Senior Analyst, Credit Ratings, European ABS

Morningstar; Frankfurt; On-site; EUR 52,000 - 74,000; Full time

Job summary

Morningstar DBRS is seeking a Senior Analyst to join its European Structured Finance ABS team in Frankfurt. You will act as a rating analyst on Morningstar DBRS-rated transactions and support lead analysts in assigning and maintaining credit ratings for European ABS deals.

Strong analytical skills and cross-functional collaboration are essential. You will develop expertise in Morningstar DBRS methodologies, work in a team-oriented environment, and have opportunities to deepen European structured

Qualifications

• Minimum 2 years of experience in structured finance or wider financial services with exposure to risk management and/or consumer lending.
• Direct credit rating experience would be an advantage but is not essential.
• Excellent written and oral English; French is a plus.
• Proven analytical abilities with high attention to detail and work quality.
• Strong quantitative skills and experience in cash flow analysis and managing large data sets.

Responsibilities

• Support lead analysts in evaluating credit risk and assigning ratings following methodologies.
• Assist in surveillance of selected structured finance transactions.
• Understand and apply credit rating methodologies and analytical tools.
• Analyse cash flow structures using intended tools and Intex products.
• Review documentation and prepare materials for rating committees and external use.
• Coordinate inputs from analysts, manage competing priorities and deadlines.
• Ensure compliance with regulations and company policies.

Skills

Interpersonal skills

Presentation skills

Communication skills

Analytical mindset

Attention to detail

Teamwork

Time management

Willingness to travel

Education

Bachelor’s degree in finance/financial engineering or quantitative discipline

Tools

Excel

VBA

Python

Intex

Cash flow tools

Microsoft Office

Job description

About the role

Morningstar DBRS is seeking a highly motivated individual to join its European Structured Finance Asset-Backed Securitisation (ABS) team at the Senior Analyst (SA) level. The successful candidate will act as a rating analyst on Morningstar DBRS-rated transactions and support lead analysts in conducting the activities required to assign and/or maintain credit ratings for European ABS transactions. The successful candidate should possess strong interpersonal, presentation, and communication skills, enabling them to work effectively with colleagues and external contacts at all levels of seniority. The candidate will develop and/or deepen their understanding of the ABS sector and will be required to acquire and maintain a strong understanding of the relevant Morningstar DBRS credit rating methodologies. The candidate is expected to thrive in a team-oriented environment and demonstrate a strong work ethic, an analytical and quantitatively oriented mindset, and a high level of attention to detail. This position offers significant opportunities to further develop European structured finance expertise in a client-facing environment.

Responsibilities

• Support lead analysts, managing the process of evaluating credit risk and assigning credit ratings, while adhering to the relevant credit rating methodologies.
• Support lead analysts in the surveillance of selected structured finance transactions.
• Understand and apply Morningstar DBRS’ credit rating methodologies, criteria and analytical tools.
• Understand and/or analyse the cash flow structures of ABS transactions using Morningstar DBRS’ cash flow tools and Intex products.
• Analyse collateral and transaction performance trends for existing transactions and contribute to relevant research.
• Review transaction legal documentation, memoranda, transaction summaries and presentations in conjunction with Morningstar DBRS’ methodologies.
• Prepare analytical materials for and participate in rating committees, including presenting analytical conclusions as appropriate.
• Draft, contribute to, review and/or finalise analytical documentation for both internal and external use, including discussion papers/memoranda, rating reports, press releases, research commentaries, presentations and industry reports under supervision of lead analysts.
• Communicate analytical conclusions clearly and effectively to internal committees and, where appropriate, issuers, arrangers, originators, legal counsel and other transaction parties.
• Review transaction amendments and assess their potential credit impact.
• Participate in reviews of originators and servicers in conjunction with operational risk analysts.
• Assist with the publishing workflow, including relevant regulatory disclosures.
• Take ownership of assigned transactions and analytical workstreams, including coordinating inputs from other analysts and managing competing priorities and deadlines.
• Review analytical work prepared by junior analysts and provide appropriate guidance and feedback.
• Adhere to compliance, regulatory and company policies and procedures.

Qualifications

• Minimum 2 years of experience in structured finance or wider financial services industry with exposure to risk management and/or consumer lending.
• Direct credit rating experience would be an advantage but is not essential.
• Excellent written and oral English. Proficiency in other European languages, particularly French, is an advantage.
• Proven analytical abilities with a high level of attention to detail and work quality.
• Strong quantitative skills and experience in cash flow analysis and the ability to manage large data sets are preferred.
• Bachelor’s degree (or equivalent) in finance, financial engineering or another quantitative discipline.
• Experience in ABS transactions and/or understanding of European consumer finance, particularly in credit card or consumer loan lending, is an advantage.
• Understanding of ABS legal documentation is a plus.
• Proficiency in Microsoft Excel and other Microsoft Office applications.
• Knowledge of programming languages and analytical tools (including VBA, Python, etc.) is a plus.
• Ability to manage multiple projects and work both collaborative and independently in a dynamic environment under tight deadlines.
• Ability to solve problems proactively and creatively.
• Permission to work in the European Union.
• Occasional travel within Europe is required.

Base Salary Compensation Range EUR 51,500.00-74,167.00 Bonus Target: 15% Annual

If you receive and accept an offer from us, we require that personal and any related investments be disclosed confidentially to our Compliance team. 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.

Company overview

Morningstar DBRS is a leading provider of independent credit rating services and opinions for corporate and sovereign entities, financial institutions, and project and structured finance instruments globally. We are one of the top four credit rating agencies in the world and a market leader in Canada, the U.S., and Europe in multiple asset classes.

Company commitment

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.