CMBS Surveillance Credit Ratings, Analyst – Toronto/Chicago

Morningstar • Toronto, ON

4d • Hybrid

About The Position

Morningstar DBRS is seeking a highly motivated individual to join its commercial mortgage backed securities (CMBS) group in Toronto or Chicago as an Analyst. The position is responsible for rating and monitoring bonds secured by commercial real estate loans. The role will focus on conducting analysis at the collateral and transaction level as part of annual and event-driven reviews for the transactions in the rated CMBS book, which includes a variety of transaction types, including Multi-Borrower Conduit, Single-Asset/Single-Borrower and CRE CLO transactions. The individual will serve as a lead analyst, preparing the rating committee package and making regular presentations to rating committee voters, and will be responsible for drafting press releases for all ratings actions.

Requirements

• 1-2 years of commercial real estate experience
• A degree in finance, real estate or a related area
• Ability to work in a multi-faceted capacity
• Analytical and highly attentive to detail
• Highly poised
• Excellent interpersonal and presentation skills
• High degree of proficiency in Excel
• Intellectual curiosity to develop new applications and to perform complex analyses
• Well-developed writing skills
• All necessary documents are required for domestic and international travel.

Responsibilities

• Obtain a solid understanding of methodologies, models, criteria and other analytical tools to assess the credit worthiness of the various transaction types within Morningstar DBRS rated CMBS book, including Multi-Borrower, Single-Borrower/Single Asset and CRE CLO transactions.
• As a lead analyst, run point on completing surveillance reviews of Morningstar DBRS-rated CMBS transactions. This work will involve analyzing property-level documents (operating statements, rent rolls and property inspections) for the underlying collateral and collateral and bond level reporting provided by the transaction parties.
• Communicate with third parties, such as servicers and other information providers, to obtain collateral updates.
• Compile rating committee documents and present analysis and recommendations to rating committee voters.
• Draft press releases and rating letters which effectively communicate the Morningstar DBRS credit view and ratings rationale.
• Work with senior reviewers within the North American CMBS Surveillance team and the publishing group to finalize drafts and release documents in a timely manner.
• Assist in the composition of surveillance reports and market and industry commentaries for investors and conference audiences.
• Perform analysis for newly-contributed loans for the Morningstar DBRS CRE CLO rated book, as needed. This work will require an understanding of Morningstar DBRS Commercial Real Estate Property Analysis Criteria and other criteria and methodologies.
• As needed, assist with the analysis for newly-issued Morningstar DBRS-rated CMBS transactions in Canada, performing site inspections and completing other levels of analysis for loans in those pools.

Benefits

• 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.
• Tools and resources to engage meaningfully with your global colleagues.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level