Managing Director - Head of U.S. Leveraged Finance
CFA Institute, New York, NY, United States
Fitch Ratings is currently seeking a Managing Director - Head of U.S. Leveraged Finance based out of our New York office.
Role Overview This role is a senior analytical and market-facing position focused on leveraged finance issuers across broadly syndicated loans (BSL), high yield bonds, and private credit.
Key Qualifications
Extensive experience across leveraged finance markets, including BSL, high yield bonds, and private credit.
A strong credit-oriented background, ideally from a credit rating agency, buy-side, sell-side, or ratings-adjacent advisory platform.
Demonstrated experience with distressed debt, restructurings, and liability management transactions, and the ability to assess credit implications across stressed scenarios.
Working familiarity with CLO market dynamics and investor considerations as they relate to the leveraged loan ecosystem (deep structuring experience not required).
Familiarity with ratings agency frameworks, methodologies, and workflow is a strong plus.
A track record of providing senior-level analytical judgment and mentoring analysts on complex credit situations.
Strong credibility and relationships across leveraged finance market participants, including issuers, PE sponsors, and arranging banks.
Responsibilities
Act as a senior subject‑matter expert on leveraged finance, providing guidance and insight to analytical teams on complex, highly leveraged, capital structures.
Contribute to the development and refinement of credit views and ratings criteria through discussion, analysis, and challenge, particularly in stressed, distressed, or restructuring situations.
Provide leadership and direction to a team of approximately 15 leveraged finance professionals, fostering a collaborative, inclusive environment focused on analytical excellence, sound credit judgment, and professional development.
Serve as a visible senior presence in external meetings with corporate management teams, private equity sponsors, bankers, and other intermediaries.
Articulate the agency’s analytical perspectives on leveraged finance trends, structures, and credit risk in meetings, roundtables, and published research.
Support analytical consistency and best practices through mentorship, coaching, and knowledge sharing across teams.
Partner with senior leadership on thought leadership, market outreach, and broader leveraged finance initiatives.
Qualifications
Minimum 10‑15 years of relevant experience in leveraged finance, corporate credit analysis, capital markets, or related credit‑focused roles.
Deep understanding of leveraged capital structures, documentation, cash flow analysis, and recovery considerations.
Experience analyzing or advising on distressed credits, restructurings, and downside scenarios.
Excellent verbal and written communication skills, with the ability to clearly explain nuanced credit issues to both internal and external audiences.
Strong judgment, collaborative mindset, and comfort operating in a senior, highly visible role.
Ability to manage multiple priorities in a dynamic, market‑driven environment.
CFA or other relevant professional credential preferred.
Benefits
A senior, high‑impact role within a globally recognized credit rating agency.
The opportunity to shape leveraged finance credit perspectives and market dialogue and rating outcomes.
A highly visible platform for engagement with issuers, sponsors, and market participants.
The opportunity to mentor and influence the next generation of leveraged finance credit professionals.
Why Fitch
Hybrid Work Environment:
3 days a week in office required
A Culture of Learning & Mobility:
Dedicated trainings, leadership development and mentorship programs designed to ensure that your time at Fitch will be a continuous learning opportunity
Investing in Your Future:
Retirement planning and tuition reimbursement programs that empower you to achieve your short and long‑term goals
Promoting Health & Wellbeing:
Comprehensive healthcare offerings that enable physical, mental, financial, social, and occupational wellbeing
Supportive Parenting Policies:
Family‑friendly policies, including a generous global parental leave plan, designed to help you balance career and family life effectively
Inclusive Work Environment:
A collaborative workplace where all voices are valued, with Employee Resource Groups that unite and empower our colleagues around the globe
Dedication to Giving Back:
Paid volunteer days, matched funding for donations and ample opportunities to volunteer in your community
Fitch is committed to providing global securities markets with objective, timely, independent and forward‑looking credit opinions. To protect Fitch’s credibility and reputation, our employees must take every precaution to avoid conflicts of interest or any appearance of a conflict of interest. Should you be successful in the recruitment process at Fitch Ratings you will be asked to declare any securities holdings and other potential conflicts prior to commencing employment. If you, or your immediate family, have any holdings that may conflict with your work responsibilities, you may be asked to divest yourself from them before beginning work.
Fitch is proud to be an Equal Opportunity and Affluent Job Title Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.
FOR NEW YORK ROLES ONLY: Expected base pay rates for the role will be between $275,000 and $310,000 per year. Actual salaries will be determined on an individualized basis and may vary based on factors including but not limited to education, training, experience, past performance, and other job‑related factors. Base pay is one part of Fitch’s total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, long‑term incentives, and other benefits sponsored by Fitch.
