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Analyst - EU RMBS and Covered Bonds
at DBRS London in London (Published at 05-03-2025)
About the role: Morningstar DBRS European Structured Finance team is looking for a securitisation analyst at Analyst level to be based in London. The successful candidate will act as rating analyst in assigning ratings for European RMBS and Covered Bond ratings. Candidates should be willing to work in an environment with strong focus on team-work, have a strong worth ethic, an analytical mind set and attention to detail. The successful candidate will possess the interpersonal and presentation skills necessary to work with all levels of professional and executive staff as well as external contacts. The role offers an opportunity to develop European Structured Finance and Covered Bond experience in a client facing environment. Job responsibilities: The analyst will join the European RMBS and Covered Bond team and will be responsible for the following:
Morningstar DBRS is a leading provider of independent rating services and opinions for corporate and sovereign entities, financial institutions, and project and structured finance instruments globally. Rating more than 4,000 issuers and 60,000 securities, it is one of the top four credit rating agencies in the world.
Morningstar DBRS empowers investor success by bringing more transparency and a much-needed diversity of opinion in the credit rating industry. Our approach and size allow us to be nimble enough to respond to customers' needs in their local markets, but large enough to provide the necessary expertise and resources they require. Market innovators choose to work with us because of our agility, tech-forward approach, and exceptional customer service.
Morningstar DBRS is the next generation of credit ratings. 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 work remotely and collaborate in-person each week. While some positions are available as fully remote, we’ve found that we’re at our best when we’re purposely together on a regular basis, typically three days 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. R07_DBRSRtgsLtdUK DBRS Ratings Limited - UK Legal Entity
- Act as lead and backup analysts in the assignment of DBRS ratings to European RMBS and Covered Bond transactions and, occasionally, transactions in other European structured finance asset classes;
- Conduct credit analysis utilising DBRS rating methodologies and analytical tools;
- Conduct period review of rating methodologies and lead improvement to rating methodologies and processes;
- Support senior analysts and team lead in administrative work, filing and record retention requirements;
- Study recent performance trends for transactions. The metrics to be evaluated include, among others: credit enhancement, delinquencies, cumulative defaults, recoveries, prepayments, seasoning, excess spread and changes in collateral characteristics;
- Draft analytical documents, such as rating reports, press releases and research;
- Collaboration with the DBRS European Structured Finance Surveillance Team and other teams/analysts, supporting analysts in maintenance of existing ratings;
- Assess transaction amendments/restructurings;
- Draft new rating committee memos summarising the analysis and recommending a rating action;
- Comply with all applicable policies and procedures.
- Completed a bachelor (or equivalent) degree in a subject such as finance, mathematics, financial engineering, economics, accounting or similar quantitative discipline; A Masters, CFA or accounting designation (enrollment or completion) and experience in credit or securitisation are preferable;
- Quantitative background and interest to develop quantitative skills including cash flow analysis;
- 1-3 years’ experience working on credit risk or any structured finance asset class within a rating agency, bank, research, buy side or sell side;
- Proficiency in Microsoft Excel. Advanced knowledge and practical skills in using Word, PowerPoint and Outlook;
- Excellent written and oral English language skills;
- Demonstrated analytical abilities, with a high attention to detail and producing high quality work;
- Willingness and ability to learn new analytical approaches proactively, to think creatively, and to work well within a team;
- Curiosity to develop new applications and to perform complex analyses, and ability to learn new analytical approaches proactively;
- Ability and willingness to learn new analytical approaches proactively, to think creatively, and to work well within a team;
- This position may require occasional European travel.
- Knowledge of analytical programming languages (VBA, Python, etc.) is a plus;
- Knowledge of another European language/s is a plus.
Morningstar DBRS is a leading provider of independent rating services and opinions for corporate and sovereign entities, financial institutions, and project and structured finance instruments globally. Rating more than 4,000 issuers and 60,000 securities, it is one of the top four credit rating agencies in the world.
Morningstar DBRS empowers investor success by bringing more transparency and a much-needed diversity of opinion in the credit rating industry. Our approach and size allow us to be nimble enough to respond to customers' needs in their local markets, but large enough to provide the necessary expertise and resources they require. Market innovators choose to work with us because of our agility, tech-forward approach, and exceptional customer service.
Morningstar DBRS is the next generation of credit ratings. 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 work remotely and collaborate in-person each week. While some positions are available as fully remote, we’ve found that we’re at our best when we’re purposely together on a regular basis, typically three days 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. R07_DBRSRtgsLtdUK DBRS Ratings Limited - UK Legal Entity
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