybrid work setting.

Qualifications

• Bachelor’s degree in finance, real estate, or related field.
• 8+ years of experience in CRE underwriting, valuation, or structured finance.
• Familiarity with data center transactions and tech real estate a plus.
• Strong cash flow modeling skills and ability to analyze complex structures.

Responsibilities

• Lead assessment of credit strengths and risks for CRE properties and loan structures in NA markets.
• Evaluate data center transactions and other complex real estate financings.
• Oversee property cash flow underwriting, valuation analyses, and cash flow waterfall modeling.
• Guide use of quantitative analyses for property- and loan-level characteristics, trends, and scenarios.
• Present complex rating conclusions to senior committees and stakeholders.
• Drive publication of transaction reports, rating commentaries, and research.

Skills

Leadership

Cash flow modeling

Financial analysis

Excel proficiency

Communication

Education

Bachelor’s degree in finance

Advanced degree preferred

Tools

Excel

Word

Financial modeling

Job description

Fitch Ratings is seeking a Director to join the Commercial Mortgage-Backed Securities (CMBS) group in our New York / Chicago / London office.

About The Team

Join a leadership team focused on strategic growth and innovation within the Commercial Real Estate (CRE) sector. Lead efforts to provide Fitch’s opinions and guidance to investors and market participants on North American Commercial Mortgage-Backed Securities (CMBS) transactions. Foster a collaborative and team-oriented work environment.

How You’ll Make An Impact

• Lea d the assessment of credit strengths and risks of commercial real estate properties and related loan structures in the U.S. and Canadian markets
• Added value in the ability to evaluate data center transactions and other complex real estate financings, incorporating an understanding of the technology-sector fundamentals driving demand and growth
• Oversee and enhance property cash flow underwriting, valuation analyses, and cash flow waterfall modeling
• Guide the team in using quantitative analyses to evaluate property- and loan-level characteristics, transaction structures, industry trends, and downside scenarios
• Apply creativity and sound credit judgment to analyze complex structures and develop efficient, practical analytical solutions
• Present and communicate complex rating conclusions to senior credit committees and stakeholders
• Drive the publication of comprehensive transaction reports, rating commentaries, and research publications

You May Be a Good Fit If

• You hold a bachelor’s degree, with a preference for an advanced degree in finance, real estate, or a related field
• You have more than eight years of experience in commercial real estate underwriting, valuation, structured finance, or related fields
• You have familiarity with data center transactions and an interest in the technology and infrastructure fundamentals shaping the sector
• You possess strong cash flow modeling skills, including the ability to analyze complex cash flow waterfalls and financing structures
• You possess strong leadership skills with a proven track record of managing and developing high-performing teams
• You demonstrate advanced expertise in Excel, Word, and financial modeling
• You have strong analytical, quantitative, and organizational skills, with the ability to manage multiple priorities
• You bring a creative, solutions-oriented mindset to understanding complex transaction structures and improving analytical processes
• You exhibit exceptional communication skills, including the ability to write clearly and persuasively

What Would Make You Stand Out

• Extensive experience in securitization, structured finance, or capital markets is a significant advantage
• Direct experience analyzing data center, digital infrastructure, or technology-related real estate transactions
• Proven experience in loan workouts and/or lending
• Demonstrated ability to influence and collaborate with senior stakeholders and clients

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

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 Affimative Action Employer. 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 $150,000 and $170,000 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.