North American CMBS Credit Ratings, Senior Analyst – Chicago

About the role

Morningstar DBRS is seeking a highly motivated individual, with an interest in real estate finance and credit analysis, to join its Commercial Mortgage-Backed Securities (CMBS) team as a Senior Analyst in Chicago. The successful candidate will mainly serve as a support analyst for lead analysts and team leads for Morningstar DBRS rated transactions or entities, including CMBS, real estate investment trusts, and real estate operating entities. The role involves gradually developing a solid understanding of the US and Canadian real estate sectors and acquiring a broad understanding of the appropriate Morningstar DBRS rating methodologies and criteria.

Responsibilities

• Support the lead analysts in evaluating credit risk, while adhering to the relevant rating methodology.
• Determine Morningstar DBRS stabilized cash flows of all major property types (office, retail, multifamily, MHC, hotel, self-storage) and a variety of loan sizes ($1 million to > $100 million).
• Prepare/update spreadsheets on rated entities including historical information and financial projections.
• Search and aggregate market data to be used in the credit analysis.
• Track key economic and industry indicators and various asset class metrics.
• Review third-party reports including appraisals, property condition reports, environmental reports, and other industry-specific reports.
• Contribute text and analysis for rating reports, press releases, commentaries, presentations, and industry reports under the supervision of lead analysts.
• Assist with the preparation of rating committee materials and participate in Rating Committee meetings with guidance from the lead analysts.
• Assist with the publishing workflow, including regulatory disclosures.
• Develop a solid understanding of real estate asset classes covered.
• Develop client-communication skills through interacting with issuers, investors, and intermediaries.
• Adhere to compliance, regulatory, and company policies and procedures.

Requirements

• Minimum of two years of experience in a commercial real estate-related field.
• Undergraduate degree in accounting, business, finance, or other relevant discipline is preferred.
• Strong analytical abilities and knowledge of financial statements.
• Solid research and analytical skills, with acute attention to detail.
• Strong communication skills, both oral and written.
• Self-starter and strong team player, with the ability to meet deadlines while producing high-quality work.
• Genuine interest in commercial real estate and structured finance.
• Ability to travel 10-20% domestically/North America.
• Possess and maintain a valid driver’s license and passport.

Qualifications

• Progress towards a CFA designation is a plus.
• Advanced knowledge of Microsoft Excel is a plus.
• Bloomberg and SNL skills would be a plus.

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 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.

Benefits

• 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 annually.
  • 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.

Pay

Total Cash Compensation Range: $92,000.00 - $115,816.66 (inclusive of annual base salary and target incentive).

Schedule

Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week. In most locations, the 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.