Director, RMBS Trading & Residential Credit Investing

Director, RMBS Trading & Residential Credit Investing The Director of RMBS Trading & Residential Credit Investing is responsible for leading residential mortgage‑backed securities (RMBS) trading, whole loan trading, and private residential credit investment initiatives. This role oversees portfolio management, sourcing, pricing, structuring, and execution across a broad range of residential credit asset classes. The Director drives relative value analysis, develops proprietary analytical tools, manages junior team members, and partners cross‑functionally to deliver attractive risk‑adjusted returns. Key Responsibilities Manage and actively trade multi‑sector RMBS portfolio, including agency, non‑agency, CRT, NPL/RPL, and other structured credit subsectors. Conduct relative value analysis, performance surveillance, and risk monitoring across holdings. Source and evaluate market opportunities, maintaining relationships with buy‑side and sell‑side counterparties. Develop and enhance internal pricing models and analytical frameworks to support trading decisions. Oversee portfolio analytics, scenario analysis, and performance attribution. Build loan‑level pricing models incorporating prepayment, default, severity, and rate assumptions. Manage and mentor junior team members responsible for modeling and portfolio surveillance. Manage acquisition and disposition of whole loan asset classes. Coordinate transaction execution with legal, transaction management, counterparties, and servicers. Prepare and present detailed investment committee memoranda outlining return expectations, risk factors, and sensitivities. Risk Analytics & Process Development Design and implement robust portfolio monitoring and delinquency tracking frameworks. Develop expected loss modeling and pricing optimization tools. Collaborate with middle and back‑office teams to design underwriting and operational processes. Qualifications Bachelor’s degree in Economics, Finance, Mathematics, Statistics, or related quantitative field; strong academic record required. 7+ years of experience in RMBS trading, whole loan trading, residential credit investing, structured products, or mortgage analytics. Deep knowledge of residential mortgage products, securitization structures, and credit performance drivers. Strong financial modeling skills (loan‑level cash flow modeling, scenario analysis, yield and spread analysis). Experience presenting investments to Investment Committees. Demonstrated ability to manage portfolios and drive P&L performance. Strong negotiation and cross‑functional collaboration skills. Prior team leadership or analyst management experience preferred. AI Usage Guidelines Leverage approved AI tools, where appropriate, to improve the efficiency, quality, and impact of their work. Stay curious and open to new AI‑enabled ways of working. Exercise sound judgment by reviewing and validating AI‑generated content. Maintain accountability for the accuracy, quality, fairness, and integrity of work products by adhering to National Life’s AI guiding principles. Use AI responsibly and in accordance with company policies related to confidentiality, data privacy, security, compliance, retention and intellectual property. Compensation Base Pay Range . The base pay range for this position is the range National Life reasonably and in good faith expects to pay for the position taking into account the wide variety of factors, including: prior experience and job‑related knowledge; education, training and certificates; current business needs; and market factors. The final salary or hourly wages offered may be outside of this range based on other reasons and individual circumstances. Additional Compensation and Benefits . The total compensation package for this position may also include a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. The successful candidate may also be eligible to participate in National Life’s discretionary annual incentive programs, subject to the rules governing such programs. If hired, the employee will be in an "at‑will position" and National Life reserves the right to modify base salary (as well as any other discretionary payment or compensation or benefit program) at any time, including for reasons related to individual performance, company or individual department/team performance, and market factors. Salary Pay Range: $163,125 - $239,250 USD Equal Opportunity As set forth in National Life Insurance Company’s Equal Employment Opportunity policy, we do not discriminate on the basis of any protected group status under any applicable law. National Life is accepting applications for this role on an ongoing basis and the role remains open until filled. #J-18808-Ljbffr National Life Insurance Company