Morningstar

CMBS Surveillance Credit Ratings, Analyst - Toronto/Chicago

Morningstar • $70K — $95K *
Chicago, IL 60629In-Person
Finance & Insurance
Less than 5 years of experience
3 weeks ago
Job Overview by Ladders

Qualifications

  • 1-2 years of commercial real estate experience
  • Degree in finance, real estate, or related area
  • Strong analytical skills with attention to detail
  • Excellent interpersonal and presentation skills
  • High proficiency in Excel and complex analyses
  • Well-developed writing skills

Responsibilities

  • Understand methodologies and tools for assessing credit worthiness
  • Lead surveillance reviews of Morningstar DBRS-rated CMBS transactions
  • Compile documents and present analyses to rating committees
  • Draft press releases and rating letters to communicate credit views
  • Assist in writing market and industry commentaries for investors
  • Perform analysis for new loans in the CRE CLO rated book
  • Support analysis for newly-issued CMBS transactions with site inspections

Benefits

  • Exposure to diverse transaction types in the commercial mortgage market
  • Opportunity to work closely with senior reviewers and contribute to committee decisions
  • Involvement in publishing industry insights and commentaries
  • Varied responsibilities that allow for professional growth
  • Potential for travel to engage with industry stakeholders
Full Job Description
CMBS Surveillance Credit Ratings, Analyst - Toronto/Chicago

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 Morningstar DBRS 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.

Job Responsibilities:
  • Obtain a solid understanding of methodologies, models, criteria and other analytical tools to assess the credit worthiness of the various transaction types within the 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.
  • Some travel (5-10%) may be required.


Qualifications:
  • The successful candidate will have 1-2 years of commercial real estate experience and possess a degree in finance, real estate or a related area.
  • The individual must be able to work in a multi-faceted capacity, be analytical and highly attentive to detail.
  • The candidate will be highly poised and possess excellent interpersonal and presentation skills.
  • Possess a high degree of proficiency in Excel as well as the intellectual curiosity to develop new applications and to perform complex analyses.
  • Well-developed writing skills are also required.
  • All necessary documents are required for domestic and international travel.


About Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $200 billion in assets under advisement and management as of December 31, 2020. The company has operations in 29 countries.
Learn more about Morningstar
Size
10,038 employees
Market Cap
$9 billion
Industry
Finance & Insurance
Net Income
$223.6 million
Founded
1984
5 Year Trend
+16.3%
Revenue
$1.3 billion
NASDAQ
MORN
* Ladders Estimates

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