Director, RMBS Trading & Residential Credit Investing
National Life Insurance Company, New York, NY, United States
Director, RMBS Trading & Residential Credit Investing
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.
National Life Group is an investment management firm managing approximately $40+ billion in AUM. We focus on delivering investment results through a rigorous yet collaborative investment process.
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
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.
Compensation & Benefits Base Pay Range . The base pay range for this position is the range National Life reasonably and in good faith expects to pay for the position taking into account various factors. The final salary may be outside of this range based on other reasons and individual circumstances. Additional Compensation and Benefits . The total compensation package for this position may also include a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time‑off benefits such as vacation, sick time, and parental leave), and discretionary annual incentive programs. At‑will employment and wage adjustments reserved. National Life is accepting applications for this role on an ongoing basis and the role remains open until filled.
Salary Pay Range
$176,250 - $258,500 USD
As set forth in National Life Insurance Company’s Equal Employment Opportunity policy, we do not discriminate on the basis of any protected group status under any applicable law.
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National Life Group is an investment management firm managing approximately $40+ billion in AUM. We focus on delivering investment results through a rigorous yet collaborative investment process.
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
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.
Compensation & Benefits Base Pay Range . The base pay range for this position is the range National Life reasonably and in good faith expects to pay for the position taking into account various factors. The final salary may be outside of this range based on other reasons and individual circumstances. Additional Compensation and Benefits . The total compensation package for this position may also include a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time‑off benefits such as vacation, sick time, and parental leave), and discretionary annual incentive programs. At‑will employment and wage adjustments reserved. National Life is accepting applications for this role on an ongoing basis and the role remains open until filled.
Salary Pay Range
$176,250 - $258,500 USD
As set forth in National Life Insurance Company’s Equal Employment Opportunity policy, we do not discriminate on the basis of any protected group status under any applicable law.
#J-18808-Ljbffr