Morningstar DBRS is seeking an Assistant Vice President to join its Private Corporate Credit team. This role offers an opportunity to apply fundamental credit analysis, assess the creditworthiness of small to medium-sized, highly leveraged companies, and contribute to independent credit opinions across a diverse range of industries.
Working closely with senior analysts and management, you will lead the ongoing surveillance of a portfolio of corporate credits, evaluate financial performance and credit risks, and develop well-supported recommendations for rating committees. You will also engage with senior leaders and market participants, including lenders, investors, and bankers, while gaining exposure to developments across the private credit and leveraged finance markets.
What you'll be doing:
- Lead the ongoing credit surveillance of a portfolio of small to medium-sized, highly leveraged companies across various industries.
- Conduct fundamental credit analysis, including financial statement analysis, cash flow assessment, leverage evaluation, and identification of key credit risks.
- Prepare comprehensive rating committee materials, develop well-supported credit recommendations, and lead discussions to communicate analytical conclusions and credit views.
- Produce timely, high-quality written credit reports and research that clearly articulate credit fundamentals, key risks, and rating considerations.
- Monitor financial performance, industry developments, and market trends to identify emerging risks and changes in credit quality.
- Build and maintain relationships with market participants, including lenders, investors, and bankers, to support credit analysis and market intelligence.
- Manage a diverse portfolio of credits, ensuring timely reviews, accurate analysis, and adherence to established analytical methodologies and processes.
- Contribute to continuous improvement initiatives, including enhancing analytical workflows, data management, and internal research capabilities.
What we're looking for:
- Four to six years of relevant experience in corporate credit analysis, leveraged finance, corporate lending, or a related field, preferably with exposure to high-yield or middle-market corporate issuers.
- Bachelor's degree in finance, economics, business, or a related discipline. CFA designation is preferred.
- Strong fundamental credit analysis skills, including financial statement analysis, cash flow modeling, leverage assessment, and evaluating corporate credit risk.
- Solid understanding of corporate debt and capital markets, including familiarity with high-yield bonds, leveraged loans, and related financing structures.
- Experience reviewing and interpreting legal documentation associated with corporate debt and loan issuance.
- Strong analytical judgment and the ability to develop, articulate, and defend credit recommendations.
- Excellent written and verbal communication skills, including the ability to present complex credit analysis clearly and confidently to internal and external stakeholders.
- Demonstrated interest in private credit and private capital markets, with a desire to deepen expertise in this evolving area.
- A proactive, collaborative approach, strong attention to detail, and the ability to manage multiple priorities in a fast-paced environment.
The Group:
Our Private Corporate Credit team focuses on assessing the creditworthiness of middle-market and highly leveraged companies within the evolving private credit market. Through fundamental credit analysis, financial data, and ongoing research and surveillance, the team provides insights into borrower performance, credit trends, and emerging risks to support informed investment and lending decisions.
Base Salary Compensation Range
$82,000.00-120,000.00
Incentive Target Percentage
20% Annual
If you receive and accept an offer from us, we require that personal and any related investments be disclosed confidentiality to our Compliance team (days vary by region). These investments will be reviewed to ensure they meet Code of Ethics requirements. If any conflicts of interest are identified, then you will be required to liquidate those holdings immediately. In addition, dependent on your department and location of work certain employee accounts must be held with an approved broker (for example all, U.S. employee accounts). If this applies and your account(s) are not with an approved broker, you will be required to move your holdings to an approved broker.
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.
Skills Required
- Four to six years of relevant experience in corporate credit analysis, leveraged finance, corporate lending, or a related field
- Bachelor's degree in finance, economics, business, or a related discipline
- CFA designation
- Fundamental credit analysis skills, including financial statement analysis, cash flow modeling, leverage assessment, and corporate credit risk evaluation
- Understanding of corporate debt and capital markets, including high-yield bonds and leveraged loans
- Experience reviewing and interpreting legal documentation associated with corporate debt and loan issuance
- Strong analytical judgment and ability to develop, articulate, and defend credit recommendations
- Excellent written and verbal communication skills
- Interest in private credit and private capital markets
- Proactive, collaborative approach, attention to detail, and ability to manage multiple priorities
What the Team is Saying
Morningstar Compensation & Benefits Highlights
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Parental & Family Support — Paid parental leave sets a global minimum for primary and secondary caregivers, with additional paid caregiving leave available. These provisions signal strong support for family needs.
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Leave & Time Off Breadth — Flexible time off, paid holidays, and a paid sabbatical every four years provide substantial time away from work. This structure reinforces work-life balance over the long term.
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Retirement Support — Employer retirement contributions or matching are paired with free access to retirement-planning tools. This combination bolsters long-term financial security.
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What We Do
We are a global investment research and financial data company with 40-plus offices across North America, Europe, Australia, and Asia. Our products and services are used daily by individual investors, financial advisors, asset managers, retirement plan providers, and institutional investors. We provide data, research, and analysis across managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. The financial system can have real barriers—hidden information, friction that can slow decisions, and forces that can limit transparency and access. We work to remove them, bringing independent research, connected data, and investor-first tools to a system that needs more clarity. The people doing this work span research, technology, design, product, sales, and functional areas. We build many of our products in-house, so the work can connect directly to the tools investors use to make real financial decisions.
Why Work With Us
Morningstar’s missing is to empower investor success. We can only do that if our people feel empowered. That means finding people who think independently, bring a wide range of backgrounds with analytical rigor and genuine intellectual curiosity to the work.
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Employees engage in a combination of remote and on-site work.
Across most of our offices globally, employees work four days a week in the office and one day from home. We recognize that life doesn't always fit a fixed schedule and offer programs that can help provided increased workplace flexibility.
