CMBS Credit Track - Morningstar Development Program (Current Interns)

Morningstar•Chicago, IL

3d•Hybrid

About The Position

The Program: At Morningstar, we want people who are smart, creative, hard-working, curious, and passionate about their work. We hire all majors, including liberal arts, as we appreciate the different perspectives they bring to our company. We built the Morningstar Development Program to prepare recent college graduates for successful, long-term careers here at Morningstar. Throughout this two-year program, you will be placed in a cohort where you’ll receive ongoing career development, networking, mentoring, training opportunities, and practicum program opportunities to help you succeed at Morningstar. Position Description We are accepting applicants with less than 2 years of full-time work experience. While we look for individuals who have an interest in investing, we welcome all fields of study. All positions are based in our Chicago office. The Credit Analyst will join either the Private Corporate Credit, Asset-Backed Securities (ABS), Residential Mortgage-Backed Securities (RMBS), Commercial Mortgage-Backed Securities (CMBS), Structured Credit, Surveillance, Cash Flow Analytics, Global Financial Institutions or the Sovereign Ratings team.

Requirements

Between 0-2 years of professional work experience.
A bachelor’s degree completed no later than May 2026 in accounting, business, finance or other relevant discipline 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 the private credit market, commercial real estate and structured finance.
Must possess unrestricted right to work in the U.S. in this position

Responsibilities

Develop an understanding of credit aspects of transactions
Review legal documents pertaining to transactions
Conduct research on various credit-related topics and produce summaries of findings
Gather, clean and analyze data for use in ratings, methodology development and external research publication
Develop, maintain and improve cash flow engines
Act as a back-up analyst on transactions, and present to rating committee
Communicate analysis to senior staff and colleagues on related teams
Support in criteria development and enhancement of models
Assist with adherence to procedures and regulatory compliance
Prepare compliance reports and company publications
Review and apply rating methodologies to transactions
Participate in meetings with bankers, investors and originators
Follow, summarize and share research and presentations of outside market participants

Benefits

100% 401k match up to 6% of salary
Stock Ownership Potential
Company provided life insurance - 1x salary + commission
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
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
Charitable Matching Gifts program
Dollars for Doers volunteer program
Paid volunteering days
15+ Employee Resource & Affinity Groups