Assistant Vice President, Asset Backed Securities - Commercial, Esoteric & New Assets

About the Role

The Morningstar DBRS U.S. ABS team is seeking a ratings analyst with strong quantitative and analytical skills at the Assistant Vice President level to support the Commercial ABS platform. The role is based in New York, New York as part of the Global Structured Finance team. The successful candidate will primarily, under the direction of lead analysts and sector leadership, conduct analytical activities required to assign and monitor ratings for U.S. ABS transactions backed by equipment loans & leases, data centers, franchise/whole business securitizations and other emerging asset classes.

Responsibilities include collateral and obligor assessment, performance data analysis, cash flow and structural analysis, operational and counterparty risk assessment, and legal document review. The role offers exposure to highly structured transactions and evolving asset types in a collaborative, client‑facing environment.

The candidate should demonstrate strong work ethic, analytical rigor, attention to detail, and the interpersonal skills necessary to work effectively with internal stakeholders and external market participants. This role provides meaningful opportunities to build expertise in commercial and esoteric ABS and develop greater transaction leadership responsibility.

Job Responsibilities

• Support senior analysts as part of deal teams on Commercial ABS transactions focused on digital infrastructure and new asset classes

• Analyze historical performance data, collateral characteristics, obligor and counterparty risk, and transaction structures

• Assist in preparing analytical materials and transaction summaries for internal discussions and rating committee review

• Work with the cash flow modeling team to analyze transaction structures and stress scenarios for rating analysis

• Review transaction legal documentation and identify key structural, operational, and legal considerations

• Participate in discussions with issuers, bankers, and other transaction participants regarding data requests and analytical considerations

• Assist in the preparation of rating committee materials, credit memoranda, and analytical presentations

• Support the drafting of disclosure documents including pre‑sale reports, rating reports, press releases, and regulatory disclosures

• Work with the ABS Surveillance team to monitor performance of outstanding transactions and support ongoing rating maintenance

• Coordinate with internal teams (modeling, legal, research) to support credit rating analysis and research initiatives

• Adhere to internal procedures, analytical standards, and regulatory compliance requirements

Qualifications

• Bachelor’s degree in finance, mathematics, economics, computer science, engineering, or a related field

• 4–7 years of experience in structured finance, credit analysis, or securitization

• Exposure to commercial, esoteric assets, or developing asset classes preferred.

• Proficiency in Microsoft Excel and Microsoft Office applications

• Solid understanding of credit analysis, structured finance concepts, and transaction mechanics

• Strong quantitative and analytical skills with close attention to detail

• Effective written, verbal, and interpersonal communication skills

• Self‑motivated, organized, and able to manage multiple priorities in a fast‑paced environment

Nice to Have

• Master’s degree in finance, mathematics, economics, computer science, engineering, or a related field

• Familiarity with 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

$97,854.00 - 157,938.00 USD Annual

Incentive Target Percentage

20% 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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