Senior Analyst, Credit Ratings (Structured Finance & Securitisation - RMBS, ABS, SME-CLO)
Morningstar DBRS European Structured Finance team is looking for a Securitisation Analyst at the Senior Analyst level to be based in our London office.
We're looking for candidates with a strong work ethic, an analytical mindset, and excellent attention to detail. The ideal candidate will also demonstrate the interpersonal and presentation skills needed to collaborate effectively 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:
- Completed a bachelor (or equivalent) degree in a subject such as finance, mathematics, financial engineering, economics, accounting or similar quantitative discipline.
- Minimum 2+ years of experience in the financial services industry.
- Knowledge of ABS and RMBS transactions.
- Experience in reviewing legal documents and conducting cash-flow analysis for structured finance transactions.
- Proficiency in Microsoft Excel. Advanced knowledge and practical skills using rest of Microsoft Office programs.
- Excellent English communication skills, both written and spoken.
- Demonstrated analytical abilities, with a high attention to detail and producing high quality work.
- Ability to meet tight deadlines and manage her/his own workload independently.
- Willingness and ability to learn new analytical approaches proactively, to think creatively, and to work well within a team.
- Permission to live and work in the UK. This position may require occasional European travel.
Additional, preferred skills:
- CFA, accounting designation and/or a Masters in a related field are a plus.
- Knowledge of analytical programming languages (VBA, Python, etc.) is a plus.
- Knowledge of another European Language/s is a plus.
Base Salary Compensation Range
GBP 54,800.00-66,933.33
Bonus Target:
15% 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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