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Credit Analyst - Associate Director level - Structured Finance, CMBS

Fitch Ratings
Canary Wharf, London (Greater)
Competitive salary + discretionary bonus and benefits
Closing date
Apr 8, 2023

Job Details

Structured Finance, CMBS is currently seeking an Associate Director based out of our London office.

Fitch’s European Structured Finance team maintains existing ratings and assigns ratings to new structured finance transactions. Fitch currently rates Structured Finance transactions across four main asset classes: Asset Backed Securities, Residential Mortgage Backed Securities, Commercial Mortgage Backed Securities and Structured Credit. Fitch Ratings maintains surveillance on over 1,500 European structured finance transactions.

What We Offer:

  • A small team within a larger department which allows you to think differently and have a tangible impact on the team’s output and performance
  • A rare opportunity to develop knowledge and technical expertise across European commercial real estate use-types in relation to the myriad ways it relates to the wider financial system
  • An inclusive atmosphere based on a culture of continual learning - through curiosity, outspoken debate and collaboration and in pursuit of the highest analytical standards

We’ll Count on You To:

  • Analyse complex commercial property financings, based on your
  • assessment of property quality and operating performance, gleaned from valuation reports, rent rolls, income and expense statements, and, where relevant, underlying due diligence materials and site inspections
  • modelling of asset and liability cash-flows in rating scenarios within the scope of Fitch’s rating criteria, ensuring consistency while treating cases on their merits
  • review of relevant transaction documents and accompanying legal opinions, with
  • a forensic eye for relevant detail
  • regard to how commercial interests interact with complex structures
  • a view to the likely effect of the suite of documentation working as a whole
  • Prepare and present thorough written credit papers for rating committees
  • Maintain effective channels of communication with debt arrangers to handle inbound enquiries, clarify project status and discuss analytical questions/feedback on a timely basis, always striving to be clear and professional
  • Produce fluent, concise commentaries and reports publishing our rating actions and credit rationale
  • Research property and debt markets for materials to be used in authoring original reports and in supporting criteria development

What You Need to Have:

  • Strong interest in the European commercial property sector, with knowledge of the fixed income markets based on experience
  • Demonstrable strengths in numeracy, critical thinking/analysis and verbal reasoning
  • A high proficiency with Microsoft Excel
  • Capacity to communicate complex ideas verbally and in simple written business English

What Would Make You Stand Out:

  • Experience in commercial real estate lending or structured finance credit risk
  • Rigorous approach to financial modelling allied with an engineering mindset
  • Curiosity to solve complex problems using creativity and collaboration

Why Fitch?

At Fitch Group, the combined power of our global perspectives is what differentiates us. Our global network of colleagues comes together to accomplish things greater than they ever could alone.

Every team member is essential to our business and each perspective is critical to our success. We embrace a diverse culture that encourages a free exchange of ideas, guaranteeing your voice will be heard and your work will have an impact, regardless of seniority.

We are building incredible things at Fitch and we invite you to join us on our journey.


Fitch Ratings is a leading provider of credit ratings, commentary and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective and insights we provide have helped fund a century of growth and enables our clients to make important credit judgements with confidence.

Fitch is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected veteran status, sexual orientation, gender expression, gender identity or any other characteristic protected by law.



Dual-headquartered in New York and London, Fitch Ratings is a leading provider of credit ratings, commentary and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective and insights we provide help investors to make important credit judgments with confidence.

Fitch Solutions delivers credit market data, analytical tools and risk services to the global financial community. In addition to offering proprietary market-based content, Fitch Solutions distributes the ratings, research and financial data of Fitch Ratings through a variety of flexible platforms. With innovation and experience behind every solution, Fitch Solutions helps financial professionals meet the diverse and

Fitch Learning partner with clients to enhance knowledge, skills and conduct. 

Fitch Group is a global leader in financial information services with operations in more than 30 countries.  Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, an industry-leading provider of credit risk products and services; and Fitch Learning, a preeminent training and professional development firm.  With dual headquarters in London and New York, Fitch Group is owned by Hearst. 

Fitch complies with all laws governing employment in each jurisdiction in which it operates, and provides equal opportunity to all applicants and employees.  All applications will be considered without regard to race, colour, creed, religion, gender, national origin, ancestry, citizenship status, age, disability, marital or veteran status, sexual orientation, gender identity and other status protected by applicable laws.

Fitch is committed to providing global securities markets with objective, timely, independent and forward-looking credit opinions. To protect Fitch’s credibility and reputation, our employees must take every precaution to avoid conflicts of interests or any appearance of a conflict of interest. Should you be successful in the recruitment process at Fitch Ratings you will asked to declare any securities holdings and other potential conflicts for you and your Family Members prior to commencing employment. If you, or your Family Members, have any holdings that may conflict with your work responsibilities, they must be sold before beginning work. In certain roles, employees and their Family Members may be limited to investments in diversified mutual funds only.

For more information about this policy, please visit the Code of Ethics and Conduct page.

Company info
33 Whitehall Street
18th Floor
New York

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