Position Title: Funds Ratings - Director (Dublin)
Kroll Bond Rating Agency Europe Limited is a leading credit rating agency seeking a Director to join our growing Funds Ratings team in the Dublin office. Our team assigns and monitors credit ratings on various debt instruments issued by funds and other fund vehicles.
Funds Rating Process
We evaluate financing instruments that support fund operations, enhance liquidity, and optimize capital structures. These include:
* Subscription credit lines, which provide liquidity by bridging capital calls
* NAV-based loans and credit facilities, which offer leverage against a fund's portfolio assets
* Feeder fund rated notes, which facilitate investment through debt instruments
About the Job
The successful candidate will lead new issuance rating processes, including evaluating key factors such as an issuance's capital structure, legal protection, collateral quality, cash flow dynamics, and the manager's experience and track record.
* Lead new issuance rating process, including evaluating key factors
* Interact with issuers, conducting due diligence meetings to assess their investment process and overall ability to execute strategies
* Prepare rating memos and new issuance reports, and make recommendations to the rating committees
* Lead ongoing monitoring and surveillance processes, keeping abreast of developments on outstanding issuances and ratings
* Develop and maintain complex spreadsheets and databases
* Collaborate with KBRA experts in other sectors to develop approaches to evaluating complex multi-assets strategies
* Supervise and mentor junior team members, leveraging their contributions while supporting their development of analytical and professional skills
* Lead or assist with the development of analytical tools to standardize rating approaches and streamline new issuance and surveillance processes
* Represent KBRA at industry conferences, panels, and investor meetings, engaging with market participants to share insights on fund ratings and credit trends
* Assist with in-depth credit research and publications on new developments, trends, or topical subjects related to funds
Requirements
To be successful in this role, you should have:
* Bachelor's degree in Finance, Business, or Math-related fields or any subject that results in strong analytical skills
* Eight (8) or more years of work experience in fund finance, investing, or structured finance
* Experience with investment strategies in private equity, private credit, real estate, infrastructure, and asset-based lending facilities
* Understanding of subscription lines, NAV financing, hybrid facilities, rated feeders, or other fund finance products
* Experience reviewing legal documents and strong understanding of liability structures, LTV/advance rates, payment priorities, and structural protections
* Advanced proficiency in Excel to build and analyze financial models assessing asset cash flow projections and debt repayment under stress scenarios
* Ability to assess creditworthiness of funds, assets, and counterparties; understanding how this applies to rating methodologies is a plus
* Strong verbal and written communication skills to prepare clear, concise, and well-reasoned credit memos and reports and present them to committees efficiently
* Strong interpersonal skills to work as an integral part of a highly collaborative team and across disciplines in a challenging and dynamic environment and effectively manage internal and external relationships
* CFA or interest in obtaining CFA is a plus
* Ability to manage time and resources in a fast-growing company
* Familiarity with Generative AI tools such as ChatGPT for research, data insights, and general productivity is a plus
About Us
Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.