CMBS New Issuance Associate
US$100,000 – US$150,000 / yr base salary
Posted 28 Jan 2026
Advertised as “CMBS New Issuance – Associate / Associate Director (NY / Chicago)”
BranchFactor Summary
The original posting with the fluff stripped out
- Expected experience
- 3+ yrs
- Management level
- Individual contributor
- Employment
- Hybrid
- Contract
- Full-time
| Base salary | US$100,000 – US$150,000 / yr |
|---|
Field of studyRelevant Field of Study
Study levelBachelor's
CertificationsCfa
Position Title: CMBS New Issuance - Associate / Associate Director (NY/ Chicago)
Entity: Kroll Bond Rating Agency, LLC
Employment Type: Full-time
Location: New York, NY or Chicago, Illinois
Summary/Overview**:**
Kroll Bond Rating Agency (KBRA) is seeking an experienced Commercial Real Estate (CRE) credit analyst to join its industry-leading commercial mortgage-backed securities (CMBS) New Issuance ratings group in its New York or Chicago office. Analysts in the group are responsible for transaction execution, including conducting credit analysis, authoring published reports, and presenting analysis for the assignment of credit ratings to conduit, single-borrower, CRE CLO, single-family rental, and other types of CMBS transactions.
About the Job:
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Conduct commercial real estate (CRE) property cash flow and valuation, and loan credit analysis in accordance with KBRA’s methodologies across all CRE property types.
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Lead end-to-end execution of transactions, including:
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Conducting property, loan and transaction level credit analysis
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Presenting and defending the analysis internally to senior managers and in credit/ratings committees, and externally to banks
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Leading preparation of externally published comprehensive transaction reports
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Managing the process that involves multiple internal and external parties and work-streams
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Conduct property site inspections throughout the U.S. and related management meetings
You will be successful in this role if you have:
- Bachelor’s degree in a relevant field of study. Advanced degree and successful progression towards the CFA designation are pluses
- Three (3) + years of relevant CRE debt underwriting or CMBS securitization experience for Associate level required
- Five (5) + years of relevant CRE debt underwriting or CMBS securitization experience for Associate Director required
- Credit / underwriting experience across multiple CRE property types
- Proficient in conducting extensive analysis in Excel
- Possess strong oral and written communications skills
- Exceptional attention to detail, with a strong commitment to quality