Morningstar

Assistant Vice President, Credit Ratings - Project Finance

New York Full time

The Group

The Global Project Finance & Infrastructure team is seeking a highly motivated Assistant Vice President (AVP) to join its New York-based analytical platform, supporting North American project and infrastructure mandates. 

The Role

In this newly created role, you will be working closely with a team of analysts, and play an active role in the analysis and execution of ratings across a diverse portfolio of project finance and infrastructure transactions including power and energy assets (e.g., gas, wind, solar, hydro), digital and telecommunications infrastructure, transportation and social infrastructure (e.g., PPPs, toll roads, airports, ports), and bespoke limited-recourse financings such as large industrial assets and stadium projects. 

The AVP will support both new rating assignments and ongoing portfolio surveillance through detailed financial analysis, credit modeling, and transaction assessment. Over time, the successful candidate will assume increasing analytical ownership, transitioning from supporting analyst responsibilities to acting as a lead analyst across a range of asset classes. 

In addition to transaction work, the role involves contributing to rating committee materials, published credit opinions, and topical research, providing exposure to the broader analytical framework that underpins the team’s ratings and thought leadership across the evolving infrastructure landscape. 

Responsibilities

  • Support coverage of the existing U.S.-based project finance and infrastructure ratings portfolio 
  • Participate in issuer and investor meetings alongside team leads and senior analysts 
  • Contribute to new rating assignments, initially as a supporting analyst and ultimately as a lead analyst 
  • Perform financial and operational analysis using credit models and analytical frameworks 
  • Produce timely, high-quality rating reports, research notes, and commentaries 
  • Maintain and analyze financial datasets related to rated entities 
  • Support rating committee preparation and analytical discussions 
  • Contribute to the development and maintenance of relationships with fixed-income investors 
  • Provide analytical support to business development initiatives 
  • Assist in the refinement of methodologies, research products, and rating approaches 
  • Contribute to the delivery of timely and forward-looking sector research 

Qualifications

  • Five to seven years of relevant professional experience, including at least three years in Project or Infrastructure Finance 
  • Degree in business, economics, commerce, engineering, or a related discipline 
  • Strong analytical and financial modeling skills with a high attention to detail 
  • Experience reviewing financing agreements and legal documentation from a credit perspective 
  • Strong written and verbal communication skills 
  • Demonstrated ability to operate in a fast-paced, team-oriented environment 
  • CFA designation (or progress toward) or MBA preferred 
  • Experience in public-private partnerships is an asset 
  • Prior rating agency experience is considered an asset 

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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