VP, US Structured Credit Ratings, Funds - New Issue

About the Role

Morningstar DBRS is seeking a Vice President to join the Funds new issue credit ratings team, which is part of the U.S. Structured Credit (US SC) team.

A successful candidate will have relevant experience in fund finance and or rating agency work. The role requires sector knowledge, strong analytical and quantitative skills, attention to detail, and the ability to thrive in a collaborative, team-oriented environment.

US SC is a credit rating analytics team that assigns and monitors credit ratings, develops research and maintains credit rating methodologies for investment fund debt (including feeder fund debt, subscription lines and collateralized fund obligations (CFOs)), collateralized loan obligations (CLOs), other corporate securitizations and bespoke credit rating opportunities.

Job Responsibilities

• Lead analyst responsible for assigning new credit ratings on various fund financing transactions, including but not limited to, feeder fund debt, main fund secured facilities and unsecured debt, subscription loan facilities, and collateralized fund obligations.
• Prepare for and lead management meetings and maintain issuer/client relationships.
• Lead external client calls to discuss methodologies and transaction proposals.
• Prepare and present detailed discussion and committee memos for US SC credit rating committees.
• Author pre-sale and new issue credit rating reports, among other relevant disclosures.
• Conduct analysis on the fund manager’s capabilities and track record, the fund investment portfolio, transaction capital structure, and legal documents.
• Assess legal, regulatory, counterparty and other risks related to US SC credit ratings.
• Prepare and present new transactions to senior members of the Structured Finance team to determine feasibility and methodology application.
• Support the expansion of the Funds team by championing projects and initiatives.
• Mentor junior analysts.
• Write research and participate in webinars, investor meetings and conferences.
• Collaborate with other Morningstar DBRS credit teams to support credit rating surveillance, analysis, administration and research.
• Adhere to compliance, regulatory and company policies and procedures.

Qualifications

• Undergraduate degree in finance, accounting, business, economics or related discipline is required.
• 7+ years’ relevant experience, with experience in structuring or analyzing feeder funds or CFOs preferred. Other relevant experience could include:
• Funds, BDC or CLO credit ratings-related work,
• Investment banking or legal counsel focusing on funds-related work,
• Credit risk management function focusing on credit funds, or
• Other relevant experience as a market participant
• Strong interest in credit funds, BDCs, CLOs, private credit and/or private equity encouraged.
• Proficiency in Microsoft Office suite, with advanced skills in Excel, such as building complex formulas or models, pivot tables and graphs.
• Solid research and analytical skills, with acute attention to detail.
• Strong verbal and written communication skills to prepare clear and concise committee materials and reports in proper and professional etiquette.
• Willingness and ability to learn new analytical approaches proactively.
• Self-starter with ability to prioritize and complete critical work quickly, independently and with a sense of urgency.
• Ability to work in a fast-paced environment, multi-tasking to meet multiple deadlines.
• Must be a team player with strong interpersonal skills with the ability to motivate team members to produce timely and accurate work product.

Nice to Have

• Rating agency experience for a smoother transition into the nuances and rigors of the rating processes and understanding credit rating methodologies.
• Knowledge of analytical programming language (VBA, Python, etc.) 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.

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

Base Salary Compensation Range

$110,000.00 - 205,000.00 USD Annual

Incentive Target Percentage

30% Annual

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.

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