Director, RMBS Trading & Residential Credit Investing
National Life Group, Addison, TX, United States
Overview
Come join one of America’s fastest-growing insurance companies. Since 1848, National Life Group has aimed to keep our promises, providing families with stability in good times and in bad. Our mission extends beyond the insurance and annuities policies that we offer. We strive to make the world a better place through our grants from our charitable foundation, paid volunteer time for our employees, environmentally sustainable and healthy workplaces, and events that promote the work of nonprofits in our own backyard. We foster a collaborative environment with opportunities for growth and encourage our associates to live our values: Do good. Be good. Make good.
About Us: NLG Capital, the investment management company of NLG, manages approximately $40+ billion in AUM. Our purpose is simple – to allow NLG to keep its promises. How we do this – an obsessive focus on delivering investment results. We drive results through a rigorous but collaborative investment process, and we hold ourselves to the highest of standards, both as investors and teammates. Our culture is built on Meritocracy, Uncompromising Transparency, Intellectual Honesty, Performance Driven Learning, and Relentless Pursuit of Excellence. Our team emphasizes curiosity, learning, and growth, with a flat and collaborative structure that rewards the best ideas.
Please note that we do not offer visa sponsorship for this position.
Position Overview The Director of RMBS Trading & Residential Credit Investing is responsible for leading residential mortgage-backed securities (RMBS) trading, whole loan trading, and private residential credit investment initiatives. This role oversees portfolio management, sourcing, pricing, structuring, and execution across a broad range of residential credit asset classes. The Director drives relative value analysis, develops proprietary analytical tools, manages junior team members, and partners cross-functionally to deliver attractive risk-adjusted returns.
Key Responsibilities RMBS Trading & Portfolio Management
Manage and actively trade multi-sector RMBS portfolio, including agency, non-agency, CRT, NPL/RPL, and other structured credit subsectors.
Conduct relative value analysis, performance surveillance, and risk monitoring across holdings.
Source and evaluate market opportunities, maintaining relationships with buy-side and sell-side counterparties.
Develop and enhance internal pricing models and analytical frameworks to support trading decisions.
Oversee portfolio analytics, scenario analysis, and performance attribution.
Build loan-level pricing models incorporating prepayment, default, severity, and rate assumptions.
Manage and mentor junior team members responsible for modeling and portfolio surveillance.
Manage acquisition and disposition of whole loan asset classes.
Coordinate transaction execution with legal, transaction management, counterparties, and servicers.
Prepare and present detailed investment committee memoranda outlining return expectations, risk factors, and sensitivities.
Risk Analytics & Process Development
Design and implement robust portfolio monitoring and delinquency tracking frameworks.
Develop expected loss modeling and pricing optimization tools.
Collaborate with middle and back-office teams to design underwriting and operational processes.
Qualifications
Bachelor’s degree in Economics, Finance, Mathematics, Statistics, or related quantitative field; strong academic record required.
7+ years of experience in RMBS trading, whole loan trading, residential credit investing, structured products, or mortgage analytics.
Deep knowledge of residential mortgage products, securitization structures, and credit performance drivers.
Strong financial modeling skills (loan-level cash flow modeling, scenario analysis, yield and spread analysis).
Experience presenting investments to Investment Committees.
Demonstrated ability to manage portfolios and drive P&L performance.
Strong negotiation and cross-functional collaboration skills.
Prior team leadership or analyst management experience preferred.
Benefits and Compensation
Your benefits start day one and are flexible and customizable to your and your family’s specific needs.
Base Pay Range: $176,250 - $258,500 USD. Final salary may vary based on experience, education, and other factors.
Additional compensation and benefits may include medical, retirement plans (e.g., 401(k)), paid time off, and discretionary incentive programs.
National Life is accepting applications for this role on an ongoing basis and the role remains open until filled.
National Life Group is a trade name of National Life Insurance Company, Montpelier, VT; Life Insurance Company of the Southwest, Addison, TX; and their affiliates. Each company is solely responsible for its own financial condition and obligations. Site policies and address details are provided for informational purposes.
#J-18808-Ljbffr
About Us: NLG Capital, the investment management company of NLG, manages approximately $40+ billion in AUM. Our purpose is simple – to allow NLG to keep its promises. How we do this – an obsessive focus on delivering investment results. We drive results through a rigorous but collaborative investment process, and we hold ourselves to the highest of standards, both as investors and teammates. Our culture is built on Meritocracy, Uncompromising Transparency, Intellectual Honesty, Performance Driven Learning, and Relentless Pursuit of Excellence. Our team emphasizes curiosity, learning, and growth, with a flat and collaborative structure that rewards the best ideas.
Please note that we do not offer visa sponsorship for this position.
Position Overview The Director of RMBS Trading & Residential Credit Investing is responsible for leading residential mortgage-backed securities (RMBS) trading, whole loan trading, and private residential credit investment initiatives. This role oversees portfolio management, sourcing, pricing, structuring, and execution across a broad range of residential credit asset classes. The Director drives relative value analysis, develops proprietary analytical tools, manages junior team members, and partners cross-functionally to deliver attractive risk-adjusted returns.
Key Responsibilities RMBS Trading & Portfolio Management
Manage and actively trade multi-sector RMBS portfolio, including agency, non-agency, CRT, NPL/RPL, and other structured credit subsectors.
Conduct relative value analysis, performance surveillance, and risk monitoring across holdings.
Source and evaluate market opportunities, maintaining relationships with buy-side and sell-side counterparties.
Develop and enhance internal pricing models and analytical frameworks to support trading decisions.
Oversee portfolio analytics, scenario analysis, and performance attribution.
Build loan-level pricing models incorporating prepayment, default, severity, and rate assumptions.
Manage and mentor junior team members responsible for modeling and portfolio surveillance.
Manage acquisition and disposition of whole loan asset classes.
Coordinate transaction execution with legal, transaction management, counterparties, and servicers.
Prepare and present detailed investment committee memoranda outlining return expectations, risk factors, and sensitivities.
Risk Analytics & Process Development
Design and implement robust portfolio monitoring and delinquency tracking frameworks.
Develop expected loss modeling and pricing optimization tools.
Collaborate with middle and back-office teams to design underwriting and operational processes.
Qualifications
Bachelor’s degree in Economics, Finance, Mathematics, Statistics, or related quantitative field; strong academic record required.
7+ years of experience in RMBS trading, whole loan trading, residential credit investing, structured products, or mortgage analytics.
Deep knowledge of residential mortgage products, securitization structures, and credit performance drivers.
Strong financial modeling skills (loan-level cash flow modeling, scenario analysis, yield and spread analysis).
Experience presenting investments to Investment Committees.
Demonstrated ability to manage portfolios and drive P&L performance.
Strong negotiation and cross-functional collaboration skills.
Prior team leadership or analyst management experience preferred.
Benefits and Compensation
Your benefits start day one and are flexible and customizable to your and your family’s specific needs.
Base Pay Range: $176,250 - $258,500 USD. Final salary may vary based on experience, education, and other factors.
Additional compensation and benefits may include medical, retirement plans (e.g., 401(k)), paid time off, and discretionary incentive programs.
National Life is accepting applications for this role on an ongoing basis and the role remains open until filled.
National Life Group is a trade name of National Life Insurance Company, Montpelier, VT; Life Insurance Company of the Southwest, Addison, TX; and their affiliates. Each company is solely responsible for its own financial condition and obligations. Site policies and address details are provided for informational purposes.
#J-18808-Ljbffr