Structured Finance Specialist

Structured Finance (CMBS/RMBS/Structured Credit)

About Us:

Morningstar DBRS is a leading global credit ratings business, the fourth-largest provider of credit ratings worldwide. We empower investor success through cutting-edge technology and a commitment to clarity, diversity of opinion, and responsiveness in the ratings process. With offices across North America, Europe, and Asia, we rate over 4,000 issuers and 60,000 securities globally. Learn more at https://dbrsmorningstar.com.

About the Role:

As part of the Structured Finance team (covering CMBS, RMBS, and Structured Credit), you will perform in-depth quantitative and qualitative analysis of securitized products, including Commercial Mortgage-Backed Securities, Residential Mortgage-Backed Securities, and Collateralized Loan Obligations. This role offers exposure to the entire credit rating process, including collateral analysis, cash flow modeling, and risk assessment. You will also assist in building analytical tools, maintaining databases, and supporting special projects.

Key Responsibilities:

• Analyze credit risk in structured finance securities (CMBS, RMBS, CLO/CDO) by reviewing deal documents, legal documentation, and periodic performance data.
• Build and run cash flow models (internal and external platforms like Intex Calc) and perform sensitivity analyses.
• Prepare rating committee notes, rationales, and maintain databases related to securitized assets.
• Collect, organize, and analyze data from internal and external sources for ratings, research, and criteria development.
• Monitor transactions and prepare periodic portfolio reports, identifying material changes and risk factors.
• Collaborate with operations and technology teams to ensure tools meet requirements and pass user acceptance testing.
• Productionize and maintain analytical tools; implement quick fixes to align with dynamic business needs.
• Ensure compliance with regulatory and company policies.
• Demonstrate strong learning curve and eagerness to progress within the ratings value chain.

Requirements:

• Postgraduate in Finance, CA, CFA charter holder, or equivalent qualification.
• 17 years in structured finance credit analysis or capital markets; experience at a rating agency is a plus.
• Exposure to CMBS, RMBS, CLO/CDO, ABS, or other structured finance securities.
• Proficiency in Microsoft Excel, VBA, MSSQL. Knowledge of Python and data science stack (Jupyter, Pandas) is a plus.
• Familiarity with cash flow modeling platforms like Intex. Experience with REIS and CBRE is a plus.
• Strong analytical and problem-solving skills with attention to detail.
• Excellent written and verbal communication skills.
• Ability to manage multiple tasks under tight deadlines; highly organized and self-motivated.
• Team player with good interpersonal skills and a positive attitude.

Morningstar DBRS is an equal opportunity employer.