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

About the Role: Grade Level (for internal use): 12 The Team: Credit Ratings is an integral part of the Global Ratings Services team, comprising a diverse group of 1,400 analysts spread across key financial hubs worldwide. We are dedicated to delivering high-quality insights and exceptional client service across all industry sectors. The Infrastructure & Project Finance practice provides credit analysis on essential, long-lived assets and ring-fenced project financings—assessing contractual frameworks, demand and operating risks, sponsor strength, financial flexibility, and resilience under stress. The team’s work supports capital formation for critical infrastructure and helps the market understand fast-evolving subsectors such as data centres and digital infrastructure. The North America Infrastructure Project Finance Ratings team provides independent credit analysis and ratings on a growing portfolio of essential infrastructure projects across the U.S. and Canada, including transportation, power, and social infrastructure. The team’s coverage spans a broad range of project finance structures, including PPP/availability-based, contracted-revenue frameworks, and demand-risk assets. Supported by a strong pipeline of new issuance and refinancing activity, the team delivers timely , high-quality analytical execution and contributes to S&P Global Ratings’ high-profile Infrastructure sector coverage through rigorous credit assessment, clear rating rationale, and ongoing surveillance. The Impact: At S&P Global, our values - Discovery, Integrity, and Partnership - shape how we work, how we collaborate, and how we earn trust with our customers and each other. We embrace AI as an enabler, guided by rigorous governance and risk management, to enhance what has always defined us: the intelligence of our people, deep relationships, and trusted insights. By leveraging technology with human expertise , we help our teams navigate complexity and deliver actionable, decision-ready intelligence without compromising quality, accountability, or integrity. What You Stand to Gain: At S&P Global Ratings, you will contribute to independent credit opinions the market relies on, strengthened by innovation that accelerates analysis. We are People Forward. When you join S&P Global, you’ll benefit from: Joining a diverse community where your growth and well-being come first—just like the 35,000+ colleagues who choose S&P Global every day. Bringing your best self to work in an environment that values inclusion, collaboration, and authentic engagement. Celebrating your achievements with us. We’re committed to your continuous learning, offering education, training, and career coaching to help you grow and adapt in a changing world. Connecting through our People Resource Groups, which foster awareness, engagement, and a sense of community—both within S&P Global and beyond. Responsibilities: Team Contribution & Capability Building Act as senior reference point coaching (Research Assistants, Rating Analysts and Senior Analysts) on credit fundamentals, modelling discipline, data quality, and standard work including how to use AI as an enabler with governance. Coordinate work across credits; anticipate capacity/quality risks; influence outcomes through planning and constructive challenge in ambiguous situations. Embed continuous improvement into routines by improving playbooks/SOPs/prompt libraries and driving adoption. Partner with stakeholders to identify and shape high-impact use cases, supporting testing/adoption/rollout with governance, controls, and change management. Fosters a critical thinking mindset challenging assumptions and the status quo to generate insights that shape market views and strategic decisions. Model enterprise behaviours : Discovery, Integrity, and Partnership including human-centric leadership alongside AI-enabled change. Core Analytical & Delivery Deliver end-to-end analytical execution across a defined portfolio, setting a consistently high bar for quality, timeliness, and clarity to sustain customer trust. Lead surveillance and analytical updates, connecting performance, market developments, and issuer peers to forward-looking risk themes. Own the quality of key outputs, ensuring consistency and clarity of reasoning. Use approved GenAI/LLMs to accelerate research/comparisons/drafting. Operate effectively alongside AI agents in recurring workflows. Support the execution of AI-driven projects. Validate inputs, reconcile metrics, document assumptions/ model changes. Stakeholder & Market Engagement Synthesizes data, analysis, and research into executive-ready, market-facing narratives that convey S&P’s analytical expertise — leveraging broad market knowledge and detailed analysis to deliver trusted advice that influences decisions. Builds collaborative stakeholder trust through empathetic communication, differentiates S&P’s market viewpoint, and drives engagement with market participants. Contribute to strategic initiatives and also thought leadership by researching, drafting, and refining content with senior team input. Risk Management and Operating Ensure adherence to methodology /confidentiality/data governance requirements; escalate emerging risks early. Embed responsible AI use in workflow process. Drive controlled automation/agentic workflows to remove low-leverage work, defining requirements/ controls and partnering with Data/Engineering to scale safely while setting expectations for ongoing monitoring and human oversight. Compensation/Benefits Information: ( This section is only applicable to US candidates:) S&P Global states that the anticipated base salary range for this position is $120,000 USD 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 click here . Compensation/Benefits Information: (This section is only applicable to Canadian candidates:) S&P Global states that the anticipated