Assistant Vice President, Credit Ratings, US Structured Credit, Funds - Issue

Overview

About The Role Morningstar DBRS is seeking an Assistant Vice President to support the Funds new issue credit ratings team, which is part of the U.S. Structured Credit (US SC) team. US SC is a credit rating analytics team that assigns and monitors credit ratings, develops research and maintains credit rating methodologies for investment fund debt, collateralized loan obligations (CLOs), other corporate securitizations and bespoke credit rating opportunities.

• Act as the lead analyst responsible for assigning new credit ratings on various fund financing transactions, including but not limited to, feeder fund debt, main fund secured facilities and unsecured debt, subscription loan facilities, and collateralized fund obligations
• Manage the new issue ratings process, while adhering to the relevant rating methodology.
• Prepare and present detailed discussion and committee materials to credit ratings committees.
• Author pre-sale and new issue credit rating reports, among other relevant disclosures.
• Conduct analysis on the fund manager’s capabilities and track record, the fund investment portfolio, transaction capital structure, and legal documents.
• Participate in onsite manager due diligence meetings and calls with market participants and issuers.
• Actively use and help maintain predictive models, analytical tools, and spreadsheets.
• Assess legal, regulatory, counter party and other risks related to Funds and US SC credit ratings.
• Train and mentor junior analysts.
• Collaborate with other Morningstar DBRS credit teams to support credit rating surveillance, analysis, administration and research.
• Adhere to compliance, regulatory and company policies and procedures.

• Undergraduate degree in finance, accounting, business, economics or related discipline is required.
• 5-7 years’ relevant experience, which could include:
• Funds, BDC or CLO credit ratings-related work,
• Investment banking or legal counsel focusing on funds-related work,
• Credit risk management function focusing on credit funds, or
• Other relevant experience as a market participant
• Strong interest in credit funds, BDCs, CLOs, private credit and/or private equity encouraged.
• Proficiency in Microsoft Office suite, with advanced skills in Excel, such as building complex formulas or models, pivot tables and graphs.
• Solid research and analytical skills, with acute attention to detail.
• Strong verbal and written communication skills to prepare clear and concise committee materials and reports in proper and professional etiquette.
• Willingness and ability to learn new analytical approaches proactively.
• Self-starter with ability to prioritize and complete critical work quickly, independently and with a sense of urgency.
• Ability to work in a fast-paced environment, multi-tasking to meet multiple deadlines.
• Must be a team player with strong interpersonal skills with the ability to motivate team members to produce timely and accurate work product.

• Rating agency experience for a smoother transition into the nuances and rigors of the rating processes and understanding credit rating methodologies.
• Knowledge of analytical programming language (VBA, Python, etc.) is a plus.

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.

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