New York, NY
DBRS Morningstar is a global credit ratings business, currently with 700 employees in eight offices globally. Formed through the July 2019 acquisition of DBRS by Morningstar, Inc., the ratings business is the fourth-largest provider of credit ratings in the world.
DBRS Morningstar is committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry. DBRS Morningstar is a market leader in Canada, the U.S. and Europe in multiple asset classes.
DBRS Morningstar rates more than 2,600 issuers and 54,000 securities worldwide and is driven to bringing more clarity, diversity of opinion, and responsiveness to the ratings process. DBRS Morningstar’s approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources.
The DBRS Morningstar U.S. RMBS team is seeking a ratings analyst with strong quantitative and analytical skills at the Assistant Vice President level. The role is based in New York, New York as part of the Global Structured Finance team.
The successful candidate will primarily conduct all the activities required to assign new ratings for U.S. RMBS transactions, including collateral assessment, cash flow analysis, third-party due diligence, and legal document reviews. Candidate should be willing to work in an environment with a strong focus on teamwork and have strong work ethics, an analytical and quantitatively oriented mind-set, and attention to details.
The successful candidate will possess the interpersonal, presentation, and communication skills necessary to work with all levels of professionals, executives, and external contacts. The role offers wide opportunities to develop structured finance experience in a client facing environment.
• Act as a ratings analyst on structured finance transactions with minimal supervision, and present analysis to rating committee.
• Perform transaction analysis including analysis of collateral, deal structure, and legal issues.
• Focus on key credit issues during the new issue rating process.
• Test cash flows to confirm accuracy and robustness of cash flow models. Conduct scenario/sensitivity analysis and communicate analysis to senior staff and colleagues.
• Conduct analysis to evaluate the credit profile of securities and review related legal documents.
• Participate in criteria development and enhancement of structured finance models.
• Produce and publish industry commentaries and newsletters.
• Participate in external meetings with bankers, investors, and originators.
• Completion of bachelor’s degree in finance, math, economics, computer science, engineering, or any other related field.
• 4+ years of experience in structured finance.
• Proficiency in Microsoft Excel and Microsoft Office programs.
• Robust understanding of credit & legal aspects of structured finance transactions in the residential mortgage product area.
• Strong quantitative and analytical skills, with a high attention to detail.
• Excellent written and verbal communication and interpersonal skills.
• Self-starter and team player with demonstrated ability to work in a fast paced environment.
• Personable, eager to learn, organized, deadline driven, and systems oriented.
• Familiarity with structured products market and technical expertise in using fixed income analytical systems such as Intex (Dealmaker, Calc) and Bloomberg.
Nice to have
• Master’s degree in finance, math, economics, computer science or any other related field.
• VBA, Python, or other basic programming skills.