North American CMBS Credit Ratings, Senior Analyst – Chicago
Morningstar DBRS is seeking a highly motivated individual, with an interest in real estate finance and credit analysis, to join its Commercial Mortgage-Backed Securities (CMBS) as a Senior Analyst in Chicago. The successful candidate will mainly serve as a support analyst for lead analysts and team leads for Morningstar DBRS rated transactions or entities, including CMBS), real estate investment trust and real estate operating entities. The successful candidate will be expected to gradually develop a solid understanding of the US and Canadian real estate sectors and to acquire a broad understanding of the appropriate Morningstar DBRS rating methodologies and criteria.
Job Responsibilities:
- Serve as lead or backup analyst for CMBS transactions, while adhering to the relevant rating methodology.
- 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)
- Search and aggregate market data to be used in the credit analysis.
- Track key economic and industry indicators and various asset class metrics.
- Review third-party reports including appraisals, property condition reports, environmental reports, and other industry specific reports.
- Contribute text and analysis for rating reports, press release, commentaries, presentations and industry reports under supervision of lead analysts.
- Review and create rating committee materials and participate in Rating Committee meetings with guidance from the lead analysts
- Assist with the publishing workflow, including regulatory disclosures.
- Assist with the preparation of rating committee materials and participate in Rating Committee meetings with guidance from the lead analysts.
- Develop a solid understanding of real estate asset classes covered.
- Develop client-communication skills through interacting with issuers, investors, and intermediaries.
- Adhere to compliance, regulatory and company policies and procedures.
Qualifications:
- Minimum of two years of experience in a commercial real estate related field.
- Undergraduate degree in accounting, business, finance or other relevant discipline is preferred.
- Strong analytical abilities and knowledge of financial statements.
- Solid research and analytical skills, with acute attention to detail.
- Strong communication skills, both oral and written.
- Self-starter and strong team player, with the ability to meet deadlines while producing high quality work.
- Genuine interest in commercial real estate and structured finance.
- Ability to travel 10-20% domestically/ North America.
- Possess and maintain a valid driver’s license and passport.
- Advanced knowledge of Microsoft Excel would be a plus.
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
$92,000.00-115,816.66
Inclusive of annual base salary and target incentive
If you receive and accept an offer from us, we require that personal and any related investments be disclosed confidentiality to our Compliance team (days vary by region). These investments will be reviewed to ensure they meet Code of Ethics requirements. If any conflicts of interest are identified, then you will be required to liquidate those holdings immediately. In addition, dependent on your department and location of work certain employee accounts must be held with an approved broker (for example all, U.S. employee accounts). If this applies and your account(s) are not with an approved broker, you will be required to move your holdings to an approved broker.
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.
