Vice President, Structured Finance - Consumer ABS

The Role:

Morningstar DBRS is seeking a Vice President to join our U.S. Asset-Backed Securities team in New York. This role will lead the analysis of new consumer ABS transactions and contribute to the independent credit opinions that help investors and market participants assess risk across the securitization market.

You'll evaluate collateral performance, transaction structures, legal frameworks, and consumer credit trends across a range of consumer asset classes, including auto loans and leases, credit cards, consumer loans, personal lines of credit, student loans, residential solar, and other specialty consumer finance sectors. As a lead analyst, you'll present recommendations to rating committees, engage directly with issuers, bankers, investors, and legal counsel, and help shape Morningstar DBRS's views on evolving credit risks..

This role offers the opportunity to combine deep transaction analysis with broader views on consumer credit performance, contributing to independent credit opinions across a diverse range of asset classes, structures, and market cycles.

What you'll be doing

• Lead the analysis and rating of new consumer ABS transactions, including collateral assessment, structural analysis, operational reviews, legal analysis, and cash flow evaluation.
• Serve as lead analyst on assigned transactions, presenting recommendations to rating committees and defending analytical conclusions.
• Assess collateral performance, underwriting practices, servicing capabilities, and macroeconomic trends to develop forward-looking credit views.
• Analyze transaction structures and credit enhancement mechanisms to evaluate performance under a range of stress scenarios.
• Engage directly with issuers, bankers, investors, servicers, and legal counsel throughout the rating process.
• Partner with quantitative, legal, criteria, and surveillance teams to support high-quality rating decisions and published research.
• Author presale reports, rating reports, research publications, and market commentary covering developments across consumer ABS sectors.
• Represent Morningstar DBRS in issuer meetings, investor discussions, industry events, and other external forums.
• Contribute to methodology development, analytical tools, and sector research initiatives.
• Mentor junior analysts and support a culture of analytical rigor, collaboration, and continuous learning.

What we're looking for

• 7+ years of experience in structured finance, consumer ABS, securitization, credit investing, transaction structuring, ratings, surveillance, or consumer credit risk.
• Direct experience analyzing, structuring, investing in, monitoring, or rating consumer ABS transactions.
• Strong understanding of collateral performance, transaction structures, credit enhancement mechanisms, legal frameworks, and cash flow analysis.
• Ability to form and defend independent credit opinions supported by quantitative and qualitative analysis.
• Experience evaluating consumer credit trends, underwriting practices, servicing performance, and macroeconomic developments.
• Strong analytical, communication, and presentation skills, including experience presenting conclusions to senior stakeholders, investment committees, rating committees, or other decision-making forums.
• Proven ability to manage multiple transactions and priorities while maintaining high analytical standards and attention to detail.
• Bachelor's degree in Finance, Economics, Mathematics, Statistics, Engineering, Computer Science, or a related field.

Nice to Have

• Experience with consumer asset classes such as auto loans and leases, credit cards, unsecured consumer loans, point-of-sale finance, marketplace lending, student loans, or specialty consumer finance.
• Experience with structured finance cash flow models, Intex, or related analytical tools.
• CFA, FRM, or advanced degree in a quantitative discipline.

The Group

The U.S. ABS team covers a broad spectrum of asset-backed securities, spanning consumer, commercial, and specialty finance sectors. The team is responsible for assigning ratings, publishing research, and providing independent analysis on transactions that play an important role in global capital markets.

Working across a variety of asset classes and structures, team members combine quantitative rigor, market insight, and sound credit judgment to evaluate risk and identify emerging trends. The collaborative nature of the platform provides opportunities to deepen sector expertise, contribute to thought leadership, and engage with issuers, investors, bankers, and other market participants across the securitization market.

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

$113,308.00-$178,794.66

Incentive Target Percentage

30% 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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