About the role:
Morningstar DBRS is looking for an Analyst to be part of the European Structured Finance Surveillance team, based in Frankfurt. Candidates should be willing to work in an environment with strong focus on team-work, have a strong worth ethic, an analytical mind set and attention to detail. The successful candidate will possess the interpersonal and presentation skills necessary to work with all levels of professional and executive staff as well as external contacts.
Job responsibilities:
Assist surveillance analysts on a portfolio of ratings of European structured finance transactions across different asset classes: RMBS, ABS, NPLs and/or SME-CLOs, rated by Morningstar DBRS;
- Review surveillance performance analytics reports generated by the data team in accordance with established policies and procedures;
- Conduct portfolio credit analysis utilising Morningstar DBRS rating methodologies and analytical tools;
- Analysis of asset-liability cash flow structures using Morningstar DBRS built in cash flow engines and Intex;
- Study recent performance trends for transactions. The metrics to be evaluated include, among others: credit enhancement, delinquency, cumulative defaults, recoveries, prepayments, seasoning, excess spread and changes in collateral characteristics;
- Act as Rating Committee Coordinator within the structured finance surveillance team;
- Collaboration with other European Structured Finance teams/analysts, supporting analysts in assignment of new ratings to transactions of different asset classes;
- Produce detailed committee memos including transaction analysis and rating recommendations;
- Writing & publishing press releases and market research;
- Act as a Rating Analyst on a portfolio of surveillance transactions across different asset classes;
- Develop and maintain analytical tools and reports for internal and external use.
Qualifications:
- Completed a bachelor (or equivalent) degree in a subject such as finance, mathematics, financial engineering, economics, accounting or similar quantitative discipline;
- A Masters, CFA or accounting designation (enrollment or completion) and experience in securitisation are considered definite assets;
- Basic understanding of structured finance;
- Proficiency in Microsoft Excel. Advanced knowledge and practical skills in using the rest of Microsoft Office programs;
- Excellent written and oral English language skills;
- Demonstrated analytical abilities, with a high attention to detail and producing high quality work;
- Willingness and ability to learn new analytical approaches proactively, to think creatively, and to work well within a team;
- Permission to live and work in the European Union. This position may require occasional European travel.
Nice to have:
- No previous related experience is required. However, financial industry experience would be valued;
- Knowledge of analytical programming languages (Python, R, etc.) and/or Tableau is a plus;
- Knowledge of another European language/s is a plus.
About Us
DBRS Morningstar is a global credit ratings business, currently with 700 employees in eight offices globally. Formed through the July 2019 acquisition of DBRS by Morningstar, Inc., the ratings business is the fourth-largest provider of credit ratings in the world.
DBRS Morningstar is committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry. DBRS Morningstar is a market leader in Canada, the U.S. and Europe in multiple asset classes.
DBRS Morningstar rates more than 2,600 issuers and 54,000 securities worldwide and is driven to bringing more clarity, diversity of opinion, and responsiveness to the ratings process. DBRS Morningstar’s approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources.
If you received and accept an offer from us, we require that personal and any related investments be disclosed confidentiality 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, 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.
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