PGIM Fixed Income is looking to hire a research position to lead the mortgage credit research team within the Securitized Products Research group. This role will be responsible for analyzing mortgage credit, formulating investment strategies, and overseeing the mortgage credit portfolio to solve financial challenges in an ever-changing world.
Requirements
- Underwriting public RMBS, mortgage whole loan and mortgage related ABF investment opportunities: developing tools for analyzing residential mortgage credit risk; negotiating document terms with issuers, sponsors, and other transaction parties; determining proprietary credit ratings; performing an ESG review of the issuer and transaction parties and assigning a proprietary ESG Impact score
- Undertaking the ongoing monitoring and analysis of existing positions to assess credit risk, credit ratings stability, cash flow volatility, portfolio positioning and trading opportunities
- Presenting results from transaction-specific and sector-wide analyses to wider internal and external audiences, including portfolio managers and clients
- Maintaining views on industry-wide issues that impact originators, broker/dealers, and investors
- Responsibilities may include monitoring U.S. and global regulatory changes, accounting and capital requirement changes, federal, state, and global lending laws, and any legal precedents
- Building and maintaining relationships with sell side firms and issuers
- Demonstrated experience in developing and utilizing mortgage models, either independently or in close collaboration with a quantitative modeling team.
Responsibilities
- analyzing transaction collateral
- assigning internal credit ratings
- reviewing transaction documentation packages
- developing and maintaining issuer and complementary creditor partnerships
- conducting issuer due diligence as necessary
- communicating with investment banking teams
- working closely with the structured products portfolio managers on all aspects of mortgage credit sectors
Other
- Training and development of junior analysts
- BA/BS degree (MBA, MS and/or CFA are pluses)
- Candidate should have a minimum of 10 years of experience in mortgage credit research
- Outstanding performance in prior experience and demonstrated leadership qualities
- Works well as part of a team and enjoys a fast paced, high intensity environment
