North American CMBS Credit Ratings, Analyst – Chicago
Morningstar DBRS CMBS New Issue Credit Ratings group is seeking a highly motivated individual to join the team as an Analyst in Chicago. The individual will support the analytical team in the credit risk assessment of commercial real estate loans and securitized products. In this position, the successful applicant will assist with various aspects of the ratings process, including reviewing third party data, conducting property and loan analysis, writing Asset Summary Reports, and supporting research and database projects.
Job Responsibilities:
- Serve as backup analyst for CMBS transactions, while adhering to the relevant rating methodology.
- Prepare underwriting templates for credit analysis of commercial real estate assets.
- Determine Morningstar DBRS stabilized cash flows of all major property types (office, retail, multifamily, MHC, hotel, self-storage) and a variety of loan sizes ($1 million to > $100 million).
- Review third-party reports including appraisals, property condition reports, environmental reports, seismic surveys, and other industry specialized reports.
- Search and aggregate market data to be used in the credit analysis.
- Contribute text and analysis for rating reports, press release, commentaries, presentations and industry reports under supervision of lead analysts.
- Assist with the preparation of rating committee materials and participate in Rating Committee meetings with guidance from the lead analysts.
- Assist with the publishing workflow, including regulatory disclosures.
- Develop a solid understanding of real estate asset classes covered.
- Develop client-communication skills through interacting with issuers and intermediaries.
- Adhere to compliance, regulatory and company policies and procedures.
- Provide support for mid- and senior-level analysts.
- Maintain various transaction and loan tracking systems.
- Perform property site visits in support of loan analysis.
Qualifications:
- A bachelor’s degree is required, a major in finance or related field is preferred.
- Advanced proficiency in Microsoft Excel.
- Ability to travel 10-20%.
- Excellent communication, writing, and presentation skills.
- Detail-oriented self-starter with strong organization and time management skills.
- Genuine interest in commercial real estate and structured finance.
- Eagerness to learn and take on increasing responsibilities.
- Possess and maintain a valid driver’s license.
Compensation and Benefits
At Morningstar we believe people are at their best when they are at their healthiest. That’s why we champion your wellness through a wide range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:
Financial Health
Physical Health
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
Emotional Health
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
Social Health
Charitable Matching Gifts program
Dollars for Doers volunteer program
Paid volunteering days
15+ Employee Resource & Affinity Groups
Total Cash Compensation Range
$73,650.00-90,466.66
Inclusive of annual base salary and target incentive
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. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.
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