Credit Track - Morningstar Development Program

This job is with Morningstar, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ business community. Please do not contact the recruiter directly.

The Program

At Morningstar, we want people who are smart, creative, hard-working, curious, and passionate about their work. We hire all majors, including liberal arts, as we appreciate the different perspectives they bring to our company. We built the Morningstar Development Program to prepare recent college graduates for successful, long-term careers here 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, and practicum program opportunities to help you succeed at Morningstar.

Position Description

We are accepting applicants with less than 2 years of full-time work experience. While we look for individuals who have an interest in investing, we welcome all fields of study. All positions are based in our Chicago office.

The Credit Analyst Will Join Either The Private Corporate Credit, Asset-Backed Securities (ABS), Residential Mortgage-Backed Securities (RMBS), Commercial Mortgage-Backed Securities (CMBS), Structured Credit, Surveillance, Cash Flow Analytics, Global Financial Institutions Or The Sovereign Ratings Team. Specific Tasks May Include

• Develop an understanding of credit aspects of transactions
• Review legal documents pertaining to transactions
• Conduct research on various credit-related topics and produce summaries of findings
• Gather, clean and analyze data for use in ratings, methodology development and external research publication
• Develop, maintain and improve cash flow engines
• Act as a back-up analyst on transactions, and present to rating committee
• Communicate analysis to senior staff and colleagues on related teams
• Support in criteria development and enhancement of models
• Assist with adherence to procedures and regulatory compliance
• Prepare compliance reports and company publications
• Review and apply rating methodologies to transactions
• Participate in meetings with bankers, investors and originators
• Follow, summarize and share research and presentations of outside market participants
  
  

The Teams

• The ABS team is responsible for rating and monitoring bonds and bank credit facilities secured by auto loans and leases, credit cards, consumer loans, etc.
• The RMBS team is focused on assigning ratings for structured finance transactions in the residential mortgage product area.
• The Private Corporate Credit group is responsible for assigning and maintaining ratings of private middle-market companies spanning the diversified industries space.
• The Structured Credit team is responsible for assigning ratings to US collateralized loan obligations (CLOs), CLO warehouse facilities, and off-the-run structured credit transactions.
• The Surveillance team is responsible for monitoring a portfolio of ratings for structured finance transactions across different asset classes.
• Cash Flow Analytics works on developing, maintaining and improving cash flow engines within Structured Finance.
• The FIG team is responsible for assigning and maintaining ratings of financial institutions globally, as well as their associated debt instruments.
• The Sovereign team is responsible for assigning and maintaining ratings of sovereign governments, government related entities, and supranational institutions.
  
  

Location: Chicago

Start Date: July 6th 2026

What We Look For

• Between 0-2 years of professional work experience.
• 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 the private credit market, commercial real estate and structured finance.
• Must possess unrestricted right to work in the U.S. in this position
  
  

Total Cash Compensation Target

80,300 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
• 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
  

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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