Securities Surveillance Analyst ​/ Associate

COMPANY OVERVIEW

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds.

KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries.

KKR Real Estate Credit was formed in January 2015 to invest in real estate credit products and complement KKR Real Estate’s private equity platforms. Within KKR Real Estate Credit, we seek opportunities where we have a sourcing, underwriting or execution advantage by leveraging KKR’s brand, industry knowledge and relationships. KKR Real Estate Credit currently invests through six separately capitalized vehicles across our Direct Lending and Securities portfolios and consists of 50+ dedicated professionals based in New York, San Francisco, Houston and Dallas.

KKR has developed a dedicated services platform, K-Star Asset Management LLC ("K-Star"), to support asset management, loan origination, securities investing, risk management and client experience for its real estate credit franchise as it continues to scale. The K-Star team will include industry specialists to oversee special servicing, stabilized loan asset management, transitional loan asset management, and investment oversight across KKR’s real estate credit portfolio.

K-Star is seeking an enthusiastic, intellectually curious, and diligent Analyst / Associate to join the CMBS Surveillance team within the firm’s growing asset management and servicing platform. The Analyst / Associate will support the oversight, monitoring, and analysis of performing, watchlist, and specially serviced loans within the CMBS portfolio.

The individual will be responsible for monitoring asset and portfolio performance for credit risk, covenant compliance, and market developments, while also providing internal reporting and portfolio analytics for senior management. The role will also involve supporting asset managers in evaluating credit developments and potential resolution strategies across the portfolio.

• Independently calculate and verify covenant compliance metrics, including DSCR, debt yield, LTV, cash management triggers, and extension tests.
• Track property-level performance trends, including leasing activity, tenant rollover, capital expenditures, and resulting impact on property value.
• Identify and elevate emerging credit risks, borrower stress indicators, or market developments impacting collateral performance.
• Monitor upcoming loan maturities, extension options, modification terms, and default triggers, and evaluate refinance risk and potential exit scenarios under varying market and capital markets assumptions.
• Monitor macroeconomic trends, capital markets developments, and property sector dynamics that may impact loan performance or refinance ability.
• Prepare recurring portfolio surveillance reports for senior management summarizing asset performance, emerging risks, and key developments across the portfolio.
• Produce exposure and concentration reports highlighting portfolio risk by property type, geography, borrower, loan size, and maturity profile.
• Maintain internal surveillance databases and reporting models to ensure accuracy and consistency of portfolio data used in management reporting.
• Participate in special projects as needed to implement and maximize new technologies to support K-Star’s platform

• Bachelor’s degree, preferably in a Business, Finance, or Real Estate-related course of study, or equivalent experience in commercial real estate finance or servicing
• 1–5 years of relevant experience in CMBS surveillance, commercial real estate credit,…