Associate (NY, Chicago)

KBRA•New York, NY

3d•$75,000 - $95,000•Hybrid

About The Position

KBRA is seeking a credit analyst to join its Residential Mortgage-Backed Security (RMBS) team in the New York, NY or Chicago, IL office. The role is part of the transaction rating team and contributes to all stages of the rating process, from collateral analysis through publication of reports. Candidates should have RMBS experience, knowledge of the residential mortgage sector, or experience in a related field. The position performs transaction analysis, assists with credit memoranda and rating committee presentations, prepares transaction reports and market commentary, and conducts ongoing surveillance of rated transactions. It also involves participating in seller and servicer due diligence, which may require travel. The role is full-time and follows a hybrid schedule, with office attendance Tuesday through Thursday. The anticipated annual base salary range is $75,000 to $95,000. Offer amounts depend on experience, skills, geography, and other job-related factors. KBRA encourages applications from all qualified individuals without regard to protected characteristics or other bases prohibited by law.

Requirements

A B.A. or B.S. degree in a relevant field of study.
Analyst level: zero to two years of experience performing credit analysis in the RMBS sector at a rating agency, buy-side investor, credit research organization, or similar environment.
Senior Analyst/Associate level: at least two years of experience performing credit analysis in the RMBS sector at a rating agency, buy-side investor, credit research organization, or similar environment, or an advanced degree such as an MBA.
Strong Excel skills.
Strong oral and written communication skills.
Exceptional attention to detail.
Ability to take initiative, work independently, and collaborate closely with partners.

Nice To Haves

VBA, Python, R, or SQL skills.
Familiarity with residential mortgage datasets and tools such as CoreLogic, Fannie/Freddie Single Family Data, or Intex.
Familiarity with generative AI tools such as ChatGPT for research, data insights, and general productivity.

Responsibilities

Perform transaction analysis, including originator and servicer evaluation, loan pool analysis, bond structure modeling and analysis, and review of legal structures and documentation.
Assist in preparing credit memoranda and presenting transactions to rating committees.
Prepare and contribute to individual transaction reports for publication.
Assist in publishing market commentaries about topical events or research.
Conduct ongoing surveillance of rated transactions and update ratings as warranted.
Attend and participate in seller and servicer due diligence, including travel in some cases.