Senior Vice President, Credit Ratings - CMBS/Real Estate

Morningstar • Chicago, IL

2d • Hybrid

About The Position

Morningstar DBRS is seeking an accomplished senior credit professional with deep commercial real estate and structured finance expertise to join its Commercial Mortgage-Backed Securities (CMBS) team as a Senior Vice President. This role is intended for individuals with significant, hands-on credit experience gained at a rating agency, lending institution, or other credit-focused platform, who are capable of exercising independent judgment on complex transactions. The Senior Vice President will serve as a senior transaction lead and people manager, with primary responsibility for the analytical rigor, credit quality, and execution of CMBS ratings. This position plays a critical role in upholding DBRS Morningstar’s analytical standards, mentoring junior professionals, and engaging with senior market participants.

Requirements

• Minimum of 15 years of progressive commercial real estate credit experience, with substantial exposure at a rating agency, lending institution, private credit platform, or comparable credit-focused organization.
• Demonstrated depth of experience in CMBS, structured credit, or securitized real estate products.
• Strong understanding of commercial real estate valuation, cash flow analysis, and credit risk drivers across market cycles.
• Proven ability to exercise independent credit judgment and defend recommendations before senior committees.
• Established experience managing and mentoring analytical teams in a performance-driven environment.
• Exceptional written and verbal communication skills with the ability to synthesize complex analyses for senior audiences.
• Advanced proficiency in Excel and financial modeling; comfort working with large datasets.
• Bachelor’s degree in finance, real estate, accounting, or a related discipline required
• Ability to travel domestically within North America approximately 10–20%.
• Valid driver’s license and passport; ability to complete international travel as required.

Nice To Haves

• advanced degrees preferred

Responsibilities

• Provide senior leadership and oversight for the analysis and rating of CMBS transactions, including SASB, Conduit, CRE-CLO, and Agency executions.
• Serve as the primary lead analyst and senior credit decision-maker on complex and high-profile transactions, exercising independent judgment consistent with DBRS Morningstar methodologies.
• Manage, mentor, and develop a team of analysts, establishing analytical standards and ensuring consistent application of rating criteria.
• Act as the primary client-facing representative, engaging with issuers, lenders, investors, and intermediaries.
• Evaluate credit risk through detailed property-level, loan-level, and structural analysis, including cash flow modeling and downside stress testing.
• Determine stabilized and transitional net cash flows across all major commercial property types and loan sizes, from small-balance to large institutional exposures.
• Assess transitional business plans, sponsor quality, capital structures, reserve mechanisms, and execution risks.
• Prepare and present comprehensive credit recommendations to senior credit committees.
• Oversee the drafting and quality control of presale reports, final rating reports, and analytical publications.
• Ensure adherence to internal policies, regulatory requirements, and publishing standards.

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

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Number of Employees: 5,001-10,000 employees