Associate Director, Project Finance

About the Role

The EMEA Infrastructure and Project Finance Team consists of 20 Analysts across London, Madrid, Paris, Milan and Frankfurt. The team covers about 130 issuers across Europe, divided into roughly two-thirds of project financings and one-third of transport infrastructure corporate entities (airports, ports, toll-roads and rail). Team members value collaboration, analytical excellence and cross‑skilling, and working together to deliver high-quality and timely ratings that support financial markets.

The Impact

In this role, you will take primary responsibility for a portfolio of up to 13 entities, principally project financings. Besides surveillance, you are expected to deliver up to 2‑3 new project finance ratings per year, work on project finance CEs/PCAs and/or contribute to publishing timely sector reports. As an Associate Director, you will manage effective operational systems and processes while being recognized as an expert able to handle more complex project finance matters. Equally important, you must have good communication skills and can handle client interactions with limited oversight from your pod lead.

What’s in it for you

This position offers an exceptional opportunity to gain exposure to S&P Global Infrastructure Practice, with analysts located globally. You will enhance your analytical skills through attending global committees and cross‑skilling on utility or corporate entities to broaden your credit expertise. You will develop strong relationships with leading industry players fostering lifelong learning and professional growth. You will also be part of an international, collegial culture that encourages innovation and strategic thinking.

Responsibilities

• Provide detailed albeit focused project finance analysis including ability to work with complex financial models and documentation reviews.
• Develop forward‑looking credit views across different project finance transactions within various sub‑asset classes. This encompasses social, midstream and transportation infrastructure, while equally working with the Utility and Power team.
• Manage relationships with issuers, ensuring effective communication and service delivery.
• Communicate clearly and in a timely manner with investors and market participants.
• Manage resources effectively to deliver sustainable solutions while operating with autonomy and requiring minimal direction.
• Lead others in living S&P Global purpose and values, connecting them to day‑to‑day analytical work.

All employees are required to work from the office a minimum of 2 days per week.

What We’re Looking For

Basic Required Qualifications:

• An S&P Global employee at this level would typically have 5‑10+ years of experience in project finance analysis and rating methodology with ability to work independently.
• Demonstrated track‑record in managing issuers and strong client interaction skills both verbal and written communication.
• Results‑oriented mindset and ability to execute with focus on sustainable delivery and operational excellence.
• Commitment to high‑quality work and maintaining quality standards across the business line.
• Team spirit and coaching ability to develop junior analysts.
• Broad knowledge of specialized infrastructure finance field and close collaboration with other teams within the global infra practice and EMEA corporate teams.
• Ability to manage meetings and projects effectively, setting clear agendas to ensure productivity and efficiency.

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:

• Expertise in corporate methodology and rating processes, while cross‑skilling is encouraged.
• Drive for continuous learning and making a meaningful impact in the infrastructure finance market while demonstrating sound judgment in structuring work.

Equal Opportunity Employer

S&P Global is an equal opportunity employer and all qualified candidates will receive consideration for employment without regard to race/ethnicity, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, marital status, military veteran status, unemployment status, or any other status protected by law. Only electronic job submissions will be considered for employment.