Structured Finance Analyst - European Structured Finance, Consumer & Corporate Securitisation Rating

Morningstar, Inc.; City Of London; Hybrid; GBP 95,000 - 120,000; Full time

Job summary

A leading credit rating agency is seeking a Vice President to join their European Consumer & Corporate Securitisation team. This role involves leading the analysis process for credit ratings, managing junior analysts, and requires a minimum of 7 years of experience in structured finance, particularly in ABS transactions. The ideal candidate will have strong analytical skills and leadership abilities, with proficiency in credit rating methodologies. This position offers opportunities for professional development and the option for hybrid work arrangements.

Benefits

Hybrid work environment

Professional development opportunities

Comprehensive health benefits

Qualifications

• Minimum 7 years of credit rating experience in structured finance.
• Experience in ABS transactions and European consumer finance.
• Proficient in cash flow modelling and data management.

Responsibilities

• Act as the lead analyst for credit ratings in ABS and CLO sectors.
• Manage and train junior staff within the team.
• Review and analyze transaction legal documentation for compliance.

Skills

Credit rating experience

Analytical abilities

Attention to detail

Interpersonal skills

Proficient in Microsoft Excel

Education

Bachelor's degree in finance or related field

Tools

Microsoft Office applications

Cash flow analysis tools

Job description

Overview

Morningstar DBRS is seeking a highly motivated individual to join its European Consumer & Corporate Securitisation team at the level of Vice President (VP) as a lead analyst for Morningstar DBRS rated transactions and to conduct all activities required to assign and/or maintain credit ratings of ABS and/or Structured Credit transactions in Europe and, to a lesser extent, in Asia Pacific (APAC).

The successful candidate shall possess strong interpersonal, presentation and communication skills necessary to work with all levels of colleagues and external contacts. The person will develop and/or deepen their understanding of ABS and/or SC sectors and acquire an appropriate understanding of the relevant Morningstar DBRS credit rating criteria. As a VP, they will assist team leaders and/or sector leaders to manage, coordinate and train other members.

The selected candidate will work in a team-focused environment and should have strong work ethics, an analytical and quantitatively oriented mindset, and attention to detail. The position offers broad opportunities to develop European and APAC structured finance experience in a client-facing environment.

Morningstar DBRS is registered with the U.S. Securities and Exchange Commission as a nationally recognized statistical rating organization (NRSRO). Morningstar DBRS is known for innovation and excellence in the structured finance market and aims to increase market transparency by providing high-quality ratings, securities research, monitoring services, operational risk assessments, data, and technology solutions.

Key Responsibilities

The successful candidate will join Morningstar DBRS' European Structured Finance Ratings as a member of the European Consumer & Corporate Securitisation (ECCS) team. Their responsibilities will include:

• Act as the lead analyst, manage and/or coordinate and oversee other lead analysts conducting the process of evaluating credit risk and assigning credit ratings in the ABS and CLO sectors, while adhering to the relevant rating methodology.
• Act as lead and/or support other lead analysts in the process of surveillance of selected securitisation transactions.
• Review transaction amendments if required.
• Apply Morningstar DBRS' credit rating methodologies and analytical tools.
• Analyse the cash flow structures of ABS transactions using Morningstar DBRS' cash flow tools and Intex.
• Analyse performance trends of existing transactions for relevant research.
• Review and/or support or coordinate the review of transaction legal documentation, memoranda, transaction summaries or presentations in conjunction with Morningstar DBRS' methodologies.
• Contribute the review, development and/or interpretation of Morningstar DBRS' methodologies and criteria.
• Draft, contribute to, review and/or finalise analytical documentation for both internal and external use, such as discussion papers/memoranda, rating reports, press releases, research commentaries, presentations and industry reports under supervision of lead analysts.
• Participate in reviews of originators, servicers and/or other relevant parties with operational risk analysts.
• Assist with the publishing workflow, including regulatory disclosures.
• Appropriately delegate and/or oversee the completion of tasks.
• Coach, train and mentor junior staff.
• Adhere to compliance, regulatory and company policies and procedures.

Role Requirements

• Minimum 7 years of direct credit rating experience in structured finance at an advisory firm, an arranger, an investor, an asset lender or a credit rating agency.
• Experience in ABS transactions and understanding of European consumer finance in automobile, consumer loan or credit card lending.
• Understanding of ABS legal documentation.
• Understand Morningstar DBRS's credit rating methodologies and analytical tools.
• Excellent written and oral English. Proficiency in other European languages (French, Spanish or Italian) is an advantage.
• Proven analytical abilities with a high attention to detail. Quantitative skills and experience in cash flow modelling and the ability to manage large data sets are preferred.
• Bachelor (or equivalent) degree in finance, financial engineering or other quantitative discipline.
• Proficiency in Microsoft Excel and Microsoft Office applications. Knowledge of programming languages (VBA, Python, etc.) is a plus.
• Permission to work in the UK.
• Occasional travel within Europe is required.
• Ability to manage multiple projects and work in a team and independently in a dynamic environment under tight deadlines.
• Ability to solve problems proactively and creatively.

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 diversity of opinion in the credit rating industry. Our approach and size allow us to respond to customers’ needs in their local markets while maintaining the necessary expertise and resources. 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 confidentially 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, you will be required to liquidate those holdings immediately. Depending on department and location, certain employee accounts must be held with an approved broker; if this applies and your accounts are not with an approved broker, you will be required to move holdings to an approved broker.

Morningstar's hybrid work environment offers the option to work remotely with in-person collaboration each week. While some positions are available as fully remote, we find regular in-person collaboration—typically three days per week—beneficial. A range of other benefits are available to enhance flexibility as needs change. No matter where you are, you’ll have tools and resources to engage meaningfully with global colleagues.

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