Structured Finance - RMBS, Director - Chicago

Fitch Group; Chicago (IL); Hybrid; USD 125,000 - 170,000; Full time

Benefits offered by this job

Hybrid work environment

Learning & mobility programs

Retirement planning

Healthcare

Parental leave

Inclusive workplace

Volunteer days

Job summary

Fitch Ratings is seeking a Director to lead the RMBS group in Chicago, driving end‑to‑end analysis of complex RMBS transactions and presenting at rating committees. You will mentor analysts and manage issuer relationships while contributing to criteria enhancements.

You will oversee cash flow modeling, assess risk across credit, legal, and structural aspects, and translate market developments into analytical viewpoints. Hybrid work and leadership opportunities await.

Qualifications

• 8+ years of RMBS/ABS, mortgage credit, structured finance, or related roles.
• Bachelor’s degree required; advanced degree and/or CFA/FRM is a plus.
• Strong analytical and quantitative skills, cash flow modeling, large datasets.
• Excellent written and verbal communication; comfortable engaging senior stakeholders.

Responsibilities

• Lead primary and surveillance analysis of RMBS transactions, including collateral, structural, legal, and counterparty assessments.
• Own cash flow modeling, scenario design, and sensitivity analysis; oversee model deployment and interpretation.
• Present recommendations at rating committees and document decisions to a high standard.
• Develop criteria and contribute to methodology enhancements and thought leadership.

Skills

RMBS/ABS experience

Analytical skills

Cash flow modeling

Communication

Stakeholder engagement

Education

Bachelor's degree

Advanced degree (CFA/FRM)

CFA/FRM (certs)

Tools

RMBS cash flow engines

Loan-level analytics

Scenario analysis

Job description

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Structured Finance - RMBS, Director - Chicago

Location: Chicago, IL, US

As one of the world’s top three credit ratings agencies, Fitch Ratings plays a critical role in global capital markets by providing supplementary credit analysis, ratings, research, and commentary to financial market participants. For over 100 years, Fitch Ratings has been creating value for global markets through its rigorous analysis and deep expertise, which have resulted in a variety of market leading tools, methodologies, indices, research, and analytical products. Fitch Ratings is part of Fitch Group, a global leader in financial information services with operations in more than 30 countries, which also includes Fitch Solutions. With dual headquarters in London and New York, Fitch Group is owned by Hearst.

At Fitch Ratings, credit analysts play a pivotal role in moving markets, as quality credit analysis is the lifeblood of our organization. With a legacy of over a century, our unique approach to credit ratings offers unmatched opportunities for professional growth. Embracing a “challenger mindset,” you'll join a team dedicated to innovating service to our clients. Our people-driven analysis thrives on collaboration across all levels and locations, surpassing traditional financial modeling. Lastly, as part of our global community, you'll find inspiration, challenge, and support, with ample opportunities for visibility and influence in the global financial marketplace.

Fitch Ratings is seeking a Director to join the Residential Mortgage-Backed Securities Group (RMBS) in our Chicago office.

About the Team:

The U.S. RMBS group is seeking a Director to help lead transaction coverage and contribute to criteria, research, and market engagement. In this role, you will lead end‑to‑end analysis and presentation of complex RMBS transactions; independently assess credit, cash flow, legal, and structural risks; chair or present at rating committees; mentor junior analysts; engage with issuers, arrangers, and investors; and contribute to thought leadership and criteria enhancements.

How You’ll Make an Impact:

• Lead primary and surveillance analysis of RMBS transactions, including collateral, structural, legal, and counterparty assessments
• Own cash flow modeling, scenario design, and sensitivity analysis; oversee model deployment and results interpretation
• Present recommendations at rating committees; chair committees as needed and document decisions to a high standard
• Drive criteria application and contribute to criteria development and methodological enhancements
• Produce high‑quality research, market commentary, and issuer/investor communications
• Manage and deepen assigned issuer and transaction relationships; represent Fitch in external meetings and conferences
• Coach and review the work of junior and senior analysts to ensure analytical rigor and consistency
• Monitor market developments, performance trends, and regulatory changes; translate insights into analytical viewpoints

You May Be a Good Fit if:

• You have 8+ years of relevant experience in RMBS/ABS, mortgage credit, structured finance, or closely related capital markets roles
• You hold at least a bachelor’s degree; advanced degree and/or CFA/FRM is a plus
• You possess strong analytical and quantitative skills, including proficiency with cash flow modeling and large datasets
• You have excellent written and verbal communication skills and are comfortable engaging senior external stakeholders
• You thrive in a collaborative, fast‑paced environment and can manage multiple transactions and deadlines

What Would Make You Stand Out:

• Direct lead experience on RMBS new‑issue and surveillance mandates, including presenting or chairing rating committees
• Deep knowledge of U.S. mortgage products, origination/servicing practices, due diligence, and performance drivers
• Hands‑on experience with RMBS cash flow engines, loan‑level analytics, and scenario/sensitivity frameworks
• Demonstrated contributions to criteria, methodology consultations, or thought‑leadership publications
• Established relationships with RMBS issuers, arrangers, servicers, and investors
• Experience mentoring and reviewing the work of junior analysts; strong quality control and documentation discipline

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, 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 affirmatively 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 CHICAGO: Expected base pay rates for the role are between $125,000 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.