Assistant Vice President (Structured Finance & Securitisation - RMBS, ABS, SME-CLO)

About the role

Morningstar DBRS's European Structured Finance team is seeking a Securitisation Analyst at the Assistant Vice President level to join our Frankfurt office.

We are looking for a highly motivated professional with a strong work ethic, a keen analytical mindset, and exceptional attention to detail.

The successful candidate will also possess strong interpersonal and presentation skills, enabling them to communicate effectively and build productive working relationships with colleagues at all levels, including senior leadership, as well as with external stakeholders.

Job responsibilities

• Serve as a lead or rating analyst in the maintenance of Morningstar DBRS ratings of European transactions across different asset classes, mainly RMBS, ABS and/or SME-CLOs;
• Review of legal documents related to European Structured Finance transactions (transaction prospectus, hedging documents, due diligence reports, etc.);
• Conduct portfolio credit analysis utilising Morningstar DBRS rating methodologies and analytical tools;
• Analysis of asset-liability cash flow structures using Morningstar DBRS built in cash flow engines and Intex;
• Study recent performance trends for transactions.

The metrics to be evaluated include, among others: credit enhancement, delinquency, cumulative defaults, recoveries, prepayments, seasoning, excess spread and changes in collateral characteristics;

• Review and approve publication on https://dbrs. morningstar. com/ of performance analytics reports;
• Collaboration with other European Structured Finance teams/analysts, supporting analysts in assignment of new ratings to transactions of different asset classes;
• Working with arrangers and issuers on transaction amendments/restructurings and when supporting primary analysts;
• Drafting surveillance committee memos summarising the analysis and recommending a rating action;
• Writing & publishing press releases, commentaries and market research;
• Develop and maintain analytical tools and reports for internal and external use;
• Conduct market research and financial analysis for rating committees, investor meetings and conferences;
• Represent Morningstar DBRS in meetings with market participants and at industry events.

Qualifications

• Bachelor's degree (or equivalent) in Finance, Mathematics, Financial Engineering, Economics, Accounting, or a related quantitative discipline.
• Minimum of 5 years' experience in the financial services industry.
• Working knowledge of ABS and RMBS transactions.
• Experience reviewing legal documentation and performing cash flow analysis for structured finance transactions.
• Advanced proficiency in Microsoft Excel, with strong working knowledge of the broader Microsoft Office suite.
• Excellent written and verbal communication skills in English.
• Strong analytical skills, with exceptional attention to detail and a commitment to delivering high-quality work.
• Ability to manage multiple priorities, work independently, and meet demanding deadlines.
• Demonstrated willingness to learn new analytical methodologies, think creatively, and contribute effectively within a collaborative team environment.
• Eligibility to live and work in the European Union. This role may require occasional travel within Europe.

Additional preferred qualifications

• CFA designation, a professional accounting qualification, and/or a Master's degree in Finance, Economics, Mathematics, or a related field.
• Experience with analytical programming languages, such as VBA, Python, or similar tools.
• Proficiency in one or more additional European languages.
• Base Salary Compensation Range

Bonus Target

20% Annual We expect the compensation and target bonus for this role to fall within the stated range.

The specific compensation offered will depend on the candidate’s qualifications, experience, and other job-related factors.

Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week as we've found that we're at our best when we're purposely together on a regular basis.

In most of our locations, our hybrid work model is four days in-office 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.

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