Associate Managing Director, North American CMBS Ratings

Location: Chicago, United States; hybrid work with four days in-office each week in most locations

Total cash compensation: $187,450–$293,883 annually, inclusive of base salary and target incentive.

Company

hirify.global provides independent credit ratings and opinions for corporate, sovereign, financial, project, and structured finance instruments globally.

What you will do

• Lead the analysis and rating of CMBS transactions, including SASB, conduit, CRE CLO, agency, and customized commercial real estate debt executions.
• Serve as the primary lead analyst and senior credit decision-maker for complex transactions, applying hirify.global methodologies and independent judgment.
• Evaluate property-level, loan-level, and structural credit risk through cash flow modeling, downside stress testing, and analysis of business plans, sponsors, capital structures, reserves, and execution risks.
• Chair rating committees, act as an independent voter where approved, and ensure compliance with internal policies, regulatory requirements, and publishing standards.
• Manage, mentor, and develop analysts while setting analytical standards and allocating deals across the new issuance team.
• Represent the organization with issuers, lenders, investors, and intermediaries; lead research and approve presale reports, final rating reports, press releases, and analytical publications.

Requirements

• Minimum 20 years of progressive commercial real estate credit experience in a rating agency, lending institution, private credit platform, or comparable organization.
• Deep experience in CMBS, structured credit, or securitized real estate products, including commercial real estate valuation, cash flow analysis, and credit risk across market cycles.
• Demonstrated ability to make and defend independent credit judgments before senior committees.
• Experience managing and mentoring analytical teams, with strong written and verbal communication skills.
• Advanced Excel and financial modeling proficiency, including comfort working with large datasets.
• Bachelor’s degree in finance, real estate, accounting, or a related discipline required; willingness to work outside normal business hours and travel domestically within North America approximately 15–20%.

Nice to have

• Advanced degree in a related discipline.
• Experience refining credit methodologies and developing new methodologies or processes.

Culture & Benefits

• Hybrid work model designed for regular in-person collaboration.
• 401(k) match of up to 6% of salary and potential stock ownership.
• Medical, dental, and vision coverage with potential premium discounts and HSA contributions.
• Trust-based time off, paid sabbatical, family caregiving and parental leave, and adoption assistance.
• Leadership coaching, formal mentorship, tuition reimbursement, and an annual flex stipend.
• Employee resource groups, charitable matching, volunteer programs, and paid volunteering days.