Associate Director, Real Estate

Associate Director, Real Estate & Leisure - Toronto

Requisition ID: 49096

Business Unit: Fitch Ratings

Category: Credit Analysis & Research

Location:Toronto, ON, CA

Date Posted: Dec 4, 2025

At Fitch, we have an open culture where employees are able to exchange ideas and perspectives, throughout the organization, irrespective of their seniority. Your voice will be heard allowing you to have a real impact. We embrace diversity and appreciate authenticity encouraging an environment where employees can be their true selves. Our inclusive and progressive approach helps us to keep a balanced perspective. Fitch is also committed to supporting its employees by advancing conversations around diversity, equity and inclusion. Fitch's Employee Resource Groups (ERGs) have been established by employees who have joined together as a workplace community based on similar backgrounds or life experiences. Fitch's ERGs are available to connect employees with others within the organization to offer professional and personal support.

With our expertise, we are not only creating data and information, but also producing timely insights from every angle to influence decision making in this ever changing and highly competitive market. We have a relentless hunger to innovate and unlock the power of human insights and to drive value for our customers. There has never been a better time to make an impact and we invite you to join us on this journey.

US Corporates – Credit Analyst, Associate Director - Real Estate & Leisure

Fitch US Corporates is seeking an Associate Director for coverage in the Real Estate & Leisure sector, in particular those experienced in homebuilding / building products sector, Real Estate & Leisure to join our team in our Toronto, Chicago or New York office.

What We Offer:

• A team-oriented work environment.
• An opportunity to lead a sector team at a global rating agency.
• A role and platform that helps the debt capital markets make more informed decisions via timely, insightful and forward-looking rating actions and research.

We'll Count on You To:

• Perform analysis of key quantitative and qualitative factors influencing credit quality of select homebuilding / building products industry management teams; and real estate operating companies;
• Develop and maintain comprehensive financial models;
• Conduct and/or participate in meetings with homebuilding / building products industry management teams;
• Present analysis of companies to internal credit rating committees;
• Involvement in communicating rating rationale to external audiences (primarily institutional investors, sell-side analysts and media) in meetings, conference calls, press releases and written research reports;
• Participate in the evaluation of other credits within Corporates, as well as other related credit groups

What You Need to Have:

• Bachelor's degree at minimum, MBA or other advanced degree a plus;
• CFA/CPA preferred;
• 44+ years relevant experience, which must include homebuilding / building products industry;
• Capital markets and/or credit analysis experience a plus;
• Expertise in Excel and Word;
• Strong analytical, quantitative, and organizational skills;
• Excellent written and verbal communication skills;
• Ability to shift between multiple projects as priorities change;
• Ability to excel in a team-oriented environment.

What Would Make You Stand Out:

• has a demonstrated understanding of and a keen interest in homebuilding / building products industry; and similar property-linked securities;
• has professional capital markets and/or credit analysis experience and well-developed financial statement analysis and modeling skills;
• can interpret complex legal documents such as bank agreements and bond indentures;
• wants to deepen their exposure to and understanding of the debt capital markets;
• has a strong pattern of leadership and the ability to proactively and successfully interact with various internal and external stakeholders.

Why Fitch?

At Fitch Group, the combined power of our global perspectives is what differentiates us. Our global network of colleagues comes together to accomplish things greater than they ever could alone.

Every team member is essential to our business and each perspective is critical to our success. We embrace a diverse culture that encourages a free exchange of ideas, guaranteeing your voice will be heard and your work will have an impact, regardless of seniority.

We are building incredible things at Fitch and we invite you to join us on our journey.

Fitch Group is a global leader in financial information services with operations in more than 30 countries. Wholly owned by the Hearst Corporation, we are comprised of three main businesses: Fitch Ratings | Fitch Solutions | Fitch Learning.

For more information please visit our websites | |

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 interests 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 of them before beginning work.

Fitch is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected veteran status, sexual orientation, gender expression, gender identity or any other characteristic protected by law.

UNITED STATES ONLY: As part of its continued efforts to maintain a safe workplace for employees, Fitch requires that all employees who receive a written offer of employment on or after October 4, 2021 be fully vaccinated (as defined by the CDC) against the coronavirus by the first day of employment as a condition of employment, to the extent permitted by applicable law. Fitch will consider requests for reasonable accommodations due to medical and/or religious reasons on an individual basis in accordance with applicable legal requirements.

FOR NEW YORK AND CALIFORNIA ROLES ONLY: Expected base pay rates for the role will be between $110,000 and $140,000. 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.