The Commercial Real Estate (CRE) ratings team in the Structured Finance Group of Moody’s Investors Service is seeking to hire a research director. The team is responsible for assigning and monitoring ratings for structured securities backed by CRE mortgage loans, including Commercial Mortgage Backed Securities (CMBS) and Commercial Real Estate Collateralized Loan Obligations (CRE CLO). In addition, the team produces in-depth and data-driven research on credit issues important for both the CMBS/CRE CLO sectors and the overall CRE industry.
The successful candidate would join the SFG CRE team and lead efforts to expand data, research and analytics in the CRE industry.
Strengthen the rating group’s voice in the market by displaying an in-depth knowledge of CRE economics and risk assessment in outreach to investors, issuers, industry trade organizations and trade related media
Produce research publications, improve ratings analytics and support the ongoing quantitative assessment of existing ratings methodologies through the use of empirical and theoretical economic models, simulations, AI models, and other analytics
Manage ongoing periodic research reports as well as develop in-depth default and loss research using econometric, simulation and AI modelling of various datasets relevant to CRE and CMBS/CRE CLO performance
Participate in ratings and rating committees and provide needed data queries and summary statistics to rating analysts to inform the ratings of CMBS/CRE CLO transactions
Produce internal research and presentations to develop forward-looking macroeconomic views of the CRE sector, working collaboratively with other rating groups to assist them in the their analysis of any CRE exposures
Assist in monitoring the credit performance of outstanding CMBS/CRE CLO ratings by helping to assess the quantitative and qualitative factors that are relevant to default and loss risk of CRE loans
Assist in the development of novel models and analytical tools using internal and external data sources to pre-emptively identify risk factors in CRE and CMBS/CRE CLO transactions
Help to maintain and enhance internal databases, ratings models and commercial real estate cash flow models. Also help build new databases from unstructured data and vet potential applicability of new alternative data sources
Mentor and train rating analysts on the financial and econometric analysis of CRE and structured finance
Degree in Economics, Finance, Financial Engineering, Mathematical Finance, Mathematics, Statistics, Physics, Engineering, Computer Science or related econometrics field
Experience in econometric analysis and financial modelling – experience in credit risk, CRE analysis or structured finance a plus. Experience may be gained through employment or academic study
Highly developed presentation skills
Strong ability to translate quantitative work in written reports and public presentations
Proficient/expert in Excel, PowerPoint and other MS Office tools
Proficiency in any or all of SQL, Python, R, C/C++, VBA, MS Query and MATLAB is a plus
Certifications in CFA, FRM, or equivalent is a plus
Understanding of model development including model design and implementation
Understanding of fixed income and structured finance
High attention to detail with excellent organisational and analytical skills and ability to handle multiple projects at one time
Hard working, enjoys learning and working collaboratively within a highly supportive team
For San Francisco positions, qualified applicants with criminal histories will be considered for employment consistent with the requirements of the San Francisco Fair Chance Ordinance. For New York City positions, qualified applicants with criminal histories will be considered for employment consistent with the requirements of the New York City Fair Chance Act. For all other applicants, qualified applicants with criminal histories will be considered for employment consistent with the requirements of applicable law.
Click here to view our full EEO policy statement. Click here for more information on your EEO rights under the law. Click here to view our Pay Transparency Nondiscrimination statement.