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Assistant Vice President, RMBS and Covered Bonds (Structured Finance and Securitisation Analyst, Residential Mortgage-Backed Securities)
Assistant Vice President, RMBS and Covered Bonds (Structured Finance and Securitisation Analyst, Residential Mortgage-Backed Securities)
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The Role
Morningstar DBRS' European Structured Finance team is looking for a securitisation analyst at Assistant Vice President (AVP) level to be based in London. The successful candidate will act as lead analyst in assigning ratings for European RMBS and Covered Bond transactions.
Candidates should be willing to work in an environment with strong focus on teamwork, have a strong worth ethic, an analytical mind set and attention to detail. The successful candidate will possess the interpersonal and presentation skills necessary to work with all levels of professional and executive staff as well as external contacts.
The role offers an opportunity to further develop European Structured Finance and Covered Bond experience in a client facing environment.
Job Responsibilities
The AVP will join the European RMBS and Covered Bond team and will be responsible for the following:
Qualifications
Nice to have
Base Salary Compensation Range
GBP 67,500.00-98,500.00
Bonus Target:
20% Annual
Base Salary Compensation Range
0.00-0.00
Bonus Target:
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.
Candidates should be willing to work in an environment with strong focus on teamwork, have a strong worth ethic, an analytical mind set and attention to detail. The successful candidate will possess the interpersonal and presentation skills necessary to work with all levels of professional and executive staff as well as external contacts.
The role offers an opportunity to further develop European Structured Finance and Covered Bond experience in a client facing environment.
Job Responsibilities
The AVP will join the European RMBS and Covered Bond team and will be responsible for the following:
- Act as lead and backup analysts in the assignment of DBRS ratings to UK & European RMBS / Covered Bond transactions and, occasionally, transactions in other European structured finance asset classes (such as ABS, CLOs, NPL or Lease Securitisations);
- Conduct credit analysis utilising DBRS rating methodologies and analytical tools;
- Conduct period review of rating methodologies and lead improvement to rating methodologies and processes;
- Support senior analysts and team lead in administrative work, filing and record retention requirements;
- Study recent performance trends for transactions. The metrics to be evaluated include, among others: credit enhancement, delinquencies, cumulative defaults, recoveries, prepayments, seasoning, excess spread and changes in collateral characteristics;
- Draft analytical documents, such as rating reports, press releases and research;
- Collaboration with the DBRS European Structured Finance Surveillance Team and other teams/analysts, supporting analysts in maintenance of existing ratings;
- Assess transaction amendments/restructurings;
- Draft new rating committee memos summarising the analysis and recommending a rating action;
- Comply with all applicable policies and procedures.
Qualifications
- Minimum 5 years experience on any structured finance asset class such as ABS, RMBS and SME-CLO transactions, working in rating agency, research, buy side or sell side;
- Completed a bachelor (or equivalent) degree in a subject such as finance, mathematics, financial engineering, economics, accounting or similar quantitative discipline;
- Quantitative background and interest to develop quantitative skills including cash flow analysis;
- Proficiency in Microsoft Excel. Advanced knowledge and practical skills in using Word, PowerPoint and Outlook;
- Excellent written and oral English language skills;
- Demonstrated analytical abilities, with a high attention to detail and producing high quality work;
- Willingness and ability to learn new analytical approaches proactively, to think creatively, and to work well within a team;
- Curiosity to develop new applications and to perform complex analyses, and ability to learn new analytical approaches proactively;
- Ability and willingness to learn new analytical approaches proactively, to think creatively, and to work well within a team;
- Permission to live and work in UK. This position may require occasional European travel.
Nice to have
- Knowledge of analytical programming languages (VBA, Python, etc.) is a plus;
- Knowledge of another European language/s is a plus;
- Masters degree, CFA or accounting designation (enrollment or completion) are a plus.
Base Salary Compensation Range
GBP 67,500.00-98,500.00
Bonus Target:
20% Annual
Base Salary Compensation Range
0.00-0.00
Bonus Target:
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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Morningstar Compensation & Benefits Highlights
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Leave & Time Off Breadth — A recurring paid sabbatical combined with flexible time off in North America and regionally set PTO provides substantial time-away flexibility. Paid volunteer days further broaden the time-off offering.
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Parental & Family Support — A global minimum of paid parental leave for primary and secondary caregivers, along with paid caregiving leave, signals strong family support. Adoption-assistance reimbursement adds another layer of care for growing families.
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Retirement Support — Retirement programs include employer matching or fixed contributions and free access to Morningstar retirement-planning tools. These elements support long-term savings alongside the broader total-rewards package.
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What We Do
At Morningstar, we believe in building great products in-house in a highly collaborative, agile environment where we focus on technical excellence, the user experience, and continuous improvement. Our technologists represent a range of skills and experience levels, but they all view their work as a craft and push technology’s boundaries.
Why Work With Us
Imagining big things is in our blood -- it's transformed us from a company with just a few employees in 1984 to a leading independent investment research company with a worldwide presence today. As of April 2020, we acquired Sustainalytics to drive long-term meaningful outcomes for investors in the ESG space. Join us on this exciting journey!
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Hybrid Workspace
Employees engage in a combination of remote and on-site work.
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