Assistant Vice President - CMBS Credit Ratings

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The Role: Morningstar DBRS European CMBS team is looking for an Assistance Vice President - Senior Analyst to be based in London or Frankfurt. The successful candidate will support European CMBS lead analysts in rating new and in monitoring the rating of existing European CMBS transactions rated by Morningstar DBRS. Candidates should be willing to work in an environment with strong focus on teamwork, have a strong work ethic, an analytical mindset and attention to detail.

The successful candidate may occasionally be involved in the rating process of other European structured finance asset classes. In addition, he or she will assist in the update of the European CMBS rating methodology, as well as be involved in research projects.

Responsibilities

1. Provide support in the CMBS rating process for European transactions; predominantly in underwriting commercial real estate loans in accordance with Morningstar DBRS’s European CMBS rating methodology.
2. Provide credit analysis and use quantitative tools to assess the credit worthiness of single-loan and multi-loan European CMBS.
3. Determine and monitor Morningstar DBRS net cash flow assumption for all major property types (office, retail, logistics, multifamily, hotel) and a variety of loan sizes (EUR10 million to >EUR500 million) based on property performance, market dynamics and loan structure.
4. Lead the publication of European CMBS performance analytics reports on www.dbrs.com.
5. Accompany senior analysts and ultimately represent Morningstar DBRS at site inspections of all major property types throughout Europe.
6. Help produce detailed committee memos as well as assist drafting published presale and rating reports distributed to investors containing the culmination of research and analysis.
7. Present loan level analysis, transaction structural summaries and quantitative results to credit committee.
8. Conduct market research and financial analysis for rating committees, research, investor meetings and conferences.
9. Assist senior members of the team to develop reports for investors and for presentations to be delivered at conferences.
10. Respond to client and colleague inquiries regarding methodologies, analysis and research.

Qualifications

1. Completed a bachelor (or equivalent) degree in finance, real estate or a related area.
2. A Master, CFA or accounting designation (enrolment or completion) and experience in securitization are considered definite assets.
3. Previous work-experience in the financial services industry (especially in the commercial real estate sector) is a plus.
4. Basic understanding of European CMBS transactions.
5. Proficiency in Microsoft Excel. Advanced knowledge and practical skills in using Word, PowerPoint and Outlook.
6. Knowledge of analytical programming languages (VBA, Python, etc.) is a plus.
7. Excellent written and oral English language skills.
8. Knowledge of another European language/s is a plus.
9. Demonstrated analytical abilities, with a high attention to detail and producing high quality work.
10. Curiosity to develop new applications and to perform complex analyses, and ability to learn new analytical approaches proactively.
11. Must be available and able to travel across Europe occasionally as part of the role.

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