Senior Analyst Structured Finance, Agency and Non-Agency MBS
Company: Water Mission
Location: Boston
Posted on: November 13, 2024
Job Description:
Senior Analyst Structured Finance, Agency and Non-Agency MBS1
Financial Center, Boston, MA 02111, USA Req #34Thursday, March 14,
2024Loomis Sayles is a performance-driven active asset management
company that seeks to identify exceptional investment opportunities
on behalf of institutional and retail clients worldwide. We believe
active management fueled by proprietary, best-in-class research
helps us achieve financial success for our clients. Founded in
1926, Loomis Sayles currently oversees approximately $310 billion
in assets under management for global clients spanning more than 50
countries. We foster a culture of entrepreneurialism, where all
employees are empowered and encouraged to develop themselves and
their ideas.About the RoleThe Mortgage and Structured Finance (MSF)
team has an opportunity for a senior analyst to join its 20-person
team. This position will report to the Head of Mortgage and
Structured Finance. The analyst will primarily focus on a broad
range of research activities in the Agency and Non-Agency
Mortgage-Backed Securities markets under the direction of the Head
of MSF and the sector portfolio managers. The analyst will also
contribute to the overall development of the proprietary data
management infrastructure that supports the investment activities
of the entire MSF team. The analyst will have full responsibility
for developing investment approach and will be responsible for
generating ideas independently and implementing them.About the
TeamThe team is responsible for the firm's research and investment
activities across the global securitized universe, overseeing a
portfolio of $36.5 bn in assets as of December 31st, 2023. The
portfolio encompasses Agency MBS/CMBS pass-thrus and derivatives,
Non-Agency RMBS, CMBS, ABS, and CLOs. The team has a 10+ year track
record generating strong risk-adjusted returns across four
dedicated strategies spanning from pure agency MBS to deep credit
structured finance.Job Responsibilities
- Lead research coverage of the Agency MBS portfolio, which
consists of $17bn across MBS pass-thrus, agency CMBS, mortgage CMOs
and derivatives. Coordinate and implement an investment-driven
research agenda with the four-person team of agency MBS portfolio
managers and traders.
- Leading role in the continued enhancement of the proprietary
agency MBS prepayment model and other quantitative valuation tools
used in security selection and sector allocation
recommendations.
- Leading role in further developing a loan level proprietary
database covering the full MBS & RMBS markets.
- Oversee the prepayments of the Agency MBS portfolio by
monitoring actual versus expected prepayments and recommending and
implementing model adjustments.
- Independent lead coverage of the $2.5bn Non-Agency RMBS
portfolio, generate investment ideas and monitor the performance of
the investment results.
- Perform broad surveillance, commentary, and outlook for the
performance of the U.S. Housing market. Maintain updated view on
the regulatory landscape that governs U.S. Housing finance.
- Perform independent credit analysis of transactions in the new
issue and secondary markets. Deliver depth of credit analysis
appropriate to invest across all parts of the capital structure.
This requires extensive due diligence of sponsors, originators,
servicers, and data providers.
- Perform cash flow and structural analysis, validating accuracy
of third-party models. Independently apply and help refine internal
credit rating methodology for each asset class.
- Monitor existing transactions. Set up surveillance models and
monitor deal performance vs. expectations.
- Ensure each step of the investment process for both asset
classes is followed and properly communicated: credit monitoring,
updating forward looking excess return expectation, monitoring of
analytics.
- Develop and maintain presentations and reports for internal
meetings, client interactions and the portfolio management of
securitized credit products.
- Contribute as an active member of the team to help identify
relative value opportunities across the securitized markets and
implement the best trade ideas across all clients'
portfolios.Qualifications & Education Requirements
- BS degree in related field with exceptional academic
achievement required.
- Graduate degree focused in Finance/Economics or CFA designation
strongly preferred.
- 10 plus years of financial services experience.
- 7+ years of experience in the investment management arena with
direct responsibilities in securitized assets.
- Investment experience in Agency MBS and Non-Agency RMBS markets
with a demonstrated history of investing across the capital
structure in a variety of collateral types and structures.
- Deep knowledge of RMBS structures, both cash flows and legal.
Proficient in Intex and proven ability to independently create cash
flow models for complex RMBS transactions. Technical proficiency in
Python, SQL, and Intex API is preferred.
- Strong understanding of optionality inherent in mortgage assets
and ability to consistently evaluate relative value across various
structures and collateral types. Demonstrated proficiency in
relative valuation between the Agency MBS and Non-Agency MBS
markets.
- Self-directed with a strong attention to detail and no
tolerance for errors.
- A personality that thrives in a working environment that is
demanding, informal and team oriented.EEOC and Diversity
StatementLoomis Sayles is deeply committed to building a diverse
and inclusive workforce in which talented individuals can realize
their full potential and contribute to our growth and success.
Please consider applying for this role even if your work history
and skillset doesn't completely match the job description. We
believe creativity, tenacity and humility are as valuable as
specific skills that can be practiced and perfected on the job. We
are an Equal Opportunity Employer and do not discriminate against
any employee or applicant for employment because of race, creed,
color, gender, age, national origin, religion, sexual orientation,
gender identity, status as a veteran, and basis of disability or
any other federal, state or local protected class.
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Keywords: Water Mission, Revere , Senior Analyst Structured Finance, Agency and Non-Agency MBS, Professions , Boston, Massachusetts
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