Credit Analyst, Equipment Finance- Associate Director
Barings
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Chicago, IL
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Mid-Senior level
Posted March 16, 2026
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Responsibilities
Responsibilities
- Conduct in‑depth analysis of 3–5 years of historical financial statements, identify trends, forecast performance, and anticipate emerging risks.
- Assign, review, and edit risk rating changes, including assessments for complex borrower situations or structures.
- Prepare detailed credit approval memoranda evaluating financial condition, industry dynamics, competitive positioning, management capabilities, and overall creditworthiness.
- Identify and articulate borrower‑specific and industry‑level risks that may impact repayment capacity.
- Participate in quarterly credit review meetings and contribute to portfolio monitoring.
- Support business originators with new credit approvals, underwriting requests, and transaction structuring.
- Run and validate pricing models, including benchmarking against external data sources such as Bloomberg.
- Assist with delinquency management, including activity related to specialized U.S.
- Government finance relationships.
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What still needs stronger evidence
Requirements
- 5–8+ years of experience performing corporate, commercial, or small‑business credit or financial analysis.
- Demonstrated proficiency with Excel and financial modeling tools (e.g., pivot tables, v‑lookups, multi‑period analysis).
- Ability to analyze borrower financial statements and perform cash‑flow, leverage, and ratio analysis.
Preferred Skills
- Experience underwriting or evaluating commercial credit exposures, and within in middle-market leveraged products is a plus.
- Proven ability to manage or support 20+ commercial credit files annually, or an equivalent workload.
- Strong understanding of financial statements, including cash‑flow modeling, leverage metrics, capital structure, and industry‑specific considerations.
- Experience in commercial lending, equipment finance, or leasing (bank, finance company, or corporate finance environment).
- Familiarity with pricing methodologies and market benchmarking tools, including external data sources such as Bloomberg.
- Asset Financing, Credit Analysis, Due Diligence, Financial Modeling
Education
- (Not required) – Bachelor’s degree in Accounting, Finance, Economics, or a related discipline.
At Barings, we are as invested in our associates as we are in our clients. We recognize those who work diligently for us and reward them for personal and professional integrity, communication skills, distinct competencies and expertise in specific strategies, ability to collaborate as a team member and true dedication to the interests of our clients.
We thank you for your interest in joining the Barings team, and invite you to explore our current employment opportunities.
Job Title: Credit Analyst, Equipment Finance
Corporate Title: Associate Director
Department: Equipment Finance
Location: Foxboro/Boston, Charlotte, NYC, or Chicago
Overview
Barings Equipment Finance — also known as MassMutual Asset Finance — is a national equipment finance investment platform managing over $9 billion in assets and originating $1–$2 billion annually. The team spans originators, credit analysts, operations, documentation, accounting, and portfolio management professionals, supporting a full‑cycle commercial finance platform.
The Credit Analyst will directly influence new business activity and overall portfolio credit quality by supporting underwriting, financial analysis, and ongoing credit administration. This position offers the opportunity to learn from seasoned team members, broaden your exposure to commercial finance, and take on increasing responsibility over time.
Key Responsibilities
Conduct in‑depth analysis of 3–5 years of historical financial statements, identify trends, forecast performance, and anticipate emerging risks.
Assign, review, and edit risk rating changes, including assessments for complex borrower situations or structures.
Prepare detailed credit approval memoranda evaluating financial condition, industry dynamics, competitive positioning, management capabilities, and overall creditworthiness.
Identify and articulate borrower‑specific and industry‑level risks that may impact repayment capacity.
Participate in quarterly credit review meetings and contribute to portfolio monitoring.
Support business originators with new credit approvals, underwriting requests, and transaction structuring.
Run and validate pricing models, including benchmarking against external data sources such as Bloomberg.
Assist with delinquency management, including activity related to specialized U.S. Government finance relationships.
Requirements
Bachelor’s degree in Accounting, Finance, Economics, or a related discipline.
5–8+ years of experience performing corporate, commercial, or small‑business credit or financial analysis.
Demonstrated proficiency with Excel and financial modeling tools (e.g., pivot tables, v‑lookups, multi‑period analysis).
Ability to analyze borrower financial statements and perform cash‑flow, leverage, and ratio analysis.
Preferred Qualifications
Experience underwriting or evaluating commercial credit exposures, and within in middle-market leveraged products is a plus.
Proven ability to manage or support 20+ commercial credit files annually, or an equivalent workload.
Strong understanding of financial statements, including cash‑flow modeling, leverage metrics, capital structure, and industry‑specific considerations.
Experience in commercial lending, equipment finance, or leasing (bank, finance company, or corporate finance environment).
Familiarity with pricing methodologies and market benchmarking tools, including external data sources such as Bloomberg.
Base Salary Range: $150,000-170,000 and additional incentive compensation.
Requisite Skills
Asset Financing, Credit Analysis, Due Diligence, Financial Modeling
Additional Skills
Barings is an Equal Employment Opportunity employer; Minority/Female/Age/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply.
