Analyst / Senior Analyst – US Structured Credit Funds (New Issue)

About the Role

Morningstar DBRS is seeking an Analyst or Senior Analyst to support the Funds new issue credit ratings team, which is part of the U.S. Structured Credit (US SC) team.

US SC is a credit rating analytics team that assigns credit ratings, monitors credit ratings, develops research and maintains credit rating methodologies for investment fund debt (including feeder fund debt, subscription lines and collateralized fund obligations (CFOs)), collateralized loan obligations (CLOs), other corporate securitizations and bespoke credit rating opportunities.  

Job Responsibilities

• Assist analysts assigning new credit ratings on various fund financing transactions, including but not limited to, feeder fund debt, main fund secured facilities and unsecured debt, subscription loan facilities, and collateralized fund obligations.

• Assist with transaction analytics including portfolio and data analysis using Morningstar DBRS developed predictive models and analytical tools and applying credit rating methodologies.

• Support in managing the new issue ratings process and administration, while adhering to the relevant rating methodology, compliance, regulatory and company policies and procedures.

• Collaborate with the ratings team in producing committee materials and memos, presenting to a credit ratings committee, and authoring pre‐sale and new issue credit rating reports, among other relevant disclosures.

• Assist in monitoring transaction performance and market developments, including changes in fund strategy, investor base, and macroeconomics conditions relevant to structured credit.

• Collect, organize, and analyze fund financial statements, investor reports, and portfolio data to support initial rating and ongoing surveillance.

• Assist in reviewing and analyzing fund documentation, including credit agreements, limited partnership agreements (LPA’s), and other related legal documents.

• Maintain internal databases and ensure timely updates for related transaction records.

• Participate in onsite manager due diligence meetings and calls with market participants and issuers.

• Collaborate with other Morningstar DBRS credit teams to support credit rating surveillance, analysis, administration, and research.

• Assist in research and financial analysis for senior analysts, rating committees, research, investor meetings, and conferences.

Qualifications

• Undergraduate degree in finance, accounting, business, economics, or related discipline is required.

• No previous related experience is required.   

• Strong interest in credit funds, BDCs, CLOs, private credit and/or private equity encouraged.

• Advanced knowledge and practical skills in using Microsoft Excel, Word, PowerPoint and Outlook.

• Excellent written and oral communication skills.

• Demonstrate analytical abilities, with a high attention to detail and producing high quality work.

• Willingness and ability to learn new analytical approaches proactively.

• Willingness and ability to think creatively.

• Ability to work in a fast-paced environment with multiple deadlines.

• Self-starter with ability to prioritize and complete critical work quickly, independently and with a sense of urgency.

• Must be team player with strong interpersonal skills.

• Curiosity to develop new applications and to perform complex analyses.

Nice to Have

• Financial industry and/or structured finance experience.

• Rating agency experience.

• Knowledge of analytical programming languages (Python, etc.) is a plus.

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.

Compensation and Benefits