Senior Analyst, U.S. CMBS Structured Finance Ratings

About the Role

Grade Level (for internal use):

11

The Team

The U.S. CMBS team is part of the broader Structured Finance Group at S&P Global Ratings. The team assigns ratings and publishes research for Commercial Mortgage-Backed Securities (CMBS) investors, working collaboratively on both new issue ratings and ongoing surveillance of CMBS transactions. We foster a collaborative environment where analytical excellence meets innovative problem-solving, supporting the growth of structured finance markets globally.

The Impact

As a Senior Analyst in our U.S. CMBS team, you will play a key role in driving analytical quality and efficiency, sharing your expertise with colleagues, and contributing to how the team continuously improves the way we work. As a Senior Analyst you will lead analysis on transactions within clearly defined criteria and frameworks and will be called upon to advise on more complex or non-standard situations by applying structured finance experience and analytical judgment. Your analytical expertise will directly influence rating outcomes and shape capital market decisions for CMBS investors.

What's in it for you

This role offers exceptional opportunities to work with cutting-edge financial structures in the dynamic CMBS market within a fast-paced, intellectually stimulating environment. You'll benefit from working in a collegial culture with significant potential for professional development and career advancement within S&P Global's prestigious Structured Finance division. This position provides direct exposure to senior leadership and the opportunity to influence analytical methodologies and market standards while building expertise in one of the most important sectors of the capital markets.

Responsibilities

• Perform detailed commercial real estate valuation analysis on underlying CMBS collateral properties using established criteria and methodologies, integrating complex information and clearly communicating your conclusions to both internal and external stakeholders.
• Conduct comprehensive reviews of legal and operating documents to ensure compliance with criteria, identify transaction structure issues, and provide clear, well-reasoned comments and recommendations to external parties.
• Actively manage relationships with issuers, intermediaries, and investors, effectively communicating S&P Global's methodologies, leading analytical discussions, and participating in client meetings.
• Lead transactions through the rating process as the primary rating analyst, including preparing and presenting credit analyses in rating committees and meeting defined timelines while maintaining high analytical standards.
• Assist with research and publishing efforts, criteria development, and performance analysis to support thought leadership initiatives, proactively seeking out opportunities for innovation and process improvement within the CMBS analytical workflow.
• All employees are required to work from the office a minimum of 2 days per week.

Compensation/Benefits Information (applicable for US candidates only)

S&P Global states that the anticipated range of compensation for this position is $100,000 USD to $140,000 USD. Final compensation for this role will be based on the individual's performance, geographic location, as well as experience level, skill set, training, licenses, and certifications.

What We're Looking For

Basic Required Qualifications

• An S&P Global employee at this level would typically have 2+ years of relevant Structured Finance experience; direct CMBS experience will be a pivotal asset.
• Bachelor's degree in Business Administration, Economics, Finance, Mathematics, or another quantitative/analytical discipline.
• Experience with commercial real estate valuation methodologies and structured finance products, including familiarity with CMBS transaction structures and surveillance.
• Strong proficiency with Excel, financial modeling, and financial data analysis, with the ability to work independently on complex, data driven assignments.
• Excellent analytical, written and verbal communication, and presentation skills.
• Ability to integrate and explain complex CMBS structures and credit considerations to a range of audiences.
• Demonstrated ability to analyze and solve complex problems in a timely and insightful manner, using prior experience and curiosity to generate ideas in less clearly defined situations.
• Strong organizational skills with the ability to prioritize competing tasks, manage multiple deals and projects, meet deadlines, and maintain high levels of data accuracy and documentation quality.
• Experience in loan servicing, operations, finance, research, accounting, mortgage lending, or commercial/consumer credit, with a clear connection to commercial real estate or structured finance.
• Proven track record of collaborating effectively with peers and immediate leadership, constructively influencing others, and leveraging the wider team to deliver high quality outcomes.
• We require all candidates who reach the final stage of our interview process to attend at least one in-person interview, which is ordinarily at your nearest S&P Global Ratings office. This must be completed before we can proceed to an offer.

Additional Preferred Qualifications

• Graduate degree in relevant discipline (Finance, Real Estate, Economics, Business) or CFA designation.
• Experience with programming languages or advanced analytical tools (such as Python, R, or VBA) for financial modeling.
• Prior experience in commercial real estate investment, development, or asset management.
• Knowledge of regulatory frameworks governing CMBS markets and structured finance products.

Right to Work Requirements

This role is limited to persons with an indefinite right to work in the United States.

About S&P Global Ratings

At S&P Global Ratings, our analyst-driven credit ratings, research, and sustainable finance opinions provide critical insights that are essential to translating complexity into clarity so market participants can uncover opportunities and make decisions with conviction. By bringing transparency to the market through high-quality independent opinions on creditworthiness, we enable growth across a wide variety of organizations, including businesses, governments, and institutions.

S&P Global Ratings is a division of S&P Global (NYSE: SPGI). S&P Global is the world’s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world’s leading organizations navigate the economic landscape so they can plan for tomorrow, today.

What’s in it for you?

Our Mission:

Advancing Essential Intelligence.

Our People:

We're more than 35,000 strong worldwide—so we're able to understand nuances while having a broad perspective. Our team is driven by curiosity and a shared belief that Essential Intelligence can help build a more prosperous future for us all. From finding new ways to measure sustainability to analyzing energy transition across the supply chain to building workflow solutions that make it easy to tap into insight and apply it. We are changing the way people see things and empowering them to make an impact on the world we live in. We’re committed to a more equitable future and to helping our customers find new, sustainable ways of doing business. Join us and help create the critical insights that truly make a difference.

Our Values:

Integrity, Discovery, Partnership

Throughout our history, the world's leading organizations have relied on us for the Essential Intelligence they need to make confident decisions about the road ahead. We start with a foundation of integrity in all we do, bring a spirit of discovery to our work, and collaborate in close partnership with each other and our customers to achieve shared goals.

Benefits

We take care of you, so you can take care of business. We care about our people. That’s why we provide everything you—and your career—need to thrive at S&P Global.

Our benefits include:

• Health & Wellness: Health care coverage designed for the mind and body.
• Flexible Downtime: Generous time off helps keep you energized for your time on.
• Continuous Learning: Access a wealth of resources to grow your career and learn valuable new skills.
• Invest in Your Future: Secure your financial future through competitive pay, retirement planning, a continuing education program with a company-matched student loan contribution, and financial wellness programs.
• Family Friendly Perks: It’s not just about you. S&P Global has perks for your partners and little ones, too, with some best-in-class benefits for families.
• Beyond the Basics: From retail discounts to referral incentive awards—small perks can make a big difference.