ASSOCIATE PORTFOLIO MANAGER – SECURITIZED CREDIT
The Securitized Credit Team is looking for an Investment Associate to focus on Non-Agency Mortgage-Backed Securities (MBS) and Asset-Backed Securities (ABS). Based in Boston, MA, this person would work closely with the Securitized Credit Team to assist in investment decisions within dedicated securitized credit mandates and multi-sector fixed income portfolios.
- Assist in day-to-day management of securitized credit positions within various subsectors such as post-crisis RMBS (Non-QM, SFR, CRT, RPL), ABS (Autos, Student Loans, Equipment, Consumer Loans), and CMBS (Conduit, SASB, CRE-CLO).
- Build and maintain scalable systems to monitor collateral performance and position valuations using tools such as Bloomberg, Python, SQL, R, Stata, and other platforms and languages.
- Monitor issuer, industry, and market trends within a comprehensive surveillance process.
- Develop econometric models to forecast prepayments, defaults, and losses on pools of residential, consumer, and commercial loans.
- Perform credit analysis and propose trade ideas for client portfolios with a focus on relative value and security selection within securitized credit sectors. Assess strengths and weaknesses of securitization structures, risk scenarios, and legal documents on new issue and secondary offers.
- Execute trades in the primary and secondary market. Build and maintain relationships with sell side research, trading desks, rating agencies, issuers, and other industry participants.
- Develop and maintain broker/dealer contacts. Aggregate and manage new-issue orders.
- Assist with evaluation and documentation of ESG risks within securitized assets.
- Detail oriented, intellectually curious team player who is able to work in a fluid work environment with tight deadlines and make buy-and-sell investment decisions under pressure.
- Bachelor’s degree required, preferably in an analytical field. CFA charterholder or progress towards the CFA designation is preferred.
- Proficiency and interest with programming languages is required. Specific experience with Python, R, C#, or SQL is ideal.
- 5+ years of fixed income investments experience is required. Specific experience within securitized assets (MBS, ABS, CMBS) is strongly preferred
- Analytical skills and attention to detail is essential. Applied experience making decisions using statistics or econometrics is preferred.
- Ability to collaborate and communicate across all areas of the organization including sales, marketing, compliance, trading, and operations, is critical.