Structured Credit Analyst-Residential Mortgage-Backed Securities (RMBS)

Weitz Investment Management, Inc.•Omaha, NE

14h•Hybrid

About The Position

Weitz Investment Management is seeking a mid-level Structured Credit Analyst to join their Fixed Income and Structured Products team, with a specialized focus on Residential Mortgage-Backed Securities (RMBS). This role involves participating in the sourcing, evaluation, and modeling of fixed income investment opportunities for the firm’s fixed income strategies, including legacy and new issue RMBS (non-agency, CRT, re-performing/NPLs, Non-QM, and esoteric structures. The position will encompass credit research, modeling, trading, assisting in the advancement of potential investment opportunities, and contributing to strong risk-adjusted returns for clients. The individual will support and participate in the success of the investment team, possessing a strong background in modeling and analyzing cashflows and capital structures, aiming to deepen their impact by supporting portfolio managers with actionable investment ideas, risk surveillance, and relative value insights.

Requirements

Must have 3+ years of experience in structured finance, preferably with a focus on RMBS sectors at a buy-side firm, sell-side research desk, or securitized products group.
Hands-on experience analyzing non-agency RMBS deals across legacy, Non-QM, and CRT subsectors.
A passion for investing, high degree of curiosity, and drive for continuous improvement
A desire to work in a collaborative team-oriented environment and openness to discussing, sharing and debating investment ideas
Strong understanding and ability to work in Microsoft Excel, and Bloomberg
Strong understanding of RMBS deal documentation, cashflow modeling, and loan-level performance analytics
Knowledge of securitization frameworks including REMIC, Re-REMIC, and key credit enhancement features
Strong oral and written communication skills
Bachelor’s degree in a quantitative, analytical, or finance-related field (Engineering, Math, Economics, Finance).
Sound ethics and integrity
Ability and willingness to travel in support of essential functions listed above

Nice To Haves

CFA designation or active progress toward the charter preferred.

Responsibilities

Perform rigorous bottom-up fundamental and structural analysis on a wide range of RMBS products, including: Legacy senior and mezzanine bonds, Non-QM and RPL/NPL deals, CRT (Credit Risk Transfer) securities, 2nd lien, HELOC, Excess Servicing, IO/PO tranches, and Residual/NIM and Re-REMIC structures
Analyze deal structure, waterfall, triggers, and prepayment behavior
Evaluate servicer and collateral performance; monitor key risk metrics (e.g., CPR, CDR, severity, delinquency trends)
Provide research and investment write-ups on RMBS opportunities
Develop and maintain surveillance tools and relative value dashboards
Support portfolio managers in security selection, allocation strategy, and monitoring of existing holdings
Build and maintain cash flow scenarios, run sensitivity analysis, and stress test outcomes under varying macroeconomic conditions
Leverage proprietary models and external vendor tools to analyze valuation and relative value spread positioning.
Construct scenario-based analytics to evaluate upside/downside risks across capital structures
Demonstrates an ability to evaluate the entire capital structure and communicate the strengths and potential pitfalls of an investment idea and actively participates in group discussions to generate value-added ideas.
Build internal and external relationships with colleagues, sell-side traders and bankers, rating agencies, issuers, industry experts and other sources to collect additional insights on market, industry, asset class and issuer credit developments.
Work closely with senior PMs and other members of the fixed income team to align on portfolio strategy and positioning
Partner with operations, compliance, and technology teams to ensure accurate implementation of trade ideas and monitoring systems.