Quantitative Developer - Securitized Products

Clearwater Analytics•New York, NY

2d•$156,400 - $210,841•Remote

About The Position

Clearwater 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. As 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.

Requirements

1–3 years of experience in quantitative development with a focus on securitized or structured products
Strong understanding of structured product mechanics - deal structures, waterfall logic, cash flow prioritization, credit enhancement, and tranche-level risk
Familiarity with prepayment models (e.g., PSA, CPR) and credit risk frameworks applicable to ABS, MBS, CMBS, and CLO structures
Experience developing production-quality code, preferably in Python, with a strong software engineering foundation
Strong problem-solving and communication skills - ability to convey technical topics clearly to both technical and non-technical audiences

Nice To Haves

Experience in a front office or structured products development role supporting valuation, risk analytics, or portfolio analytics for securitized products
Hands-on experience building or maintaining pricing and risk systems in a production environment
Familiarity with relevant market data sources (Bloomberg, Intex, Trepp, MSCI, or similar) and structured product reference data
Experience with interest rate modeling (e.g., Hull-White, short rate models) as it applies to structured product valuation
Prior experience working directly with clients to customize platforms, integrate models, or develop technical solutions

Responsibilities

Develop and maintain pricing libraries and analytical models for securitized products including ABS, CLO, MBS, CMBS, and other structured credit instruments
Build, extend, and maintain frameworks within the platform supporting securitized product lifecycle management, including cash flow generation, prepayment modeling, credit enhancement structures, and tranche-level analytics
Implement and maintain risk analytics covering interest rate sensitivities (DV01, duration, convexity), spread risk, scenario analysis, and stress testing across structured product portfolios
Design and develop models for prepayment, default, and loss severity - calibrated to market conventions and client-specific requirements
Identify and advocate for new models and design patterns necessary for the continuous improvement of an evolving infrastructure to support all clients
Produce high-quality documentation targeting both technical and non-technical audiences, supporting and expanding engineering solutions