CMBS / CRE Credit Analyst

Job Locations US-NY-New York
Investment Management
Regular Full-Time


Marathon is a leading global credit manager with over $23 billion of capital under management. The firm was founded in 1998 and is managed by Bruce Richards, CEO & Chairman, and Louis Hanover, CIO, and employs approximately 190 professionals, with a 20-member Executive Committee and 8 Partners that include Christine Chartouni, Ed Cong, Jason Friedman, Jeff Jacob, Jamie Raboy, and Andy Springer. Its corporate headquarters are in New York City, and it has offices in London, Miami, Los Angeles, and Luxembourg. Marathon is a Registered Investment Adviser with the Securities and Exchange Commission.

For more information, please visit the company’s website at


We are seeking a skilled CMBS (Commercial Mortgage-Backed Securities) / CRE (Commercial Real Estate) Credit Analyst to join our dynamic team. The CMBS / CRE Credit Analyst will be responsible for conducting in-depth analysis of commercial real estate properties and assessing credit risk associated with CMBS and CRE-related transactions. This role requires a keen understanding of commercial real estate markets, financial analysis, and risk assessment techniques. The ideal candidate will possess strong analytical skills, attention to detail, and the ability to thrive in a fast-paced environment.


  • Perform thorough analysis and underwriting of commercial real estate properties.
  • Evaluate property cash flows, market trends, property location, tenant credit quality, and other relevant factors to assess credit risk.
  • Conduct stress testing and scenario analysis to assess the impact of adverse market conditions on CMBS portfolios.
  • Prepare detailed credit memos summarizing findings and providing recommendations to senior management.
  • Collaborate with other departments, including risk management and legal, to ensure compliance with internal policies and regulatory requirements.
  • Monitor performance of CMBS transactions and provide ongoing credit surveillance.
  • Stay updated on industry trends, regulatory changes, and market developments affecting commercial real estate and CMBS markets.
  • Review loan documents, property appraisals, and other financial documentation to validate property and borrower information.


  • Bachelor's degree in finance, computer science, statistics, economics, real estate, or related field.
  • Minimum of one to three years of experience in commercial real estate finance, CMBS underwriting, credit analysis, or related field.
  • Strong understanding of commercial real estate fundamentals, including property types, lease structures, and valuation methodologies.
  • Proficiency in financial modeling and analysis, including cash flow modeling and stress testing.
  • Excellent analytical and problem-solving skills, with the ability to interpret complex financial data and draw meaningful conclusions.
  • Detail-oriented with strong organizational skills and ability to manage multiple projects simultaneously.
  • Effective communication skills, both verbal and written, with the ability to convey complex concepts to stakeholders.
  • Proficiency in Microsoft Excel, Word, and PowerPoint. Experience with CMBS and other CRE analytics software is preferred (Argus, CoStar, RCA, etc).


The average salary for this role $125,000-$150,000 in base pay and is exclusive of any bonuses or benefits.  The base pay offered will be determined based on your experience, location, skills, training, certifications and education, and in addition we will also consider internal equity and market data.  We do not anticipate that candidates hired will begin at the top of the range however, from time to time, it may occur on a case by case basis.


No agencies please

Equal Opportunity Employer M/F/D/V


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