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Role Overview This role is a senior analytical and market-facing position focused on leveraged finance issuers across broadly syndicated loans (BSL), high yield bonds, and private credit.
Key Qualifications
Extensive experience across leveraged finance markets, including BSL, high yield bonds, and private credit.
A strong credit-oriented background, ideally from a credit rating agency, buy-side, sell-side, or ratings-adjacent advisory platform.
Demonstrated experience with distressed debt, restructurings, and liability management transactions, and the ability to assess credit implications across stressed scenarios.
Working familiarity with CLO market dynamics and investor considerations as they relate to the leveraged loan ecosystem (deep structuring experience not required).
Familiarity with ratings agency frameworks, methodologies, and workflow is a strong plus.
A track record of providing senior-level analytical judgment and mentoring analysts on complex credit situations.
Strong credibility and relationships across leveraged finance market participants, including issuers, PE sponsors, and arranging banks.
Responsibilities
Act as a senior subject‑matter expert on leveraged finance, providing guidance and insight to analytical teams on complex, highly leveraged, capital structures.
Contribute to the development and refinement of credit views and ratings criteria through discussion, analysis, and challenge, particularly in stressed, distressed, or restructuring situations.
Provide leadership and direction to a team of approximately 15 leveraged finance professionals, fostering a collaborative, inclusive environment focused on analytical excellence, sound credit judgment, and professional development.
Serve as a visible senior presence in external meetings with corporate management teams, private equity sponsors, bankers, and other intermediaries.
Articulate the agency’s analytical perspectives on leveraged finance trends, structures, and credit risk in meetings, roundtables, and published research.
Support analytical consistency and best practices through mentorship, coaching, and knowledge sharing across teams.
Partner with senior leadership on thought leadership, market outreach, and broader leveraged finance initiatives.
Qualifications
Minimum 10‑15 years of relevant experience in leveraged finance, corporate credit analysis, capital markets, or related credit‑focused roles.
Deep understanding of leveraged capital structures, documentation, cash flow analysis, and recovery considerations.
Experience analyzing or advising on distressed credits, restructurings, and downside scenarios.
Excellent verbal and written communication skills, with the ability to clearly explain nuanced credit issues to both internal and external audiences.
Strong judgment, collaborative mindset, and comfort operating in a senior, highly visible role.
Ability to manage multiple priorities in a dynamic, market‑driven environment.
CFA or other relevant professional credential preferred.
Benefits
A senior, high‑impact role within a globally recognized credit rating agency.
The opportunity to shape leveraged finance credit perspectives and market dialogue and rating outcomes.
A highly visible platform for engagement with issuers, sponsors, and market participants.
The opportunity to mentor and influence the next generation of leveraged finance credit professionals.
Why Fitch
Hybrid Work Environment:
3 days a week in office required
A Culture of Learning & Mobility:
Dedicated trainings, leadership development and mentorship programs designed to ensure that your time at Fitch will be a continuous learning opportunity
Investing in Your Future:
Retirement planning and tuition reimbursement programs that empower you to achieve your short and long‑term goals
Promoting Health & Wellbeing:
Comprehensive healthcare offerings that enable physical, mental, financial, social, and occupational wellbeing
Supportive Parenting Policies:
Family‑friendly policies, including a generous global parental leave plan, designed to help you balance career and family life effectively
Inclusive Work Environment:
A collaborative workplace where all voices are valued, with Employee Resource Groups that unite and empower our colleagues around the globe
Dedication to Giving Back:
Paid volunteer days, matched funding for donations and ample opportunities to volunteer in your community
Fitch is committed to providing global securities markets with objective, timely, independent and forward‑looking credit opinions. To protect Fitch’s credibility and reputation, our employees must take every precaution to avoid conflicts of interest or any appearance of a conflict of interest. Should you be successful in the recruitment process at Fitch Ratings you will be asked to declare any securities holdings and other potential conflicts prior to commencing employment. If you, or your immediate family, have any holdings that may conflict with your work responsibilities, you may be asked to divest yourself from them before beginning work.
Fitch is proud to be an Equal Opportunity and Affluent Job Title Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.
FOR NEW YORK ROLES ONLY: Expected base pay rates for the role will be between $275,000 and $310,000 per year. Actual salaries will be determined on an individualized basis and may vary based on factors including but not limited to education, training, experience, past performance, and other job‑related factors. Base pay is one part of Fitch’s total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, long‑term incentives, and other benefits sponsored by Fitch.
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