Secured Funding Analyst

Role Overview

The postholder will report to the Head of Secured Funding and provide support in the execution and analysis of secured financing transactions, including Residential Mortgage‑Backed Securities, Warehouses, Forward Flow and Portfolio Sales. The Secured Funding Analyst will provide analytical and research support and will be responsible for assessing collateral performance, modelling cashflows, evaluating structural risks, and providing investment or risk oversight to ensure optimal funding and investment performance, regulatory compliance, and early identification of emerging risks.

Key Responsibilities

• Analysis & Modelling
  • Analyse secured funding transactions, including collateral pools, structural features, waterfalls, triggers, enhancements, and counterparties.
  • Build and maintain cashflow models using Excel/VBA. Prior experience with Python is advantageous but not a requirement.
  • Perform scenario testing / stress testing on prepayments, delinquencies, defaults, recoveries, and interest‑rate sensitivities.
  • Evaluate tranche performance, expected credit losses, and projected returns.
• Portfolio Monitoring & Reporting
  • Conduct ongoing performance surveillance of existing RMBS issuance and holdings.
  • Prepare monthly and quarterly performance summaries, including KPIs, risk metrics, and variance analysis.
  • Identify deterioration in collateral, servicer performance, or deal structure; elevate where necessary.
  • Maintain internal dashboards, models, and databases.
  • Work closely with the MI reporting team to ensure data quality and integrity is maintained and complies with both internal and external reporting requirements.
  • Report to internal governance Committees, Treasury Risk Forum, ALCo.
• Market, Regulatory & Sector Intelligence
  • Monitor market trends across housing, mortgage lending, securitisation, interest rates, and macroeconomic indicators.
  • Track regulatory developments impacting RMBS (e.g., PRA, FCA, Basel, STS requirements).
  • Provide insights on new issuance and secondary‑market movements.
• Risk Management & Governance
  • Develop and manage structured funding standard operating processes to satisfy the operational and reporting obligations of the funding agreements.
  • Support the assessment of credit, liquidity, interest‑rate, and structural risks.
  • Assist with internal credit opinions, due‐diligence notes, and Committee papers.
  • Ensure compliance with internal risk frameworks, policies, and stress‑testing standards.
  • Contribute to regulatory reporting and audit processes as required.
• Stakeholder Engagement
  • Work with internal stakeholders ensuring the key interlinking processes with other business areas are documented.
  • Work with Treasury, Risk, and Finance to support funding and investment decisions.
  • Liaise with investment banking advisors, investors, issuers, servicers, credit rating agencies, and internal model validators.
  • Present analysis clearly to technical and non‑technical audiences.

Requirements

• Experience analysing RMBS, ABS, or structured finance products.
• Familiarity with UK and/or EU mortgage markets.
• Understanding of STS frameworks, rating agency methodologies (Moody’s, S&P, Fitch, DBRS), and regulatory capital rules.
• Strong financial modelling and analytical capabilities.
• Understanding of mortgage collateral characteristics: LTV, arrears, seasoning, affordability, prepayment behaviour, etc.
• Knowledge of securitisation structures, waterfalls, credit enhancement, and tranche behaviour.
• Ability to interpret loan‑level data, stratification tables, and servicer reports.
• Proactive approach to risk identification and problem‑solving.
• Strong written and verbal communication skills.
• Strong stakeholder‑management skills.

Benefits

We offer a comprehensive benefits package to support our employees’ professional and personal needs. Further details can be provided upon application.

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