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RMBS - Associate / Associate Director (NY/Chicago)

New York, New York, United States and Chicago, Illinois, United States

Position Title: RMBS - Associate / Associate Director (NY/Chicago)

Entity: Kroll Bond Rating Agency, LLC

Employment Type: Full-time

Location: New York, New York or Chicago, Illinois

Summary/Overview:

KBRA (Kroll Bond Rating Agency) is seeking an Associate Director to join our Residential Mortgage-Backed Security (RMBS) team in the New York, NY or Chicago, Illinois office. The ideal candidate will have experience in RMBS 2.0 sectors such as Prime, Non-QM, and second-lien loans. Associate Directors on the RMBS team hold key roles engaging in all aspects of the rating process, which includes conducting collateral and cash flow analysis as well as preparing reports for publication.

About the Team:

Our RMBS team has issued ratings on securities from over 950 transactions spanning across Prime, Non-QM, GSE CRT, Reverse Mortgage, 2nd Liens, RPLs and more. Our primary objective is to issue high quality credit ratings and maintain them in a timely manner. This objective involves conducting asset credit risk analysis; liability structure scenario analysis; and publishing our viewpoints based on these analyses and our research. We pride ourselves on the quality, accuracy, timeliness, and consistency of our product.

About the Job:

  • Serve as lead analyst interacting with clients, structuring banks and investors on transactions.
  • Conduct loan pool analysis, modeling and analysis of bond structure, and review of legal structure and documentation.
  • Prepare/facilitate the preparation of credit memos and present transactions to rating committees.
  • Prepare presale and new issue reports.
  • Support surveillance efforts for existing transactions.
  • Attend and participate in seller/servicer due diligence, investor discussions, or industry events (which may require travel).
  • Mentor and foster the development of junior analysts, as necessary.

You will be successful in this role if you have:

  • B.A./B.S. degree required; MBA or CFA are a plus.
  • 3+ years of relevant Residential Real Estate, Rating Agency, or RMBS experience strongly preferred. Will consider candidates with compelling experience across ABS asset classes.
  • Strong analytical skills relating to transaction evaluation, including loan credit risk assessment and analysis of bond cash flows.
  • Intermediate to advanced Excel skills (Excel test may be administered as part of the interview process).
  • Proficiency with Intex cash flow modeling software.
  • Excellent written and verbal communications skills (writing sample may be requested).
  • Ability to take initiative, work independently, and work closely with partners in a collaborative environment. 
  • Exceptional attention to detail.
  • Familiarity with residential mortgage datasets/tools (e.g. CoreLogic, Fannie/Freddie Single Family Data, BlackKnight, eMBS) are 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 $150,000. Offer amounts are determined by factors such as experience, skills, geography, and other job-related factors.

Benefits:

  • A hybrid work schedule (Tuesday, Wednesday, Thursday 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.

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