Securitized Products Credit Analyst (ABS/RMBS)
PRIMARY PURPOSE OF THE POSITION
The position will be responsible for analyzing and developing credit opinions on securitized transactions, with a primary focus on Asset-Backed (ABS) and Residential Mortgage-Backed Securities (RMBS). The position will require analysis of financial, consumer and property market fundamentals, security level cash flows, ongoing security surveillance, the assignment of credit ratings, and trade recommendations that benefit T. Rowe Price portfolios. The analyst will be an integral part of the Securitized Products team at T. Rowe Price.
1. Analyze and evaluate investment opportunities across the ABS and RMBS universe.
2. Analyze and recommend potential purchases and sales of securitized products securities to enhance portfolio performance. Conduct fundamental sector, market and security analysis, and combine relative value and strategy considerations in sector and security recommendations.
3. Analyze fundamental market developments in the residential real estate and mortgage lending markets, including underwriting standards, mortgage prepayment and default forecasting, property market trends, and their impact on security and sector performance. Also analyze developments in consumer finance and lending markets, such as automotive finance, credit cards, whole business finance and student lending.
4. Communicate and collaborate with various internal and external parties to develop well-researched, sound investment recommendations and sector theses. This position will interact most directly with internal peers who also cover ABS and RMBS. The role will also interact with Rating Agency analysts, external sector experts, T. Rowe Price Portfolio Managers, Equity and Credit analysts, and Quantitative analysts, among others.
- College degree with concentration in business, finance, or economics.
- Three years of direct investment experience or an MBA degree.
- Experience developing and maintaining reports and data.
- Basic understanding of financial accounting, derivatives markets and computer skills.
- Experience using Intex and Bloomberg.
- Strong written and oral communication skills.
- Strong decision-making and risk management background.
- Strong analytical skills.
- Direct experience with ABS and/or RMBS products.
- Collaborative, inquisitive and detail-oriented personality.
- Knowledge of other securitized credit sectors.
- Advanced business degree is a plus.
- Chartered Financial Analyst designation strongly preferred.