Vice President, Corporate Real Estate Ratings - North America

Morningstar Credit Ratings, LLC; Toronto; Hybrid; CAD 109,000 - 161,000; Full time

Benefits offered by this job

Hybrid work model

Annual incentive plan

Job summary

Morningstar DBRS in Toronto seeks a Vice President for the North American Corporate Real Estate Ratings team. You will lead coverage of Canadian real estate entities, assess creditworthiness, and collaborate with senior leaders on rating processes and methodologies.

You will perform financial analysis, forecast performance, review legal documents, and mentor junior staff while engaging with issuers and investors at conferences. Hybrid, global scope, CFA preferred.

Qualifications

• Eight years of experience in credit, finance and/or banking in financial services and real estate.
• Expert knowledge of Canadian commercial real estate industries and challenges across segments/geographies.
• In-depth understanding of legal documentation related to real estate transactions.
• Strong financial statement analysis with IFRS and US GAAP familiarity as it relates to real estate.
• Strong research skills and attention to detail.
• Excellent verbal and written communication.
• Willingness to travel.
• Bachelor’s degree in a relevant discipline; master’s or CFA would be advantageous.

Responsibilities

• Lead new or lead coverage of a broad range of real estate entities.
• Contribute to rating assignments in Canada and the U.S.
• Perform company and industry research, analyze financial statements, prepare forecasts, assess management strategy.
• Review legal documentation related to credit analysis.
• Prepare rating committee materials and lead presentations.
• Produce rating reports, press releases and sector commentaries.
• Contribute to development and refinement of rating methodologies.
• Mentor junior analysts.
• Develop and solidify relationships with issuers, investors, intermediaries.
• Present at industry and debt capital market events.
• Ensure regulatory compliance and policy adherence.

Skills

Credit analysis

Financial statement analysis

IFRS/US GAAP knowledge

Research skills

Communication skills

Travel

Team player

Education

Bachelor's degree in a relevant discipline

Master's degree or professional designation

CFA completion considered favourably

Job description

Position Summary

Position Summary The North American Corporate Real Estate Ratings team of Morningstar DBRS is seeking a highly motivated individual with a minimum of eight years of relevant experience in corporate credit analysis, research, or investment banking and a strong understanding of the Canadian real estate sector to join the team in Toronto as a Vice President. Working closely with the Managing Director, Sector Lead, and other members of the Real Estate group, the successful candidate will be primarily responsible for new coverage (public and private) of the Canadian real estate sector and maintaining existing coverage of Canadian real estate mandates. This highly visible role involves assessing the creditworthiness of a new and existing portfolio of real estate entities, including real estate investment trusts, real estate operating companies, pension plan owned real estate entities, and real estate funds. This position reports directly to the Senior Vice President, Sector Lead of North American Corporate Real Estate.

Primary Responsibilities

• Lead new and/or assume lead coverage of a broad range of real estate entities.
• Contribute to new and existing rating assignments, both in Canada and the US.
• Perform company and industry research, financial statement analysis, prepare forecasts and assess management strategy to inform rating recommendations.
• Review of legal documentation related to credit analysis.
• Prepare rating committee materials and lead rating committee presentations.
• Produce timely, high-quality rating reports, press releases and commentaries on rated entities and industry sector research.
• Contribute to the development and refinement of existing and new rating methodologies.
• Contribute to the development and mentoring of junior analysts.
• Develop and solidify relationships with issuers, investors, intermediaries, and other stakeholders.
• Speak and participate at conferences, including industry and debt capital market events.
• Adhere to rigorous regulatory requirements and Morningstar DBRS policies and procedures, which include detailed record-keeping, training, and compliance.

Requirements

• Minimum of eight years of experience in credit, finance and/or banking within the financial services and real estate industries.
• Expert knowledge of Canadian commercial real estate industries and challenges facing companies in different real estate segments and geographies.
• In-depth understanding of legal documentation associated with real estate transactions.
• Strong financial statement analytical abilities with solid knowledge of IFRS and working knowledge of US GAAP accounting as it relates to real estate.
• Strong research skills and attention to detail.
• Excellent communication skills, both verbal and written.
• Self-starter and team player with demonstrated ability to work in a fast-paced environment.
• Travel is required.
• Bachelor’s degree (relevant discipline) with a professional designation or a master’s degree required.
• Completion of the CFA program would be considered favourably.

Base Salary Compensation Range $109,489.00-160,711.00

Incentive Target Percentage 30% Annual

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.

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.

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 is strongly committed to creating and preserving equal opportunity for all employees and applicants. We make all employment decisions—including recruitment, hiring, compensation, training, promotion, transfer, discipline, termination, and other personnel matters—without regard to race, color, ancestry, religion, sex, national origin, age, disability, protected veteran status, marital status, sexual orientation, genetic information, citizenship, gender identity and expression, parental status, or other legally protected characteristics or conduct.

Legal Entity

R08_DBRSLtdCanada DBRS Limited - Canada Legal Entity Morningstar is a global independent investment research and financial data company. Here, you'll help uncover what’s hidden, simplify what’s complex, and create insights that empower investor success.

Company Overview

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