Associate Director – Infrastructure (Project Finance), New York or Toronto

About this role

About the Role:

Grade Level (for internal use): 12 The Team The North America Infrastructure Project Finance Ratings team at S&P Global Ratings covers essential infrastructure projects across the United States and Canada, including transportation, power, and social infrastructure, assessed across PPP/availability-based, contracted-revenue, and demand-risk frameworks. The team values rigorous credit assessment, clear analytical reasoning, and a collaborative approach to supporting capital formation across critical and fast-evolving infrastructure subsectors including data centers and digital infrastructure.

Responsibilities and Impact Team Contribution & Capability Building • Coach junior team members on credit fundamentals, modeling discipline, and the responsible use of AI tools, coordinating work across credits to manage quality and capacity risks.

• Embed continuous improvement into team routines by developing analytical playbooks, prompt libraries, and standard processes, and driving their adoption across the team.

Core Analytical & Delivery • Lead end-to-end credit analysis for an assigned portfolio of North America infrastructure project finance credits, preparing committee-ready materials and participating actively in rating committees.

• Manage portfolio surveillance and updates, connecting market developments and project performance to forward-looking risk themes, and embed AI tools into analytical workflows with disciplined validation and documentation.

Stakeholder & Market Engagement • Synthesize data, analysis, and research into clear, market-facing narratives for senior stakeholders and market participants, and contribute to thought leadership and sector commentaries.

Risk Management and Operating • Ensure adherence to analytical methodology, confidentiality standards, and data governance requirements, escalating risks early and contributing to controlled automation workflows with appropriate governance and human oversight.

Compensation / Benefits Information US Candidates Only S&P Global states that the anticipated base salary range for this position is $120,000 to $189,000 USD. Final base salary for this role will be based on the individual's geographic location, as well as experience level, skill set, training, licenses, and certifications. In addition to base compensation, this role is eligible for an annual incentive plan. For more information on the benefits we provide to our employees, please visit spgbenefits.com/benefit-summaries.

Canadian Candidates Only S&P Global states that the anticipated range of compensation for this position is CAD $110,000 to $165,000. Final compensation for this role will be based on the individual’s geographic location, as well as experience level, skill set, training, licenses, and certifications. In accordance with Ontario’s regulations effective January 1, 2026, this job posting provides information on expected compensation. S&P Global will not be utilizing artificial intelligence in our hiring process. We are committed to transparency and will inform all interviewed candidates of hiring decisions within 45 days of their interview. This posting is for an existing vacancy.

What We're Looking For Required Skills and Experience • An S&P Global employee at this level would typically have 5+ years of relevant experience in project finance or infrastructure finance, including roles in ratings, banking, advisory, investing, or credit.

• Demonstrated understanding of infrastructure project structures and documentation, including PPP agreements, EPC and O&M contracts, and offtake or availability-payment frameworks.

• Demonstrated financial analysis skills, including cash flow modeling, ratio and covenant analysis, and accounting fundamentals.

• Demonstrated ability to deliver high-quality credit analysis across a portfolio with limited oversight and coach junior analysts through structured feedback and quality review.

• Practical experience embedding generative AI, large language models, or agentic workflows into analytical processes with disciplined governance, validation, and responsible AI practices including bias awareness and adherence to approved boundaries.

• Effective written and verbal communication skills for committee-ready documentation and engagement with issuers, investors, and market participants.

Preferred or Helpful Experience • Education: Bachelor's degree or equivalent required. A master's degree or professional certification (such as CFA) is highly valued. We welcome candidates from traditional finance disciplines as well as diverse academic backgrounds that support innovative and critical thinking.

• Experience scaling automation or agentic workflows by defining requirements, supporting testing, and enabling team adoption with appropriate governance controls.

• Experience simplifying analytical processes through standardization, tooling, and automation.

• Demonstrated credit analysis skills with the ability to connect market and sector developments to emerging credit risk themes.

Additional Information • 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.

• Employees are required to work from the office a minimum of two days per week.

Right to Work Requirements This role is limited to persons with an indefinite right to work in the United States or Canada.

About S&P Global Ratings At S&P Global Ratings, our analyst-driven credit ratings, research, and sustainable finance opinions provide critical insights that are essential to translating complexity into clarity so market participants can uncover opportunities and make decisions with conviction. By bringing transparency to the market through high-quality independent opinions on creditworthiness, we enable growth across a wide variety of organizations, including bus

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