What are the responsibilities and job description for the Analyst, MSR Portfolio Management position at Bayview Asset Management?
Overview:
With over 1,550 employees, our corporate headquarters is uniquely situated in the beautiful community of Coral Gables, Florida, located near the shores of Biscayne Bay and minutes from Miami Beach. The firm has additional asset management offices in New York, London, and Geneva, and loan servicing and origination affiliates in seven U.S. states and Milan, Italy. As of February 29, 2024, Bayview managed approximately $18.5 billion in assets under management.
About MSR Portfolio Management
MSRs are essentially interest-only (IO) cash flow strips on underlying pools of mortgages. Like IOs on any other callable bond, MSRs are susceptible to prepayment and credit risk. Yet it is so much more than that – the MSR owner is entitled to many different income and expense cash flows. On a single MSR asset, we model and monitor over 60 types of cash flows.
POSITION SUMMARY:
ESSENTIAL DUTIES AND RESPONSIBILITIES:
SKILLS/KNOWLEDGE/ABILITIES:
EDUCATION and EXPERIENCE:
LOCATION and COMPENSATION
EEOC
About Bayview Asset Management, LLC
Bayview Asset Management, LLC (“Bayview”), initially founded in 1993, is an investment management firm focused on investments in mortgage and consumer credit, including whole loans, asset backed securities, mortgage servicing rights, and other credit-related assets.
With over 1,550 employees, our corporate headquarters is uniquely situated in the beautiful community of Coral Gables, Florida, located near the shores of Biscayne Bay and minutes from Miami Beach. The firm has additional asset management offices in New York, London, and Geneva, and loan servicing and origination affiliates in seven U.S. states and Milan, Italy. As of February 29, 2024, Bayview managed approximately $18.5 billion in assets under management.
About MSR Portfolio Management
The Bayview Mortgage Servicing Rights (“MSR”) Fund along with its wholly owned subsidiary Lakeview Loan Servicing (“Lakeview”) is the largest of Bayview’s funds. Lakeview is the top servicer of agency MSRs in the United States, and actively sources new MSRs across its origination platform and bulk and co-issue MSR businesses.
MSRs are essentially interest-only (IO) cash flow strips on underlying pools of mortgages. Like IOs on any other callable bond, MSRs are susceptible to prepayment and credit risk. Yet it is so much more than that – the MSR owner is entitled to many different income and expense cash flows. On a single MSR asset, we model and monitor over 60 types of cash flows.
POSITION SUMMARY:
The Analyst, MSR is a critical part of the MSR PM team, with primary responsibilities to support the management of interest rate risk of the mortgage servicing rights (MSR) portfolio; additionally, the analyst will help to support other key functions on the team, including performing P&L attribution analysis, supporting derivative trading, and supporting initiatives around development and automation.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
The following job functions are not all-inclusive. The employee will be required to perform other job-related tasks/responsibilities as requested. Job duties may change as required by needs of company.
- Execute on oversight activities surrounding derivatives operational processes
- Review and improve trading desk’s operational infrastructure, processes, and controls
- Monitor and coordinate with desk traders and Ops teams on margin calls originating from hedges of futures, swaps, TBA, and swaption positions
- Manage and update our position of futures, swaps, TBAs and swaptions
- Produce and Analyze our portfolio risk & profit and loss reporting across our portfolios and funds
- Work across subverticals within the MSR PM team, and greater Bayview, to support various projects and initiatives around portfolio hedging processes and automation
SKILLS/KNOWLEDGE/ABILITIES:
- Knowledge of various derivative instruments
- Advanced analytic and problem-solving capabilities.
- Familiar with applied statistical methods.
- Understanding of monetary policy and macroeconomic developments.
- Proven writing ability and strong verbal communication skills.
- Methodical problem-solving abilities with limited direction.
- Attention to detail and analytical mindset.
- Understanding of finance and economics.
EDUCATION and EXPERIENCE:
- Undergraduate or masters degree, preferably in a finance or related field such as Mathematics or Economics
- 0-4 years of work experience in mortgage interest rate management, quantitative analysis, trading operations, or similar roles
- Experience working with mortgage-based derivatives such as Swaps, Eurodollar futures, and options
- Experience working with analytical tools including Microsoft Excel, VBA programming, Python, CAS, and Bloomberg
LOCATION and COMPENSATION
- Location: This is an in office position located in Bayview's New York, NY or Coral Gables, FL office
- Base compensation is expected to be $100,000 - $130,000 with the opportunity for incentive compensation including bonus compensation.
EEOC
Bayview is an Equal Employment Opportunity employer. All aspects of consideration for employment and employment with the Company are governed on the basis of merit, competence and qualifications without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, or any other category protected by federal, state, or local law.
Salary : $100,000 - $130,000
