Analyst, Credit Ratings, North America CMBS

Dbrs - Chicago, IL

Full-time - Entry Level

Remote - Chicago, IL

Securities, Commodity Contracts, and Other Financial Investments and Related Activities

About the position

The Analyst position in the commercial mortgage-backed securities (CMBS) group at Morningstar DBRS in Chicago involves conducting detailed analysis of bonds secured by commercial real estate loans. The role focuses on both annual and event-driven reviews of various transaction types, including Multi-Borrower Conduit, Single-Asset/Single-Borrower, and CRE CLO transactions. The individual will serve as a lead analyst, preparing rating committee packages, presenting to committee voters, and drafting press releases for ratings actions.

Responsibilities

• Obtain a solid understanding of DBRS Morningstar's methodologies, models, criteria, and analytical tools to assess credit worthiness of various transaction types.
• Run point on completing surveillance reviews of DBRS Morningstar-rated CMBS transactions as a lead analyst.
• Analyze property-level documents such as operating statements, rent rolls, and property inspections for underlying collateral.
• Communicate with third parties, including servicers and 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 to effectively communicate DBRS Morningstar's credit view and ratings rationale.
• Work with senior reviewers to finalize drafts and release documents in a timely manner.
• Assist in composing surveillance reports and market commentaries for investors and conference audiences.
• Perform analysis for newly-contributed loans for DBRS Morningstar's CRE CLO rated book as needed.
• Assist with analysis for newly-issued DBRS Morningstar-rated CMBS transactions in Canada.

Requirements

• 1-2 years of commercial real estate experience.
• Degree in finance, real estate, or a related area.
• Ability to work in a multi-faceted capacity with strong analytical skills and attention to detail.
• Excellent interpersonal and presentation skills.
• High proficiency in Excel and ability to perform complex analyses.
• Well-developed writing skills.

Benefits

• Hybrid work environment allowing remote work and in-person collaboration.
• Tools and resources to engage with global colleagues.