Position Summary
- The North American Corporate Real Estate Ratings team of Morningstar DBRS is seeking a highly motivated individual with a minimum of eight years of relevant experience in corporate credit analysis, research, or investment banking and a strong understanding of the Canadian real estate sector to join the team in Toronto as a Vice President.
- Working closely with the Managing Director, Sector Lead, and other members of the Real Estate group, the successful candidate will be primarily responsible for new coverage (public and private) of the Canadian real estate sector and maintaining existing coverage of Canadian real estate mandates. This highly visible role involves assessing the creditworthiness of a new and existing portfolio of real estate entities, including real estate investment trusts, real estate operating companies, pension plan owned real estate entities, and real estate funds.
- This position reports directly to the Senior Vice President, Sector Lead of North American Corporate Real Estate.
Primary Responsibilities
- Lead new and/or assume lead coverage of a broad range of real estate entities.
- Contribute to new and existing rating assignments, both in Canada and the US.
- Perform company and industry research, financial statement analysis, prepare forecasts and assess management strategy to inform rating recommendations.
- Review of legal documentation related to credit analysis.
- Prepare rating committee materials and lead rating committee presentations.
- Produce timely, high-quality rating reports, press releases and commentaries on rated entities and industry sector research.
- Contribute to the development and refinement of existing and new rating methodologies.
- Contribute to the development and mentoring of junior analysts.
- Develop and solidify relationships with issuers, investors, intermediaries, and other stakeholders.
- Speak and participate at conferences, including industry and debt capital market events.
- Adhere to rigorous regulatory requirements and Morningstar DBRS policies and procedures, which include detailed record-keeping, training, and compliance.
Requirements
- Minimum of eight years of experience in credit, finance and/or banking within the financial services and real estate industries.
- Expert knowledge of Canadian commercial real estate industries and challenges facing companies in different real estate segments and geographies.
- In-depth understanding of legal documentation associated with real estate transactions.
- Strong financial statement analytical abilities with solid knowledge of IFRS and working knowledge of US GAAP accounting as it relates to real estate.
- Strong research skills and attention to detail.
- Excellent communication skills, both verbal and written.
- Self-starter and team player with demonstrated ability to work in a fast-paced environment.
- Travel is required.
- Bachelor’s degree (relevant discipline) with a professional designation or a master’s degree required.
Completion of the CFA program would be considered favourably.
Base Salary Compensation Range$109,489.00-160,711.00
Incentive Target Percentage
30% Annual
About Us
Morningstar DBRS is a leading provider of independent rating services and opinions for corporate and sovereign entities, financial institutions, and project and structured finance instruments globally. Rating more than 4,000 issuers and 60,000 securities, it is one of the top four credit rating agencies in the world.
Morningstar DBRS empowers investor success by bringing more transparency and a much-needed diversity of opinion in the credit rating industry. Our approach and size allow us to be nimble enough to respond to customers' needs in their local markets, but large enough to provide the necessary expertise and resources they require. Market innovators choose to work with us because of our agility, tech-forward approach, and exceptional customer service.
Morningstar DBRS is the next generation of credit ratings.
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.
R08_DBRSLtdCanada DBRS Limited - Canada Legal EntitySkills Required
- Minimum eight years of experience in credit, finance and/or banking within financial services and real estate industries.
- Expert knowledge of Canadian commercial real estate industries and segment-specific challenges.
- In-depth understanding of legal documentation associated with real estate transactions.
- Strong financial statement analytical abilities with solid knowledge of IFRS and working knowledge of US GAAP as it relates to real estate.
- Strong research skills and attention to detail.
- Excellent verbal and written communication skills.
- Self-starter and team player with ability to work in a fast-paced environment.
- Travel is required.
- Bachelor's degree with a professional designation or a master's degree.
- Completion of the CFA program.
What the Team is Saying
Morningstar Compensation & Benefits Highlights
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Leave & Time Off Breadth — Time-off policies include flexible PTO and a paid sabbatical every four years, often highlighted as a standout perk. Feedback suggests this structure supports strong work–life balance and meaningful breaks.
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Parental & Family Support — Policies advertise a global minimum of 16 weeks for primary caregivers, up to 8 weeks for secondary caregivers, and at least six weeks of paid caregiving leave. These offerings signal above-average support for family and caregiving needs.
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Retirement Support — Retirement programs feature employer 401(k) contributions/matching, with some postings citing a 75% match on up to 7% of pay. Feedback suggests these offerings are a strong pillar of the package.
Morningstar Insights
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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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.
