Funds Ratings - Director (London)

Position Title

Funds Ratings – Director (London)

Entity

Kroll Bond Rating Agency UK Limited

Employment Type

Full-time

Location

London, England

Summary/Overview

Kroll Bond Rating Agency UK Limited is seeking a Director to join our growing Funds Ratings team in the London office. The Funds team assigns and monitors credit ratings on various debt instruments issued by funds and other fund vehicles. KBRA evaluates financing instruments that support fund operations, enhance liquidity, and optimize capital structures. These include subscription credit lines, NAV-based loans and credit facilities, and feeder fund rated notes. KBRA’s growing ratings portfolio covers funds leveraging various investment strategies including fixed income securities, private equity, private credit, direct lending, real estate, infrastructure and asset‑based financing. A strong candidate will have extensive experience and interest in fund investment and credit strategies and how funds operate, deploy capital, and generate cash flows.

About the Job

• Lead new issuance rating process, 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.
• Interact with issuers, conducting due diligence meetings with issuers and managers to assess their investment process, experience, risk management skills, 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 process and keep abreast of developments on the outstanding issuances and ratings.
• Develop and maintain complex spreadsheets and databases.
• Collaborate with KBRA experts in other sectors such as project finance, corporate finance, financial institutions, and structured finance to develop approaches to evaluating complex multi‑asset strategies.
• Supervise and mentor junior team members to leverage their contributions while supporting their development of analytical and professional skills.
• Lead or assist with the development of analytical tools to standardise 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.

Qualifications

• Bachelor’s degree in Finance, Business, or Math related fields or any subject that results in strong analytical skills.
• Eight 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 required to build and analyse Excel based financial models to assess 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.

Benefits

• A flexible hybrid work schedule – Tuesdays, Wednesdays, Thursdays in the office.
• Competitive benefits and paid time off.
• Pension plan.
• Educational and professional development financial assistance.
• Employee referral bonus program.