Assistant Vice President, Senior Structured Products Analyst & Trader
Employment Type: Full-Time
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Do you have a passion for investment management? Are you a trader looking for your next challenge? Symetra has a great opportunity to join our Investment Management team in Farmington, CT as an Associate Vice President, Senior Structured Products Analyst & Trader.
About the role
In this role you'll join our team responsible for the analysis and trading of internally managed structured finance securities including Asset Backed Securities, Agency Mortgage Backed Securities, Agency Commercial Mortgage Backed Securities, and Collateral Loan Obligations.
Additionally the team monitors and keeps surveillance of structured finance securities managed by external advisors (non-agency Residential Mortgage Backed Securities, non-agency Commercial Mortgage Backed Securities and Collateral Loan Obligations). This analysis and surveillance includes credit and structural analysis, prepayment modeling, quantitative modeling and screening of individual securities, analysis of risk and portfolio concentrations, and overall monitoring of market fundamentals and technicals.
While this group is highly collaborative and is jointly responsible for the overall structured finance portfolio, it is anticipated you will be the day-to-day lead on one or more of the above subsectors while assisting with analysis in the others. There is the potential for this role to become a management role with one or more direct reports.
Analysis, monitoring, and trading of some of the internally-managed structured finance securities, such as various types of Asset Backed Securities, agency Mortgage Backed Securities, and Collateral Loan Obligations. Monitoring existing positions to ensure continued creditworthiness and appropriateness of attributes for our Asset and Liability Management goals, and recommending substitutions in instances in which better ALM and/or risk characteristics justify yield tradeoffs. Building and maintaining trading and research relationships with Wall Street firms.
Monitoring and surveillance of some of the structured finance securities managed by external advisors, including quantitative modeling and screening, analysis of risk and portfolio concentrations, and overall monitoring of market fundamentals and technicals.
Maintenance of modeling / prepayment / loss assumptions and surveillance tools for structured finance securities in primary areas of responsibility. Production and/or analysis of Other than Temporary Impairment cash flow runs. Partnering with other analysts to ensure proper integration of the foregoing into our fixed income analytics platform.
What we offer you
We don't take a 'one-size-fits-all' approach when it comes to our employees. Our programs are designed to make your life better--both at work and at home.
Flexible and telecommute work arrangements
Paid time away options to accommodate your needs and life's events, including vacation (our favorite), illness, caring for a family member, volunteering, the birth or adoption of a child, the loss of a family member and more
Plan for your future with our 401(k) plan and take advantage of immediate vesting and company matching up to 6%
Wellness program offering employees a variety of resources designed to assist you in reaching and maintaining your optimum health
Life and disability benefits to provide financial protection for you and your family
Give back to your community and double your impact through our company matching and/or participate in our company-wide week of service each June
Want more details? Check out our Symetra Benefits Overview
Your education and experience
Highly quantitative educational credentials, as evidenced by an Master's / PhD degree in a quantitative discipline, such as Mathematics, Computer Science, Engineering, or Operations Research, or a Bachelor's degree in a quantitative discipline and evidentiary information supporting superior quantitative proficiency.
At least 12 years of overall experience in a structured fixed-income-oriented, front office and/or quantitative role in a bank, insurance company, hedge fund, pension fund, or other asset management firm.
Minimum 12 years of experience in the analysis, modeling, and/or trading of structured finance securities.
Chartered Financial Analyst (CFA) and/or Masters of Business Administration (MBA) is a plus.
Your skills and abilities
A sound and demonstrable understanding of the following structured finance products and markets, with a particular emphasis on the first two:
Asset Backed Securities products, including credit cards, autos, student loans, whole business, equipment finance, aircraft, railcars, containers, consumer loans, and other major and esoteric categories. Experience performing credit analysis and modeling cash flows for such securities.
Collateral Loan Obligations, including pre- and post-crisis vintages. Understanding of loan pool composition analysis, cash flow modeling, deal triggers, manager tiering, and other characteristics relevant to the risk analysis of such securities.
Agency Mortgage Backed Securities products, including pass-throughs and Collateralized Mortgage Obligations, as well as proper foundation in the analysis of these securities (yield / spread/average life analysis, Option Adjusted Spread, sensitivity testing, prepayment forecasting). Familiarity and experience with industry-standard prepayment models (e.g.. Andrew Davidson, Bloomberg, dealer platforms).
Non-agency Residential Mortgage Backed Securities, including pre and post-crisis vintages. Experience with prepayment and loss modeling analysis for such securities, as well as cash flow waterfall modeling.
Non-agency Commercial Mortgage Backed Securities, including pre- and post-crisis vintages and both conduit and single-asset transactions. Familiarity with P&I trenches as well as IOs. Experience with prepayment and loss modeling analysis for such securities, as well as cash flow waterfall modeling.
Existing structured securities sales relationships with Wall Street dealers
Proficiency in the primary analytical tools and systems required for the analysis of structured finance securities, such as Bloomberg, Intex, Trepp, Polypaths, Andrew Davidson, etc.
A solid understanding of fixed income analytics, including duration, convexity, key rate duration, immunization, and static yield spread, Option Adjusted Spread, etc. Familiarity with insurance company Asset and Liability Management and/or Long Term Incentive is an advantage.
A 'get it done' work ethic that supports the completion of tasks within specified timeframes, and the ability to adjust to shifting priorities as business conditions warrant, understanding that the work requirements of the position will sometimes embed inflexible deadlines.
The ability to work cooperatively and collegially within a small team environment and communicate ideas effectively. Interest in being involved in multiple aspects of investment and risk management.
In a complex industry, we strive for clarity.
Symetra is a dynamic and growing financial services company with 60 years of experience and customers nationwide. In our daily work delivering retirement, employee benefits, and life insurance products, we're guided by the principles of VALUE, TRANSPARENCY AND SUSTAINABILITY. That means we provide products and services people need at a competitive price, we communicate clearly and honestly so people understand what they're getting, and we build products that stand the test of time. We work hard and do what's right for our customers, communities and employees. Join our team and share in our success as we work toward becoming the next national player in our industry.
To learn more about Symetra and our careers visit www.symetra.com/careers
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