Morningstar has seven core values, and the first one is Great People. We spend a lot of time making sure we hire people who are bright, creative, and passionate about our mission of helping investors. The Morningstar Development Program helps us identify our future leaders and develop their skills and interests so they can build a career with Morningstar. -Joe Mansueto, Executive Chairman and Founder
Morningstar Development Program
Morningstar DBRS Credit Ratings Overview & Opportunities
About us
Morningstar DBRS is a full-service global credit ratings business with approximately 700 employees around the world. We're a market leader in Canada, and in multiple asset classes across the U.S. and Europe.
We rate more than 4000 issuers and nearly 60000 securities worldwide, providing independent credit ratings for financial institutions, corporate and sovereign entities, and structured finance products and instruments. Market innovators choose to work with us because of our agility, transparency, and tech-forward approach.
Morningstar DBRS is empowering investor success as the go-to source for independent credit ratings. And we are bringing transparency, responsiveness, and leading-edge technology to the industry.
Quick Facts
- Full-time placement based in our Madrid office
- Rotational exposure to various teams within Morningstar DBRS Credit Ratings business during two years
- Ongoing career development, mentorship, and training
- Stretch project opportunities across different regions, with various business units
Who You Are
At Morningstar, we want people who are smart, creative, hard- working, curious, and passionate about their work. We hire all areas of study as we appreciate the different perspectives they bring to our company. The Morningstar Development Program was established to prepare recent university graduates like you for successful, long-term careers here at Morningstar.
You should:
- Have a bachelor's degree or master's degree in economics/ finance and 0-2 years of full-time work experience
- Possess an outstanding academic record
- Demonstrate excellent leadership and communication skills
- Be curious, enjoy interpreting information and problem solving
- Adapt quickly to different situations and thrive under pressure
Build a Strong Foundation
As a Morningstar Development Program participant, you will gain experience in groups across the company,
exploring full-time placements and stand-alone stretch projects. Each group will expose you to different functions within Morningstar's business, from interacting directly
with clients to working with our data, products, and research. We're looking for people with diverse skill sets capable of approaching a variety of tasks with an open mind and enthusiasm. Professional development workshops, mentorship,
roundtables, and after-work events will give you the opportunity to learn from the great people at Morningstar.
Chart Your Career
If you are selected for the program, you will receive an offer for a Credit Analyst position. This role will provide you with experience and learning opportunities in Morningstar DBRS Credit Ratings business, while building your knowledge about our data, methodology, and research. You will rotate across different teams with possible placements in compliance, fundamental ratings, or structured finance.
Morningstar Development Program Rotational Opportunities
Compliance: The team ensures that Morningstar DBRS functions, both analytical and non-analytical, comply with internal policies and regulations. You will have the opportunity to support the Regional Compliance Officer and the Global Head of Internal Controls.
Corporate Finance: The Corporate Finance Team in Europe covers a broad range of credits across Diversified Industries, Energy and Natural Resources, as well as Asset Finance. You will be supporting a pan-European team with the analysis of financial statements. You will also be involved in financial modelling and helping to draft rating reports and press releases, including compilation of rating committee materials. Observing ratings committees to understand the entire rating process will also be part of the rotational experience.
Financial Institutions: This team is responsible for assigning and maintaining the credit ratings of European Financial Institutions. This includes Banks, Insurance companies and Non-Bank Financial Institutions. You will be assisting with various tasks such as collection and treatment of financial data, drafting rating committees packages, reports and research pieces. You will also receive advanced training about credit rating analysis from Morningstar DBRS' senior team.
Private Credit: This team assigns credit ratings to companies with high debt burdens and operating earnings of up to EUR 150 million (so-called middle market companies). Most of these companies are controlled by private equity sponsors. You will support our fast-paced team by assessing financial statements, analyzing business profiles and preparing materials for rating committee discussions.
Sovereign: The Sovereign team's main activity is to analyze macroeconomic and financial indicators of both countries and public sector entities to measure their credit risk. This implies collecting data, reading documents published by official institutions and using quantitative models.
Structured Finance: There are more than 70 analysts in the European Structured Finance team responsible for analyzing European securitization transactions. Securitization transforms an (illiquid) pool of financial assets into a (liquid) security through financial structuring, allowing for raising capital and transferring risk to capital market investors. The team's work process is mainly based on 1) analyzing the portfolio of assets and the structure of the transaction and 2) writing down, presenting and defending their analysis to other participants in a rating committee, ultimately to users of their ratings.
Morningstar's hybrid work environment gives you the opportunity to work remotely and collaborate in-person each week. We've found that we're at our best when we're purposely together on a regular basis, at least 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.
