Associate - Portfolio Strategy

Kensington Mortgage Company; Greater London; On-site; GBP 65,000 - 95,000; Full time

Job summary

Kensington Mortgage Company is seeking an analytically minded Associate for the Portfolio Strategy, Credit & Analytics team in London. You will analyse, structure and optimise RMBS and SRT transactions, handling large loan-level datasets and building robust financial models.

Work with senior stakeholders to support capital management, risk optimisation and transaction execution in a fast-paced, highly regulated environment.

Qualifications

• Securitisation, structured finance or capital markets experience with loan-level data
• Knowledge of RMBS and/or SRT structures and transaction mechanics
• Strong quantitative and data-driven decision-making skills
• Experience delivering high-quality analysis within tight deadlines
• Awareness of UK mortgage markets and structured credit products

Responsibilities

• Build and maintain analytical tools and models for RMBS and SRT transactions (cashflow models, asset calculators, sensitivity testing)
• Perform collateral analysis using loan-level mortgage data (stratifications, vintage/cohort, arrears, default and prepayment, loss severity)
• Support transaction execution (collateral analysis, rating agency testing, materials, governance, investor reporting)
• Deliver forecasting and cashflow analysis for transaction economics, hedging and reporting
• Provide portfolio performance monitoring and reporting (actual vs forecast)
• Assist model governance (testing, validation, audit-ready docs)
• Drive automation and tooling improvements (scripting, data processing)
• Collaborate with Kensington Mortgages, Barclays, rating agencies, auditors, investors and banks

Skills

Advanced Excel and VBA

SQL

Python

Automation & scripting

Data analysis & modelling

Tools

Excel

VBA

SQL

Python

Job description

We're looking for an analytically minded Associate to join our Portfolio Strategy, Credit & Analytics team. This is an exciting opportunity to work at the intersection of structured finance, capital management and risk optimisation, supporting both Kensington Mortgages and Barclays. You'll play a key role in analysing and structuring Residential Mortgage-Backed Securities (RMBS) and Significant Risk Transfer (SRT) transactions, helping optimise capital efficiency and manage portfolio risk. Working with large loan-level datasets, sophisticated analytical models and senior stakeholders, you'll contribute directly to major capital markets transactions that support the business's strategic objectives. If you enjoy solving complex analytical problems, building robust financial models and working in a fast-paced environment where your insights drive commercial decisions, we'd love to hear from you. What You'll Be Doing As an Associate within Portfolio Strategy, Credit & Analytics, you'll support the execution and management of RMBS and SRT transactions through detailed analysis, modelling and reporting.,

• Build, maintain and enhance analytical tools and models used to support RMBS and SRT transactions, including cashflow models, asset calculators, sensitivity testing and data processing tools.
• Perform detailed collateral analysis using loan-level mortgage data, including: Portfolio stratifications, Vintage and cohort analysis, Arrears roll-rate analysis, Default and prepayment analysis, Loss severity assessments
• Support transaction execution activities including: Collateral analysis and assessment, Rating agency testing and modelling, Internal and external presentation materials, Audit sign-offs and transaction governance, Investor reporting activities
• Deliver forecasting and cashflow analysis to support transaction economics, hedging considerations and business reporting requirements.
• Provide portfolio performance monitoring and reporting, analysing actual versus forecast performance for closed transactions.
• Support model governance processes, including model testing, validation and maintenance of audit-ready documentation.
• Drive improvements in automation, controls and efficiency through enhanced tooling, scripting and data processing solutions.
• Collaborate with stakeholders across Kensington Mortgages, Barclays, rating agencies, auditors, investors and arranging banks., Work on high-profile capital markets transactions
• Gain exposure to both Kensington Mortgages and Barclays
• Collaborate with experienced professionals across structured finance, treasury, risk and capital management
• Develop your technical, analytical and commercial expertise in a dynamic, highly regulated environment
• Play a key role in supporting strategic capital management and transaction execution

We're seeking someone with experience in a structured finance, securitisation or capital markets environment who combines strong analytical capability with excellent attention to detail.

Essential Experience & Knowledge

• Previous experience within securitisation, structured finance, credit analytics, capital markets, a rating agency, specialist advisory firm or banking environment. Experience working with loan-level mortgage or asset-backed data.
• Understanding of RMBS and/or SRT structures and transaction mechanics.
• Knowledge of: Cashflow waterfalls, Credit enhancement calculations, Transaction triggers, Hedging mechanics, Closing cashflow computations, Structured credit fundamentals
• Awareness of UK mortgage markets, structured credit products and capital markets.
• Experience delivering high-quality analysis within tight deadlines and live transaction environments.

Technical Skills

You’ll bring strong quantitative skills and a passion for data-driven decision making.

Required

• Advanced Excel and VBA skills
• Strong data analysis and modelling capability
• Experience working with large datasets and reconciling complex data sources
• Ability to produce well-controlled, documented and testable analytical outputs
• SQL
• Python
• Automation and scripting experience
• Experience developing production-quality analytical tools

We're looking for someone who can combine technical excellence with strong communication skills and a governance-focused mindset.

You’ll be able to:

• Translate complex analysis into clear business insights
• Communicate effectively with both technical and non-technical stakeholders
• Produce high-quality written materials for committees and senior management
• Work effectively under pressure and manage competing priorities
• Maintain a strong focus on accuracy, controls and governance
• Identify and mitigate risks in day-to-day activities