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Vice President, Credit Ratings
Morningstar
New York, NY, United States
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The Morningstar Credit Ratings CMBS New Issue Ratings team is seeking a Loan and Transaction Analyst to critically analyze commercial real estate loans and securitized products and assist with providing credit ratings on CMBS transactions. In this position, the successful applicant will lead teams to generate credit ratings for CMBS transactions. This includes deriving subordination levels and performing a fundamental analysis of loan underwriting to derive sustainable net cash flow and property valuations on a broad range of properties. The analyst will also write Asset Summary Reports and support various research projects.
The team: Morningstar Credit Ratings, LLC is registered with the U.S. Securities and Exchange Commission as a nationally recognized statistical rating organization (NRSRO). This Morningstar, Inc. subsidiary has earned a reputation for innovation and excellence in the structured finance market and aims to increase market transparency by providing the highest-quality ratings, securities research, monitoring services, operational risk assessments, data, and technology solutions.
The role:
• Lead a team of analysts to re-underwrite cash flow and property valuations for commercial real estate loans backed by a variety of property types, including retail, office, multifamily, industrial, and lodging.
• Review third party reports including appraisals, property condition reports, environmental reports, seismic surveys, and other industry specialized reports.
• Present and evaluate analysis in loan review meetings, and write and review detailed Asset Summary Reports.
• Perform property site visits in support of loan analysis.
• Assist with ongoing refinement of loan analysis criteria, model templates, and new product development projects.
• Lead/assist with research projects in support of CMBS ratings, model assumptions, and Thought Leadership initiatives.
• Requirements:
• At least five years of direct experience in commercial real estate underwriting or analysis.
• Working experience with property appraisals, assets management, and/or loan workouts is preferred.
• A bachelor’s degree is required, a major in finance or related field is preferred.
• Advanced proficiency in Microsoft Excel.
• Ability to travel 10-20%.
• Excellent communication, writing, and presentation skills.
• Possess and maintain a valid driver’s license.
Location:
The position is based in either our New York City office or in our Horsham, Pennsylvania office.
Morningstar is an equal opportunity employer.
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