Analyst, US Structured Credit Ratings - CLOs

About the Role

U.S. Structured Credit (US SC) is a credit rating team that assigns and monitors public and private credit ratings, develops research and maintains credit rating methodologies for collateralized loan obligations (CLOs), investment fund debt, and other corporate securitizations and bespoke credit rating opportunities. The new Analyst will support the credit ratings transaction analytics and surveillance of outstanding credit ratings on the U.S. Structured Credit team. This position is an entry-level role designed to develop foundational experience in structured credit risk and securitization. The Analyst will develop essential skills in transaction structuring, financial modeling, risk assessment, and private credit and equity market, while ensuring compliance with internal policies and regulations.

This is a unique opportunity to be part of a very dynamic, collaborative team that works in a fast-paced environment. We offer an abundance of opportunities, a lot of support and mentoring to help our analysts develop highly desirable and competitive skills in the private equity space.

Job Responsibilities

• Assist with transaction analytics for new issue and surveillance ratings for CLOs, funds, subscription loans, collateralized fund obligations, and other credit ratings. Specifically:
• Assist with portfolio analysis by applying Morningstar DBRS (MDBRS) developed predictive models.
• Assist with asset-liability cash flow analysis by applying MDBRS developed cash flow engines.
• Assist with data analysis by applying MDBRS rating methodologies and analytical tools.
• Support lead analysts in reviewing legal documentation and term structures by interpreting transaction terms for modeling input
• Provide timely client feedback, participate in client discussions
• Assist surveillance analysts monitoring ratings and transaction performance
• Support production of discussion and rating committee material
• Assist with the publishing workflow, including regulatory disclosures.
• Become a power user in both excel and web-based workflows for all US SC rating models. Articulate assumptions and applications & provide walk-throughs for internal and external users.
• Participate in market research on structured credit, financial and economic news and assist with research publications

Qualifications

• Completed a bachelor’s degree or higher in a related discipline such as finance, economics, physics, mathematics, computer science, engineering, or similar quantitative discipline.
• 0-2 years of professional work experience. All internships will be taken into consideration.
• Excellent written and oral communication skills.
• Quantitative background and interest in developing quantitative skills including cash flow analysis.
• Advanced knowledge and practical skills in using Microsoft Excel, Word, PowerPoint and Outlook.
• Demonstrate analytical abilities, with a high attention to detail and producing high quality work.
• Willingness and ability to learn new analytical approaches proactively.
• Willingness and ability to think creatively.
• Ability to work in a fast-paced environment with multiple deadlines and competing priorities.
• Self-starter with ability to prioritize and complete critical work quickly, independently and with a sense of urgency.
• Must be team player with strong interpersonal skills.

Nice to Have

• Financial industry experience.
• Structured finance experience. Experience with CLOs is a plus.
• Knowledge of analytical programming languages (Python, etc.) is a plus.
• Interest in completing or working towards completion of the CFA program.

Compensation and Benefits

At Morningstar we believe people are at their best when they are at their healthiest. That’s why we champion your wellness through a wide-range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:

• Financial Health
• 75% 401k match up to 7%
• Stock Ownership Potential
• Company provided life insurance - 1x salary + commission

• Physical Health
• Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages
• Additional medical Wellness Incentives - up to $300-$600 annual
• Company-provided long- and short-term disability insurance

• Emotional Health
• Trust-Based Time Off
• 6-week Paid Sabbatical Program
• 6-Week Paid Family Caregiving Leave
• Competitive 8-24 Week Paid Parental Bonding Leave
• Adoption Assistance
• Leadership Coaching & Formal Mentorship Opportunities
• Annual Education Stipend
• Tuition Reimbursement

• Social Health
• Charitable Matching Gifts program
• Dollars for Doers volunteer program
• Paid volunteering days
• 15+ Employee Resource & Affinity Groups

Morningstar’s hybrid work environment gives you the opportunity to work remotely and collaborate in-person each week. While some positions are available as fully remote, we’ve found that we’re at our best when we’re purposely together on a regular basis, typically three days 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.