The RoleJob Overview:We are seeking an Associate Portfolio Manager to support the management of portfolios with a focus on non-agency Residential Mortgage-Backed Securities. This individual will work closely with senior portfolio managers and research analysts to help drive and implement investment decisions across a full range of RMBS subsectors on behalf of a range of fixed income mandates at Lord Abbett.
This role is suited for an experienced investor who combines strong analytical capabilities with a growing track record of RMBS portfolio construction, credit risk management, interest rate and convexity management, and security selection alpha. The position offers principal risk-taking responsibility in portfolio construction, risk management, and idea generation within a collaborative, team-oriented environment
We'll trust you to:- Generate recommendations and implement RMBS trades, leveraging research and risk management resources for decision-making across a heterogenous set of mandates
- Collaborate with other portfolio managers, research analysts, and traders to screen and prioritize RMBS with the best risk-adjusted returns
- Monitor portfolio positioning and achieve or maintain desired risk objectives and targets across a range of parameters
- Perform portfolio simulations and projections including excess and total return forecasts
- Opine on relative value within RMBS and maintain documentation supporting investment decisions
- Communicate trade color and commentary to the broader team and department
- Manage trade lifecycles including security setup process, compliance checks, and post trade quality checks for analytical integrity
- Update relevant market data pertaining to valuations, supply, trading activity
- Build and maintain external relationships with trading, banking, and syndicate desks to ensure our team retains top-of-funnel access to opportunities
- Partner with research analysts to incorporate fundamental insights into portfolio decisions
- Stay current on housing market trends, interest rate dynamics, and policy developments impacting residential real estate
- Prepare and communicate investment views and portfolio updates to senior stakeholders
You'll need to have:- 5-10 years of relevant experience in RMBS research, trading, portfolio management, or portfolio construction
- Strong understanding of a wide range of security types within the RMBS landscape
- Exceptional analytical and quantitative skills, with experience in financial modeling and risk analysis, inclusive of duration, convexity, and credit
- Flexibility to think deeply about individual security risk as well as broadly, across securities within a portfolio, and across suites of portfolios
- Familiarity with key drivers of mortgage markets, including prepayments, credit performance, and interest rate sensitivity
- Demonstrated ability to contribute to investment decisions and portfolio outcomes
- Effective communication skills, with the ability to articulate investment views clearly and succinctly
- Detail-oriented with strong organizational skills and the ability to manage multiple priorities
- Collaborative mindset with a proactive approach to problem-solving and idea generation
- Bachelor's degree required; CFA or progress toward the designation preferred
- Proficiency in Excel and familiarity with market analytics tools such as Bloomberg, Intex, or similar platforms preferred
Compensation Information: Annual base salary for this role is $175,000 - $225,000. Salary is estimated for this role. Actual pay may be different.
Discretionary Bonus: Role may be eligible to receive an annual discretionary bonus. Discretionary bonuses are determined by several factors including, but not limited to, firm, team, and individual performance.
Benefits: Lord Abbett is committed to offering a competitive total rewards package to all eligible employees. Offerings include competitive total compensation, retirement plans, competitive health and well-being plans. To learn more about what we offer, please visit Careers | Lord Abbett
