Associate Director - Esoteric ABS Structured Finance Ratings

About the Role

Grade Level (for internal use): 12

S&P Global Ratings is seeking an Associate Director to join its Structured Finance practice, which provides credit ratings and opinions for securitizations backed by a wide variety of nontraditional assets. In this role, the Associate Director will be responsible for end‑to‑end rating process, research, cash flow, credit, and structural analytics, and client‑facing activities for new issue ratings and surveillance of non‑traditional ABS transactions.

This role blends research and quantitative and qualitative analytical skills, client‑facing interactions, and project management. Daily tasks include completing the end‑to‑end ratings process, reviewing documents, assessing the credit profile of collateral pools, and conducting cash flow analyses to determine the credit rating impact of stress tests to the structures and enhancement levels under various economic scenarios. The Associate Director is expected to conduct credit rating committees and interact with bankers, issuers and investors on analytical matters.

Furthermore, the Associate Director will play an important role in improving our analytical tools and streamlining our processes by drawing on computer and data science skills.

Structured finance is an important sector of the capital markets and is a key funding source and growth driver for many areas of the economy. If you are interested in helping to facilitate this growth while challenging yourself in a fast‑paced environment, this is the right position for you. It offers the opportunity to work in a collegial culture with great potential for professional development and career growth.

To succeed, you must be comfortable with quantitative analysis and have a knack for problem solving.

• Complete the end‑to‑end ratings process for new issue and surveillance transactions.
• Perform cash flow analysis, synthesize results, and present findings in a timely manner in committees for non‑traditional assets, including transportation ABS, private equity, triple NNN, data centers, time‑share, whole business.
• Analyze credit, cash flow, and performance characteristics of collateral pools. Review third‑party model output and reconcile with cash flow results from internal models.
• Review legal and operating documents to ensure consistency with criteria and identify issues with the transaction structure. Provide comments to external parties.
• Actively manage relationships with internal and external clients.
• Demonstrate strong knowledge of ratings criteria and cash flow analysis and be able to handle clients’ analytical questions.
• Actively contribute to our training and outreach efforts, including the completion of timely commentaries, podcasts, and webinars.

(This section is only applicable to US candidates)

S&P Global states that the anticipated base salary range for this position is $ to $. Final base salary for this role will be based on the individual’s geographic location, as well as experience level, skill set, training, licenses and certifications.

• Undergraduate or Graduate degree. A master’s degree in financial engineering is a decisive asset.
• At minimum of five (5) or more years of relevant work experience, preferably within a Structured Finance Ratings capacity, prior work experience working with Esoteric ABS or novel asset classes and prior legal ratings experience is a plus.
• Strong proficiency with Excel, Word, Power Point
• Experience with cash flow modelling for non‑traditional assets
• Understanding of financial markets
• Excellent verbal and written communications skills
• Excellent research skills
• Ability to analyze and solve non‑routine problems with ingenuity in a timely and insightful manner
• Project management skills
• Ability to manage multiple tasks and tight deadlines under time pressure
• Strong interpersonal skills and ability to work well in a collaborative team
• Diligent and intellectually curious self‑starter with a strong work ethic and a drive to succeed

• Knowledge of cash flow modelling and programming…