Fixed Income: Head of Mortgage Credit Research; Hybrid​/Newark, NJ

Position: PGIM Fixed Income: Head of Mortgage Credit Research (Hybrid/Newark, NJ)
PGIM Fixed Income:
Head of Mortgage Credit Research (Hybrid/Newark, NJ)

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Head of Mortgage Credit Research (Hybrid/Newark, NJ) role  are looking for a seasoned mortgage credit research leader to drive strategy and oversight for our structured product teams.

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.

Responsibilities include:

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 apply.

Note

Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The annual base salary range for this role is from $200,000 to $225,000. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.

What we offer you

• Market competitive base salaries, with a yearly bonus potential at every level.

• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.

• 401(k) plan with company match…