Job Description
About the Role
Morningstar DBRS is seeking an Analyst to join our U.S. RMBS group within Global Structured Finance. This role offers the opportunity to work on rating new U.S. residential mortgage‑backed securities transactions and contribute to the development of high‑quality credit ratings and research in a collaborative, market‑facing environment.
What You'll Do
Analyze RMBS transactions, including collateral characteristics, capital structures, credit enhancement levels, legal frameworks, and due‑diligence findings.
Develop a strong understanding of U.S. mortgage products, origination and servicing practices, and key performance drivers.
Run and review cash‑flow models, loan‑level analytics, and scenario/sensitivity analyses to evaluate expected loss and credit risk.
Review banker cash flow outputs and provide feedback on transaction structure.
Present findings to internal rating committees.
Participate in criteria development, model enhancements, and analytical framework improvements.
Contribute to publications such as market updates, sector commentary, and research notes.
Join meetings with bankers, borrowers, investors, and other market participants to discuss transaction terms and analytical considerations.
What you Bring
Bachelor’s degree in finance, math, economics, data science, engineering, or related fields.
Strong analytical and quantitative skills; high attention to detail; proficiency in Excel.
Excellent communication and presentation skills.
Ability to work in a team‑oriented environment and manage multiple deadlines.
Nice to have
Master’s degree in a quantitative or analytical discipline.
Experience with Python, VBA, R, SQL, or other programming languages.
Familiarity with structured finance, mortgage products, or cash‑flow modeling.
About Us
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.
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
100% 401k match up to 6% of salary
Stock Ownership Potential
Company provided life insurance - 1x salary + commission
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
Base Salary Compensation Range
$75,182.00 - 100,182.00 USD Annual
Incentive Target Percentage
10% Annual
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.
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