Lead analyst for structured finance transactions, conducting cash flow tests, scenario analysis, and transaction assessments, while collaborating with technology teams and presenting findings to committees.
Job Title: Senior Credit Analyst, RMBS
Location: New York, NY
Job Duties:
Act as a lead analyst on structured finance transactions with minimal supervision, and present analysis to rating committee. Coverage includes fix-and-flip loans, non-QM, prime jumbo QM, GSE-CRT, MILN, HELOC and other residential mortgage loans (30%). Test cash flows to confirm accuracy and robustness of cash flow models. Conduct scenario/sensitivity analysis and communicate analysis to senior staff and colleagues (15%). Perform transaction analysis including analysis of collateral, deal structures and legal issues (12%). Focus on key credit issues during the new issue rating process including industry regulations, disclosure practices and compliance requirements in the RMBS sector (7%). Coordinate with technology team to build and improve processes (7%). Participate in criteria development and enhancement of structured finance models (5%). Produce and publish industry commentaries and newsletters (5%). Participate in external meetings with bankers, investors, and originators (5%). Analysis of representation and warranties provided on the loans in the transaction, underwriting guidelines of originators to analyze the implications to the credit quality of the transaction collateral (5%). Build and maintain relationships with bankers, investors and originators (5%). Represent organization in industry conferences and panel discussions (4%). ***Remote work requests will be considered consistent with company's remote work policy. ***Domestic travel within USA required, not more than 10 days throughout the year.
Job Requirements:
This position requires 3- or 4-year bachelor's degree in Finance, Accounting, Commerce, Math, Economics, Computer Science, Engineering, or any other related field and 5 years of experience in structured finance in the Credit Analyst or relevant role.
This position also requires experience with assigning ratings to RMBS transactions backed by fix-and-flip loans, non-QM, prime jumbo QM, GSE-CRT, MILN, HELOC and other residential mortgage loans. Experience with structured products market and technical expertise in using fixed income analytical systems such as Intex (Dealmaker, Calc) and Bloomberg. Experience with credit and legal aspects of structured finance transactions in the residential mortgage product area. Experience performing transaction analysis including analysis of collateral, deal structure, and legal issues. Experience in Microsoft Excel and Microsoft Office programs. Experience with quantitative and analytical skills. Experience with VBA, Python, or other basic programming language. Experience producing and publishing industry commentaries and newsletters. **Will accept any suitable combination of education, training, and experience.
Must possess unrestricted right to work in the U.S. in this position
Base Salary Compensation Range: $162,000 - $180,107
Morningstar DBRS is an equal opportunity employer.
"#LI-DNI"
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.
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:
If you receive 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.
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.
R06_DBRSInc DBRS, Inc. - US Legal Entity
Location: New York, NY
Job Duties:
Act as a lead analyst on structured finance transactions with minimal supervision, and present analysis to rating committee. Coverage includes fix-and-flip loans, non-QM, prime jumbo QM, GSE-CRT, MILN, HELOC and other residential mortgage loans (30%). Test cash flows to confirm accuracy and robustness of cash flow models. Conduct scenario/sensitivity analysis and communicate analysis to senior staff and colleagues (15%). Perform transaction analysis including analysis of collateral, deal structures and legal issues (12%). Focus on key credit issues during the new issue rating process including industry regulations, disclosure practices and compliance requirements in the RMBS sector (7%). Coordinate with technology team to build and improve processes (7%). Participate in criteria development and enhancement of structured finance models (5%). Produce and publish industry commentaries and newsletters (5%). Participate in external meetings with bankers, investors, and originators (5%). Analysis of representation and warranties provided on the loans in the transaction, underwriting guidelines of originators to analyze the implications to the credit quality of the transaction collateral (5%). Build and maintain relationships with bankers, investors and originators (5%). Represent organization in industry conferences and panel discussions (4%). ***Remote work requests will be considered consistent with company's remote work policy. ***Domestic travel within USA required, not more than 10 days throughout the year.
Job Requirements:
This position requires 3- or 4-year bachelor's degree in Finance, Accounting, Commerce, Math, Economics, Computer Science, Engineering, or any other related field and 5 years of experience in structured finance in the Credit Analyst or relevant role.
This position also requires experience with assigning ratings to RMBS transactions backed by fix-and-flip loans, non-QM, prime jumbo QM, GSE-CRT, MILN, HELOC and other residential mortgage loans. Experience with structured products market and technical expertise in using fixed income analytical systems such as Intex (Dealmaker, Calc) and Bloomberg. Experience with credit and legal aspects of structured finance transactions in the residential mortgage product area. Experience performing transaction analysis including analysis of collateral, deal structure, and legal issues. Experience in Microsoft Excel and Microsoft Office programs. Experience with quantitative and analytical skills. Experience with VBA, Python, or other basic programming language. Experience producing and publishing industry commentaries and newsletters. **Will accept any suitable combination of education, training, and experience.
Must possess unrestricted right to work in the U.S. in this position
Base Salary Compensation Range: $162,000 - $180,107
Morningstar DBRS is an equal opportunity employer.
"#LI-DNI"
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.
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
If you receive 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.
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.
R06_DBRSInc DBRS, Inc. - US Legal Entity
Top Skills
Bloomberg
Intex
Excel
MS Office
Python
VBA
Morningstar New York, New York, USA Office
4 World Trade Center, New York, NY, United States, 10007
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