Job Title: Senior Credit Analyst - Sector Lead (multiple positions)

Location:
New York, NY

Responsibilities:

• Act as a lead analyst on structured finance transactions, and present analysis to rating committee (15%).

• Perform transaction analysis including analysis of collateral, deal structure and legal issues. Experience with analysis of representation and warranties provided on the loans in the transaction.

• Understanding of the general underwriting guidelines of originators to analyze the implications to the credit quality of the transaction collateral (5%).

• Build and maintain relationships with bankers, investors and originators (3%).

• Experience with assigning ratings to RMBS transactions backed by Non-QM, prime jumbo QM, STACR, CAS, Manufactured housing, re-verse mortgages, fix-and-flip loans other residential mortgage loans, and SFRs (5%). Focus on key credit issues during the new issue rating process (3%).

• Test cash flows to confirm accuracy and robustness of cash flow models (3%). Experience with structured products market and technical expertise in using fixed income analytical systems such as Intex (Dealmaker, Calc) and Bloomberg (5%).

• Coordinate with technology team to build and improve processes (5%). Experience with VBA, Python, or other basic programming language (3%).

• Represent organization in industry conferences and panel discussions (2%). Understanding of the general industry regulations, disclosure practices and compliance requirements in the RMBS sector (2%).

• Conduct scenario/sensitivity analysis and communicate analysis to senior staff and colleagues (3%). Conduct analysis to evaluate the credit profile of securities and review related legal documents (5%).

• Participate in criteria development and enhancement of structured finance models (3%). Proficient in design, testing, validation, understanding biases and exploitable imperfections of various mortgage default and prepayment models (2%).

• Understanding of Esoteric ABS & Insurance Linked notes, CMBS, Consumer ABS, and, CDOs/CLOs to act as independent voter during rating committees (3%).

• Experience with analyzing negative convexity and credit specific attributes of mortgage collateral, analyzing deal structures, legal documents, origination, servicing, and loss mitigation practices across Agency and Non Agency MBS (2%).

• Produce and publish industry commentaries and newsletters (12%). Proven ability to lead teams of developers to build and support credit analysis applications through a complete product life cycle (15%).

• Participate in external meetings with bankers, investors, and originators road knowledge of Fixed Income products with focus on Agency and Non-Agency RMBS, Whole Loans, prime jumbo QM, Manufactured housing, re-verse mortgages, fix-and-flip loans other residential mortgage loans, Single family rental (SFRs) (3%).

• Experience with identifying relative value opportunities across Agency and Non Agency MBS (1%).

• ***Remote work requests will be considered consistent with company's remote work policy. ***Domestic travel required, not more than 10 days throughout the year.

Requirements:

• 3- or 4-year bachelor's degree in Finance, Math, Economics, Computer Science, Engineering, or any other related field and 7 years of experience in structured finance in Credit Analyst or a related position.

• This position also requires: experience with assigning ratings to RMBS transactions backed by Non-QM, prime jumbo QM, STACR, CAS, Manufactured housing, re-verse mortgages, fix-and-flip loans other residential mortgage loans, and SFRs;

• experience with structured products market and technical expertise in using fixed income analytical systems such as Intex (Dealmaker, Calc) and Bloomberg;

• experience with credit and legal aspects of structured finance transactions in the residential mortgage product area;

• experience performing transaction analysis including analysis of collateral, deal structure, and legal issues; experience with quantitative and analytical skills;

• experience with VBA, Python, or other basic programming language; experience with industry regulations, disclosure practices and compliance requirements in the RMBS sector;

• experience with loan underwriting guidelines of originators to analyze the implications to the credit quality of the transaction collateral;

• experience with analysis of representation and warranties provided on the loans in the transaction; experience producing and publishing industry commentaries and newsletters;

• experience representing organization in industry conferences and panel discussions; experience participating in external meetings with bankers, investors, and originators;

• experience with Esoteric ABS & Insurance Linked notes, CMBS, Consumer ABS, and, CDOs/CLOs to act as independent voter during rating committees;

• experience with identifying relative value opportunities across Agency and Non Agency MBS;

• experience with leading teams of developers to build and support credit analysis applications through a complete product life cycle; experience with design, testing, validation, understanding biases and exploitable imperfections of various mortgage default and prepayment models.

Must possess unrestricted right to work in the U.S. in this position

Base Salary: $ 173,555

Annual Bonus Target:15% of base pay

.

.

.

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.