Equity Analyst, ESG at Morningstar
Morningstar is committed to empowering investor success. One way we accomplish this is by offering independent research and great software products to financial advisers and individual investors. We believe that when the investor wins, we all win.
At Morningstar, your contributions have meaning and can drive change. We offer a place where talented, driven people can grow. Our differences are our strength; the fact that we don't all think the same way and encourage unique perspectives helps create great products and services for our clients.
Morningstar Equity Research is a leading global provider of independent research on companies and industries. The team is comprised of 125 researchers with offices in Chicago, Amsterdam, Hong Kong, Shenzhen, Singapore, Sydney, and Tokyo. A long-term oriented and fundamentals-focused research and valuation methodology is deployed across coverage of over 1,500 stocks.
Our Equity Research team requires an equity analyst on our environmental, social, and governance (ESG) team. This role will cover listed stocks in a specific sector while also supporting Morningstar's ESG research efforts, including collaboration with Sustainalytics. The partnership between the two research organizations aims to establish clear market leadership for the Sustainalytics ESG Risk Rating and joint thought leadership in ESG investing. The position offers considerable intellectual freedom to focus on developing long-term oriented, original, and in-depth insights on complex issues with an emphasis on understanding ever-changing competitive dynamics and ESG issues. The analyst will publish research pieces that exemplify our reputation for thought leadership, our ability to assess outcomes amid uncertainty, and provide the analysis our clients need to make better investment decisions. The position will preferably be seated in our Amsterdam or Chicago office.
Job Responsibilities• Analyze publicly available information, earnings reports, alongside internally generated data to create investment mosaic and estimate fair values for 7 - 9 companies.• Facilitate Morningstar equity research collaboration with counterparts at Sustainalytics, a Morningstar company, to enhance the Sustainalytics ESG Risk Rating.• Assist in the integration of ESG risk factors into Morningstar's Economic Moat and Uncertainty ratings.• Regularly publish reports, detailed discounted cash flow models that focus on the key drivers of the business, and in-depth research pieces, including the qualitative and quantitative analyses of your coverage's Economic Moats and ESG risks.• Develop relationships with coverage companies and industry participants by attending company events and industry conferences to enhance research and build brand.• Become an expert in Morningstar's Economic Moat research methodology and Sustainalytics' ESG Risk Rating process.• Proactively surface attractive investment ideas internally and externally to support all products and clients.• Always act with independence and an 'investors first' attitude.
Qualifications & experience required:• Bachelor's degree required; a CFA designation and/or MBA or a master's is preferred.• Three to five years of experience in sell side or buy side equity research; alternatively, three to five years of industry experience combined with a proven interest in equity research or ESG analysis.
Other skills:• Strong communication skills, both written and oral.• A bright, motivated individual with intellectual curiosity, a passion for creative analysis, and attention to detail.• Ability to think broadly and creatively about a range of strategic issues affecting a business.• Ability to couple strong communication skills with qualitative and quantitative acumen.• Ability to make decisions under tight deadlines with incomplete information.• Possess independence, critical thinking skills, and a passion for investing, with a bias toward long-term fundamental research.• Sound financial modelling skills and knowledge of discounted cash flow modelling techniques. Advanced Excel proficiency is expected.• Work well within a team and be capable of respectfully accepting and providing constructive feedback.
Nice to have• Experience in data mining or processing languages, such as Python or Visual Basics for Applications.
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