Assistant Vice President, European Structured Finance - NPL Surveillance

DBRS Morningstar is seeking an experienced Non-Performing Loans (NPL) securitisation analyst at the AVP level for its European Structured Finance team, based in Frankfurt or Madrid. The role involves leading surveillance for a portfolio of European NPL structured finance transactions, mentoring junior analysts, conducting credit and cash flow analysis, and reviewing performance trends. The successful candidate will also collaborate on new ratings, work with arrangers on transaction amendments, and prepare rating committee memos and market research.

Must Have

• Lead surveillance analyst for a portfolio of ongoing ratings of European NPL structured finance transactions.
• Mentor and train junior analysts.
• Conduct portfolio credit analysis utilising DBRS Morningstar rating methodologies.
• Analyze asset-liability cash flow structures using DBRS Morningstar tools.
• Study recent performance trends for transactions, including recovery amounts and credit enhancement.
• Review and approve publication of performance analytics reports.
• Collaborate with other European Structured Finance teams.
• Work with arrangers and issuers on transaction amendments/restructurings.
• Conduct on-site or video conference reviews of underwriting and servicing.
• Prepare high quality surveillance and new rating committee memos.
• Write and publish press releases, rating reports, and market research.
• Develop and maintain analytical tools and reports.
• Ensure compliance with all applicable policies and procedures.
• Completed a bachelor's degree in finance, mathematics, financial engineering, economics, accounting or similar quantitative discipline.
• 5+ years of experience in the financial services industry.
• Deep knowledge of NPLs and structured finance NPL transactions, including legal document review and cash-flow analysis.
• Strong analytical skills with high attention to detail.
• Ability to quickly adopt new analytical approaches, think creatively, and collaborate effectively within a team.
• Proficiency in Microsoft Excel and advanced knowledge of Microsoft Office programs.
• Excellent written and oral English language skills.
• Permission to live and work in the European Union.

Good to Have

• CFA, accounting designation, and/or a Masters in a related field.
• Knowledge of analytical programming languages (VBA, Python, etc.).
• Knowledge of another European Language/s.

Perks & Benefits

• Hybrid work environment (four days in-office each week in most locations)
• Flexibility benefits
• Tools and resources to engage meaningfully with global colleagues

About the Role

DBRS Morningstar European Structured Finance team is looking for an experienced Non-Performing Loans (NPL) securitisation analyst at the AVP level to be based in Frankfurt or Madrid. Candidates should have a strong worth ethic, an analytical mind and an attention to detail. The successful candidate will be poised and possess the interpersonal and presentation skills necessary to work with all levels of professional and executive staff as well as external contacts.

Job Responsibilities

• Lead surveillance analyst for a portfolio of ongoing ratings of European NPL structured finance transactions rated by Morningstar DBRS.
• Mentoring and training more junior analysts.
• 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 tools.
• Study recent performance trends for transactions. The metrics to be evaluated include, among others: actual recovery amount and actual recovery timing versus expectations, credit enhancement, and rating and financial conditions of key entities.
• 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 NPL transactions and being able to work as lead primary analyst.
• Working with arrangers and issuers on transaction amendments/restructurings and when working on assigning new ratings.
• Conducting on-site or video conference reviews of underwriting and servicing of transaction originators/sellers with operational risk analyst.
• Prepare high quality surveillance and new rating committee memos summarising the analysis and recommending a rating action.
• Writing & publishing press releases, rating reports and market research.
• Develop and maintain analytical tools and reports for internal and external use.
• Ensure compliance with all applicable policies and procedures.

Qualifications

• Completed a bachelor (or equivalent) degree in a subject such as finance, mathematics, financial engineering, economics, accounting or similar quantitative discipline.
• 5+ years of experience in the financial services industry.
• Deep knowledge of NPLs and structured finance NPL transactions, including legal document review and cash-flow analysis.
• Strong analytical skills with high attention to detail, delivering high-quality work while managing workload independently and meeting tight deadlines.
• Ability to quickly adopt new analytical approaches, think creatively, and collaborate effectively within a team.
• Proficiency in Microsoft Excel; advanced knowledge of Microsoft Office programs.
• Excellent written and oral English language skills.
• Permission to live and work in the European Union. This position may require occasional European travel.

Nice to have

• CFA, accounting designation and/or a Masters in a related field are considered definite assets.
• Knowledge of analytical programming languages (VBA, Python, etc.).
• Knowledge of another European Language/s is a plus.

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.

R10_DBRSRtgsGmbHSpain DBRS Ratings GmbH Sucursal en España - Spain Legal Entity