The role of the Structured Products CRE Senior Analyst is to spearhead credit research support for the CRE/CMBS investment efforts in SSGA's Fixed Income, Cash & Currency (FICC) department. The Senior Analyst is part of the [Structured Products Credit Research team] supporting the US CRE/CMBS investment processes for FICC Active portfolio managers in Boston and Stamford with fundamental credit opinions and analyses. The existing surveillance infrastructure, as well as the policies and procedures established by the Cash Credit Research team, will be utilized to support the analyst.
- Subject matter expert on Commercial Real Estate Debt and CMBS in Fixed Income
- Create strong relationships with Wall Street Research Strategists and the CMBS analysts at the rating agencies
- Review new CMBS deals to determine suitability for any of the managed portfolios. Make purchase and sale recommendations based on credit profile
- Perform a qualitative and quantitative analysis of the underlying loans in CMBS bonds available in the secondary markets and make recommendations on those suitable for the various portfolios
- Synthesize real estate market conditions to create/update base, stress, and other scenarios to analyze the CMBS securities in order to generate cash flows to test for potential impairments and identify potential risks or trading opportunities
- Lead role in the ongoing portfolio analysis and monthly surveillance of CMBS holdings in Active Fixed Income funds and in the insurance portfolios
- Train/mentor new CMBS analysts
- Minimum ten years of experience in real estate and/or structured products with emphasis on CMBS
- CFA and/or MBA required
- Thorough understanding of the structural nuances that govern the securitization is necessary
- Ability to work under pressure
- Ability to incorporate multiple risk profiles when making investment recommendations
- Proficiency with the Trepp CRE/CMBS modeling and solutions platform a must
- Proficiency with EXCEL
Standard Daily Schedule:
- Daily/morning review (if applicable) of new issue and secondary market opportunities for CMBS investments.
- Collaborate with portfolio managers to recommend sales and portfolio re-balancing, as appropriate.
- Daily review of rating changes in existing book of investments
- Utilize existing suite of tools to assess CMBS investment opportunities: Proprietary (excel-based) New Issue Stress Model, Trepp, and CMBS Investment Review Template.
- Discuss ongoing surveillance of existing portfolio holdings, on as-needed basis.
$125,000 - $200,000 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.