Barings Offers a Comprehensive Benefits Package Including
CORE BENEFITS & WELLNESS
Medical (including Virtual Care), Prescription, Dental, and Vision Coverage
Fitness Center Reimbursement Program (Including Online Memberships)
Employee Assistance Program (EAP)
Fertility Benefits
FINANCIAL WELL-BEING
Highly competitive 401(k) Plan with Company Match
Health Savings Account (HSA) with Company Contributions
Flexible Spending Accounts (FSA) - Health Care & Dependent Care
Retirement Health Reimbursement Account
LIFE INSURANCE
Basic and Supplemental Life Insurance
Spouse and Child Life Insurance
TIME OFF, DISABILITY AND LEAVE OF ABSENCE
Paid Vacation, Sick Days and Annual Holidays
Paid Leave of Absences (Maternity Leave, Parental Leave, Caregiver Leave, Bereavement Time)
Short and Long Term Disability Plans
Paid Volunteer Time
Other Benefits
Education Assistance Program
Charitable Matching Gifts Program
Commuter Reimbursement Program
Adoption and Surrogacy Reimbursement Program
We thank you for your interest in joining the Barings team, and invite you to explore our current employment opportunities.
Job Title: Credit Analyst, Equipment Finance
Corporate Title: Associate Director
Department: Equipment Finance
Location: Foxboro/Boston, Charlotte, NYC, or Chicago
Overview
Barings Equipment Finance — also known as MassMutual Asset Finance — is a national equipment finance investment platform managing over $9 billion in assets and originating $1–$2 billion annually. The team spans originators, credit analysts, operations, documentation, accounting, and portfolio management professionals, supporting a full‑cycle commercial finance platform.
The Credit Analyst will directly influence new business activity and overall portfolio credit quality by supporting underwriting, financial analysis, and ongoing credit administration. This position offers the opportunity to learn from seasoned team members, broaden your exposure to commercial finance, and take on increasing responsibility over time.
Key Responsibilities
Conduct in‑depth analysis of 3–5 years of historical financial statements, identify trends, forecast performance, and anticipate emerging risks.
Assign, review, and edit risk rating changes, including assessments for complex borrower situations or structures.
Prepare detailed credit approval memoranda evaluating financial condition, industry dynamics, competitive positioning, management capabilities, and overall creditworthiness.
Identify and articulate borrower‑specific and industry‑level risks that may impact repayment capacity.
Participate in quarterly credit review meetings and contribute to portfolio monitoring.
Support business originators with new credit approvals, underwriting requests, and transaction structuring.
Run and validate pricing models, including benchmarking against external data sources such as Bloomberg.
Assist with delinquency management, including activity related to specialized U.S. Government finance relationships.
Requirements
Bachelor’s degree in Accounting, Finance, Economics, or a related discipline.
5–8+ years of experience performing corporate, commercial, or small‑business credit or financial analysis.
Demonstrated proficiency with Excel and financial modeling tools (e.g., pivot tables, v‑lookups, multi‑period analysis).
Ability to analyze borrower financial statements and perform cash‑flow, leverage, and ratio analysis.
Preferred Qualifications
Experience underwriting or evaluating commercial credit exposures, and within in middle-market leveraged products is a plus.
Proven ability to manage or support 20+ commercial credit files annually, or an equivalent workload.
Strong understanding of financial statements, including cash‑flow modeling, leverage metrics, capital structure, and industry‑specific considerations.
Experience in commercial lending, equipment finance, or leasing (bank, finance company, or corporate finance environment).
Familiarity with pricing methodologies and market benchmarking tools, including external data sources such as Bloomberg.
Base Salary Range: $150,000-170,000 and additional incentive compensation.
Requisite Skills
Asset Financing, Credit Analysis, Due Diligence, Financial Modeling
Additional Skills
Barings is an Equal Employment Opportunity employer; Minority/Female/Age/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply.
Barings Offers a Comprehensive Benefits Package Including
CORE BENEFITS & WELLNESS
Medical (including Virtual Care), Prescription, Dental, and Vision Coverage
Fitness Center Reimbursement Program (Including Online Memberships)
Employee Assistance Program (EAP)
Fertility Benefits
FINANCIAL WELL-BEING
Highly competitive 401(k) Plan with Company Match
Health Savings Account (HSA) with Company Contributions
Flexible Spending Accounts (FSA) - Health Care & Dependent Care
Retirement Health Reimbursement Account
LIFE INSURANCE
Basic and Supplemental Life Insurance
Spouse and Child Life Insurance
TIME OFF, DISABILITY AND LEAVE OF ABSENCE
Paid Vacation, Sick Days and Annual Holidays
Paid Leave of Absences (Maternity Leave, Parental Leave, Caregiver Leave, Bereavement Time)
Short and Long Term Disability Plans
Paid Volunteer Time
Other Benefits
Education Assistance Program
Charitable Matching Gifts Program
Commuter Reimbursement Program
Adoption and Surrogacy Reimbursement Program