Structured Finance Cash Flow Analytics, Assistant Vice President / Vice President – New York

Morningstar•New York, NY

4d•$97,000 - $195,000•Hybrid

About The Position

Morningstar DBRS is seeking a structured finance professional to join its Global Structured Finance Cash Flow Analytics team in New York at the Assistant Vice President or Vice President level. The team supports Structured Finance ratings globally by providing transaction-level cash flow modeling and analytical support across asset classes including ABS, RMBS, CMBS, Structured Credit and other securitized products. It works closely with Ratings Analysts to evaluate transaction structures, assess cash flow performance and support credit rating decisions. The role serves as a key cash flow modeling resource, developing, running and analyzing models for new-issue, amendment and surveillance transactions. The successful candidate will bring structured finance expertise, hands-on modeling experience and the ability to independently analyze complex securitization structures. The role works with Ratings Analysts and senior team members to interpret transaction documentation, evaluate structural features, reconcile cash flow results and communicate findings. It also provides technical support on complex transactions and contributes to the development and mentoring of junior team members. Final leveling as Assistant Vice President or Vice President will be based on experience, technical expertise and the ability to independently manage complex transactions. The position is based in New York and follows Morningstar's hybrid work model, which in most locations involves working in the office four days each week. Compensation is based on level and qualifications. The position is eligible for an annual performance-based bonus.

Requirements

Bachelor's degree in Finance, Engineering, Mathematics or a related quantitative discipline.
Approximately 4–10 years of structured finance experience, including direct, hands-on cash flow modeling experience.
Strong understanding of securitization structures, cash flow waterfalls and structured finance credit analysis.
Ability to independently interpret transaction documentation and model complex or bespoke securitization transactions.
Experience in one or more structured finance asset classes, including ABS, RMBS, CMBS or Structured Credit.
Strong quantitative and analytical capabilities, exceptional attention to detail and ability to manage multiple transaction deadlines.
Excellent written and verbal communication skills, including ability to explain complex analytical findings to senior stakeholders.
Ability to work independently and collaboratively in a fast-paced, global team environment.
For Vice President consideration: greater depth of structured finance experience, ability to independently lead highly complex transactions and a track record of providing technical guidance to other analysts.

Nice To Haves

Proficiency with Intex products, particularly Dealmaker, Calc or other cash flow modeling tools.
Experience reviewing work and providing guidance to junior analysts.
Knowledge of advanced Excel, VBA and Python.
Familiarity with AI-assisted analytical and validation tools.
A Master's degree in a related field or progress toward the CFA designation.

Responsibilities

Develop, maintain and run cash flow models using Intex Dealmaker and other analytical platforms for new-issue, amendment and surveillance transactions.
Independently model complex and bespoke securitization structures, including transactions involving new asset classes, first-time issuers and nonstandard structural features.
Review and interpret transaction legal documentation and translate waterfall mechanics, excess spread, triggers, shortfalls, loss allocations and other structural provisions into accurate cash flow models.
Perform cash flow tie-outs, reconciling issuer-provided assumptions and model outputs with Morningstar DBRS methodologies and analytical expectations.
Work with Ratings Analysts to evaluate cash flow results, identify key structural risks and assess credit implications under different scenarios.
Present cash flow analysis and findings to senior team members and rating committees, communicating assumptions, structural considerations and analytical conclusions.
Use analytical tools, including AI-assisted validation processes, to support model accuracy, consistency and efficiency.
Provide technical review, guidance and informal training to junior analysts on complex transactions.
Collaborate with colleagues across global Cash Flow Analytics and Structured Finance teams to support transaction execution and evolving business needs.

Benefits

Annual performance-based bonus.
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 of up to $500–$2,000 annually for specific plans and coverages.
Medical wellness incentives of up to $300–$600 annually.
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 8–24 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 and paid volunteering days.
15+ Employee Resource and Affinity Groups.
Hybrid work environment, generally four days in-office each week in most locations, with other benefits intended to enhance flexibility.