Funds Ratings Director

Position Title:  Funds Ratings - Director (New York)

Entity: Kroll Bond Rating Agency, LLC

Employment Type: Full-time

Location: New York, NY 

Summary/Overview:

KBRA (Kroll Bond Rating Agency, LLC) is seeking a Director to join our growing Funds Ratings team in the New York office.  The Funds team assigns and monitors credit ratings on various debt instruments issued by funds, and other fund vehicles. KBRA evaluates financing instruments that support fund operations, enhance liquidity, and optimize capital structures. These include subscription credit lines, which provide liquidity by bridging capital calls; NAV-based loans and credit facilities, which offer leverage against a fund’s portfolio assets; and feeder fund rated notes, which facilitate investment through debt instruments. KBRA’s growing ratings portfolio encompasses funds which leverage a variety of investment strategies including fixed income securities, private equity, private credit, direct lending, real estate, infrastructure and asset based financing.  A strong candidate will have extensive experience and interest in fund investment and credit strategies and how funds operate, deploy capital, and generate cash flows.

About the Job:

• Lead new issuance rating process, including evaluating key factors including an issuance’s capital structure, legal protection, collateral quality, cash flow dynamics and the manager’s experience and track record.
• Interact with issuers, conducting due diligence meetings with issuers and managers to assess their investment process, experience, risk management skills, and overall ability to execute strategies. 
• Prepare rating memos and new issuance report and making recommendations to the rating committees.
• Lead ongoing monitoring and surveillance process and keep abreast of developments on the outstanding issuances and ratings.             
• Develop and maintain complex spreadsheets and databases.
• Collaborate with KBRA experts in other sectors such as project finance, corporate finance, financial institutions, and structured finance to develop approaches to evaluating complex multi-assets strategies.
• Supervise and mentor junior team members to leverage their contributions while supporting their development of analytical and professional skills.
• Lead or assist with the development of analytical tools to standardize rating approaches and streamline new issuance and surveillance processes.
• Represent KBRA at industry conferences, panels, and investor meetings, engaging with market participants to share insights on fund ratings and credit trends.