Structured Credit VP-Non Agency RMBS

Ledgend Group is seeking a Structured Credit VP for one of our Los Angeles-based Asset Management clients. This role has a focus on non-agency residential mortgage-backed securities and related credit strategies. This is a high-conviction, research-driven seat within a 14-person structured credit team that operates with an intentionally flat, position less culture where intellectual curiosity and cross-disciplinary thinking are valued as much as technical depth. The firm is looking for someone who brings genuine expertise in corners of the non-agency market where the team is actively building knowledge, including NPL, RPL, jumbo, and residential transition loan sectors. Responsibilities Conduct deep fundamental analysis across non-agency RMBS sectors, with particular emphasis on NPL, RPL, jumbo loan, and RTL collateral and deal structures. Contribute original research and investment ideas that inform portfolio positioning across the broader structured credit platform. Evaluate new issue and secondary market opportunities, performing loan-level due diligence, cashflow modeling, and scenario analysis. Engage collaboratively across the team in a positionless capacity, contributing to discussions and workstreams beyond a narrowly defined role. Monitor portfolio holdings and track collateral performance, prepayment behavior, and credit migration across assigned sectors. Develop and maintain relationships with dealers, originators, servicers, and other market participants to source proprietary intelligence and off-market flow. Communicate investment theses clearly to senior portfolio managers and, where appropriate, to clients or prospects. Qualifications Five or more years of experience in structured credit investing, with demonstrable expertise in non-agency RMBS Strong command of loan-level analysis, cashflow modeling, and the legal and structural mechanics of non-agency securitizations. Intellectually curious with a demonstrated ability to develop original views and think creatively about relative value and risk. Must be based in or willing to relocate to Los Angeles, as the role is fully office-based in downtown LA. Preferred Experience with NPL, RPL, jumbo loan, and RTL collateral and deal structures. Advanced degree or CFA. Comfortable operating in a fluid, team-oriented environment where responsibilities extend beyond a single defined function. #J-18808-Ljbffr Ledgend Group