range of compensation for this position is 110,000 CAD to 165,000 CAD. Final compensation for this role will be based on the individual’s performance, geographic location, as well as experience level, skill set, training, licenses, and certifications. In accordance with Ontario's new 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. Additionally, 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, and we encourage you to reach out for further information regarding our hiring practices or any questions you may have. Thank you for considering a career with us! What We’re Looking For: Practice Nuances Five to seven years of experience in project finance and/or infrastructure finance (ratings, banking, advisory, investing, or credit) strongly preferred. Strong understanding of infrastructure project structures and documentation (e.g., concession/PPP agreements, EPC and O&M contracts, offtake or availability-payment frameworks, financing terms). Strong financial analysis skills, including cash flow modeling /interpretation, ratio and covenant analysis, and accounting fundamentals. Team Contribution & Capability Building Execution maturity across credit portfolio; delivers high quality with limited oversight. Strong collaboration/communication; influences through credibility and constructive challenge . 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 businesses, governments, and institutions. S&P Global Ratings is a division of S&P Global (NYSE: SPGI). S&P Global is the world’s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world’s leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit What’s In It For You? Our Mission: Advancing Essential Intelligence. Our People: We're more than 35,000 strong worldwide—so we're able to understand nuances while having a broad perspective. Our team is driven by curiosity and a shared belief that Essential Intelligence can help build a more prosperous future for us all.From finding new ways to measure sustainability to analyzing energy transition across the supply chain to building workflow solutions that make it easy to tap into insight and apply it. We are changing the way people see things and empowering them to make an impact on the world we live in. We’re committed to a more equitable future and to helping our customers find new, sustainable ways of doing business. Join us and help create the critical insights that truly make a difference. Our Values: Integrity, Discovery, Partnership Throughout our history, the world's leading organizations have relied on us for the Essential Intelligence they need to make confident decisions about the road ahead. We start with a foundation of integrity in all we do, bring a spirit of discovery to our work, and collaborate in close partnership with each other and our customers to achieve shared goals. Benefits: We take care of you, so you can take care of business. We care about our people. That’s why we provide everything you—and your career—need to thrive at S&P Global. Our benefits include: Health & Wellness: Health care coverage designed for the mind and body. Flexible Downtime: Generous time off helps keep you energized for your time on. Continuous Learning: Access a wealth of resources to grow your career and learn valuable new skills. Invest in Your Future: Secure your financial future through competitive pay, retirement planning, a continuing education program with a company-matched student loan contribution, and financial wellness programs. Family Friendly Perks: It’s not just about you. S&P Global has perks for your partners and little ones, too, with some best-in class benefits for families. Beyond the Basics: From retail discounts to referral incentive awards—small perks can make a big difference. For more information on benefits by country visit: Global Hiring and Opportunity at S&P Global: At S&P Global, we are committed to fostering a connected and engaged workplace where all individuals have access to opportunities based on their skills, experience, and contributions. Our hiring practices emphasize fairness, transparency, and merit, ensuring that we attract and retain top talent. By valuing different perspectives and promoting a culture of respect and collaboration, we drive innovation and power global markets. S&P Global has a Securities Disclosure and Trading Policy (“the Policy”) that seeks to mitigate conflicts of interest by monitoring and placing restrictions on personal securities holding and trading. The Policy is designed to promote compliance with global regulations. In some Divisions, pursuant to the Policy’s requirements, candidates at S&P Global may be asked to disclose securities holdings. Some roles may include a trading prohibition and remediation of positions when there is an effective or potential conflict of interest. Employment at S&P Global is contingent upon compliance with the Policy. Recruitment Fraud Alert: If you receive an email from a domain or any other regionally based domains, it is a scam and should be reported to . S&P Global never requires any candidate to pay money for job applications, interviews, offer letters, “pre-employment training” or for equipment/delivery of equipment. Stay informed and protect yourself from recruitment fraud by reviewing our guidelines, fraudulent domains, and how to report suspicious activity here . ----------------------------------------------------------- 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. If you need an accommodation during the application process due to a disability, please send an email to: and your request will be forwarded to the appropriate person. US Candidates Only: Know Your Rights: Workplace discrimination is illegal ----------------------------------------------------------- 202 - Middle Professional (EEO Job Group) (inactive), 20 - Professional (EEO-2 Job Categories-United States of America), RATNGS202.2 - Middle Professional Tier II (EEO Job Group)