Credit Research Analyst
3 days ago
Job Description:
We are seeking a skilled Credit Research Analyst to join our team at State Street Global Advisors. As a key member of our Structured Products Credit Research team, you will be responsible for leading credit research and security selection for Non-Agency RMBS investment efforts in our Fixed Income, Cash & Currency (FICC) department.
The role will involve contributions to the broader structured products and ABS investment efforts. You will work closely with portfolio managers to recommend investments, sales, and portfolio re-balancing, as appropriate. Your expertise will also be utilized to assess RMBS and structured product investment opportunities using our suite of tools, including Intex, Trepp, Aladdin/ANSER, and Proprietary New Issue Stress Model.
Responsibilities:
- Subject matter expert on US Residential Real Estate Debt and Non-Agency RMBS in Fixed Income
- Contributing analytical responsibilities for a broad set of structured investment products, including esoteric ABS sectors
- Possess strong relationships with street research and trading desks, industry strategists, and the respective analysts at the credit rating agencies
- Review primary and secondary market Non-Agency RMBS investments to determine suitability for any managed portfolios. Reviews to include qualitative and quantitative analysis of the underlying loans in perspective investments. Make purchase and sale recommendations based on credit profile and valuation
- Synthesize real estate market conditions to create/update base, stress, and other scenarios to analyze the Non-Agency RMBS investments in order to generate cash flows to test for potential impairments and identify potential risks or trading opportunities
- Review legal documents related to securitization investments and evaluate the structural nuances of investment opportunities
- Lead role in ongoing portfolio construction, analysis, and monthly surveillance of structured product and ABS holdings in Active Fixed Income funds and insurance portfolios
- Contribute to top-down sector risk targeting discussions
Qualifications:
- Five to ten years of experience in real estate and/or structured products with experience in Non-Agency mortgages
- CFA and/or MBA preferred
- Thorough understanding of the structural nuances that govern securitization is necessary
- Ability to work under pressure
- Ability to incorporate multiple risk profiles when making investment recommendations
- Proficiency with EXCEL
- Proficiency in Blooberg, Intex, Trepp, and other standard industry platforms, in order to utilize CMBS, RMBS, and CMO securities libraries for quantitative modeling exercises
Benefits:
- Diverse range of medical care plans to suit your needs
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