Analyst, Credit Ratings - Structured Finance (RMBS, ABS, SME-CLO)

About the role

Morningstar DBRS's European Structured Finance team is looking for a Securitisation Analyst at the Analyst level to join their team in Frankfurt. This is an excellent opportunity for a highly analytical and detail-oriented professional to develop expertise in structured finance within a collaborative and dynamic environment. The successful candidate will possess strong communication and presentation skills and be comfortable engaging with colleagues, senior management, and external stakeholders.

Job Responsibilities

• Assist surveillance lead analysts on a portfolio of credit ratings of European structured finance transactions, RMBS, ABS and/or SME-CLOs, rated by Morningstar DBRS;
• Review surveillance performance analytics reports generated by the data team in accordance with established policies and procedures;
• Conduct portfolio credit analysis utilising Morningstar DBRS rating methodologies and analytical tools;
• Analyse 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;
• Act as Credit Rating Committee Coordinator within the structured finance surveillance team;
• Collaborate with other European Structured Finance teams/analysts, supporting analysts in assignment of new ratings to transactions of different asset classes with a main focus on ABS and RMBS;
• Produce detailed committee memos including transaction analysis and rating recommendations;
• Write and publish press releases and market research;
• Act as a Credit Rating Analyst on a portfolio of surveillance RMBS, ABS and/or SME-CLO transactions;
• Develop and maintain analytical tools and reports for internal and external use.

Qualifications

• Bachelor's degree (or equivalent) in Finance, Mathematics, Financial Engineering, Economics, Accounting, or a related quantitative field.
• Basic understanding of structured finance.
• Strong Microsoft Excel skills and proficiency across the Microsoft Office suite.
• Excellent written and verbal English communication skills.
• Strong analytical and problem-solving abilities with close attention to detail.
• Eagerness to learn, think creatively, and collaborate effectively within a team.
• Eligibility to live and work in the European Union.

Nice to Have / Additional Qualifications

• Master's degree, CFA, or accounting qualification (completed or in progress).
• Previous work experience or internships within financial services, particularly in securitisation, structured finance, or credit analysis.
• Knowledge of analytical programming languages and/or Tableau.
• Proficiency in an additional European language.

Base Salary Compensation Range

Base Salary Compensation Range EUR 42, ,800.00 Bonus Target: 10% 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.

Hybrid Work Environment

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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Company overview

Morningstar is a global independent investment research and financial data company. Here, you'll help uncover what’s hidden, simplify what’s complex, and create insights that empower investor success.

Morningstar Development Program

Morningstar is strongly committed to creating and preserving equal opportunity for all employees and applicants. We make all employment decisions—including recruitment, hiring, compensation, training, promotion, transfer, discipline, termination, and other personnel matters—without regard to race, color, ancestry, religion, sex, national origin, age, disability, protected veteran status, marital status, sexual orientation, genetic information, citizenship, gender identity and expression, parental status, or other legally protected characteristics or conduct.

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