PGIM Credit, Sr Associate RMBS Research

PGIM Ireland; Newark (NJ); Hybrid; USD 145,000 - 155,000; Full time

Benefits offered by this job

Medical, dental, vision

401(k) plan with company match

Pension plan

Wellness programs

Employee stock purchase plan

Job summary

PGIM is seeking an Investment Management professional to analyze RMBS, mortgage whole loans, and private ABF investments within a securitized products framework. You will collaborate with portfolio managers, contribute to investment views, and support due diligence with internal and external market participants.

The role emphasizes analytical rigour, quantitative modeling, and cross-team collaboration across RMBS, housing markets, and macro trends.

Qualifications

• Bachelor’s degree required with 4–7 years in fixed income, securitized products or RMBS research.
• Strong analytical and quantitative skills; experience with RMBS or residential mortgage products preferred.
• Proficiency in Excel; experience handling large datasets required.

Responsibilities

• Analyze RMBS transactions across new issue and secondary markets, including collateral features and credit characteristics.
• Develop internal credit views and relative value assessments for RMBS sectors.
• Build scenario analyses to test bond performance under various collateral and price assumptions.
• Monitor portfolio holdings and market developments to identify shifts in risk and return.

Skills

RMBS analysis

Fixed income

Securitized products

Intex modeling

Excel

Python

SQL

Power BI

Tableau

Education

Bachelor’s degree

Tools

Intex

Python

SQL

Power BI

Tableau

Job description

Job Classification: Investment Management - Investments A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE As the Global Asset Management business of Prudential, we’re always looking for ways to improve financial services. We’re passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world. We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading global asset managers! If you’re not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that’s investing in your future by shaping tomorrow today. At PGIM, You Can!

What you can expect:

A research position within the Securitized Products group of PGIM Credit that will focus on RMBS strategies. The successful candidate will work closely with portfolio management teams to analyze RMBS, mortgage whole loan, and private ABF investments, monitor portfolio positions, and contribute to investment decision-making. Responsibilities include analyzing RMBS collateral, conducting surveillance on existing investments, assigning and maintaining internal credit ratings, and evaluating relative value opportunities. The role also involves assessing RMBS issuers, integrating macroeconomic and sector trends, and contributing to investment strategy and portfolio positioning. The candidate will collaborate with internal teams and external market participants including investment banks, rating agencies, and trustees, to support due diligence, transaction execution, and ongoing market insight.

What you will do:

• Analyze RMBS transactions across new issue and secondary markets, including collateral characteristics, loan underwriting trends, servicer performance, credit enhancement, and structural features.
• Develop and maintain internal credit views and relative value assessments for RMBS sectors such as non-QM, CRT, jumbo, HELOC, other residential mortgage-related products.
• Build scenario analyses to assess bond performance under varying collateral and home price assumptions.
• Monitor portfolio holdings and market developments, identifying changes in collateral behavior, housing market fundamentals, consumer performance, and regulatory developments that may affect risk and return.
• Partner with portfolio managers and other research teams to formulate investment recommendations across RMBS, mortgage whole loans, and private ABF investments.
• Review transaction documents, third-party reports, and legal structures to evaluate protections, triggers, representations and warranties, and other deal-specific considerations.
• Engage with issuers, dealers, servicers and other market participants to deepen market insight and support due diligence.
• Collaborate with internal quantitative modeling and technology teams to enhance analytics capabilities and infrastructure.
• Contribute internal presentations and client-facing materials on RMBS market themes and portfolio positioning.

What you will bring:

Bachelor’s degree required 4-7 years of relevant experience in fixed income, securitized products, mortgage finance, or securitized products research, with meaningful exposure to RMBS or related residential mortgage products. Strong analytical and quantitative skills. Experience with Intex and structured finance modeling are preferred. Exposure to residential mortgage collateral, securitization structures, cash flow analysis, and key drivers of RMBS performance are preferred. Proficiency in Excel and some experience working with large datasets is required.

What will set you apart:

• Programming and data visualization skills (e.g., Python, SQL, Power BI, Tableau) are preferred.
• Strong attention to detail and ability to manage multiple assignments in a fast‑paced environment.
• Excellent communication and presentation skills, with the ability to articulate investment views clearly.
• Ability to work independently and collaboratively across teams.
• Intellectual curiosity and strong interest in RMBS and housing markets.

Salary:

Prudential is required by state-specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $145,000 to $155,000. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.

What we offer you:

• Market competitive base salaries, with a yearly bonus potential at every level.
• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
• 401(k) plan with company match (up to 4%).
• Company‑funded pension plan.
• Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
• Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
• Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
• Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period).
• Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance.
• Some of the above benefits may not apply to part‑time employees scheduled to work less than 20 hours per week.

Hybrid Work:

PGIM believes in the Power of a Hybrid work arrangement. The Power of Hybrid is both the flexibility of work from home, as well as the networking and career development of in‑person work with colleagues through three weekly anchor days.

Equal Opportunity and Inclusion:

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status, medical condition or any other characteristic protected by law.

To maintain the integrity and security of our hiring process, Prudential may use identity verification technologies. Your consent will be obtained before any verification takes place. If you need an accommodation to complete the application process, please email [e-mail]. If you are experiencing a technical issue with your application or an assessment, please email [e-mail] to request assistance.

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.4 trillion in assets under management as of Dec. 31, 2023, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for 150 years. For more information please visit news.prudential.com.

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), is a global investment manager with US $1.3 trillion in assets under management as of Dec. 31, 2023. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate, and alternatives. For more information about PGIM, visit pgim.com.

PGIM Inc. (PGIM) is the principal asset management business of Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States. PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. Our Commitment to an Inclusive Workplace Prudential Financial, Inc. serves its customers in more than 40 countries and territories, and we seek talented, creative individuals from a variety of backgrounds, worldviews, and life circumstances to work with us. We are focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference— we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.

PGIM Inc. (PGIM) is the principal asset management business of Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States. PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. Our Commitment to an Inclusive Workplace Prudential Financial, Inc. serves its customers in more than 40 countries and territories, and we seek talented, creative individuals from a variety of backgrounds, worldviews, and life circumstances to work with us. We are focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference— we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.