Quantitative Developer - Securitized Products

Clearwater Analytics (CWAN); New York; Hybrid; USD 156,400 - 210,841; Full time

Benefits offered by this job

RSUs

401K with match

Paid time off

Parental leave

Medical/dental/vision insurance

Job summary

Clearwater Analytics is seeking a Securitized Products Quantitative Developer in NY to build pricing models and risk analytics for ABS, CLO, MBS, and CMBS.

You will implement production-quality Python code, work with clients, and contribute to model development and documentation. The role offers flexible work arrangements and competitive compensation.

Qualifications

• 1–3 years of experience in quantitative development focused on securitized products.
• Strong understanding of deal structures, waterfall logic, credit enhancement, and tranche-level risk.
• Familiarity with prepayment models (PSA/CPR) and credit risk frameworks for ABS/MBS/CMBS/CLO.
• Experience delivering production-quality Python code and collaborating with clients.

Responsibilities

• Develop and maintain pricing libraries for securitized products including ABS, CLO, MBS, CMBS.
• Extend platform frameworks for cash flow generation, prepayment modeling, and tranche analytics.
• Implement and maintain risk analytics for DV01, duration, convexity, spread risk, and scenario testing.
• Produce high-quality documentation for technical and non-technical audiences.

Skills

Python

Structured products

PSA/CPR prepayment models

Production-grade code

Communication

Pricing models

Data sources (Bloomberg)

Tools

Bloomberg

Intex

Trepp

MSCI

Job description

Quantitative Developer - Securitized ProductsClearwater Analytics | Location : NYAbout Clearwater AnalyticsClearwater Analytics is the leading SaaS platform for investment accounting, risk, and performance. We serve some of the world's largest insurance companies, hedge funds, asset managers, and institutional investors. We deliver decision-ready risk analytics that bring clarity and insight to multi-asset portfolios-highlighting exposures, sensitivities, scenarios, and performance drivers.The RoleAs a Securitized Products Quantitative Developer, you will play a critical role within the Quant team, helping to enhance and expand our structured products coverage across ABS, CLO, MBS, CMBS, and related asset classes. You will work closely with cross-functional teams of developers and interact directly with clients to deliver solutions focused on valuation accuracy, risk analytics, and cash flow modeling. Your contributions will drive the continuous improvement of our platform's structured products capabilities - from model development through production deployment.What You'll DoDevelop and maintain pricing libraries and analytical models for securitized products including ABS, CLO, MBS, CMBS, and other structured credit instrumentsBuild, extend, and maintain frameworks within the platform supporting securitized product lifecycle management, including cash flow generation, prepayment modeling, credit enhancement structures, and tranche-level analyticsImplement and maintain risk analytics covering interest rate sensitivities (DV01, duration, convexity), spread risk, scenario analysis, and stress testing across structured product portfoliosDesign and develop models for prepayment, default, and loss severity - calibrated to market conventions and client-specific requirementsIdentify and advocate for new models and design patterns necessary for the continuous improvement of an evolving infrastructure to support all clientsProduce high-quality documentation targeting both technical and non-technical audiences, supporting and expanding engineering solutionsWhat We're Looking For1–3 years of experience in quantitative development with a focus on securitized or structured productsStrong understanding of structured product mechanics - deal structures, waterfall logic, cash flow prioritization, credit enhancement, and tranche-level riskFamiliarity with prepayment models (e.g., PSA, CPR) and credit risk frameworks applicable to ABS, MBS, CMBS, and CLO structuresExperience developing production-quality code, preferably in Python, with a strong software engineering foundationStrong problem-solving and communication skills - ability to convey technical topics clearly to both technical and non-technical audiencesWhat Will Make You Stand OutExperience in a front office or structured products development role supporting valuation, risk analytics, or portfolio analytics for securitized productsHands-on experience building or maintaining pricing and risk systems in a production environmentFamiliarity with relevant market data sources (Bloomberg, Intex, Trepp, MSCI, or similar) and structured product reference dataExperience with interest rate modeling (e.g., Hull-White, short rate models) as it applies to structured product valuationPrior experience working directly with clients to customize platforms, integrate models, or develop technical solutionsWhat We OfferBusiness casual atmosphere in a flexible working environmentTeam-focused culture that promotes innovation and ownershipAccess to cutting-edge investment reporting technology and expertiseDefined and undefined career pathways allowing you to grow your own wayCompetitive medical, dental, vision, and life insurance benefitsMaternity and paternity leavePersonal Time Off and Volunteer Time Off to give back to the communityRSUs as well as employee stock purchase plan and 401K with matchWork from anywhere 3 weeks out of the yearWork from home FridaysSalary Range156,400.00 - 210,841.00 USD AnnualThis is the pay range the Company believes it will pay for this position at the time of this posting. Consistent with applicable law, compensation will be determined based on relevant experience, other job-related qualifications/skills, and geographic location (to account for comparative cost of living). The Company reserves the right to modify this pay range at any time. For this role, benefits include: health/vision/dental insurance, 401(k), PTO, parental leave, and medical leave, STD/LTD insurance benefits. Clearwater Analytics is An Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status, age or any other federally protected class.Salary Range$156,400.00 - $210,841.00This is the pay range the Company believes it will pay for this position at the time of this posting. Consistent with applicable law, compensation will be determined based on relevant experience, other job-related qualifications/skills, and geographic location (to account for comparative cost of living). The Company reserves the right to modify this pay range at any time. For this role, benefits include: health/vision/dental insurance, 401(k), PTO, parental leave, and medical leave, STD/LTD insurance benefits. Clearwater Analytics is An Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status, age or any other federally protected class.