The RoleJob Overview:We are seeking a Research Analyst to support fundamental research coverage within the non-agency residential mortgage sector. This individual will focus on evaluating RMBS, loan portfolios, originators, bond issuers, and housing and consumer market dynamics across the full range of the residential mortgage credit ecosystem, to drive investment alpha in residential mortgage credit across a range of investment mandates.
This role requires a seasoned professional with deep industry expertise, strong investment judgement, and experience measuring and valuing mortgage credit risk in a variety of interest rate and credit environments. The position will play a central role in shaping portfolio positioning, governing our research processes, navigating investment complexity, leadership of other investment professionals, and serving as a key thought partner to internal and external stakeholders.
We'll trust you to:- Lead research across the RMBS space for Lord Abbett's fixed income department, with a focus on delivering enhanced returns to our investors relative to pertinent yield or benchmark objectives
- Maintain robust cash flow modeling infrastructure via a mix of internal and third-party tools to ensure analytic accuracy, including duration, convexity, and other key risk factors
- Create and maintain infrastructure and systems for generating repeatable alpha.
- Have a strong grasp of foundational principles of mortgage investing, and a process of valuing and isolating alpha, across collateral credit risk, related party risk, prepayment risk, structural risk, and other factors
- Conduct detailed fundamental analysis of residential real estate issuers, including REITs, homebuilders, and housing-related structured products
- Build and maintain financial models, including cash flow projections, margin analysis, and valuation frameworks
- Analyze key housing market drivers such as supply/demand dynamics, affordability, demographic trends, and interest rate impacts
- Develop and articulate investment views supported by both company-specific and macro housing insights
- Monitor existing holdings and provide ongoing surveillance, identifying risks, opportunities, and potential catalysts
- Prepare clear, concise research reports and present findings to portfolio managers and senior analysts
- Engage with management teams, industry participants, and data providers to develop differentiated perspectives
- Collaborate with traders, portfolio managers, and other sector analysts to support investment decisions and portfolio construction
- Contribute to team knowledge sharing and help mentor/support junior analysts as appropriate
You'll need to have:- 12+ years of relevant experience in residential mortgage credit or non-agency RMBS
- Tools for managing and processing loan level data to conduct surveillance and value collateral pools
- Experience managing and vetting quantitative models, liaising with quantitative analysts, and managing myriad interest rate and credit risks related to RMBS and mortgage investments
- Expert grasp of residential real estate fundamentals, including housing cycles, affordability metrics, and regional market dynamics
- Ability to synthesize macroeconomic trends and translate them into actionable investment insights.
- A proven ability to solve problems creatively, while working collaboratively, with cross functional internal and external stakeholders
- Effective written and verbal communication skills, with the ability to present ideas clearly and concisely
- Strong attention to detail, organization, and ability to manage multiple priorities
- Collaborative mindset with a proactive, intellectually curious approach
- Bachelor's degree required; advanced degree and/or professional certifications (e.g., CFA) preferred
- Familiarity with industry data platforms and artificial intelligence tools to enhance the research process
Compensation Information: Annual base salary for this role is $200,000 - $250,000. 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
