Analyst Structured Finance, Non-Agency RMBS

About the Role

The Mortgage and Structured Finance (MSF) team has an opportunity for an analyst to join its 20-person team. This position will report to the Head of Mortgage and Structured Finance. The analyst will primarily focus on a broad range of research activities in the Non-Agency Mortgage-Backed Securities markets under the direction of the Head of MSF and the RMBS sector portfolio manager. The position will focus primarily in the liquid RMBS space and will assist in the potential expansion into whole loan and private RMBS transactions. The analyst will also contribute to the overall development of the proprietary data management infrastructure that supports the investment activities of the entire MSF team. The analyst will be responsible for refining and contributing to the investment approach and will over time be responsible for generating ideas independently and implementing them.

About the Team

The team is responsible for the firm’s research and investment activities across the global securitized universe, overseeing a portfolio of $46.8 bn in assets as of June 30th, 2025. The portfolio encompasses Agency MBS/CMBS pass-thrus and derivatives, Non-Agency RMBS, CMBS, ABS, and CLOs. The team has a 10+ year track record generating strong risk-adjusted returns across four dedicated strategies spanning from pure agency MBS to deep credit structured finance.

Job Responsibilities

• Support coverage of public and private Non-Agency RMBS, generate investment ideas and monitor the performance of the investment results.
• Perform broad surveillance, commentary, and contribute to the outlook for the performance of the U.S. Housing market. Maintain updated view on the regulatory landscape that governs U.S. Housing finance.
• Support and over time lead credit analysis of transactions in the new issue and secondary markets. Support delivery of credit analysis appropriate to invest across all parts of the capital structure. This requires extensive due diligence of sponsors, originators, servicers, and data providers.
• Perform cash flow and structural analysis, validating accuracy of third-party models. Independently apply and help refine internal credit rating methodology for each asset class.
• Monitor existing transactions. Set up surveillance models and monitor deal performance vs. expectations.
• Ensure each step of the investment process is followed and properly communicated: credit monitoring, updating forward looking excess return expectation, monitoring of analytics.
• Develop and maintain presentations and reports for internal meetings, client interactions and the portfolio management of securitized credit products.
• Contribute as an active member of the team to help identify relative value opportunities across the securitized markets and implement the best trade ideas across all clients' portfolios.

Qualifications & Education Requirements

• BS degree in related field with exceptional academic achievement required
• 6+ years of financial services experience
• 3+ years of experience in the investment management arena with direct responsibilities in securitized assets. Investment experience in Non-Agency RMBS markets in a variety of collateral types and structures.
• Knowledge of RMBS structures, both cash flows and legal. Proficient in Intex and proven ability to independently create cash flow models for complex RMBS transactions. Technical proficiency in Python, SQL, and Intex API is preferred.
• Understanding of optionality inherent in mortgage assets and ability to consistently evaluate relative value across various structures and collateral types.
• Self-directed with a strong attention to detail and no tolerance for errors.
• A personality that thrives in a working environment that is demanding, informal and team oriented.

Loomis Sayles is committed to offering competitive and equitable compensation. The salary range for this position is $100,000 - $160,000 USD. Your starting salary will be based on your experience, skills, qualifications and local benchmarking. This position is also eligible for a discretionary annual incentive award, which is based on individual and company performance. In addition to your compensation, you will have access to a comprehensive benefits package designed to support your health, well-being and financial security.

Global Benefit Statement

At Loomis Sayles, we believe benefits should empower our employees to thrive — at work and beyond. To attract and retain diverse talent worldwide, we are committed to offering comprehensive, competitive benefits that support your well-being, your family and your future. Designed with both local and global needs in mind, our benefits ensure that wherever you work, you have the support and resources to succeed.

Core Global Benefit Offerings

• Health & Welfare: Medical, dental, and supplemental health plans
• Retirement Savings
• Paid Time Off
• Company-Provided Leave Benefits
• Life and Disability Insurance
• Work/Life and Wellness Resources
• Locally Relevant Perks and Programs