Associate Director – Infrastructure (Project Finance), New York or Toronto

About the Role

The North America Infrastructure Project Finance Ratings team at S&P Global Ratings covers essential infrastructure projects across the United States and Canada, including transportation, power, and social infrastructure, assessed across PPP/availability-based, contracted-revenue, and demand-risk frameworks. The team values rigorous credit assessment, clear analytical reasoning, and a collaborative approach to supporting capital formation across critical and fast-evolving infrastructure subsectors including data centers and digital infrastructure.

Responsibilities

• Team Contribution & Capability Building: Coach junior team members on credit fundamentals, modeling discipline, and the responsible use of AI tools. Coordinate work across credits to manage quality and capacity risks. Embed continuous improvement into team routines by developing analytical playbooks, prompt libraries, and standard processes, and drive their adoption across the team.
• Core Analytical & Delivery: Lead end-to-end credit analysis for an assigned portfolio of North America infrastructure project finance credits, preparing committee-ready materials and participating actively in rating committees. Manage portfolio surveillance and updates, connecting market developments and project performance to forward-looking risk themes, and embed AI tools into analytical workflows with disciplined validation and documentation.
• Stakeholder & Market Engagement: Synthesize data, analysis, and research into clear, market-facing narratives for senior stakeholders and market participants, and contribute to thought leadership and sector commentaries.
• Risk Management and Operating: Ensure adherence to analytical methodology, confidentiality standards, and data governance requirements. Escalate risks early and contribute to controlled automation workflows with appropriate governance and human oversight.

Requirements

• 5+ years of relevant experience in project finance or infrastructure finance, including roles in ratings, banking, advisory, investing, or credit.
• Demonstrated understanding of infrastructure project structures and documentation, including PPP agreements, EPC and O&M contracts, and offtake or availability-payment frameworks.
• Demonstrated financial analysis skills, including cash flow modeling, ratio and covenant analysis, and accounting fundamentals.
• Demonstrated ability to deliver high-quality credit analysis across a portfolio with limited oversight and coach junior analysts through structured feedback and quality review.
• Practical experience embedding generative AI, large language models, or agentic workflows into analytical processes with disciplined governance, validation, and responsible AI practices including bias awareness and adherence to approved boundaries.
• Effective written and verbal communication skills for committee-ready documentation and engagement with issuers, investors, and market participants.

Qualifications

• Bachelor's degree or equivalent required. A master's degree or professional certification (such as CFA) is highly valued.
• Experience scaling automation or agentic workflows by defining requirements, supporting testing, and enabling team adoption with appropriate governance controls is preferred.
• Experience simplifying analytical processes through standardization, tooling, and automation is helpful.
• Demonstrated credit analysis skills with the ability to connect market and sector developments to emerging credit risk themes is a plus.

Pay

US Candidates: The anticipated base salary range for this position is $120,000 to $189,000 USD. Final base salary will be based on geographic location, experience level, skill set, training, licenses, and certifications. This role is also eligible for an annual incentive plan.

Canadian Candidates: The anticipated range of compensation for this position is CAD $110,000 to $165,000. Final compensation will be based on geographic location, experience level, skill set, training, licenses, and certifications.

Benefits

S&P Global provides a comprehensive benefits package, including:

• Health & Wellness: Health care coverage designed for the mind and body.
• Flexible Downtime: Generous time off to help keep you energized.
• Continuous Learning: Access to resources to grow your career and learn new skills, including a continuing education program with a company-matched student loan contribution.
• Invest in Your Future: Competitive pay, retirement planning, and financial wellness programs.
• Family Friendly Perks: Benefits for partners and dependents.
• Beyond the Basics: Retail discounts and referral incentive awards.

For more information on benefits by country, visit spgbenefits.com/benefit-summaries.

Schedule

Employees are required to work from the office a minimum of two days per week.

Candidates who reach the final stage of the interview process will be required to attend at least one in-person interview at the nearest S&P Global Ratings office before an offer can be extended.