MDP Track: Credit Ratings Analyst (Campus)

The Program: At Morningstar, we seek individuals who are smart, creative, hard-working, curious, and passionate about their work. We built the Morningstar Development Program to prepare recent college graduates for successful, long-term careers at Morningstar. Throughout this two-year program, you will be placed in a cohort where you'll receive ongoing career development, networking, mentoring, training opportunities, apprenticeship program opportunities, and exposure to different areas of the business to help you succeed.
About the role: The successful candidate will mainly serve as a support analyst for lead analysts and team leads for Morningstar DBRS rated transactions.. The successful candidate will be expected to gradually develop a solid understanding of the US and Canadian real estate sectors and to acquire a broad understanding of the appropriate Morningstar DBRS rating methodologies and criteria.
Morningstar DBRS is registered with the U.S. Securities and Exchange Commission as a nationally recognized statistical rating organization (NRSRO). Morningstar DBRS 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.
Job Responsibilities:

• Support the lead analysts in evaluating credit risk, while adhering to the relevant rating methodology.

• Determine Morningstar DBRS stabilized cash flows of all major property types (office, retail, multifamily, MHC, hotel, self-storage) and a variety of loan sizes ($1 million to > $100 million)

• Prepare/update spreadsheets on rated entities including historical information and financial projections.

• Search and aggregate market data to be used in credit analysis.

• Track key economic and industry indicators and various asset class metrics.

• Review third-party reports including appraisals, property condition reports, environmental reports, and other industry specific reports.

• Contribute text and analysis for rating reports, press releases, commentaries, presentations and industry reports under the supervision of lead analysts.

• Assist with the preparation of rating committee materials and participate in Rating Committee meetings under the guidance of lead analysts.

• Assist with the publishing workflow, including regulatory disclosures.

• Develop a solid understanding of real estate asset classes covered by the team.

• Develop client-communication skills through interacting with issuers, investors, and intermediaries.

• Adhere to compliance, regulatory and company policies and procedures.

Location: New York
Start Date: July 6th 2026
What we look for:

• A bachelor's degree completed no later than May 2026 in accounting, business, finance or other relevant discipline preferred.

• Strong analytical abilities and knowledge of financial statements.

• Solid research and analytical skills, with acute attention to detail.

• Strong communication skills, both oral and written.

• Self-starter and strong team player, with the ability to meet deadlines while producing high quality work.

• Genuine interest in commercial real estate and structured finance.

• Ability to travel 10-20% domestically/ North America.

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

A resume is required to apply. **Please be sure to include the word "Resume" in the file name of the resume you upload
Total Cash Compensation Target:
89,100 USD
Inclusive of annual base salary and target incentive
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
  • 75% 401k match up to 7%
  • 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 Bonding Leave
  • Adoption Assistance
  • Leadership Coaching & Formal Mentorship Opportunities
  • Annual Education Stipend
  • Tuition Reimbursement

• Social Health
  • Charitable Matching Gifts program
  • Dollars for Doers volunteer program
  • Paid volunteering days
  • 15+ Employee Resource & Affinity Groups

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.