PGIM: Executive Director, Mortgage Credit Research (Hybrid/Newark, NJ)

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!  

 

What you will do 

This role is a research position leading the mortgage credit research team within the Securitized Products Research group of PGIM Fixed Income. The successful candidate will work closely with the structured products portfolio managers to formulate mortgage credit related investment strategies and oversee the mortgage credit portfolio. The successful candidate will be responsible  for analyzing transaction collateral, assigning internal credit ratings, reviewing transaction documentation packages, developing and maintaining issuer and complementary creditor partnerships, conducting issuer due diligence as necessary, communicating with investment banking teams,  working closely with portfolio management, in-house counsel, and other internal colleagues to determine investment suitability and relative attractiveness, presenting  to clients and conducting surveillance on existing investments and industry trends.

What you will bring 

• Underwriting public RMBS, mortgage whole loan and mortgage related ABF investment opportunities: developing tools for analyzing residential mortgage credit risk; negotiating document terms with issuers, sponsors, and other transaction parties; determining proprietary credit ratings; performing an ESG review of the issuer and transaction parties and assigning a proprietary ESG Impact score

• Undertaking the ongoing monitoring and analysis of existing positions to assess credit risk, credit ratings stability, cash flow volatility, portfolio positioning and trading opportunities

• Working closely with the structured products portfolio managers on all aspects of mortgage credit sectors: communicating credit and risk/reward opinions; highlighting changing fundamental viewpoints; helping to establish the strategic direction investing in the sector

• Presenting results from transaction-specific and sector-wide analyses to wider internal and external audiences, including portfolio managers and clients

• Maintaining views on industry-wide issues that impact originators, broker/dealers, and investors

• Responsibilities may include monitoring U.S. and global regulatory changes, accounting and capital requirement changes, federal, state, and global lending laws, and any legal precedents

• Building and maintaining relationships with sell side firms and issuers

• Training and development of junior analysts

What will set you apart? 

• BA/BS degree (MBA, MS and/or CFA are pluses)

• Candidate should have a minimum of 10 years of experience in mortgage credit research

• Demonstrated experience in developing and utilizing mortgage models, either independently or in close collaboration with a quantitative modeling team.

• Outstanding performance in prior experience and demonstrated leadership qualities

• Works well as part of a team and enjoys a fast paced, high intensity environment

• Possesses strong communication and presentation skills

• Has a keen interest in capital markets and mortgage credit investments

• Possesses strong attention to detail and possesses excellent creative and technical skills

• Solid capabilities in fixed income mathematics

*PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to