Assistant Vice President, RMBS and Covered Bonds (Structured Finance and Securitisation Analyst[...]

Morningstar DBRS' European Structured Finance team is looking for a securitisation analyst at Assistant Vice President (AVP) level to be based in London. The successful candidate will act as lead analyst in assigning ratings for European RMBS and Covered Bond transactions. Candidates should be willing to work in an environment with strong focus on teamwork, have a strong work ethic, an analytical mindset 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. The role offers an opportunity to further develop European Structured Finance and Covered Bond experience in a client-facing environment.

Responsibilities

• Act as lead and backup analysts in the assignment of DBRS ratings to UK & European RMBS / Covered Bond transactions and, occasionally, transactions in other European structured finance asset classes (such as ABS, CLOs, NPL or Lease Securitisations);
• Conduct credit analysis utilising DBRS rating methodologies and analytical tools;
• Conduct period review of rating methodologies and lead improvement to rating methodologies and processes;
• Support senior analysts and team lead in administrative work, filing and record retention requirements;
• Study recent performance trends for transactions. The metrics to be evaluated 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 the DBRS European Structured Finance Surveillance Team and other teams/analysts, supporting analysts in maintenance of existing ratings;
• Assess transaction amendments/restructurings;
• Draft new rating committee memos summarising the analysis and recommending a rating action;
• Comply with all applicable policies and procedures.

Qualifications

• Minimum 5 years experience on any structured finance asset class such as ABS, RMBS and SME-CLO transactions, working in rating agency, research, buy side or sell side;
• Completed a bachelor (or equivalent) degree in a subject such as finance, mathematics, financial engineering, economics, accounting or similar quantitative discipline;
• Quantitative background and interest to develop quantitative skills including cash flow analysis;
• 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;
• Permission to live and work in UK;
• 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 is a plus;
• Masters degree, CFA or accounting designation (enrollment or completion) are a plus.

Compensation and Benefits

Base Salary Compensation Range GBP 67,500.00-98,500.00; Bonus Target: 20% per annum. Annual base salary compensation range and bonus target may vary based on qualifications and experience. Morningstar's hybrid work environment and benefits are provided to enhance flexibility as needs change. The company offers a range of benefits to support employees.

Equal Opportunity

Morningstar is an equal opportunity employer. EEO is the Law. Morningstar is strongly committed to creating and preserving equal opportunity for all employees and applicants. We make all employment decisions—including recruitment, hiring, compensation, training, promotion, transfer, discipline, termination, and other personnel matters—without regard to race, color, ancestry, religion, sex, national origin, age, disability, protected veteran status, marital status, sexual orientation, genetic information, citizenship, gender identity and expression, parental status, or other legally protected characteristics or conduct.