REIT and Real Estate Fund Ratings Analyst - Director/Senior Director (NY)
Kroll Bond Rating Agency (KBRA) is seeking an experienced real estate investment trust (REIT) credit analyst to join its REIT/Real Estate Funds group in New York. This team is responsible for initial ratings and surveillance of corporate-level unsecured debt of REITs, institutional real estate funds, and related commercial real estate operating companies in the U.S. and Europe. Analysts typically manage 10-12 credits, update financial models, monitor industry conditions and trends, engage with senior management, and prepare annual ratings surveillance reports and committee memorandums.
Key responsibilities include participating in all aspects of initial ratings and surveillance for corporate-level debt issued by REITs and institutional real estate funds. The role involves assessing company access to capital and funding sources, monitoring risks associated with operating, development, and financing strategies, and leading rating committee presentations. Analysts are expected to incorporate third-party property market and economic research into credit analysis and reports, author in-depth company reports and press releases, review bond offering documents and credit facilities, and maintain peer group comparisons of credit metrics.
The ideal candidate will possess a bachelor's degree and have over 8 years of experience in research covering REITs or real estate. Prior experience at a credit rating agency conducting REIT credit surveillance or initial ratings is considered a strong advantage. Essential skills include knowledge of secured and unsecured commercial real estate debt capital markets, familiarity with various issuer structures, strong verbal and written communication skills, proficiency in reviewing issuer financial statements, and the ability to generate private market value estimates for underlying properties. Proficiency in Bloomberg for sourcing issuer-reported documents and financial analysis, as well as intermediate Microsoft Excel skills for building pro forma financial models, are also required.
The anticipated annual base salary range for this full-time position is $150,000 to $220,000. Offer amounts are determined by factors such as experience, skills, geography, and other job-related factors. Benefits include a hybrid work schedule with flexible hours, competitive benefits and paid time off, paid family and disability leave, a 401(k) plan with employer match (100% vested), educational and professional development financial assistance, and an employee referral bonus program.
KBRA fosters a collaborative and dynamic work environment, encouraging professional growth and development. The company values transparency and integrity in its ratings process, providing employees with opportunities to engage in meaningful work that impacts the financial markets. Joining KBRA offers a chance to be part of a team that is dedicated to restoring trust in credit ratings through innovative and rigorous analysis.