Assistant Vice President / Vice President, Structured Finance Cash Flow Analytics & Development

Morningstar; New York (NY); Hybrid; USD 113,000 - 179,000; Full time

Benefits offered by this job

401k match up to 6%

Stock ownership potential

Wellness benefits

Sabbatical program

Tuition reimbursement

Job summary

Morningstar DBRS seeks an experienced structured finance professional to join the Global Structured Finance Cash Flow Analytics team at AVP or VP level. You will own modeling workloads using Intex Dealmaker and Python, while contributing to strategic development to modernize analytics.

You will translate complex waterfall provisions into robust cash flow models, support transactions from new issues to surveillance, and help automate workflows across the team.

Qualifications

• Strong knowledge of structured finance concepts and cash flow waterfall mechanics.
• Hands-on experience building and analyzing cash flow models for structured finance transactions.
• Ability to translate complex transaction structures into cash flow logic.
• Experience across ABS, CMBS, RMBS or similar securitized products.
• Experience in a credit rating agency, trustee, financial institution, or advisory firm preferred.

Responsibilities

• Develop, maintain and run cash flow models for structured finance transactions using Intex Dealmaker, Python and other proprietary platforms.
• Interpret transaction documents and translate waterfall mechanics into cash flow models.
• Model new-issue, amendment and surveillance transactions, including complex structures.
• Perform cash flow tie-outs and reconcile assumptions to methodologies.
• Collaborate with Ratings Analysts and senior team members to discuss results and findings.
• Contribute to development of Python-based cash flow platform and automation of workflows.
• Support development and industrialization of tools that automate cash flow workflows.

Skills

Python

Quantitative

Analytical thinking

Mentoring

Communication

Education

Bachelor's degree in Finance/Engineering/Math/CS

Master’s degree preferred

Tools

Intex Dealmaker

Python

GitHub Copilot

AWS/S3

NumPy

Jira

Confluence

Excel

VBA

Job description

About Us

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 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.

Job 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 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.

Qualifications

Structured Finance Experience

• 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.

Technical Skills

• 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.

Professional Skills

• 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.

Education

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.

Base Salary Compensation Range

$113,308.00-178,794.66

Incentive Target Percentage

30% 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.

Compensation And Benefits

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-Based 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

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.