Global Sovereign Ratings Vice President - Public Finance
About the job
- Seven years of public policy or finance experience, with a minimum of five years in a public finance credit or analysis role.
- A bachelor's and/or master's degree in Economics, Finance, Public Policy, Public Administration, or another relevant discipline.
- Knowledge of broader public sector and not-for-profit entities and of the functioning of various levels of government.
- Solid research and analytical skills with attention to detail.
- Strong oral and written communication skills.
- Ability to meet deadlines while producing high-quality work.
- Assume lead analyst coverage of existing public finance ratings, including states and provinces, municipal governments, universities, hospitals, and other government-related entities.
- Perform issuer and industry research and financial statement analysis, and assess issuer forecasts and management strategy to inform rating recommendations.
- Produce timely, high-quality credit reports and commentaries on rated issuers and industry trends; engage with media and handle investor queries on rated issuers.
- Interact with and maintain relationships with issuers, investors, and intermediaries.
- Respond to and lead new rating opportunities and assignments in the Canadian and U.S. public finance sector.
- Contribute to the refinement of research products and rating methodologies.
- Oversee the work of junior analysts and help train and mentor less experienced team members.
- Adhere to regulatory requirements, including detailed record-keeping, training, and compliance with company policies and procedures.
- Disclose personal and related investments to the Compliance team after accepting an offer; holdings identified as conflicts must be liquidated, and certain employee accounts must be held with an approved broker where applicable.
- French language skills.
- Completion of the CFA program.
About the company
Morningstar provides independent investment research and data to individual investors, financial advisors, and asset managers. It offers subscription-based access to a broad database of investment information, analytics, and tools through platforms like Morningstar Advisor Workstation, Morningstar Office Cloud, and Morningstar Cloud, plus managed portfolios and retirement services. The company differentiates itself with a wide breadth of data across retail and professional channels, strong ESG offerings through Sustainalytics, and an ecosystem that combines research, portfolio management, and retirement services. Its goal is to help users make informed investment decisions by delivering reliable data, analytics, and ESG insights while growing its subscription business.
Company Size
10,001+
Company Stage
IPO
Headquarters
Chicago, Illinois
Founded
1984
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Simplify's Take
What believers are saying
- Q2 2026 revenue rose 9.6% to $663.2 million, with 28.4% operating-income growth.
- Morningstar repurchased $300 million in Q2 2026 and $1.1 billion since 2024.
- PitchBook's Time to Exit and Corporate Credit Analytics expand higher-value private-market products.
What critics are saying
- PitchBook revenue grew only 4.9% in Q2 2026, limiting AI partnership monetization.
- Morningstar carried $723.5 million debt at December 31, 2025 after refinancing.
- OpenAI, Google, Microsoft, and Perplexity can disintermediate Morningstar if connectors commoditize data.
What makes Morningstar unique
- Morningstar's proprietary public-market research plus PitchBook private capital data spans both markets.
- August 2026 Gemini Enterprise and June 2026 Microsoft Copilot integrations embed Morningstar into workflows.
- CEO Kunal Kapoor said over half employees completed AI Academy by August 2026.
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Benefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
Unlimited Paid Time Off
Sabbatical Leave
401(k) Retirement Plan
401(k) Company Match
Paid Sick Leave
Parental Leave
Adoption Assistance
Hybrid Work Options
Stock Options
Professional Development Budget
Tuition Reimbursement
Mentorship Program
Employee Referral Bonus
Company Social Events
Company News
Morningstar has launched Morningstar Direct AI, an agent-based upgrade to its flagship analytics platform. The tool helps professionals with research, product design, and distribution work. The stock has risen 8% over seven days and 19.84% over 90 days, closing at $204.30. Returns over one, three, and five years remain negative. The most followed analyst narrative puts fair value at $236.67, making the stock 14% undervalued. A Simply Wall St discounted cash flow model estimates $162.54, which would mean the shares trade above fair value. Risks include weak client adoption of the AI tools and continued insider share sales.
Morningstar's PitchBook private markets data was integrated into OpenAI's ChatGPT for Financial Services platform in September 2026, enhancing AI-assisted analytical tools for finance professionals. The collaboration highlights the growing importance of high-quality private market datasets as foundational inputs for advanced AI models serving institutional investors. The integration reinforces Morningstar's investment narrative by spotlighting the value of its proprietary datasets as AI inputs. The move could act as a catalyst for data licensing and deeper platform adoption, supporting the case for current buybacks and dividends. However, Morningstar faces key risks around its high debt load, relatively modest growth outlook, and share price performance that has lagged broader markets. Community fair value estimates range from about $161,000 to over $329,000, showing divergent views on the company's prospects.
Morningstar stock, recently valued at $7.5 billion, could reach $13.2 billion within five years, according to market analysis based on the company's growth trajectory. The financial services firm has demonstrated consistent expansion, with net income rising from $223.6 million in 2020 to $421.6 million on a trailing-12-month basis. The projection assumes a continuation of Morningstar's 12% average annual growth rate over the past five years. Revenue grew from $1.39 billion in 2020 to $2.45 billion in 2025. The company's flagship platform increased 6% year-over-year, whilst its PitchBook platform serving venture capital and private equity businesses saw nearly 10% revenue growth. Morningstar manages approximately $375 billion in client assets. Current valuation metrics suggest the stock may be undervalued, with its forward price-to-earnings ratio at 16.3, down from 31.9 a year ago.
Morningstar and PitchBook announced integrations with Google Cloud's Gemini Enterprise for Financial Services through the Model Context Protocol. The integrations are expected to be available imminently. The partnerships allow eligible subscribers to access investment data, research, and market intelligence directly within Gemini Enterprise. Morningstar provides public market insights, whilst PitchBook delivers private capital markets intelligence covering companies, investors, funds, and transactions. The integrations aim to help financial professionals access source-attributed investment information within AI workflows. Users can conduct research without switching between multiple applications whilst maintaining visibility into data sources behind AI-generated responses. Morningstar and PitchBook join Google Cloud as launch partners for the preview of Gemini Enterprise for Financial Services. The move forms part of broader efforts to make investment intelligence available across leading AI platforms.
Morningstar shares fell 9.79% in Q2 2026 despite solid financial performance, as investors worried about generative AI disrupting its data and research businesses. The company reported 8% organic revenue growth and 18% adjusted EBIT growth over 12 months. Baron Partners Fund, which holds Morningstar, noted the company maintains high-quality, hard-to-replicate data businesses. Management accelerated share buybacks, repurchasing $300 million in the most recent quarter and $1.1 billion since 2024. The stock traded at $207.41 on 14 August 2026, with a market capitalisation of $7.78 billion. Shares fell 19.78% over the past 52 weeks but gained 20.76% in the preceding month. Baron Partners Fund believes Morningstar's trusted, structured data remains valuable for AI applications, with the stock trading at a 63% discount to its three-year average multiple.