About Us

NLG Capital, the investment management company of NLG, manages approximately $40+ billion in AUM. Our purpose is simple – to allow NLG to keep its promises. How we do this – an obsessive focus on delivering investment results. We drive results through a rigorous but collaborative investment process, and we hold ourselves to the highest of standards, both as investors and teammates. While our process is based on rigor, our culture is based on our guiding principles: Meritocracy, Uncompromising Transparency, Intellectual Honesty, Performance Driven Learning, Relentless Pursuit of Excellence. These principles serve as the foundation of our team. They govern the way we conduct ourselves, how we interact with teammates and how we approach every investment decision. We act with the integrity and humility required to make the investment decision that is right for the firm, and ultimately our policyholders. Our culture has been deliberately built to foster curiosity and provide opportunities to learn and grow, both as people and investors. The flat and collaborative nature of our team promotes an atmosphere where the best ideas are continually expressed and rewarded. Our pursuit of excellence is unwavering.

Please note that we do not offer visa sponsorship for this position.

Role Summary

The Associate, Mortgage Analytics is responsible for residential whole loan and RMBS analytics used for trading, portfolio management, asset management, and servicing oversight. This is a hands-on role supporting a rapidly growing $5bn+ AUM residential mortgage platform spanning residential whole loans and RMBS.

The Associate works closely with analysts, traders, portfolio managers, and the Investment Committee, who rely on the role’s analytical output to drive the decision process. The successful candidate is fluent in residential mortgage risk, prepayment analytics, loan credit characteristics, and the plumbing of the mortgage market, including how loans are originated, packaged, sold, and serviced.

This is a technical role requiring fluency in Python, SQL, and a data platform such as Databricks.

This position currently offers an onsite work schedule, with the expectation that you will be in the office four (4) days per week during onsite core days. Our current onsite core days are Monday, Tuesday, Wednesday, and Thursday. The work schedule type and core days are subject to change with advance notification and manager discretion.

Essential Duties and Responsibilities

• Build and maintain the models used to price residential whole loans and RMBS and run their cash flows, updating assumptions as rates and borrower behavior change.

• Crack and clean bid tapes and loan-level data, price pools, and prepare memos for Transaction Committees overseeing whole loan trading activity.

• Evaluate securitization vs. whole loan markets, and quantify both prepayment and credit risk.

• Evaluate portfolio data and develop repeatable institutional analytics tracking portfolio performance.

• Model prepay and default behavior, develop market comparables and benchmarks, and present performance data to portfolio managers and Investment Committee.

• Support servicing oversight by converting raw servicing data into clear takeaways on servicer performance and loan-level exceptions.

• Own the data pipelines and tooling behind the analytics, including Databricks, Python, and SQL, with a focus on continual improvement.

• Reconcile loan data across systems and work with Operations and Transaction Management to resolve.

• Provide ad hoc analysis and support for trading and portfolio management functions.

• All other duties as assigned.

Minimum Qualifications

• A quantitative degree or equivalent work experience.

• 2–5 years experience in mortgage analytics or a related field.

• A strong understanding of mortgage cash flows, prepayment modeling, and pricing of residential mortgage risk in both whole loan and securitized form.

• Comfortable working with servicing and remittance data.

• Strong Python and SQL skills and experience, plus hands-on work in Databricks or a similar platform.

• A solid grasp of mortgage analytics and prepayment modeling systems (Aladdin, Intex, Bloomberg, etc.).

AI Proficiency Expectations:

At National Life Group, we view AI as an enabler of human potential. We use AI to help us work smarter, serve more clients, and keep our promises, while remaining a relationship-driven business where our people are our greatest strength.

All applicants are expected to:

• 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.

• Additional Expectations for AI-Forward Roles

Applicants in AI-forward roles are also expected to:

• Identify practical opportunities to apply AI to improve workflows, productivity, analysis, and business outcomes.

• Create effective prompts, workflows, controls, and human-in-the-loop (HITL) review processes that support responsible AI use.

• Critically evaluate AI-generated outputs for accuracy, quality, bias, fairness, confidentiality, compliance, security, and business relevance.

• Partner appropriately with Legal, Compliance, Risk, Security, Data/Technology, and business stakeholders to move AI ideas from experimentation to responsible adoption.

• Help model responsible, human-centered AI adoption across the organization.

Core Competencies

Service Focus - Demonstrates a client centric focus for satisfying one’s external and/or internal customers; establishes and maintains effective relationships with customers and gains their trust and respect.

Decision Making - Makes sense of complex information, critically evaluates, and creates solutions.

Results Oriented - Sets performance and personal goals; Driven to meet or exceed goals and objectives.

Plans and Aligns - Plans and prioritizes work to meet commitments aligned with organizational goals; Aligns people and skills to tasks and assignments; Evaluates results of work.

Demonstrates Learning Agility - Enhances skills and knowledge through continuous learning; Focuses on personal results by establishing stretch goals; Seeks feedback and changes accordingly.

Establishes Relationships - Builds partnerships with others to instill trust, collaborate, and meet shared objectives.

Communicates Effectively - Actively listens, conveys messages to meet different audience needs, and remains open to new ideas and opinions.

Fosters Diversity - Values diversity and difference in thought, experience, and perspective; Promotes an environment that embraces diversity, equity, and inclusion; Supports equal and fair treatment for all.

Benefits

• Your benefits start day one and are flexible and customizable to your and your family’s specific needs. Check out the BENEFITS of a Career at National Life!