Assistant Vice President, Credit Ratings - Project & Infrastructure Finance

Morningstar, Inc.; Toronto; Hybrid; CAD 100,000 - 150,000; Full time

Job summary

Morningstar, Inc. is looking for an Assistant Vice President to join their Global Project Finance team in Toronto. In this role, you will be responsible for credit analysis related to various transactions in project and infrastructure finance. The ideal candidate has 5-7 years of experience and a strong background in financial modeling and analysis.

Benefits

Hybrid work environment

Flexibility to work remotely

Qualifications

• Five to seven years of experience in credit analysis, ideally in project finance.
• Completion of, or progress towards the CFA program is preferred.

Responsibilities

• Perform financial statement analysis and use financial models.
• Draft rating reports and compile committee materials.
• Produce high-quality credit reports on rated entities.

Skills

Financial modeling

Analytical skills

Research skills

Communication skills

Teamwork

Education

Degree in business, economics, commerce, or engineering

Job description

The Global Project Finance & Infrastructure Finance team is seeking a highly motivated individual, preferably with five to seven years of experience as a credit analyst with a background in project and infrastructure finance, to join its team of analysts in Toronto as an Assistant Vice President. Working closely with members of the team in New York and Toronto, the successful candidate will largely be responsible for supporting the Canadian based portfolio, which includes performing financial statement analysis, using financial models, drafting rating reports, compiling rating committee materials and having a well-developed understanding of the overall credit analysis process.

About the Role

The successful Candidate will work on a variety of transactions as a rating analyst, performing lead and supporting analyst responsibilities within project and infrastructure finance, including power and renewable energy (e.g. natural gas, wind, solar, hydro generation), digital infrastructure (e.g. data centers, telecommunications cell towers, fiber networks) and broader infrastructure assets (PPPs, toll roads, airports, ports and stadiums). The role involves performing contract documentation review, financial statement analysis, using financial models, drafting rating reports and press releases, compiling rating committee materials and publishing high quality and timely topical research.

Responsibilities

• Assist with covering the existing North American ratings portfolio as a rating analyst.
• Attend issuer and investor meetings with the Sector Lead(s) in Project Finance and Infrastructure Finance and other lead analysts to gain exposure to the ratings portfolio and the analytical approach.
• Build on existing knowledge of the industry and further expand the network.
• Initially contribute to new rating assignments as a rating analyst supporting lead analysts and eventually act as a lead analyst on a variety of assets classes within the sector.
• Produce timely, high-quality credit reports, research notes and commentaries on rated entities.
• Manage extensive spreadsheets on rated entities.
• Contribute to the development and maintenance of relationships with fixed-income investors.
• Analytically support business development initiatives.
• Contribute to the refinement of methodologies, research products and rating approaches.
• Support the team on the delivery of timely and innovative topical research.

Qualifications

• Five to seven years of experience as a financial analyst (preferably in credit), with a minimum of two years experience related to Project and Infrastructure Finance.
• Degree in business, economics, commerce, engineering or a related discipline.
• Solid research, analytical and financial modelling skills, with a high attention to detail.
• Experience in reviewing financing agreements and legal contracts from a credit point of view.
• Strong communication skills, both oral and written.
• Self-starter and strong team player and a demonstrated ability to work in a fast-paced environment.
• Completion of, or demonstrated progress towards the CFA program is preferred.
• Experience in public-private partnerships and/or diversified industries (i.e. utilities, Independent Power Producers) is an asset.
• Previous rating agency experience is an asset.

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 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.

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