Securitized Products - Agency MBS Analyst

Grow your career with a growing organization

Whether they’re helping people reach their long-term financial goals or providing personal wealth management strategies, every associate contributes to changing the lives of those we serve for the better. When it comes to job satisfaction, that’s hard to beat. And from a personal satisfaction perspective, you’ll enjoy the freedom to support causes that matter to you and experience a truly inclusive work environment. Your future starts now.

The Empower Securitized Products team is responsible for the oversight and management of over $20Bn in US Securitized Products investments, encompassing Agency MBS/CMBS pass-thrus, Non Agency RMBS, CMBS, ABS and CLOs. In this role, you will provide coverage for our agency mortgage investments which consists of roughly $5bn across TBA, Specified Pools, CMOs and CMBS. You will work closely with portfolio managers to identify and execute on investment opportunities in your markets in a manner that is consistent with portfolio needs and risk guidelines. A successful candidate will be a highly organized, detail oriented and self-motivated individual who thrives in a team-based investment environment and will actively contribute to discussions around markets, strategy, risk, relative-value and trade ideas.

What you will do:

• Analyze and evaluate specific investment opportunities in the Agency MBS / CMBS markets and present detailed support for these investments to portfolio managers and the investment team
• Conduct fundamental and technical analysis of the Agency MBS/ CMBS markets, monitoring performance, evaluating relative value across products, structures and coupons and identify opportunities and risks across portfolios
• Have a deep understanding of the drivers of risk and return for these products, including carry, duration, convexity and optionality
• Utilize agency MBS models, having a deep understanding their inputs and drivers, analyze prepayments relative to modeled expectations and make appropriate adjustments
• Monitor existing transactions, set up surveillance models and monitor bond performance vs. expectations
• Oversee all aspects of trading for Agency MBS/CMBS including building allocations, trade execution and ensuring the timeliness, completeness, and accuracy of all trades, while also acting as backup to the non-agency trader
• Utilize trading and portfolio management systems to monitor account positioning across various strategies, recommend and execute trading actions to ensure adherence to various strategy and risk targets
• Communicate directly with broker/dealer counterparties as well as utilize various electronic trading systems
• Cultivate and maintain strong relationships with sell-side coverage
• Assist in the effort to continuously improve the capability and scalability of the team’s investment process

What you will bring:

• A minimum of 3 years of investment experience in the Agency MBS/CMBS markets is required
• Bachelor’s degree in Finance, Economics or another related field. Graduate degrees focused in Finance/Economics or CFA designation are strongly preferred
• Excellent written and verbal communication skills
• A proven ability to organize, process and analyze large data sets and draw well-reasoned conclusions

What will set you apart:

Experience trading derivatives, including futures, swaps and options, for portfolio hedging strategies

Experience using, interpreting and adjusting Bloomberg’s BAM model

Strong technical and quantitative skills (Proficiency in programming languages such as Python/SQL/R is preferred)

***Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment visa at this time, including CPT/OPT.***

What we offer you

We offer an array of diverse and inclusive benefits regardless of where you are in your career. We believe that providing our employees with the means to lead healthy balanced lives results in the best possible work performance.

• Medical, dental, vision and life insurance
• Retirement savings – 401(k) plan with generous company matching contributions (up to 6%), financial advisory services, potential company discretionary contribution, and a broad investment lineup
• Tuition reimbursement up to $5,250/year
• Business-casual environment that includes the option to wear jeans
• Generous paid time off upon hire – including a paid time off program plus ten paid company holidays and three floating holidays each calendar year
• Paid volunteer time — 16 hours per calendar year
• Leave of absence programs – including paid parental leave, paid short- and long-term disability, and Family and Medical Leave (FMLA)
• Business Resource Groups (BRGs) - internal networks that rally around common interest, experiences and identities such as race, ethnicity, gender, ability, military status and sexual orientation. BRGs play a vital role in educating and engaging our people and advancing our business priorities.

Base Salary Range

The salary range above shows the typical minimum to maximum base salary range for this position in the location listed. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation offered may vary from posted hiring range based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.

Equal opportunity employer •  Drug-free workplace

We are an equal opportunity employer with a commitment to diversity.  All individuals, regardless of personal characteristics, are encouraged to apply.  All qualified applicants will receive consideration for employment without regard to age (40 and over), race, color, national origin, ancestry, sex, sexual orientation, gender, gender identity, gender expression, marital status, pregnancy, religion, physical or mental disability, military or veteran status, genetic information, or any other status protected by applicable state or local law. 

***For remote and hybrid positions you will be required to provide reliable high-speed internet with a wired connection as well as a place in your home to work with limited disruption. You must have reliable connectivity from an internet service provider that is fiber, cable or DSL internet. Other necessary computer equipment, will be provided. You may be required to work in the office if you do not have an adequate home work environment and the required internet connection.***

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