Assistant Vice President / Vice President, Structured Finance Cash Flow Analytics & Development
Morningstar
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Job summary
Morningstar DBRS is seeking an experienced structured finance professional to join its Global Structured Finance Cash Flow Analytics team at the AVP/VP level. You will model complex transactions using Intex Dealmaker, Python, and other tools, and contribute to a Python-based cash flow engine.
This hands-on role balances transaction execution with technology development, automating workflows and expanding analytics capabilities across asset classes.
Qualifications
- Strong knowledge of structured finance concepts, securitization structures and cash flow waterfall mechanics.
- Hands-on experience building and analyzing cash flow models for structured finance transactions.
- Ability to independently work through complex transactions and translate provisions into cash flow logic.
- Experience across ABS, CMBS, RMBS, structured credit or other securitized products.
- Experience within a credit rating agency, trustee, financial institution, or advisory firm is preferred.
Responsibilities
- Develop, maintain and run cash flow models for structured finance transactions using Intex Dealmaker, Python and other proprietary platforms.
- Independently interpret transaction documents and translate waterfall mechanics into cash flow logic.
- Model complex transactions including non-standard structures.
- Perform cash flow tie-outs and reconcile outputs to Morningstar DBRS methodologies.
- Collaborate with Ratings Analysts to analyze results and communicate findings.
- Contribute to development of a Python-based cash flow engine and automation of workflows.
- Support automation of Intex-supported workflows and broader analytics tooling.
- Improve testing, documentation and version control of analytical tools.
- Integrate data sources and streamline workflows with Python.
Skills
Education
Tools
Job description
Morningstar DBRS is a leading global credit rating agency dedicated to providing value beyond the rating through independent and objective credit analysis. We are seeking an experienced structured finance professional to join our Global Structured Finance Cash Flow Analytics team at the Assistant Vice President or Vice President level. The Cash Flow Analytics team supports Structured Finance ratings globally, providing transaction-level cash flow modeling and analytical support across a range of asset classes. This role is designed for an experienced structured finance professional who can independently model complex transactions and also contribute to the development and advancement of the technology used to support that work. We are considering candidates at both the Assistant Vice President and Vice President levels. Final level will be determined based on the successful candidate’s depth and breadth of structured finance experience, demonstrated ability to independently manage complex transactions, technical capabilities, leadership and overall experience relative to the scope of the role.
This is a hands-on structured finance role with an additional focus on technology and development. You will carry a transaction workload, serving as a key cash flow modeling resource on new-issue, amendment and surveillance transactions using Intex Dealmaker, Python and other proprietary tools.
You will also contribute to strategic development initiatives designed to modernize and scale the team's cash flow analytics capabilities. These include the continued development of a Python-based cash flow engine, automation of Intex-supported workflows, and broader efforts to improve the efficiency, consistency and scalability of transaction analysis.
Transaction execution remains the primary responsibility of the role. Depending on deal flow and business needs, the balance between transaction work and development projects will vary over time.
- Develop, maintain and run cash flow models for structured finance transactions using Intex Dealmaker, Python and other proprietary platforms.
- Independently interpret transaction documents and translate complex waterfall mechanics, triggers, shortfalls, loss allocations and structural features into accurate cash flow models.
- Model bespoke and complex new-issue, amendment and surveillance transactions, including structures or asset classes where standardized approaches may not apply.
- Perform cash flow tie-outs and reconcile issuer-provided assumptions and model outputs to Morningstar DBRS methodologies and analytical expectations.
- Work closely with Ratings Analysts and senior team members to analyze transaction results, identify key structural considerations and communicate findings clearly.
- Contribute to the continued development, testing and enhancement of the team's Python-based cash flow platform, helping create scalable and reusable solutions for structured finance analysis.
- Support the development and industrialization of tools that automate Intex-supported cash flow workflows, including surveillance processes and multi-transaction analysis.
- Help improve the quality, reliability and scalability of analytical tooling through testing, documentation, version control and collaborative development practices.
- Use Python and other technologies to improve existing workflows, integrate data sources and streamline repetitive or manual analytical processes.
- Participate in the team's broader AI and automation initiatives, identifying opportunities to responsibly incorporate AI-assisted development and workflow improvements.
- Partner with colleagues across the global Cash Flow Analytics and Structured Finance teams to support evolving business needs and expansion into new asset classes.
- Provide review, guidance and informal training to junior team members and contribute to consistent analytical and technical practices across the team.
- Strong knowledge of structured finance concepts, securitization structures and cash flow waterfall mechanics.
- Demonstrated hands-on experience building and analyzing cash flow models for structured finance transactions.
- Ability to independently work through complex or unfamiliar transactions, interpret legal documentation and translate structural provisions into cash flow logic.
- Experience across one or more structured finance asset classes, such as ABS, CMBS, RMBS, structured credit or other securitized products.
- Experience within a credit rating agency, trustee, financial institution, accounting/advisory firm or other structured finance environment is preferred.
- Strong Python skills, with experience using Python for financial modeling, analytical tooling, workflow automation or software development.
- Experience with Intex products, particularly Dealmaker and/or other Intex cash flow tools, is strongly preferred.
- Experience developing applications or wrappers around Intex or other analytical platforms is a plus but is not required.
- Familiarity with GitHub or other version-control and collaborative development environments.
- Understanding of testing, documentation and software-development practices used to create reliable analytical tools.
- Experience working with databases and integrating data through Python is preferred.
- Familiarity with APIs, AWS/S3, front-end development, NumPy, parallel processing or other performance-focused development techniques is a plus.
- Experience using GitHub Copilot or comparable AI-assisted development tools is a plus, along with an interest in applying AI to analytical and development workflows.
- Knowledge of Excel, VBA, Confluence and Jira is helpful.
- Strong quantitative and analytical abilities with exceptional attention to detail.
- Ability to manage complex deliverables and transaction deadlines while maintaining analytical accuracy.
- Strong written and verbal communication skills and the ability to explain complex analytical or technical issues to both technical and non-technical stakeholders.
- Ability to work independently while contributing effectively within a global, collaborative team.
- Demonstrated ability to mentor, review or guide less-experienced colleagues.
- For consideration at the Vice President level, candidates should demonstrate greater depth of experience and a proven ability to independently lead highly complex transactions, provide technical or team leadership, and/or develop and implement scalable analytical solutions.
Bachelor’s degree in Finance, Engineering, Mathematics, Computer Science or another quantitative or technical discipline required. A Master’s degree or other advanced qualification is preferred.
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.
At Morningstar we believe people are at their best when they are at their healthiest. That’s why we champion your wellness through a wide range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:
- Financial Health
- 100% 401k match up to 6% of salary
- Stock Ownership Potential
- Company provided life insurance - 1x salary + commission
- Physical Health
- Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages
- Additional medical Wellness Incentives - up to $300-$600 annual
- Company-provided long-and short-term disability insurance
- Emotional Health
- Trust-Base Time Off
- 6-week Paid Sabbatical Program
- 6-Week Paid Family Caregiving Leave
- Competitive 8-24 Week Paid Parental Leave
- Adoption Assistance
- Leadership Coaching & Formal Mentorship Opportunities
- Annual Flex Stipend - $1000 annually to cover personal education & well-being expenses
- Tuition Reimbursement
- Social Health
- Charitable Matching Gifts program
- Dollars for Doers volunteer program
- Paid volunteering days
- 15+ Employee Resource & Affinity Groups
$133,900.00-209,433.33
Inclusive of annual base salary and target incentive
R06_DBRSInc DBRS, Inc. - US Legal Entity
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