Structured Credit Analyst-Residential Mortgage-Backed Securities (RMBS)

Description:

Weitz Investment Management currently offers a hybrid work environment (2-days remote/3-days onsite) for this position.

We are seeking a mid-level Structured Credit Analyst to join our Fixed Income and Structured Products team, with a specialized focus on Residential Mortgage-Backed Securities (RMBS). The individual will participate in the process of sourcing, evaluating, and modeling fixed income investment opportunities for the firm’s fixed income strategies, to include both legacy and new issue RMBS (non-agency, CRT, re-performing/NPLs, Non-QM, and esoteric structures. The position will include credit research, modeling and trading, assist in the advancement of potential investment opportunities, and help deliver strong risk-adjusted returns to our clients. This position will support and participate in the success of our investment team. This individual will have a strong background in modeling and analyzing cashflows and capital structures, and who is looking to deepen their impact by supporting portfolio managers with actionable investment ideas, risk surveillance, and relative value insights.

Essential Functions

• Perform rigorous bottom-up fundamental and structural analysis on a wide range of RMBS products, including: Legacy senior and mezzanine bonds, Non-QM and RPL/NPL deals, CRT (Credit Risk Transfer) securities, 2nd lien, HELOC, Excess Servicing, IO/PO tranches, and Residual/NIM and Re-REMIC structures
• Analyze deal structure, waterfall, triggers, and prepayment behavior
• Evaluate servicer and collateral performance; monitor key risk metrics (e.g., CPR, CDR, severity, delinquency trends)
• Provide research and investment write-ups on RMBS opportunities
• Develop and maintain surveillance tools and relative value dashboards
• Support portfolio managers in security selection, allocation strategy, and monitoring of existing holdings
• Build and maintain cash flow scenarios, run sensitivity analysis, and stress test outcomes under varying macroeconomic conditions
• Leverage proprietary models and external vendor tools to analyze valuation and relative value spread positioning.
• Construct scenario-based analytics to evaluate upside/downside risks across capital structures
• Demonstrates an ability to evaluate the entire capital structure and communicate the strengths and potential pitfalls of an investment idea and actively participates in group discussions to generate value-added ideas.
• Build internal and external relationships with colleagues, sell-side traders and bankers, rating agencies, issuers, industry experts and other sources to collect additional insights on market, industry, asset class and issuer credit developments.
• Work closely with senior PMs and other members of the fixed income team to align on portfolio strategy and positioning
• Partner with operations, compliance, and technology teams to ensure accurate implementation of trade ideas and monitoring systems.

About Weitz Investment Management

Founded by value investor Wally Weitz in 1983, Weitz Investment Management, Inc. is a boutique, employee -owned asset management firm headquartered in Omaha, Nebraska. Over the past four decades, Weitz has leveraged its research-driven approach to capitalize on opportunities that arise out of market inefficiencies. Decisions are backed by thorough research, Iogical strategies, extensive debate and our team's personal commitment to long-term results. The Weitz team builds and manages concentrated, high-conviction, actively managed portfolios. Through bottom-up, proprietary research that emphasizes fundamentals, we focus on creating positive results over the long term. We offer a variety of options for investors with different goals and preferences, including equity and fixed income investment strategies.

We offer all employees competitive compensation and benefits including medical, dental and vision coverage, as well as parental leave, paid time off, on-site gym access, and a very generous qualified profit sharing plan. Weitz offers a hybrid work environment (2-days remote/3-days onsite). Compensation includes salary and bonus and will be commensurate with experience.

Requirements:

• Must have 3+ years of experience in structured finance, preferably with a focus on RMBS sectors at a buy-side firm, sell-side research desk, or securitized products group.
• Hands-on experience analyzing non-agency RMBS deals across legacy, Non-QM, and CRT subsectors.
• A passion for investing, high degree of curiosity, and drive for continuous improvement
• A desire to work in a collaborative team-oriented environment and openness to discussing, sharing and debating investment ideas
• Strong understanding and ability to work in Microsoft Excel, and Bloomberg
• Strong understanding of RMBS deal documentation, cashflow modeling, and loan-level performance analytics
• Knowledge of securitization frameworks including REMIC, Re-REMIC, and key credit enhancement features
• Strong oral and written communication skills
• Bachelor’s degree in a quantitative, analytical, or finance-related field (Engineering, Math, Economics, Finance). CFA designation or active progress toward the charter preferred.
• Sound ethics and integrity
• Ability and willingness to travel in support of essential functions listed above