Senior Legal Counsel - Morningstar DBRS

Morningstar; Toronto; On-site; CAD 120,000 - 160,000; Full time

Job summary

A global rating agency is seeking a Senior Legal Counsel to oversee legal affairs across jurisdictions, ensuring compliance and supporting business initiatives. This role involves negotiating agreements, maintaining legal documents, and advising on regulatory matters. Ideally, candidates will have a law degree, be admitted in Illinois, New York, or Ontario, and possess at least 10 years of experience in financial services. The role offers a hybrid work environment with opportunities for collaboration.

Benefits

Hybrid work environment

Flexible benefits

Qualifications

• At least 10 years of financial services experience in a regulated business.
• Knowledge of structured finance and capital markets.
• Experience managing a small team is an asset.

Responsibilities

• Provide legal support to commercial business initiatives.
• Negotiate various agreements related to credit ratings.
• Maintain and organize contractual documentation.
• Ensure compliance with applicable laws and regulations.

Skills

Strong business acumen

Leadership skills

Integrity

Excellent judgement

Communication skills

Drafting skills

Problem-solving skills

Attention to detail

Collaborative teammate

Education

Law degree

Admitted to practice in Illinois, New York or Ontario

Job description

Position Summary

Morningstar DBRS is a dynamic global organization that operates within a highly regulated industry.

We are seeking a Senior Legal Counsel (SLC) who will be based in either Chicago, Toronto, or New York. The SLC will report directly to the Morningstar Global Head of Regulatory Strategy and Advisory Legal, a direct report of the Chief Legal Officer. The SLC will have a direct report an attorney in Madrid covering Europe and will work in close coordination with an attorney in Toronto covering North America. The SLC will work closely with Morningstar DBRSs business leaders and will be responsible for the leadership development and management of legal affairs for commercial activity across all jurisdictions in which Morningstar DBRS carries on business.

As a critical member of the Morningstar DBRS team the SLC will be expected to operate at a strategic level in a fast‑paced dynamic environment; to advise business leaders and assist in making informed and balanced decisions to help shape and move the business forward. This role requires the SLC to think strategically about the growth of the Morningstar DBRS business internationally but also requires the SLC to efficiently manage several different commercial matters simultaneously with an emphasis on getting the work done.

Responsibilities

Given the amount and variety of activity coupled with the evolving culture of Morningstar DBRS as a result of continuous growth as well as the evolving landscape in the various jurisdictions the SLC will need to be very hands‑on and have the ability to deal with a broad range of commercial legal matters.

While not an exhaustive list here are some examples of day‑to‑day activities the SLC will be involved in :

• Providing legal support to commercial business initiatives and supporting the Morningstar DBRS business development team in carrying out their activities. This will include negotiating and advising on letters of engagement, confidentiality agreements, requests for proposals and due diligence inquiries with/from companies seeking to engage Morningstar DBRS to assign credit ratings.
• Negotiating and advising on credit rating data feed agreements and website subscriptions; and supporting the Morningstar DBRS data products team in carrying out their activities.
• Reviewing, negotiating and advising on non‑reliance and hold harmless letters from accounting firms and others providing reports in the credit analytical function and supporting the Morningstar DBRS credit analytics teams in relation to this.
• Negotiation, drafting and reviewing of Morningstar DBRS commercial contracts related to data service providers, sponsorship agreements, procurement contracts and other agreements.
• Maintaining and organizing the relevant contractual documentation in a logical and systemic manner.
• Working closely with the Morningstar DBRS Compliance team, the Morningstar Legal team and the Morningstar DBRS teams to ensure that Morningstar DBRS is properly managing legal compliance and regulatory responsibilities as well as ensuring commercial practicality and protecting the organization’s reputation.
• Ensuring that Morningstar DBRS commercial activities are conducted in accordance with applicable laws and the commercial requirements of those with whom it does business.
• In conjunction with the Morningstar Privacy team reviewing Morningstar DBRS processes to ensure that Morningstar DBRS complies with all applicable data protection legislation.
• Serving as a resource in the maintenance of corporate filings, opening of offices in new markets, managing and coordinating legal aspects related to Morningstar DBRS.
• Keeping abreast of legal developments particularly those affecting the credit rating agency industry.
• Other matters as assigned and/or determined from time to time.

Qualifications

• Law degree.
• Must be admitted to practice as a lawyer in Illinois, New York or Ontario; other jurisdictions are an advantage.
• At least 10 years of financial services experience ideally in a regulated business coordinating with regulatory and compliance teams.
• Knowledge and familiarity with structured finance, credit ratings and capital markets is an asset.
• Experience in managing a small team as part of a broader global team is an advantage.

Attributes

• Strong business acumen.
• Leadership skills, gravitas and the ability to influence.
• Integrity and a high degree of professional ethics.
• Excellent judgement and analytical skills.
• First‑class interpersonal and communication skills.
• Superior drafting, problem‑solving and attention to detail skills.
• Proven capability to work independently.
• Collaborative teammate and colleague.

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. Most of our locations have a hybrid work model of 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.