GSMG Research Senior Associate / Commercial MBS

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New York, NY, USA
In-Office
150K-175K Annually
Senior level
Fintech • Financial Services
The Role
Conducts commercial mortgage-backed securities research, analyzing CMBS market trends, collateral, valuations, supply and demand, and investment positioning. Maintains financial models and relative value sheets, supports research publications, responds to client inquiries, and communicates market views to investors. Coordinates management meetings, field trips, and consultant calls while assessing risks and maintaining regulatory compliance.
Summary Generated by Built In
Citi Research is a highly rated research unit comprising more than 300 research analysts in more than 30 locations around the world. Citi Research provides its clients with fundamental analysis of more than 3,000 companies, representing over 90 percent of the mark capitalization of the major global indices. This is provided alongside economic, macro and quantitative analysis of global markets and sector trends. Combined with Citi’s exceptional sales and trading, the core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.The Research Sr Associate is a seasoned professional role. Applies in-depth disciplinary knowledge, contributing to the development of new techniques and the improvement of processes and workflow for the area or function. Integrates subject matter and industry expertise within a defined area. Requires in-depth understanding of how areas collectively integrate within the sub-function as well as coordinate and contribute to the objectives of the function and overall business. Evaluates moderately complex and variable issues with substantial potential impact, where development of an approach/taking of an action involves weighing various alternatives and balancing potentially conflicting situations using multiple sources of information. Requires good analytical skills in order to filter, prioritize and validate potentially complex and dynamic material from multiple sources. Strong communication and diplomacy skills are required. Regularly assumes informal/formal leadership role within teams. Involved in coaching and training of new recruits. Significant impact in terms of project size, geography, etc. by influencing decisions through advice, counsel and/or facilitating services to others in area of specialization. Work and performance of all teams in the area are directly affected by the performance of the individual.
Responsibilities:
  • Identify and analyze recent trends in the commercial mortgage-backed securities (CMBS) market with the goal of publishing cutting edge research. Focus of articles would range from fundamentals and collateral analysis to supply and demand trends, valuations, and positioning recommendations.
  • Assist senior members of the team with analysis and data requests.
  • Interact with clients remotely and in person to share market views and recommendations.
  • Have strong analytical skills and the ability to breakdown complex ideas in writing and verbally.
  • The unit produces regular written research, holds conference calls with industry consultants and regularly communicates with clients (both internal and external).
  • Modeling: Maintaining & updating commercial real estate sector credit analysis tools; creating new tools; maintaining relative value sheets.
  • Research: Assist with the publication of weekly views, monthly collateral performance, deep dive notes as well as other group products.
  • Communication: Assist with client inquiries and requests (internal and external).
  • Events: Assist with coordination of investor meetings and conference calls.
  • Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
Recommended Qualifications:
  • 2-4 years of experience in the CMBS/CRE market preferred
  • MBA or graduate degree and/or CFA preferred.
  • SIE, Series 63 & 7. If you do not have these, you can obtain them within 180 days
  • Python, SQL, Quant skill set including various AI models such as Gemini, Claude, and Copilot
  • Experience in supporting senior research analysts
  • Comfort in dealing with large data sets preferred
  • Excellent inter-personal and writing skills
  • Attention to detail
  • Secure and maintain applicable licenses
Education:
  • Bachelor’s or graduate-level in a quantitative field (preferred)

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Job Family Group: Research

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Job Family:Research Analysis

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Time Type:Full time

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Primary Location:New York New York United States

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Primary Location Full Time Salary Range:$150,000.00 - $175,000.00


In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

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Most Relevant Skills Please see the requirements listed above.

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Other Relevant Skills For complementary skills, please see above and/or contact the recruiter.

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Anticipated Posting Close Date:Sep 04, 2026

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Automated Processing and AI

We use automated processing, including artificial intelligence, for our legitimate business interests (or our reasonable and appropriate business purposes) to identify and align the candidate's skills and abilities with a specific job opening. Additionally, if you so choose, or consent, we can match your skills and abilities to other suitable roles at Citi.


Importantly, all our hiring processes and decisions, including determining your suitability for a role, are conducted, checked, and decided by individuals. Our automated processing and AI do not involve relying on automatic or autonomous decision-making. Please refer to any Jurisdictional Considerations, with specific provisions for your country (where relevant) for further details.


Illinois residents – AI Notice and Right

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Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.

 

If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.
View Citi’s EEO Policy Statement and the Know Your Rights poster.

Skills Required

  • 2-8 years of experience in the CMBS or commercial real estate market
  • Bachelor's or graduate-level degree in a quantitative field
  • Good knowledge of accounting and credit-focused financial modeling
  • Python, SQL, and quantitative skills
  • Experience supporting senior research analysts
  • Excellent interpersonal and writing skills
  • Attention to detail
  • SIE, Series 63, and Series 7 licenses, or ability to obtain them within 180 days
  • Ability to secure and maintain applicable licenses
  • MBA, graduate degree, and/or CFA
  • Comfort working with large datasets

Citi Compensation & Benefits Highlights

The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Citi and has not been reviewed or approved by Citi.

  • Healthcare Strength — Benefits coverage is positioned as comprehensive, including health, dental, and vision insurance plus on-site clinics, prescription drug support, and disability coverage. Family-building support such as fertility assistance is described as a notable differentiator within the overall package.
  • Retirement Support — Retirement benefits are framed as strong, highlighted by a 401(k) with matching and additional plan options like a Roth 401(k). Financial support is reinforced through discounts and broader financial guidance resources tied to the benefits ecosystem.
  • Wellbeing & Lifestyle Benefits — Wellbeing support extends beyond insurance through programs like an Employee Assistance Program, counseling/legal resources, and gym or wellness reimbursement. These offerings increase the perceived total rewards value even when cash compensation sentiment varies by role.

Citi Insights

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