Structured Finance - RMBS, Director - Chicago

As one of the world’s top three credit ratings agencies, Fitch Ratings plays a critical role in global capital markets by providing supplementary credit analysis, ratings, research, and commentary to financial market participants. For over 100 years, Fitch Ratings has been creating value for global markets through its rigorous analysis and deep expertise, which have resulted in a variety of market-leading tools, methodologies, indices, research, and analytical products. Fitch Ratings is part of Fitch Group, a global leader in financial information services with operations in more than 30 countries, which also includes Fitch Solutions. With dual headquarters in London and New York, Fitch Group is owned by Hearst.

About the role

Fitch Ratings is seeking a Director to join the Residential Mortgage-Backed Securities Group (RMBS) in our Chicago office. The U.S. RMBS group is seeking a Director to help lead transaction coverage and contribute to criteria, research, and market engagement. In this role, you will lead end-to-end analysis and presentation of complex RMBS transactions; independently assess credit, cash flow, legal, and structural risks; chair or present at rating committees; mentor junior analysts; engage with issuers, arrangers, and investors; and contribute to thought leadership and criteria enhancements.

Responsibilities

• Lead primary and surveillance analysis of RMBS transactions, including collateral, structural, legal, and counterparty assessments
• Own cash flow modeling, scenario design, and sensitivity analysis; oversee model deployment and results interpretation
• Present recommendations at rating committees; chair committees as needed and document decisions to a high standard
• Drive criteria application and contribute to criteria development and methodological enhancements
• Produce high-quality research, market commentary, and issuer/investor communications
• Manage and deepen assigned issuer and transaction relationships; represent Fitch in external meetings and conferences
• Coach and review the work of junior and senior analysts to ensure analytical rigor and consistency
• Monitor market developments, performance trends, and regulatory changes; translate insights into analytical viewpoints

Requirements

• 8+ years of relevant experience in RMBS/ABS, mortgage credit, structured finance, or closely related capital markets roles
• Bachelor’s degree; advanced degree and/or CFA/FRM is a plus
• Strong analytical and quantitative skills, including proficiency with cash flow modeling and large datasets
• Excellent written and verbal communication skills and comfort engaging senior external stakeholders
• Ability to thrive in a collaborative, fast-paced environment and manage multiple transactions and deadlines

Qualifications

• Direct lead experience on RMBS new-issue and surveillance mandates, including presenting or chairing rating committees
• Deep knowledge of U.S. mortgage products, origination/servicing practices, due diligence, and performance drivers
• Hands-on experience with RMBS cash flow engines, loan-level analytics, and scenario/sensitivity frameworks
• Demonstrated contributions to criteria, methodology consultations, or thought-leadership publications
• Established relationships with RMBS issuers, arrangers, servicers, and investors
• Experience mentoring and reviewing the work of junior analysts; strong quality control and documentation discipline

Benefits

• Hybrid Work Environment: 3 days a week in office required based on your line of business and location
• A Culture of Learning & Mobility: Dedicated trainings, leadership development and mentorship programs
• Investing in Your Future: Retirement planning and tuition reimbursement programs
• Promoting Health & Wellbeing: Comprehensive healthcare offerings
• Supportive Parenting Policies: Family-friendly policies, including a generous global parental leave plan
• Inclusive Work Environment: A collaborative workplace with Employee Resource Groups
• Dedication to Giving Back: Paid volunteer days, matched funding for donations, and community volunteer opportunities

Pay

Expected base pay rates for the role are between $125,000 and $170,000 per year. Actual salaries will be determined on an individual basis and may vary based on factors including, but not limited to, education, training, experience, past performance, and other job-related considerations. Base pay is one component of Fitch’s total compensation package, which may also include commission earnings, discretionary bonuses, long-term incentives, and other benefits sponsored by Fitch, depending on the position.

To protect Fitch’s credibility and reputation, employees must take every precaution to avoid conflicts of interest or any appearance of a conflict of interest. If successful in the recruitment process, you will be asked to declare any securities holdings and other potential conflicts prior to commencing employment. If you, or your immediate family, have any holdings that may conflict with your work responsibilities, you may be asked to divest yourself of them before beginning work.