Associate Portfolio Manager - Residential Mortgage Backed Securities

Lord Abbett•Jersey City, NJ

10d•Onsite

About The Position

Lord Abbett is seeking an Associate Portfolio Manager to support the management of portfolios with a focus on non-agency Residential Mortgage-Backed Securities (RMBS). This individual will collaborate with senior portfolio managers and research analysts to implement investment decisions across various RMBS subsectors for fixed income mandates. The role requires strong analytical skills, experience in RMBS portfolio construction, credit risk management, interest rate and convexity management, and security selection. The position involves principal risk-taking responsibility in portfolio construction, risk management, and idea generation within a team-oriented environment.

Requirements

5–10 years of relevant experience in RMBS research, trading, portfolio management, or portfolio construction
Strong understanding of a wide range of security types within the RMBS landscape
Exceptional analytical and quantitative skills, with experience in financial modeling and risk analysis, inclusive of duration, convexity, and credit
Flexibility to think deeply about individual security risk as well as broadly, across securities within a portfolio, and across suites of portfolios
Familiarity with key drivers of mortgage markets, including prepayments, credit performance, and interest rate sensitivity
Demonstrated ability to contribute to investment decisions and portfolio outcomes
Effective communication skills, with the ability to articulate investment views clearly and succinctly
Detail-oriented with strong organizational skills and the ability to manage multiple priorities
Collaborative mindset with a proactive approach to problem-solving and idea generation
Bachelor’s degree required
Proficiency in Excel and familiarity with market analytics tools such as Bloomberg, Intex, or similar platforms

Nice To Haves

CFA or progress toward the designation preferred

Responsibilities

Generate recommendations and implement RMBS trades, leveraging research and risk management resources for decision-making across a heterogenous set of mandates
Collaborate with other portfolio managers, research analysts, and traders to screen and prioritize RMBS with the best risk-adjusted returns
Monitor portfolio positioning and achieve or maintain desired risk objectives and targets across a range of parameters
Perform portfolio simulations and projections including excess and total return forecasts
Opine on relative value within RMBS and maintain documentation supporting investment decisions
Communicate trade color and commentary to the broader team and department
Manage trade lifecycles including security setup process, compliance checks, and post trade quality checks for analytical integrity
Update relevant market data pertaining to valuations, supply, trading activity
Build and maintain external relationships with trading, banking, and syndicate desks to ensure our team retains top-of-funnel access to opportunities
Partner with research analysts to incorporate fundamental insights into portfolio decisions
Stay current on housing market trends, interest rate dynamics, and policy developments impacting residential real estate
Prepare and communicate investment views and portfolio updates to senior stakeholders