Project Finance & Infrastructure Credit Ratings - Assistant Vice President/ Vice President

Morningstar•New York, NY

3d•$97,000 - $195,000•Hybrid

About The Position

Morningstar DBRS is seeking an experienced credit professional for its Project Finance & Infrastructure team in New York, at the Assistant Vice President or Vice President level. The role analyzes and monitors a diversified portfolio of North American project finance and infrastructure ratings, including conventional power and renewable energy, digital infrastructure, transportation, public-private partnerships (PPPs), and other infrastructure sectors. The successful candidate will evaluate transaction structures, financial performance, contractual arrangements, and credit risks and develop well-supported recommendations for rating committees. The role works closely with colleagues across North America and globally and offers exposure to issuers, sponsors, investors, advisors, and other stakeholders. The final level will depend on experience, credit expertise, and the ability to independently lead rating assignments and manage complex transactions. The position reports to the Managing Director, Energy & Natural Resources and US - Asset Finance. Morningstar DBRS’s Project Finance & Infrastructure team provides independent credit ratings and research across North American infrastructure assets. Through fundamental credit analysis, financial modeling, transaction structuring expertise, and ongoing surveillance, the team evaluates project creditworthiness and provides independent credit opinions to support market participants’ decisions.

Requirements

Bachelor's degree in finance, business, economics, engineering, or a related discipline.
At least five years of relevant financial or credit analysis experience, including a minimum of two years in project finance, infrastructure finance, or corporate credit analysis.
Strong understanding of credit risk assessment, financial markets, and project finance or corporate financing structures.
Relevant credit experience gained at a credit rating agency, bank, infrastructure advisory or consulting firm, or investment management firm.
Strong financial modeling and financial statement analysis skills, including the ability to evaluate cash flow projections, debt structures, and sensitivity scenarios.
Experience reviewing financing agreements, legal contracts, and other transaction documentation from a credit perspective.
Strong research, analytical, and problem-solving capabilities and exceptional attention to detail.
Excellent written and verbal communication skills, including the ability to present complex credit analysis and recommendations to senior stakeholders.
Strong analytical judgment and ability to develop, articulate, and defend well-supported credit recommendations.
Ability to work independently and collaboratively in a fast-paced, team-oriented environment.
Willingness to travel as required.

Nice To Haves

Prior rating agency experience.
Experience in one or more infrastructure sectors, including conventional power and renewable energy, digital infrastructure, transportation, or PPPs.
Familiarity with North American infrastructure financing markets.
Completion of, or progress toward, the CFA designation or an MBA.
For consideration at the Vice President level: 7 or more years of relevant project finance and infrastructure finance credit analysis experience, the ability to independently lead complex credit assessments and manage rating assignments, and experience presenting recommendations to rating committees.
Experience providing analytical guidance to junior team members.

Responsibilities

Analyze and monitor a diversified portfolio of project finance and infrastructure ratings, including new transactions and ongoing surveillance.
Serve as a lead or supporting rating analyst across conventional power and renewable energy, digital infrastructure, transportation, PPPs, and other infrastructure sectors.
Review and interpret transaction documentation, including power purchase agreements, concession agreements, financing agreements, legal opinions, and other contractual arrangements, to assess credit implications.
Perform financial statement analysis and evaluate project finance models, including cash flow forecasts, sensitivity analyses, and downside scenarios.
Prepare credit rating reports, press releases, research notes, and analytical commentary that communicate key credit drivers and risks.
Develop rating committee materials, formulate credit recommendations, and present analytical findings and recommendations to rating committees.
Engage with issuers, sponsors, investors, and advisors about credit performance, rating rationales, and analytical methodologies.
Monitor financial performance, industry developments, and emerging credit risks through ongoing portfolio surveillance.
Contribute to the development, refinement, and application of project finance rating methodologies and sector-specific analytical approaches.
Support analytical discussions with fixed-income investors and business development initiatives.
Collaborate with colleagues across Europe and North America, including the Diversified Industries and Energy & Natural Resources groups.
Collaborate with the global Project Finance & Infrastructure team, share knowledge, and contribute to the development of junior analysts.

Benefits

100% 401(k) match up to 6% of salary.
Stock ownership potential.
Company-provided life insurance equal to 1x salary plus commission.
Comprehensive medical, dental, and vision benefits, with potential premium discounts and company-provided HSA contributions for specific plans and coverages.
Annual medical wellness incentives.
Company-provided long- and short-term disability insurance.
Trust-Based Time Off.
Six-week paid sabbatical program.
Six-week paid family caregiving leave.
Paid parental leave of 8 to 24 weeks.
Adoption assistance.
Leadership coaching and formal mentorship opportunities.
Annual $1,000 flex stipend for personal education and well-being expenses.
Tuition reimbursement.
Charitable matching gifts program.
Dollars for Doers volunteer program.
Paid volunteering days.
Employee resource and affinity groups.
Annual performance-based bonus.