Sr. Investment Associate – Securitized Credit
Pioneer Investments is a diversified asset management firm and a key franchise of Victory Capital Management (VCTR). Founded in 1928, Pioneer currently manages over $125 billion in assets across a wide range of strategies.
About Victory Capital:
Victory Capital is a diversified global asset management firm and employs a next-generation business strategy that combines boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform. Victory Capital provides specialized investment strategies to institutions, intermediaries,
retirement platforms and individual investors. With 12 autonomous Investment Franchises and a Solutions Business, Victory Capital offers a wide array of investment products and services,including mutual funds, ETFs, separately managed accounts, alternative investments, third-partyETF model strategies, collective investment trusts, private funds, a 529 Education Savings Planand brokerage services.
Victory Capital is headquartered in San Antonio, Texas, with offices and investment professionalsin the U.S. and around the world.
To learn more please visit www.vcm.com or follow VictoryCapital on Facebook, Twitter, and LinkedIn.
General Summary and Purpose:
The Securitized Credit and Short Duration Income Team at Pioneer Investments is looking for an Investment Associate to focus on Non-Agency Residential Mortgage-Backed Securities (RMBS) and Asset-Backed Securities (ABS). Based in Boston, MA, this person will assist the Team in making investment decisions within securitized credit and short duration fixed income portfolios,as well as multi-sector fixed income portfolios. The Team is currently composed of four otherinvestment professionals (total of five) and is directly responsible for ~$12.8B of Pioneer’s~$56B in fixed income client assets.
You Will:
- Assist in day-to-day management of securitized credit positions within various subsectors such as post-crisis RMBS (Non-QM, SFR, CRT, RPL) and ABS (Autos, Student Loans, Equipment, Consumer Loans).
- Build and maintain scalable systems to monitor collateral performance and position valuations using tools such as Bloomberg, Python, SQL, R, Stata, and other platforms and languages.
- Monitor issuer, industry, and market trends within a comprehensive surveillance process.
- Develop econometric models to forecast prepayments, defaults, and losses on pools of residential, consumer, and commercial loans.
- Perform credit analysis and propose trade ideas for client portfolios with a focus on relative value and security selection within securitized credit sectors. Assess strengths and weaknesses of securitization structures, risk scenarios, and legal documents on new issue and secondary offers.
- Execute trades in the primary and secondary market. Build and maintain relationships with sell side research, trading desks, rating agencies, issuers, and other industry participants.
- Develop and maintain broker/dealer contacts. Aggregate and manage new-issue orders.
You Have:
- Detail oriented, intellectually curious team player who can work in a fluid work
environment with tight deadlines and make buy-and-sell investment decisions under
pressure.
- Bachelor’s degree required, preferably in an analytical field. CFA charterholder or progress towards the CFA designation is preferred.
- Proficiency and interest with programming languages is required. Specific experience with Python, R, or SQL is ideal.
- 2-6 years of fixed income investments experience is preferred.
- Analytical skills and attention to detail is essential. Applied experience making decisions using statistics or econometrics is preferred.
- Ability to collaborate and communicate across all areas of the organization including sales,marketing, compliance, trading, and operations, is critical.
Our Benefits:
Victory Capital Management offers excellent Medical, Dental, Vision plans, Flexible PTO, Family Medical
and Disability Leaves, Education Tuition Reimbursement and a 401k plan with a generous employer match.
Target Compensation:
The target base salary range for this position is $100,000 to $120,000 Salaries are determined based on internal equity, internal salary ranges, market data/ranges,
applicant’s skills and prior relevant experience, certain degrees, and certifications. Victory Capital Management operates a pay-for-performance compensation philosophy and totalcompensation may vary based on role, location, department and individual performance.
Victory Capital Management’s total compensation package includes the opportunity for annual
compensation bonuses and/or commissions and a generous benefits package.
We are committed to equal employment opportunity without regard to actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, pregnancy-related conditions, and lactation), gender identity or expression (including transgender status), sexual orientation, marital status, military service and veteran status, physical or mental disability, genetic information, height, weight, hair texture or a hairstyle historically associated with race to include braids, locks, or twists; or any other characteristic protected by applicable federal, state, or local laws and ordinances.
