About the Role
The candidate will be joining New York-based US ABS team, which is a part of Global Structured Finance organization within Credit Ratings. The hire will be reporting directly to the Senior Vice President, US ABS, and ultimately, to the Head of US ABS. The role envisions the hire contributing in analytical capacity to transaction rating and review process.
- Conducting the preliminary analysis of historical performance, collateral mix and other relevant analytical inputs for the collateral pools ranging from esoteric (e.g., whole business, cell tower, PACE) to more traditional (e.g., auto loans, equipment finance) asset-backed securities (ABS);
- Presenting the findings to the lead analyst, pointing out performance trends, data inconsistencies and notable findings and suggesting possible impact on the results of the quantitative analysis;
- Reviewing deal documentation and term sheets and assessing the potential impact on the results of the quantitative analysis, as well as considering qualitative effects of the transaction’s structural features on potential rating for a transaction;
- Guiding junior analyst working on a transaction and ensuring high quality and consistency of their work product;
- Facilitating communication with the cash flow analytical teams within DBRS Morningstar in order to ensure the consistency and accuracy of application of the cash flow engines, tools and predictive models (as applicable), as well as the correct reflection of analytical considerations and transaction terms in the cash flow scenarios run for a transaction;
- Presenting analytical observations and conclusions at the rating committees, analytical discussions and other similar events;
- Contributing to the review of existing and the development of new rating methodologies and periodic ABS sector reviews;
- Ensuring seamless communication between DBRS Morningstar and the client as well as other third parties involved in a transaction, in accordance with DBRS Morningstar’s Business Code of Conduct and applicable policies and procedures;
- Facilitating internal communications with other relevant groups within DBRS Morningstar (e.g., Operational Risk, Financial Institutions) to ensure the timely progress of analytical process;
- Coordinating and facilitating transaction set-up in internal systems, performance of Conflict of Interest checks, as necessary, and transaction record retention to ensure compliance with internal guidelines;
- Providing guidance and training to junior members of analytical team with regard to DBRS Morningstar’s policies and procedures, analytical approaches, transaction management and inter- and intra- company communications; and
- Taking responsibility in authoring rating reports, internal memos, ABS sector reviews and other research papers;
- Bachelor’s degree and MBA (preferred) in finance or accounting
- High proficiency in Word, Excel and PowerPoint
- At least three to five years of experience structuring ABS transactions at an investment bank, analyzing ABS transactions at a buy-side investment fund and/or rating ABS transactions at a rating agency
- Proven track record of executing transactions by interacting with transaction parties including: issuers, bankers, investors, lawyers and accountants
- Strong organizational and deal management skills
- Strong writing skills
- Strong presentation skills
DBRS Morningstar is a global credit ratings business, currently with 700 employees in eight offices globally. Formed through the July 2019 acquisition of DBRS by Morningstar, Inc., the ratings business is the fourth-largest provider of credit ratings in the world.
DBRS Morningstar is committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry. DBRS Morningstar is a market leader in Canada, the U.S. and Europe in multiple asset classes.
DBRS Morningstar rates more than 2,600 issuers and 54,000 securities worldwide and is driven to bringing more clarity, diversity of opinion, and responsiveness to the ratings process. DBRS Morningstar’s approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources.