Senior Analyst - European ABS

About the role
DBRS Morningstar European Structured Finance team is looking for a securitisation analyst at Senior Analyst (SA) level to be based in the European Union (i.e. Frankfurt, Germany or Madrid, Spain). The successful candidate will act as rating analyst in assigning ratings for European ABS ratings. 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 and counterparties.
The role offers a unique opportunity to develop European Structured Finance experience in a dynamic stimulating stimulating client facing environment.
Job responsibilities:
The analyst will join the European ABS team with a primary focus on consumer lending credit cards, and will be responsible for the following:

• Act as lead and/or backup analysts in the assignment of Morningstar DBRS ratings to European ABS transactions and, occasionally, transactions in other European structured finance asset classes, such as Structured Credit (including CDOs, CLOs and fund ratings), RMBS and Covered Bonds;
• Act as lead and/or backup analysts in the surveillance and monitoring of Morningstar DBRS ratings in Europe;
• Conduct credit analysis utilising Morningstar DBRS rating methodologies and/or analytical tools;
• Conduct and/or support the conduction of period review of rating methodologies and/or lead the improvement of Morningstar DBRS rating methodologies and processes;
• Support other analysts and team leaders in administrative work, filing and record retention requirements;
• Study recent performance trends for transactions include, among others: credit enhancement, delinquencies, cumulative defaults, recoveries, prepayments, seasoning, excess spread and changes in collateral characteristics;
• Draft analytical documents, such as rating reports, press releases and research;
• Collaboration with other Morningstar DBRS teams/analysts (including the European Surveillance Team), supporting analysts in the maintenance of existing ratings;
• Assess transaction amendments/restructurings;
• Draft new rating committee memos summarising the analysis and recommending a rating action;
• Summarise and present in an effective and comprehensive way rating and/or quantitative analysis, research and/or any other rating related analysis or research;
• Understand and comply with all applicable policies and procedures.

Qualifications:

• Completed a bachelor (or equivalent) degree in a subject such as finance, mathematics, physics, financial engineering, economics or similar quantitative discipline; A Masters, CFA or other designation (enrollment or completion) and experience in credit or securitisation are preferable;
• relevant quantitative background and/or interest to develop quantitative skills including cash flow analysis;
• 1-3 years' experience working on credit risk or any structured finance asset class within a rating agency, bank, research, buy side or sell side.
• Proficiency in Microsoft Excel. Advanced knowledge and practical skills in using Word, PowerPoint and Outlook;
• 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;
• Curiosity to develop new applications and to perform complex analyses, and ability to learn new analytical approaches proactively;
• Ability and willingness to learn new analytical approaches proactively, to think creatively, and to work well within a team;
• This position may require occasional European travel.

Nice to have:

• Knowledge of analytical programming languages (VBA, Python, etc.) is a plus;
• Knowledge of another European language/s such as Italian or French is 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.
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 work remotely and collaborate in-person each week. While some positions are available as fully remote, we've found that we're at our best when we're purposely together on a regular basis, typically three days 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.
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