RMBS - Associate Director (NY)

KBRA•New York, NY

9d•$120,000 - $160,000•Hybrid

About The Position

KBRA (Kroll Bond Rating Agency) is seeking an Associate Director to join our Residential Mortgage-Backed Security (RMBS) team in the New York, NY 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. 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. 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. 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.

Requirements

B.A./B.S. degree required; MBA or CFA are a plus.
5+ 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.

Nice To Haves

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.

Responsibilities

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.