Equity research · Mortgages

You build the models that price bonds backed by pools of mortgages and forecast the cash they will pay back. You sit in the Mortgages Analytics team in London, a front office team of desk quants, which means you work beside the people who make the investment decisions rather than in a separate research department. The team supports PIMCO's alternatives business as it widens its range of funds.

The bonds you work on are securitisations. A lender bundles many loans together, and investors buy slices of the payments those loans make. Your models tell the portfolio managers what each slice is worth and how it might behave, so they can decide what to buy and how to manage what they already own.