Senior Investment Analyst – Securitized Products

Our vision for the future is based on the idea that transforming financial lives starts by giving our people the freedom to transform their own. We have a flexible work environment, and fluid career paths. We not only encourage but celebrate internal mobility. We also recognize the importance of purpose, well-being, and work-life balance. Within Empower and our communities, we work hard to create a welcoming and inclusive environment, and our associates dedicate thousands of hours to volunteering for causes that matter most to them.

Chart your own path and grow your career while helping more customers achieve financial freedom. Empower Yourself.

We are seeking a highly motivated Senior Analyst to join our Securitized Products investment team, with a focus on non-agency Residential Mortgage-Backed Securities (RMBS) and Commercial Mortgage-Backed Securities (CMBS). The successful candidate will play a key role in the active management of a multi-billion dollar portfolio of agency and non-agency securitized products, contributing to trade strategy, security selection, and risk oversight across institutional and general account mandates.

What you will do:

• Monitor primary and secondary markets and identify, analyze and recommend investment grade rated CMBS and RMBS securities (i.e. Conduit CMBS, SASB, Non-QM, Prime, CRT etc.) for inclusion in our general account as well as various separate account and mutual fund strategies
• Collaborate with portfolio managers to shape sector-level positioning and portfolio construction decisions
• Prepare credit reviews for new investment opportunities that include collateral and structural analysis, scenario testing to identify and evaluate key risks and mitigants, and an assessment of relative value
• Perform ongoing surveillance and scenario analysis on existing holdings, ensuring timely identification of material changes in credit performance. Provide proactive updates and recommendations when deterioration or improvement in credit fundamentals is observed
• Develop and maintain models for prepayment, credit loss and valuation forecasting
• Utilize trading and portfolio management systems to monitor positioning and compliance and recommend trading actions that align with portfolio needs and risk targets, as determined by the portfolio manager
• Collaborate with internal stakeholders including portfolio managers, risk management, compliance and operations
• Conduct reviews as prescribed by the group's portfolio monitoring guidelines and maintain a database for the group's monitoring history
• Maintain strict compliance with all investment policies and company specific guidelines
• Assist in the effort to continuously improve the depth, quality and scalability of the team’s investment process

What you will bring:

• Minimum of 5 years of hands-on experience analyzing securitized products—ideally in a buy-side, sell-side, or rating agency role with exposure to RMBS and/or CMBS
• Deep understanding of residential and/or commercial mortgage credit fundamentals, securitization structures, and deal-level bond modeling
• Proven experience in designing and refining surveillance frameworks, with a track record of building or enhancing analytical tools for monitoring complex securitizations
• Proficiency with Intex, Bloomberg, and CoStar; capable of leveraging market tools to support investment theses and portfolio surveillance
• Advanced Excel skills, with working knowledge of Python, SQL, or VBA for building analytical models or automating processes
• Ability to articulate complex investment theses clearly and persuasively, both in writing and in presentations to stakeholders
• Bachelor’s degree in Finance, Economics, Math, Engineering, or a related field; CFA designation or meaningful progress toward completion is preferred

What will set you apart:

• Intellectual curiosity and a passion for markets, with a collaborative mindset and proactive approach to problem-solving
• Experience working within insurance portfolios or understanding of NAIC/ALM frameworks
• Strong organizational skills and ability to manage multiple priorities in a fast-paced environment

***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