Position Title: RMBS - Associate Director
Department: Structured Finance
Office Location: Dublin, Ireland or London, UK
Summary/Overview:
KBRA is seeking an Associate Director to join our Residential Mortgage-Backed Securities (RMBS) team in the Dublin or London office.
About the Team:
Our RMBS team rates transactions spanning across prime, nonconforming, buy to let, re-performing, and non-performing asset classes, among others. Our primary objective is to assign credit ratings and perform high quality work in a timely manner, which involves conducting collateral analysis, pool-level cash flow and structure analysis; and publishing our viewpoints based on our research and analysis. We pride ourselves on the quality, accuracy, timeliness and consistency of our product.
About the Job:
- Lead ratings analyst for RMBS, which includes project managing the ratings process from beginning to end.
- Quantitative modelling of issuance structures and features and perform cash flows analysis using various applications or Intex.
- Prepare credit committee memos around analysis and recommendations. Write presale, new issuance and surveillance reports. Write commentaries and/or research reports on the RMBS sector across European jurisdictions.
- Manage expectations of internal stakeholders and external counterparties integral to KBRA ratings’ process and timelines. Communicate with market participants to express KBRA’s credit views and opinions effectively.
- Represent KBRA in operational risk reviews and/or conferences.
- Surveillance of rated transactions in RMBS and other asset classes.
- Apply and help develop KBRA structured finance methodologies to credit assess mortgage portfolios or other asset types.
- Help develop new set of RMBS assumptions/methodologies to assess mortgage portfolios for rating RMBS in European jurisdictions and regularly review and update existing methodologies.
- Support, manage and/or mentor junior members of the team.
Key Skills/Expertise:
The successful candidate will have:
- Bachelor’s degree required and advanced degree is a plus.
- Five or more years of relevant experience in RMBS or the rating process for similar asset types preferred.
- Good understanding of credit risk concepts, mortgage products and market dynamics across European jurisdictions and highly developed quantitative skills.
- Due diligence and financial modelling experience and must be comfortable using Microsoft Excel, including VBA (Visual Basic for Application), as well as other platforms. You must be able to easily manipulate and format large data sets.
- The ability to provide analysis to senior staff in relation to financial structures, collateral analysis and underlying businesses.
- The ability to analyse, summarise and present complex issues concisely at committees and in reports.
- Excellent communication skills (written & verbal) are essential.
- The ability to work in a fast-paced environment and when necessary be able to work independently against deadlines. Good time management essential.
- Be willing and able to travel freely between the EU and UK.
- Have a second language (highly regarded but not essential).
About Us
Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority pursuant to the Temporary Registration Regime. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider. Kroll Bond Rating Agency Europe is located at 6-8 College Green, Dublin 2, Ireland.
