Analyze RMBS transactions across new issue and secondary markets, including collateral characteristics, loan underwriting trends, servicer performance, credit enhancement, and structural features.
Develop and maintain internal credit views and relative value assessments for RMBS sectors such as non-QM, CRT, jumbo, HELOC, other residential mortgage-related products.
Build scenario analyses to assess bond performance under varying collateral and home price assumptions.
Monitor portfolio holdings and market developments, identifying changes in collateral behavior, housing market fundamentals, consumer performance, and regulatory developments that may affect risk and return.
Partner with portfolio managers and other research teams to formulate investment recommendations across RMBS and mortgage whole loans
Review transaction documents, third-party reports, and legal structures to evaluate protections, triggers, representations and warranties, and other deal-specific considerations.
Engage with issuers, dealers, servicers and other market participants to deepen market insight and support due diligence.
Contribute to internal presentations and client-facing materials on RMBS market themes and portfolio positioning.
Requirements
BA/BS degree required
4-7 years of relevant experience in fixed income, securitized products, mortgage finance, or securitized products research, with meaningful exposure to RMBS or related residential mortgage products.
Strong analytical and quantitative skills.
Programming and data visualization skills (e.g., Python, Power BI, Tableau) are preferred.
Experience with Intex and structured finance modeling are preferred.
Exposure to residential mortgage collateral, securitization structures, cash flow analysis, and key drivers of RMBS performance are preferred.
Proficiency in Excel and some experience working with large datasets is required.
Strong attention to detail and ability to manage multiple assignments in a fast-paced environment.
Excellent communication and presentation skills, with the ability to articulate investment views clearly.
Ability to work independently and collaboratively across teams.
Intellectual curiosity and strong interest in RMBS and housing markets.
*PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.
What we offer you:
Market competitive base salaries, with a y
Benefits
Vision insurancePerformance bonus
Additional Information
Job Classification:
Investment Management - Investments
A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE
As the Global Asset Management business of Prudential, we're always looking for ways to improve financial services. We're passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world.
We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you'll unlock a motivating and impactful career - all while growing your skills and advancing your profession at one of the world's leading global asset managers!
If you're not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that's investing in your future by shaping tomorrow today.
At PGIM, You Can!
Pru · Newark, NJ