CMBS - Director (London) at KBRA

Kroll Bond Rating Agency (KBRA) UK Limited is seeking a CMBS Director in London. This role involves assigning new ratings and providing surveillance on CMBS securitizations and other CRE-related transactions. The candidate will contribute to a dynamic and collaborative team.KBRA is a full-service credit rating agency registered with both the U.S. Securities and Exchange Commission and the UK Financial Conduct Authority.

• Developing detailed cash flow analyses of CRE properties
• Preparing internal credit reports for rating committees
• Conducting property site visits across Europe
• Writing comprehensive published reports on transactions
• Monitoring developments related to rated transactions and associated sectors
• Assessing potential impact and maintaining relationships with relevant stakeholders
• Contributing to research on new products or jurisdictions
• Publishing reports on topical credit issues to support ongoing property cash flow and rating analyses
• Analysis of all CRE transaction types in Europe, such as CMBS, Small Balance Commercial, CRE CLOs, and corporate real estate
• Lead or supervise assignment and surveillance of credit ratings, including conducting analytical work and transaction diligence, authoring ratings reports for publication, and documenting/presenting internally in a timely manner
• Lead or participate in development of frameworks and methodologies for emerging and esoteric asset classes/transaction types such as Data Centers and CRE Funds
• Exhibit thought leadership by representing KBRA in conferences, issuer and investor meetings, and industry panels, as well as by publishing relevant research
• Identify, develop, and train junior staff in the CRE and adjacent sectors

Requirements:

• 10+ years of proven expertise in conducting credit analysis for CRE loans, and preferably analysis of various CRE securitisations structures (such as single borrower CMBS and small balance transactions)
• Bachelor’s degree required and advanced degree is a plus
• Credit expertise in a variety of CRE properties, including evolving asset classes such as data centres and other real estate infrastructure properties, across multiple European jurisdictions
• Experience in credit rating methodology development (highly advantageous)
• Strong skills in due diligence and financial modelling
• Excellent oral and written communications skills
• Ability to work independently and collaborative in a fast-paced environment
• Familiarity with Generative AI tools such as ChatGPT is a plus