Analyst

The Team

The Team - Morningstar Credit (or MC), is a separate Morningstar entity that will offer credit products and services beyond credit ratings. This entity has been separated from the NRSRO i.e., DBRS Morningstar and operates as a separate legal entity of Morningstar. MCIA’s goal is to empower credit market decision makers with tools and information that lead to faster, insightful, and predictable outcomes. The solutions to be developed and available through MCIA will further Morningstar’s commitment to empower investor success by providing best-in-class transparency and understanding of credit markets.

Job Description

As a MC Analyst, you will conduct thorough quantitative and qualitative analysis on the underlying loans and properties that collateralize Commercial Mortgage Backed Securities transactions. In addition, you will assist other analysts with the creation of loan valuations and write-ups; assist with special projects/initiatives, as needed.

Responsibilities

• Write monthly research reports & transaction snapshot including commentary and opinion on the Commercial Mortgage Backed Securities (CMBS) for the institutional clients.

• Accurate and timely assistance with the basic data and preliminary tasks to support the research and analysis of CMBS properties.

• Accurate and timely retrieval, analysis, research and reporting of CMBS pool level and property level performance, including:

• Identifying and analyzing risky assets based upon qualitative and quantitative factions

• Identifying macro and micro risk factors, including market, property type, tenant, and borrower, to determine and measure exposure within the CMBS pools and loan portfolios.

• Monitoring, analysis, and executive summary reporting on CMBS transactions, including an investigation of potential default or loss scenarios for underlying real estate loan collateral.

• Productive and timely communication and support other Morningstar Analysts or any third-party contacts to collect data and information to produce quality and timely reporting within prescribed time frames.

• Research and respond to internal and external inquiries regarding specific aspects of assigned CMBS pools, providing users with information on major credits or portfolio concentrations; and evaluating such detail relative to bond class holdings to ascertain strengths and/or weaknesses of a position.

• Maintain regular and open communication with the operations team and technology team about assigned tasks, priorities and ensure applications under development meet the defined requirements and pass the user acceptance testing prior to its release.

• Take ownership of the tasks with focus on quality and accuracy of the deliverables

• Demonstrate strong learning curve and eagerness to move up the rating value chain

Requirements

• 2 to 4 years of experience in a credit research domain, with knowledge of CMBS and credit ratings experience preferred.

• A bachelor’s degree required, Masters, CFA or FRM preferred.

• Excellent writing communication and quantitative/analytical skills.

• Intermediate level of Microsoft Excel, Visual Basic for Applications (VBA) and MSSQL skills.

• Creative thinker who is adept at taking an analytical approach to problem solving.

Nice to have:

Structured Finance experience, especially CMBS

Morningstar is an equal opportunity employer.

About Us

Morningstar DBRS is a leading provider of independent rating services and opinions for corporate and sovereign entities, financial institutions, and project and structured finance instruments globally. Rating more than 4,000 issuers and 60,000 securities, it is one of the top four credit rating agencies in the world.

Morningstar DBRS empowers investor success by bringing more transparency and a much-needed diversity of opinion in the credit rating industry. Our approach and size allow us to be nimble enough to respond to customers' needs in their local markets, but large enough to provide the necessary expertise and resources they require. Market innovators choose to work with us because of our agility, tech-forward approach, and exceptional customer service.

Morningstar DBRS is the next generation of credit ratings.

If you received and accept an offer from us, we require that personal and any related investments be disclosed confidentiality to our Compliance team (days vary by region). These investments will be reviewed to ensure they meet Code of Ethics requirements. If any conflicts of interest are identified, then you will be required to liquidate those holdings immediately. In addition, dependent on your department and location of work certain employee accounts must be held with an approved broker (for example all, U.S. employee accounts). If this applies and your account(s) are not with an approved broker, you will be required to move your holdings to an approved broker.

Morningstar’s hybrid work environment gives you the opportunity to work remotely and collaborate in-person each week. While some positions are available as fully remote, we’ve found that we’re at our best when we’re purposely together on a regular basis, typically three days each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you’ll have tools and resources to engage meaningfully with your global colleagues.